Immuron Correlations

IMRN Stock

USD 1.88 0.03 1.57%

The current 90-days correlation between Immuron Ltd ADR and In8bio Inc is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Immuron moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Immuron Ltd ADR moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Immuron Correlation With Market

Average diversification

The correlation between Immuron Ltd ADR and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Immuron Ltd ADR and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Immuron Ltd ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Immuron Stock

0.64	A	Agilent Technologies	Pair Corr
0.87	ME	23Andme Holding	Pair Corr
0.72	VALN	Valneva SE ADR	Pair Corr
0.62	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.88	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.73	IPSC	Century Therapeutics	Pair Corr
0.9	MTEM	Molecular Templates	Pair Corr
0.82	NKTX	Nkarta Inc	Pair Corr
0.86	TPST	Tempest Therapeutics	Pair Corr
0.84	AGL	agilon health Buyout Trend	Pair Corr
0.74	CYRX	Cryoport	Pair Corr
0.73	SHG	Shinhan Financial	Pair Corr
0.87	EC	Ecopetrol SA ADR	Pair Corr
0.75	HYMTF	Hyundai Motor	Pair Corr
0.77	TLK	Telkom Indonesia Tbk	Pair Corr

Moving against Immuron Stock

0.65	KZR	Kezar Life Sciences	Pair Corr
0.65	MLYS	Mineralys Therapeutics,	Pair Corr
0.47	MDGL	Madrigal Pharmaceuticals	Pair Corr
0.85	BAC	Bank of America Aggressive Push	Pair Corr
0.81	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.79	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.74	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.73	KB	KB Financial Group	Pair Corr
0.7	T	ATT Inc Sell-off Trend	Pair Corr
0.65	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.62	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.59	HD	Home Depot	Pair Corr
0.42	VFS	VinFast Auto Earnings Call Today	Pair Corr

Related Correlations Analysis

	TCRX	VECT	INAB	PHIO	IMMX	SIOX	MGTA	GNCAQ	TCON
TCRX		-0.47	0.21	0.28	0.34	0.51	-0.19	0.0	0.36	TCRX
VECT	-0.47		-0.5	-0.32	-0.61	-0.69	0.14	0.0	-0.66	VECT
INAB	0.21	-0.5		-0.05	0.8	-0.01	0.44	0.0	0.8	INAB
PHIO	0.28	-0.32	-0.05		-0.07	0.28	-0.62	0.0	0.03	PHIO
IMMX	0.34	-0.61	0.8	-0.07		0.14	0.4	0.0	0.76	IMMX
SIOX	0.51	-0.69	-0.01	0.28	0.14		-0.3	0.0	0.29	SIOX
MGTA	-0.19	0.14	0.44	-0.62	0.4	-0.3		0.0	0.29	MGTA
GNCAQ	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	GNCAQ
TCON	0.36	-0.66	0.8	0.03	0.76	0.29	0.29	0.0		TCON
	TCRX	VECT	INAB	PHIO	IMMX	SIOX	MGTA	GNCAQ	TCON

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

IMMX	+ 0.8	INAB
TCON	+ 0.8	INAB
TCON	+ 0.76	IMMX
SIOX	+ 0.51	TCRX
MGTA	+ 0.44	INAB
MGTA	+ 0.4	IMMX

High negative correlations

SIOX	- 0.69	VECT
TCON	- 0.66	VECT
MGTA	- 0.62	PHIO
IMMX	- 0.61	VECT
INAB	- 0.5	VECT
VECT	- 0.47	TCRX

Risk-Adjusted Indicators

There is a big difference between Immuron Stock performing well and Immuron Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Immuron's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TCRX	2.69	(0.65)	0.00	(0.17)	0.00	0.00	5.77	(5.05)	17.54
VECT	2.63	1.07	0.54	3.09	0.88	(3.64)	5.61	(3.08)	39.30
INAB	5.43	0.02	0.00	0.11	0.00	0.00	6.67	(11.54)	109.03
PHIO	4.66	(0.28)	0.00	(0.11)	0.00	0.00	11.78	(10.38)	36.22
IMMX	3.87	(0.35)	0.00	(0.14)	0.00	0.00	7.06	(8.22)	32.68
SIOX	1.07	(0.10)	0.00	14.93	0.00	0.00	2.33	(2.38)	11.21
MGTA	2.62	0.19	0.00	(0.19)	3.40	(3.33)	5.88	(4.29)	16.99
GNCAQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TCON	6.84	(1.89)	0.00	(4.58)	0.00	0.00	19.59	(17.77)	52.05

Immuron Corporate Management

CPA CPA	Chief Officer	Profile
BBus CA	CFO Sec	Profile
Dan Peres	Chief Officer	Profile
Flavio Palumbo	Chief Officer	Profile
David Lyon	Head Marketing	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC