Nutriband Correlations

NTRB Stock

USD 4.94 0.04 0.80%

The current 90-days correlation between Nutriband and Revelation Biosciences is -0.04 (i.e., Good diversification). The correlation of Nutriband 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.

Nutriband Correlation With Market

Significant diversification

The correlation between Nutriband and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nutriband 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 Nutriband. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Nutriband Stock

0.69	BMEA	Biomea Fusion	Pair Corr
0.67	CVS	CVS Health Corp Aggressive Push	Pair Corr

Moving against Nutriband Stock

0.58	STOK	Stoke Therapeutics	Pair Corr
0.56	VRPX	Virpax Pharmaceuticals	Pair Corr
0.46	VRAX	Virax Biolabs Group	Pair Corr
0.37	BDRX	Biodexa Pharmaceticals Upward Rally	Pair Corr
0.35	RNXT	RenovoRx	Pair Corr
0.31	LGVN	Longeveron LLC	Pair Corr
0.34	BKRKF	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	REVB	VRAX	NRBO	BDRX
REVB		0.8	0.47	0.71	REVB
VRAX	0.8		0.68	0.91	VRAX
NRBO	0.47	0.68		0.83	NRBO
BDRX	0.71	0.91	0.83		BDRX
	REVB	VRAX	NRBO	BDRX

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Risk-Adjusted Indicators

There is a big difference between Nutriband Stock performing well and Nutriband 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 Nutriband'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	6.03	0.09	0.03	0.12	7.23	(11.38)	10.53	(9.01)	141.15
VRAX	7.34	(0.21)	0.00	0.87	0.00	0.00	14.20	(13.45)	98.84
NRBO	3.39	(0.79)	0.00	(0.23)	0.00	0.00	6.76	(7.34)	25.62
BDRX	6.29	(1.75)	0.00	(0.57)	0.00	0.00	8.36	(17.24)	97.78

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