Puma Biotechnology Correlations

PBYI Stock

USD 6.94 0.15 2.21%

The current 90-days correlation between Puma Biotechnology and Eledon Pharmaceuticals is 0.04 (i.e., Significant 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

Very poor diversification

The correlation between Puma Biotechnology and DJI is 0.86 (i.e., Very poor 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 producer price index.

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

0.72	DSGN	Design Therapeutics	Pair Corr
0.72	ENGN	enGene Holdings Common	Pair Corr
0.83	IMMP	Immutep Ltd ADR	Pair Corr
0.84	MRKR	Marker Therapeutics	Pair Corr
0.62	RCKT	Rocket Pharmaceuticals	Pair Corr
0.72	AVE	Avecho Biotechnology	Pair Corr
0.86	ANNX	Annexon	Pair Corr
0.79	SLDB	Solid Biosciences LLC	Pair Corr
0.7	AVCR	Avricore Health	Pair Corr
0.75	BOLT	Bolt Biotherapeutics	Pair Corr
0.72	TNGX	Tango Therapeutics	Pair Corr
0.8	CADL	Candel Therapeutics	Pair Corr

Moving against Puma Stock

0.9	ABP	Abpro Holdings	Pair Corr
0.84	DWTX	Dogwood Therapeutics	Pair Corr
0.83	GNLX	Genelux Common	Pair Corr
0.82	IMRN	Immuron Ltd ADR	Pair Corr
0.81	KURA	Kura Oncology	Pair Corr
0.76	EDIT	Editas Medicine	Pair Corr
0.75	LYRA	Lyra Therapeutics	Pair Corr
0.63	QSI	QuantumSi	Pair Corr
0.58	EVGN	Evogene	Pair Corr
0.82	MBIO	Mustang Bio	Pair Corr
0.82	ACXP	Acurx Pharmaceuticals LLC	Pair Corr
0.75	PRQR	ProQR Therapeutics	Pair Corr
0.72	MREO	Mereo BioPharma Group	Pair Corr
0.5	PROK	ProKidney Corp	Pair Corr
0.33	GSD	Devonian Health Group Split	Pair Corr

Related Correlations Analysis

	ELDN	ABEO	VYGR	AVIR	ARCT	ALLO	HUMA	TRDA	SGMT
ELDN		0.16	-0.32	0.67	0.67	0.42	-0.21	0.04	0.04	ELDN
ABEO	0.16		-0.08	0.38	0.05	0.44	-0.23	0.44	-0.55	ABEO
VYGR	-0.32	-0.08		-0.51	0.26	-0.42	0.66	-0.32	0.39	VYGR
AVIR	0.67	0.38	-0.51		0.16	0.64	-0.67	0.41	-0.46	AVIR
ARCT	0.67	0.05	0.26	0.16		-0.1	0.44	-0.48	0.46	ARCT
ALLO	0.42	0.44	-0.42	0.64	-0.1		-0.57	0.79	-0.64	ALLO
HUMA	-0.21	-0.23	0.66	-0.67	0.44	-0.57		-0.63	0.63	HUMA
TRDA	0.04	0.44	-0.32	0.41	-0.48	0.79	-0.63		-0.81	TRDA
SGMT	0.04	-0.55	0.39	-0.46	0.46	-0.64	0.63	-0.81		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

TRDA	+ 0.79	ALLO
AVIR	+ 0.67	ELDN
ARCT	+ 0.67	ELDN
HUMA	+ 0.66	VYGR
ALLO	+ 0.64	AVIR
SGMT	+ 0.63	HUMA

High negative correlations

SGMT	- 0.81	TRDA
HUMA	- 0.67	AVIR
SGMT	- 0.64	ALLO
TRDA	- 0.63	HUMA
HUMA	- 0.57	ALLO
SGMT	- 0.55	ABEO

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	3.49	(0.28)	0.00	(0.06)	0.00	0.00	7.43	(7.95)	20.18
ABEO	2.99	0.25	0.08	0.23	3.36	(3.25)	6.16	(5.48)	26.76
VYGR	2.55	(0.39)	0.00	(0.22)	0.00	0.00	4.58	(5.35)	19.71
AVIR	2.32	0.36	0.09	0.56	3.17	(2.38)	5.54	(4.43)	17.79
ARCT	3.04	(0.43)	0.00	(0.11)	0.00	0.00	6.53	(6.44)	15.98
ALLO	4.19	0.54	0.12	0.38	4.29	(5.46)	12.38	(7.48)	26.97
HUMA	3.82	(0.88)	0.00	(0.29)	0.00	0.00	8.16	(8.13)	21.58
TRDA	2.98	0.67	0.22	0.91	2.65	(3.67)	6.65	(4.08)	18.48
SGMT	3.35	(0.59)	0.00	(0.30)	0.00	0.00	6.08	(8.53)	23.02

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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