Lexaria Bioscience Correlations

LEXX Stock

USD 0.62 0.02 3.13%

The current 90-days correlation between Lexaria Bioscience Corp and Hoth Therapeutics is 0.19 (i.e., Average diversification). The correlation of Lexaria Bioscience is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Lexaria Bioscience Correlation With Market

Excellent diversification

The correlation between Lexaria Bioscience Corp and DJI is -0.62 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lexaria Bioscience Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Lexaria Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Lexaria Bioscience Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in median.

Moving together with Lexaria Stock

0.78	DRMA	Dermata Therapeutics	Pair Corr
0.77	DTIL	Precision BioSciences	Pair Corr

Moving against Lexaria Stock

0.75	EQ	Equillium	Pair Corr
0.67	VERA	Vera Therapeutics Sell-off Trend	Pair Corr
0.63	DRTS	Alpha Tau Medical	Pair Corr
0.52	DRUG	Bright Minds Biosciences	Pair Corr
0.51	DSGN	Design Therapeutics	Pair Corr
0.5	GXEA	Galapagos NV Earnings Call Next Week	Pair Corr
0.45	6C1	CytomX Therapeutics	Pair Corr
0.32	8VP1	AVRICORE HEALTH INC	Pair Corr
0.32	DXB	Dimerix Earnings Call Next Week	Pair Corr
0.72	VNDA	Vanda Pharmaceuticals	Pair Corr
0.67	VTVT	vTv Therapeutics	Pair Corr
0.65	NP5	NEWRON PHARMACEUT	Pair Corr
0.64	VRTX	Vertex Pharmaceuticals	Pair Corr
0.63	0P6S	Bayer AG NA	Pair Corr
0.61	HDP1	Arrowhead Pharmaceuticals	Pair Corr
0.54	DVAX	Dynavax Technologies Earnings Call This Week	Pair Corr
0.44	SRZNW	Surrozen Warrant	Pair Corr

Related Correlations Analysis

	HOTH	ALLR	LIXT	ENTO	CLSD	CING	BCTX	CASI	PCSA	CRIS
HOTH		0.75	0.74	0.07	0.58	-0.81	0.79	0.42	0.83	0.72	HOTH
ALLR	0.75		0.48	0.28	0.58	-0.58	0.48	0.44	0.53	0.28	ALLR
LIXT	0.74	0.48		-0.1	0.74	-0.9	0.78	0.37	0.79	0.65	LIXT
ENTO	0.07	0.28	-0.1		0.21	0.1	-0.28	0.58	0.19	-0.02	ENTO
CLSD	0.58	0.58	0.74	0.21		-0.73	0.51	0.6	0.63	0.28	CLSD
CING	-0.81	-0.58	-0.9	0.1	-0.73		-0.79	-0.33	-0.76	-0.64	CING
BCTX	0.79	0.48	0.78	-0.28	0.51	-0.79		0.18	0.76	0.76	BCTX
CASI	0.42	0.44	0.37	0.58	0.6	-0.33	0.18		0.58	0.2	CASI
PCSA	0.83	0.53	0.79	0.19	0.63	-0.76	0.76	0.58		0.81	PCSA
CRIS	0.72	0.28	0.65	-0.02	0.28	-0.64	0.76	0.2	0.81		CRIS
	HOTH	ALLR	LIXT	ENTO	CLSD	CING	BCTX	CASI	PCSA	CRIS

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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

PCSA	+ 0.83	HOTH
CRIS	+ 0.81	PCSA
BCTX	+ 0.79	HOTH
PCSA	+ 0.79	LIXT
BCTX	+ 0.78	LIXT
PCSA	+ 0.76	BCTX

High negative correlations

CING	- 0.9	LIXT
CING	- 0.81	HOTH
BCTX	- 0.79	CING
PCSA	- 0.76	CING
CING	- 0.73	CLSD
CRIS	- 0.64	CING

Risk-Adjusted Indicators

There is a big difference between Lexaria Stock performing well and Lexaria Bioscience 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 Lexaria Bioscience'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
HOTH	2.90	(0.36)	0.00	(0.17)	0.00	0.00	5.83	(5.79)	13.03
ALLR	3.64	(0.53)	0.00	(0.34)	0.00	0.00	7.07	(7.29)	19.54
LIXT	3.66	(0.44)	0.00	(1.28)	0.00	0.00	8.48	(8.43)	20.41
ENTO	7.46	0.00	0.00	0.06	0.00	0.00	16.86	(17.06)	39.61
CLSD	6.75	(3.00)	0.00	(97.92)	0.00	0.00	7.96	(17.54)	83.67
CING	3.77	0.77	0.16	0.45	4.59	(3.96)	8.45	(6.75)	24.88
BCTX	6.43	(0.87)	0.00	(0.61)	0.00	0.00	13.53	(8.91)	98.43
CASI	3.90	(0.60)	0.00	(0.58)	0.00	0.00	11.84	(7.69)	35.41
PCSA	8.18	(0.77)	0.00	4.31	0.00	0.00	10.24	(14.08)	164.28
CRIS	4.16	(0.17)	0.00	(0.02)	0.00	0.00	10.62	(8.13)	33.70

Lexaria Bioscience Corporate Management

Christopher Bunka	Chairman CEO	Profile
Vanessa Carle	Head Legal	Profile
Philip Ainslie	Advisor Consultant	Profile
Nelson CPA	Chief Officer	Profile
MS MD	Chief Board	Profile
CPA CMA	Chief Officer	Profile
Richard Christopher	Chief Officer	Profile

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