Novavax Correlations

NVAX Stock

USD 8.42 0.55 6.13%

The current 90-days correlation between Novavax and CureVac NV is -0.02 (i.e., Good diversification). The correlation of Novavax 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.

Novavax Correlation With Market

Poor diversification

The correlation between Novavax and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Novavax and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Novavax Stock

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

For more information on how to buy Novavax Stock please use our How to Invest in Novavax guide.

Moving together with Novavax Stock

0.76	ENGN	enGene Holdings Common	Pair Corr
0.63	MRKR	Marker Therapeutics	Pair Corr
0.71	ANNX	Annexon	Pair Corr
0.64	SLDB	Solid Biosciences LLC	Pair Corr
0.86	AVCR	Avricore Health	Pair Corr
0.63	BOLT	Bolt Biotherapeutics	Pair Corr
0.76	TNGX	Tango Therapeutics	Pair Corr

Moving against Novavax Stock

0.82	DWTX	Dogwood Therapeutics	Pair Corr
0.82	ABP	Abpro Holdings	Pair Corr
0.8	KURA	Kura Oncology	Pair Corr
0.8	LYRA	Lyra Therapeutics	Pair Corr
0.74	GNLX	Genelux Common	Pair Corr
0.58	EDIT	Editas Medicine Earnings Call This Week	Pair Corr
0.45	IMRN	Immuron Ltd ADR	Pair Corr
0.39	QSI	QuantumSi	Pair Corr
0.34	LRMR	Larimar Therapeutics	Pair Corr
0.31	EVGN	Evogene	Pair Corr
0.8	PRQR	ProQR Therapeutics Earnings Call This Week	Pair Corr
0.72	MREO	Mereo BioPharma Group	Pair Corr
0.62	ACXP	Acurx Pharmaceuticals LLC	Pair Corr
0.56	MBIO	Mustang Bio	Pair Corr
0.38	PROK	ProKidney Corp	Pair Corr
0.33	AURA	Aura Biosciences	Pair Corr
0.39	GSD	Devonian Health Group Split	Pair Corr

Related Correlations Analysis

	CVAC	ZBIO	TERN	UPB	WVE	TRVI	NTLA	PGEN	NKTR	ORIC
CVAC		0.59	-0.26	-0.14	-0.19	0.46	-0.73	-0.51	0.51	-0.04	CVAC
ZBIO	0.59		-0.18	-0.18	-0.12	0.74	-0.76	-0.64	0.62	-0.09	ZBIO
TERN	-0.26	-0.18		0.3	0.88	0.11	0.21	0.15	-0.46	-0.75	TERN
UPB	-0.14	-0.18	0.3		0.36	0.01	0.34	0.01	-0.66	-0.1	UPB
WVE	-0.19	-0.12	0.88	0.36		0.15	0.22	0.13	-0.48	-0.71	WVE
TRVI	0.46	0.74	0.11	0.01	0.15		-0.61	-0.66	0.44	-0.35	TRVI
NTLA	-0.73	-0.76	0.21	0.34	0.22	-0.61		0.6	-0.64	0.26	NTLA
PGEN	-0.51	-0.64	0.15	0.01	0.13	-0.66	0.6		-0.44	0.01	PGEN
NKTR	0.51	0.62	-0.46	-0.66	-0.48	0.44	-0.64	-0.44		0.26	NKTR
ORIC	-0.04	-0.09	-0.75	-0.1	-0.71	-0.35	0.26	0.01	0.26		ORIC
	CVAC	ZBIO	TERN	UPB	WVE	TRVI	NTLA	PGEN	NKTR	ORIC

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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

WVE	+ 0.88	TERN
TRVI	+ 0.74	ZBIO
NKTR	+ 0.62	ZBIO
PGEN	+ 0.6	NTLA
ZBIO	+ 0.59	CVAC
NKTR	+ 0.51	CVAC

High negative correlations

NTLA	- 0.76	ZBIO
ORIC	- 0.75	TERN
NTLA	- 0.73	CVAC
ORIC	- 0.71	WVE
PGEN	- 0.66	TRVI
NKTR	- 0.66	UPB

Risk-Adjusted Indicators

There is a big difference between Novavax Stock performing well and Novavax 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 Novavax'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
CVAC	1.22	(0.25)	0.00	(0.28)	0.00	0.00	3.33	(2.80)	18.10
ZBIO	5.71	0.27	0.01	(0.09)	11.46	(5.40)	12.20	(11.66)	68.95
TERN	3.96	1.32	0.39	(4.96)	2.51	(5.09)	8.22	(5.57)	43.41
UPB	4.17	(0.59)	0.00	(0.69)	0.00	0.00	7.84	(11.50)	57.85
WVE	6.08	1.85	0.34	(0.82)	4.09	(8.40)	6.72	(6.18)	164.47
TRVI	2.91	(0.01)	0.00	0.06	3.06	(3.91)	6.73	(5.03)	25.67
NTLA	3.71	0.22	0.08	0.15	4.21	(4.12)	10.12	(6.81)	23.60
PGEN	3.89	0.40	0.07	0.93	4.65	(4.33)	7.57	(7.08)	38.64
NKTR	4.68	0.58	0.11	0.99	4.90	(5.30)	8.03	(7.77)	32.58
ORIC	2.98	(0.30)	0.00	(0.17)	0.00	0.00	8.28	(6.13)	20.28

Novavax Corporate Management

Mark Esq	Chief VP	Profile
Mark Casey	Chief VP	Profile
JD Esq	Senior Officer	Profile
Robert MD	Senior Officer	Profile

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