NovaBay Pharmaceuticals Correlations
| NBY Stock | USD 0.67 0.03 4.69% |
The current 90-days correlation between NovaBay Pharmaceuticals and Cns Pharmaceuticals is -0.06 (i.e., Good diversification). The correlation of NovaBay Pharmaceuticals 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.
NovaBay Pharmaceuticals Correlation With Market
Good diversification
The correlation between NovaBay Pharmaceuticals and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NovaBay Pharmaceuticals and DJI in the same portfolio, assuming nothing else is changed.
NovaBay |
Moving against NovaBay Stock
| 0.36 | ESPR | Esperion Therapeutics | PairCorr |
| 0.31 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.53 | LFCR | Lifecore Biomedical | PairCorr |
| 0.43 | TELO | Telomir Pharmaceuticals, | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between NovaBay Stock performing well and NovaBay Pharmaceuticals 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 NovaBay Pharmaceuticals' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IMMX | 4.42 | 0.39 | 0.06 | 10.84 | 4.83 | 9.38 | 33.17 | |||
| CNSP | 4.19 | (0.24) | 0.00 | 0.34 | 0.00 | 10.00 | 24.15 | |||
| EFTR | 7.57 | (4.75) | 0.00 | (1.74) | 0.00 | 8.70 | 88.91 | |||
| NAVB | 6.04 | (1.10) | 0.00 | 10.79 | 0.00 | 12.50 | 40.40 | |||
| SONN | 4.99 | (1.68) | 0.00 | 761.57 | 0.00 | 9.38 | 44.37 | |||
| ZVSA | 5.44 | (0.42) | 0.00 | (0.06) | 0.00 | 13.76 | 78.93 | |||
| VECT | 2.63 | 1.16 | 0.57 | (1.46) | 0.88 | 5.61 | 39.30 | |||
| AVRO | 1.77 | 0.14 | 0.03 | 3.12 | 1.89 | 4.11 | 14.20 | |||
| ZURA | 4.46 | (1.20) | 0.00 | 3.63 | 0.00 | 9.21 | 25.04 | |||
| CYTO | 4.99 | (2.16) | 0.00 | (5.01) | 0.00 | 7.32 | 38.46 |
NovaBay Pharmaceuticals Corporate Executives
Elected by the shareholders, the NovaBay Pharmaceuticals' board of directors comprises two types of representatives: NovaBay Pharmaceuticals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NovaBay. The board's role is to monitor NovaBay Pharmaceuticals' management team and ensure that shareholders' interests are well served. NovaBay Pharmaceuticals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, NovaBay Pharmaceuticals' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Andrew Jones | Chief Financial Officer, Treasurer | Profile |