Puma Biotechnology Correlations

PBYI Stock

USD 6.37 0.01 0.16%

The current 90-days correlation between Puma Biotechnology and Eledon Pharmaceuticals is 0.52 (i.e., Very weak diversification). The correlation of Puma Biotechnology 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.

Puma Biotechnology Correlation With Market

Significant diversification

The correlation between Puma Biotechnology 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 Puma Biotechnology and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Puma Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Puma Biotechnology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

For more detail on how to invest in Puma Stock please use our How to Invest in Puma Biotechnology guide.

Moving together with Puma Stock

0.75	ATI	Allegheny Technologies	Pair Corr
0.67	ACR-PC	ACRES Commercial Realty	Pair Corr
0.82	MCHP	Microchip Technology	Pair Corr
0.8	ACN	Accenture plc	Pair Corr
0.64	BAC	Bank of America	Pair Corr
0.64	JPM	JPMorgan Chase	Pair Corr
0.61	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.68	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against Puma Stock

0.69	LIPO	Lipella Pharmaceuticals	Pair Corr
0.53	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	ELDN	ABEO	VYGR	AVIR	ARCT	ALLO	HUMA	TRDA	SGMT
ELDN		0.07	0.62	-0.03	0.53	-0.58	0.76	-0.81	0.68	ELDN
ABEO	0.07		0.38	0.33	0.38	0.38	0.23	0.07	-0.28	ABEO
VYGR	0.62	0.38		-0.24	0.87	-0.37	0.84	-0.71	0.5	VYGR
AVIR	-0.03	0.33	-0.24		-0.16	0.31	-0.37	0.18	-0.33	AVIR
ARCT	0.53	0.38	0.87	-0.16		-0.33	0.79	-0.73	0.45	ARCT
ALLO	-0.58	0.38	-0.37	0.31	-0.33		-0.51	0.76	-0.7	ALLO
HUMA	0.76	0.23	0.84	-0.37	0.79	-0.51		-0.83	0.7	HUMA
TRDA	-0.81	0.07	-0.71	0.18	-0.73	0.76	-0.83		-0.84	TRDA
SGMT	0.68	-0.28	0.5	-0.33	0.45	-0.7	0.7	-0.84		SGMT
	ELDN	ABEO	VYGR	AVIR	ARCT	ALLO	HUMA	TRDA	SGMT

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

ARCT	+ 0.87	VYGR
HUMA	+ 0.84	VYGR
HUMA	+ 0.79	ARCT
HUMA	+ 0.76	ELDN
TRDA	+ 0.76	ALLO
SGMT	+ 0.7	HUMA

High negative correlations

SGMT	- 0.84	TRDA
TRDA	- 0.83	HUMA
TRDA	- 0.81	ELDN
TRDA	- 0.73	ARCT
TRDA	- 0.71	VYGR
SGMT	- 0.7	ALLO

Risk-Adjusted Indicators

There is a big difference between Puma Stock performing well and Puma Biotechnology 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 Puma Biotechnology'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
ELDN	4.60	(0.10)	(0.01)	0.01	9.73	(4.76)	10.06	(7.95)	70.46
ABEO	2.90	0.05	0.00	0.24	3.45	(3.07)	6.16	(5.49)	26.76
VYGR	2.62	(0.29)	0.00	0.77	0.00	0.00	4.58	(6.35)	17.43
AVIR	1.92	0.22	0.03	(0.42)	3.05	(1.96)	4.64	(3.27)	17.80
ARCT	4.31	(1.11)	0.00	(1.32)	0.00	0.00	7.42	(7.02)	59.77
ALLO	3.52	0.39	0.09	0.61	3.23	(5.12)	9.76	(5.93)	21.23
HUMA	3.50	(0.85)	0.00	(0.27)	0.00	0.00	6.19	(8.13)	18.85
TRDA	2.84	1.00	0.34	(43.01)	2.12	(3.49)	6.98	(4.08)	15.00
SGMT	3.35	(0.41)	0.00	(0.07)	0.00	0.00	6.39	(7.51)	36.94

Puma Biotechnology Corporate Management

Jeffrey Ludwig	Chief Officer	Profile
Roger Storms	Senior Sales	Profile
Alvin Pharmd	Chief Officer	Profile
Heather Blaber	Senior Marketing	Profile
FRAPS BSc	Pharmacovigilance, Affairs	Profile

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