Lexaria Bioscience Correlations

LEXX Stock

USD 2.08 0.01 0.48%

The current 90-days correlation between Lexaria Bioscience Corp and Immix Biopharma is -0.01 (i.e., Good 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

Modest diversification

The correlation between Lexaria Bioscience Corp and DJI is 0.22 (i.e., Modest 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.

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 interest.

Moving together with Lexaria Stock

0.67	ELAN	Elanco Animal Health	Pair Corr
0.85	HLN	Haleon plc	Pair Corr
0.83	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.86	LLY	Eli Lilly	Pair Corr
0.92	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.78	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.89	RDY	Dr Reddys Laboratories	Pair Corr
0.89	TAK	Takeda Pharmaceutical	Pair Corr
0.78	ZTS	Zoetis Inc	Pair Corr
0.7	LTRN	Lantern Pharma	Pair Corr
0.77	AMGN	Amgen Inc	Pair Corr
0.63	ANEB	Anebulo Pharmaceuticals	Pair Corr
0.86	ANRO	Alto Neuroscience,	Pair Corr

Moving against Lexaria Stock

0.86	BMY	Bristol Myers Squibb Sell-off Trend	Pair Corr
0.84	GILD	Gilead Sciences	Pair Corr
0.78	ESPR	Esperion Therapeutics Buyout Trend	Pair Corr
0.78	EWTX	Edgewise Therapeutics	Pair Corr
0.7	BHC	Bausch Health Companies	Pair Corr
0.68	VTRS	Viatris	Pair Corr
0.62	BFRIW	Biofrontera Warrants	Pair Corr
0.61	EBS	Emergent Biosolutions	Pair Corr
0.6	WAT	Waters	Pair Corr
0.47	GANX	Gain Therapeutics	Pair Corr
0.31	BCTXW	BriaCell Therapeutics	Pair Corr
0.76	CPRX	Catalyst Pharmaceuticals	Pair Corr
0.74	BSX	Boston Scientific Corp Sell-off Trend	Pair Corr
0.71	MNMD	Mind Medicine	Pair Corr
0.65	DXCM	DexCom Inc Sell-off Trend	Pair Corr
0.5	ABT	Abbott Laboratories Sell-off Trend	Pair Corr
0.4	CMND	Clearmind Medicine Common	Pair Corr
0.36	MOLN	Molecular Partners	Pair Corr
0.32	NBIX	Neurocrine Biosciences	Pair Corr

Related Correlations Analysis

	REVB	ZURA	PHIO	ZVSA	RNAZ	IMMX	CNSP	EFTR	NAVB	SONN
REVB		0.27	-0.08	0.43	-0.42	0.54	0.48	0.62	0.65	0.33	REVB
ZURA	0.27		0.42	0.38	0.51	-0.24	0.08	0.16	-0.26	0.32	ZURA
PHIO	-0.08	0.42		0.44	0.24	-0.19	0.27	-0.03	-0.12	0.6	PHIO
ZVSA	0.43	0.38	0.44		0.09	0.12	0.56	0.46	0.5	0.82	ZVSA
RNAZ	-0.42	0.51	0.24	0.09		-0.75	-0.35	-0.21	-0.72	-0.08	RNAZ
IMMX	0.54	-0.24	-0.19	0.12	-0.75		0.5	0.47	0.76	0.18	IMMX
CNSP	0.48	0.08	0.27	0.56	-0.35	0.5		0.39	0.63	0.71	CNSP
EFTR	0.62	0.16	-0.03	0.46	-0.21	0.47	0.39		0.57	0.23	EFTR
NAVB	0.65	-0.26	-0.12	0.5	-0.72	0.76	0.63	0.57		0.47	NAVB
SONN	0.33	0.32	0.6	0.82	-0.08	0.18	0.71	0.23	0.47		SONN
	REVB	ZURA	PHIO	ZVSA	RNAZ	IMMX	CNSP	EFTR	NAVB	SONN

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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

SONN	+ 0.82	ZVSA
NAVB	+ 0.76	IMMX
SONN	+ 0.71	CNSP
NAVB	+ 0.65	REVB
NAVB	+ 0.63	CNSP
EFTR	+ 0.62	REVB

High negative correlations

IMMX	- 0.75	RNAZ
NAVB	- 0.72	RNAZ
RNAZ	- 0.42	REVB
CNSP	- 0.35	RNAZ
NAVB	- 0.26	ZURA
IMMX	- 0.24	ZURA

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
REVB	3.68	(0.43)	0.00	0.93	0.00	0.00	8.97	(7.83)	34.52
ZURA	3.81	(0.65)	0.00	(0.17)	0.00	0.00	7.95	(7.94)	26.70
PHIO	4.59	0.00	0.00	0.13	5.56	(5.53)	11.78	(9.23)	36.22
ZVSA	3.98	(0.81)	0.00	0.50	0.00	0.00	7.57	(9.60)	78.93
RNAZ	8.17	1.11	0.10	(0.56)	6.97	(12.15)	22.00	(11.43)	68.80
IMMX	4.34	(0.06)	(0.01)	0.08	4.54	(5.61)	9.38	(8.22)	32.68
CNSP	4.45	(0.37)	0.00	(0.28)	0.00	0.00	9.09	(8.33)	39.29
EFTR	7.57	(5.30)	0.00	(0.79)	0.00	0.00	8.70	(27.78)	88.91
NAVB	6.04	(1.04)	0.00	2.21	0.00	0.00	12.50	(12.50)	40.40
SONN	4.74	(0.93)	0.00	1.59	0.00	0.00	12.31	(9.79)	37.58

Lexaria Bioscience Corporate Management

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

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