Novo Nordisk Correlations

NVO Stock

USD 85.34 1.31 1.56%

The current 90-days correlation between Novo Nordisk AS and Regeneron Pharmaceuticals is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Novo Nordisk moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Novo Nordisk AS moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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

Moving together with Novo Stock

0.69	JNJ	Johnson Johnson	Pair Corr
0.73	INZY	Inozyme Pharma	Pair Corr
0.8	KRYS	Krystal Biotech	Pair Corr
0.7	MREO	Mereo BioPharma Group	Pair Corr
0.62	NKTX	Nkarta Inc	Pair Corr
0.78	PDSB	PDS Biotechnology Corp	Pair Corr
0.77	PLRX	Pliant Therapeutics	Pair Corr
0.79	ABOS	Acumen Pharmaceuticals	Pair Corr
0.69	ADAP	Adaptimmune Therapeutics	Pair Corr
0.83	AFMD	Affimed NV	Pair Corr
0.75	AGIO	Agios Pharm	Pair Corr
0.63	AMGN	Amgen Inc Earnings Call This Week	Pair Corr
0.78	AMLX	Amylyx Pharmaceuticals	Pair Corr
0.8	STOK	Stoke Therapeutics	Pair Corr
0.67	BDTX	Black Diamond Therap	Pair Corr
0.86	TERN	Terns Pharmaceuticals Buyout Trend	Pair Corr
0.88	CRVS	Corvus Pharmaceuticals	Pair Corr
0.72	DAWN	Day One Biopharmaceu	Pair Corr
0.66	ACET	Adicet Bio	Pair Corr

Moving against Novo Stock

0.68	MLAB	Mesa Laboratories Earnings Call This Week	Pair Corr
0.38	GILD	Gilead Sciences Earnings Call This Week	Pair Corr
0.35	INKT	Mink Therapeutics	Pair Corr
0.45	BPMC	Blueprint Medicines Corp Sell-off Trend	Pair Corr
0.42	CDXS	Codexis	Pair Corr
0.61	MNPR	Monopar Therapeutics	Pair Corr
0.55	DNA	Ginkgo Bioworks Holdings Upward Rally	Pair Corr

Related Correlations Analysis

	REGN	CRSP	SRPT	NTLA	MRNA	CVAC	NVAX	CWBR	RETA	BNTX
REGN		0.62	0.38	0.81	0.83	-0.56	0.41	-0.6	-0.12	-0.32	REGN
CRSP	0.62		0.21	0.84	0.52	-0.62	0.07	-0.44	-0.36	-0.2	CRSP
SRPT	0.38	0.21		0.29	0.55	0.03	0.58	0.34	0.14	0.49	SRPT
NTLA	0.81	0.84	0.29		0.64	-0.72	0.15	-0.54	-0.39	-0.33	NTLA
MRNA	0.83	0.52	0.55	0.64		-0.33	0.68	-0.41	0.06	0.03	MRNA
CVAC	-0.56	-0.62	0.03	-0.72	-0.33		0.29	0.52	0.67	0.6	CVAC
NVAX	0.41	0.07	0.58	0.15	0.68	0.29		0.03	0.45	0.5	NVAX
CWBR	-0.6	-0.44	0.34	-0.54	-0.41	0.52	0.03		0.22	0.65	CWBR
RETA	-0.12	-0.36	0.14	-0.39	0.06	0.67	0.45	0.22		0.28	RETA
BNTX	-0.32	-0.2	0.49	-0.33	0.03	0.6	0.5	0.65	0.28		BNTX
	REGN	CRSP	SRPT	NTLA	MRNA	CVAC	NVAX	CWBR	RETA	BNTX

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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

NTLA	+ 0.84	CRSP
MRNA	+ 0.83	REGN
NTLA	+ 0.81	REGN
NVAX	+ 0.68	MRNA
RETA	+ 0.67	CVAC
BNTX	+ 0.65	CWBR

High negative correlations

CVAC	- 0.72	NTLA
CVAC	- 0.62	CRSP
CWBR	- 0.6	REGN
CVAC	- 0.56	REGN
CWBR	- 0.54	NTLA
CWBR	- 0.44	CRSP

Risk-Adjusted Indicators

There is a big difference between Novo Stock performing well and Novo Nordisk 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 Novo Nordisk'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
REGN	1.40	(0.48)	0.00	(2.25)	0.00	0.00	1.96	(3.63)	9.61
CRSP	2.66	(0.11)	0.00	1.44	0.00	0.00	6.28	(5.90)	17.42
SRPT	1.84	(0.19)	0.00	(0.30)	0.00	0.00	3.38	(4.19)	18.92
NTLA	3.69	(1.01)	0.00	(0.60)	0.00	0.00	5.18	(8.26)	22.98
MRNA	3.57	(0.35)	0.00	(0.43)	0.00	0.00	7.48	(9.07)	28.46
CVAC	3.38	0.56	0.15	0.56	3.37	(4.02)	8.71	(4.87)	32.27
NVAX	3.28	(0.17)	0.00	(0.13)	0.00	0.00	8.15	(7.46)	22.04
CWBR	7.34	2.62	0.33	(1.15)	5.34	(11.19)	5.73	(5.59)	250.97
RETA	2.22	0.22	0.03	(0.58)	3.31	(2.35)	5.24	(3.51)	28.80
BNTX	2.38	0.14	0.03	0.44	2.87	(2.56)	5.55	(4.92)	14.16

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Novo Nordisk Correlations

Moving together with Novo Stock

Moving against Novo Stock

Related Correlations Analysis

Correlation Matchups

Risk-Adjusted Indicators

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