Mayne Pharma Correlations
| MAYNF Stock | USD 2.62 0.01 0.38% |
The current 90-days correlation between Mayne Pharma Group and Bristol Myers Squibb is 0.07 (i.e., Significant diversification). The correlation of Mayne Pharma 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.
Mayne Pharma Correlation With Market
Significant diversification
The correlation between Mayne Pharma Group and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mayne Pharma Group and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Mayne Pharma could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mayne Pharma when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Mayne Pharma - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Mayne Pharma Group to buy it.
Moving together with Mayne Pink Sheet
| 0.62 | AA | Alcoa Corp | PairCorr |
| 0.68 | MCD | McDonalds Earnings Call This Week | PairCorr |
| 0.72 | VZ | Verizon Communications | PairCorr |
Moving against Mayne Pink Sheet
| 0.56 | MNPR | Monopar Therapeutics | PairCorr |
| 0.41 | EXCH | Exchange Bankshares | PairCorr |
| 0.64 | MMM | 3M Company | PairCorr |
| 0.53 | JPM | JPMorgan Chase | PairCorr |
| 0.44 | GE | GE Aerospace | PairCorr |
| 0.41 | CSCO | Cisco Systems | PairCorr |
| 0.4 | DNA | Ginkgo Bioworks Holdings Upward Rally | PairCorr |
Related Correlations Analysis
| -0.49 | -0.49 | 0.47 | -0.37 | -0.42 | BMY | ||
| -0.49 | 0.56 | 0.0 | 0.6 | 0.71 | ABBV | ||
| -0.49 | 0.56 | -0.2 | 0.42 | 0.36 | MRK | ||
| 0.47 | 0.0 | -0.2 | -0.35 | -0.2 | GILD | ||
| -0.37 | 0.6 | 0.42 | -0.35 | 0.88 | JNJ | ||
| -0.42 | 0.71 | 0.36 | -0.2 | 0.88 | AMGN | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Mayne Pink Sheet performing well and Mayne Pharma 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 Mayne Pharma'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BMY | 1.29 | 0.19 | 0.07 | 4.57 | 1.37 | 3.18 | 14.38 | |||
| ABBV | 1.23 | (0.09) | 0.00 | (0.39) | 0.00 | 2.37 | 18.93 | |||
| MRK | 1.03 | (0.11) | 0.00 | (0.43) | 0.00 | 2.00 | 5.24 | |||
| GILD | 1.00 | 0.12 | 0.04 | 0.50 | 1.35 | 1.94 | 10.79 | |||
| JNJ | 0.81 | (0.15) | 0.00 | (0.54) | 0.00 | 1.78 | 5.78 | |||
| AMGN | 1.10 | (0.20) | 0.00 | (0.23) | 0.00 | 1.85 | 8.60 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Mayne Pharma without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Mayne Pharma Corporate Management
| Kimberly JD | Exec Counsel | Profile | |
| Shawn BSc | MD CEO | Profile | |
| Hemanshu Pandya | VP Division | Profile | |
| Daniel Moore | Ex Solutions | Profile | |
| Aaron Gray | Chief Officer | Profile | |
| Brant Schofield | Exec Devel | Profile |