Nexgel Correlations

Stocks . USA . 
Stock . Nexgel Inc
NXGL Stock  USD 3.37  0.05  1.51%   
The current 90-days correlation between Nexgel Inc and EUDA Health Holdings is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nexgel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nexgel Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nexgel Correlation With Market

Average diversification

The correlation between Nexgel Inc and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexgel Inc 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 Nexgel Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Nexgel Stock

  0.65FOXO FOXO TechnologiesPairCorr
  0.65VMD Viemed HealthcarePairCorr
  0.64ITGR Integer Holdings CorpPairCorr
  0.73EXEL ExelixisPairCorr
  0.66BMY Bristol Myers Squibb Sell-off TrendPairCorr

Moving against Nexgel Stock

  0.76EVH Evolent HealthPairCorr
  0.71AGL agilon health Buyout TrendPairCorr
  0.63PHG Koninklijke PhilipsPairCorr
  0.61AMN AMN Healthcare ServicesPairCorr
  0.56FIGS Figs IncPairCorr
  0.41FORA Forian IncPairCorr
  0.4CVS CVS Health Corp Aggressive PushPairCorr
  0.82ME 23Andme HoldingPairCorr
  0.7A Agilent TechnologiesPairCorr
  0.56DOMH Dominari HoldingsPairCorr
  0.52ATPC Agape ATPPairCorr
  0.48VALN Valneva SE ADRPairCorr
  0.47ADUS Addus HomeCarePairCorr
  0.43CYRX CryoportPairCorr
  0.78HLN Haleon plcPairCorr
  0.7MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.7PFE Pfizer Inc Aggressive PushPairCorr
  0.58LLY Eli Lilly Sell-off TrendPairCorr
  0.55EXAS EXACT SciencesPairCorr
  0.55JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.45TIL Instil BioPairCorr

Related Correlations Analysis

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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   
HCTI
+ 0.69
BEAT
HCTI
+ 0.62
NUTX
ACON
+ 0.5
EUDA
NUTX
+ 0.45
BEAT
EUDA
+ 0.41
BEAT
HCTI
+ 0.4
EUDA
  
High negative correlations   
MGRX
- 0.62
HCTI
MGRX
- 0.48
NUTX
MGRX
- 0.42
EUDA
MGRX
- 0.42
BEAT
ACON
- 0.09
NUTX
ACON
- 0.06
HCTI

Risk-Adjusted Indicators

There is a big difference between Nexgel Stock performing well and Nexgel 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 Nexgel'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.

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