NanoViricides Correlations

NNVC Stock

USD 0.96 0.02 2.13%

The current 90-days correlation between NanoViricides and Jasper Therapeutics is 0.3 (i.e., Weak diversification). The correlation of NanoViricides 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.

NanoViricides Correlation With Market

Excellent diversification

The correlation between NanoViricides and DJI is -0.57 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NanoViricides and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NanoViricides Stock

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

For information on how to trade NanoViricides Stock refer to our How to Trade NanoViricides Stock guide.

Moving together with NanoViricides Stock

0.67	OSE	OSE Pharma SA	Pair Corr
0.71	RAC	Race Oncology	Pair Corr
0.81	VCYT	Veracyte	Pair Corr
0.64	DXB	Dimerix	Pair Corr
0.63	DTIL	Precision BioSciences	Pair Corr
0.78	BIM	Biomerieux SA	Pair Corr

Moving against NanoViricides Stock

0.73	CMB	Cambium Bio	Pair Corr
0.7	DNTH	Dianthus Therapeutics Buyout Trend	Pair Corr
0.62	EQ	Equillium	Pair Corr
0.62	DNLI	Denali Therapeutics	Pair Corr
0.57	GXEA	Galapagos NV	Pair Corr
0.53	JUMP	Leveljump Healthcare Corp	Pair Corr
0.52	8VP1	AVRICORE HEALTH INC	Pair Corr
0.5	VALN	Valneva SE ADR	Pair Corr
0.41	2CG	NANOSPHERE HEASCIENCES	Pair Corr
0.78	6C1	CytomX Therapeutics Earnings Call Today	Pair Corr
0.74	PYC	Physiomics Plc	Pair Corr
0.71	DRTS	Alpha Tau Medical Earnings Call Today	Pair Corr
0.66	0P6S	Bayer AG NA	Pair Corr
0.64	DSGN	Design Therapeutics	Pair Corr
0.55	AVH	Avita Medical	Pair Corr
0.44	SAB	Sonic Healthcare	Pair Corr
0.31	SABSW	SAB Biotherapeutics	Pair Corr
0.79	DVAX	Dynavax Technologies	Pair Corr
0.73	SRZNW	Surrozen Warrant	Pair Corr
0.53	ALA	Arovella Therapeutics	Pair Corr
0.42	NANO	Nanobiotix SA	Pair Corr
0.33	75J	LEVELJUMP HEALTHCARE	Pair Corr

Related Correlations Analysis

	VRCA	JSPR	SABS	GBIO	EVAX	IGC	QTTB	MAIA	ANTX	TENX
VRCA		0.83	-0.2	-0.48	0.76	0.59	-0.74	-0.47	0.4	-0.03	VRCA
JSPR	0.83		-0.33	-0.65	0.79	0.74	-0.72	-0.56	0.17	-0.26	JSPR
SABS	-0.2	-0.33		0.2	-0.44	-0.31	0.23	0.51	0.14	0.37	SABS
GBIO	-0.48	-0.65	0.2		-0.65	-0.71	0.64	0.54	-0.24	0.33	GBIO
EVAX	0.76	0.79	-0.44	-0.65		0.87	-0.79	-0.69	0.37	-0.3	EVAX
IGC	0.59	0.74	-0.31	-0.71	0.87		-0.63	-0.57	0.34	-0.32	IGC
QTTB	-0.74	-0.72	0.23	0.64	-0.79	-0.63		0.69	-0.22	0.26	QTTB
MAIA	-0.47	-0.56	0.51	0.54	-0.69	-0.57	0.69		0.07	0.53	MAIA
ANTX	0.4	0.17	0.14	-0.24	0.37	0.34	-0.22	0.07		0.54	ANTX
TENX	-0.03	-0.26	0.37	0.33	-0.3	-0.32	0.26	0.53	0.54		TENX
	VRCA	JSPR	SABS	GBIO	EVAX	IGC	QTTB	MAIA	ANTX	TENX

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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

IGC	+ 0.87	EVAX
JSPR	+ 0.83	VRCA
EVAX	+ 0.79	JSPR
EVAX	+ 0.76	VRCA
IGC	+ 0.74	JSPR
MAIA	+ 0.69	QTTB

High negative correlations

QTTB	- 0.79	EVAX
QTTB	- 0.74	VRCA
QTTB	- 0.72	JSPR
IGC	- 0.71	GBIO
MAIA	- 0.69	EVAX
EVAX	- 0.65	GBIO

Risk-Adjusted Indicators

There is a big difference between NanoViricides Stock performing well and NanoViricides 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 NanoViricides' 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
VRCA	4.31	(0.18)	0.00	(0.08)	0.00	0.00	11.14	(9.24)	52.65
JSPR	4.05	(0.19)	0.00	(2.00)	0.00	0.00	7.89	(8.06)	31.75
SABS	2.61	0.02	(0.01)	(0.04)	3.42	(2.89)	5.35	(5.80)	16.22
GBIO	1.60	0.07	0.01	(0.16)	2.17	(1.89)	3.39	(3.99)	14.01
EVAX	4.42	(0.64)	0.00	0.98	0.00	0.00	7.10	(8.42)	37.88
IGC	2.74	(0.08)	0.00	6.95	0.00	0.00	6.90	(5.71)	25.10
QTTB	5.18	1.69	0.31	(1.78)	4.06	(6.92)	9.56	(7.66)	85.16
MAIA	6.32	0.97	0.09	(3.54)	8.81	(6.44)	12.60	(14.03)	53.49
ANTX	2.61	(0.02)	(0.01)	0.01	3.15	(3.34)	5.56	(4.58)	32.31
TENX	3.76	0.46	0.10	1.18	4.17	(4.23)	8.74	(5.86)	34.37

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