Protagenic Therapeutics Correlations

PTIX Stock

USD 0.38 0.04 9.52%

The current 90-days correlation between Protagenic Therapeutics and Zivo Bioscience is 0.07 (i.e., Significant diversification). The correlation of Protagenic Therapeutics 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.

Protagenic Therapeutics Correlation With Market

Good diversification

The correlation between Protagenic Therapeutics and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Protagenic Therapeutics and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Protagenic Stock

0.71	INZY	Inozyme Pharma	Pair Corr
0.63	KRYS	Krystal Biotech	Pair Corr
0.66	MREO	Mereo BioPharma Group	Pair Corr
0.67	PDSB	PDS Biotechnology Corp	Pair Corr
0.7	ABOS	Acumen Pharmaceuticals	Pair Corr
0.61	ADAP	Adaptimmune Therapeutics	Pair Corr
0.73	AFMD	Affimed NV	Pair Corr
0.62	AGIO	Agios Pharm	Pair Corr
0.74	AMLX	Amylyx Pharmaceuticals	Pair Corr
0.61	STOK	Stoke Therapeutics	Pair Corr
0.72	TERN	Terns Pharmaceuticals Buyout Trend	Pair Corr
0.66	CRVS	Corvus Pharmaceuticals	Pair Corr
0.69	DAWN	Day One Biopharmaceu	Pair Corr

Moving against Protagenic Stock

0.68	MLAB	Mesa Laboratories Earnings Call This Week	Pair Corr
0.31	GILD	Gilead Sciences Earnings Call This Week	Pair Corr
0.52	BPMC	Blueprint Medicines Corp Sell-off Trend	Pair Corr
0.34	PTCT	PTC Therapeutics	Pair Corr
0.71	AVAL	Grupo Aval	Pair Corr
0.7	MNPR	Monopar Therapeutics	Pair Corr
0.64	FNMFO	Federal National Mortgage	Pair Corr
0.54	CIB	Bancolombia SA ADR	Pair Corr
0.42	ITCL	Banco Ita Chile	Pair Corr

Related Correlations Analysis

	SBHMY	ZIVO	CYT	ELDN	RZLT	XOMAO	TPST	AVTE	ADAG
SBHMY		0.9	-0.61	0.04	0.46	-0.78	0.24	0.04	0.7	SBHMY
ZIVO	0.9		-0.59	-0.1	0.38	-0.73	0.21	-0.03	0.61	ZIVO
CYT	-0.61	-0.59		-0.08	-0.25	0.4	0.04	-0.12	-0.4	CYT
ELDN	0.04	-0.1	-0.08		0.18	0.06	0.0	0.65	0.11	ELDN
RZLT	0.46	0.38	-0.25	0.18		-0.04	0.82	-0.04	0.69	RZLT
XOMAO	-0.78	-0.73	0.4	0.06	-0.04		0.09	-0.16	-0.27	XOMAO
TPST	0.24	0.21	0.04	0.0	0.82	0.09		-0.18	0.57	TPST
AVTE	0.04	-0.03	-0.12	0.65	-0.04	-0.16	-0.18		-0.23	AVTE
ADAG	0.7	0.61	-0.4	0.11	0.69	-0.27	0.57	-0.23		ADAG
	SBHMY	ZIVO	CYT	ELDN	RZLT	XOMAO	TPST	AVTE	ADAG

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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

ZIVO	+ 0.9	SBHMY
TPST	+ 0.82	RZLT
ADAG	+ 0.7	SBHMY
ADAG	+ 0.69	RZLT
AVTE	+ 0.65	ELDN
ADAG	+ 0.61	ZIVO

High negative correlations

XOMAO	- 0.78	SBHMY
XOMAO	- 0.73	ZIVO
CYT	- 0.61	SBHMY
CYT	- 0.59	ZIVO
ADAG	- 0.4	CYT
ADAG	- 0.27	XOMAO

Risk-Adjusted Indicators

There is a big difference between Protagenic Stock performing well and Protagenic Therapeutics 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 Protagenic Therapeutics' 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
SBHMY	0.80	(0.32)	0.00	1.88	0.00	0.00	0.14	(3.80)	9.00
ZIVO	3.01	(0.57)	0.00	0.71	0.00	0.00	5.31	(6.67)	36.36
CYT	2.76	0.61	0.13	(1.25)	2.57	(3.47)	10.00	(5.26)	36.14
ELDN	4.07	0.54	0.11	1.10	4.06	(5.07)	10.98	(6.84)	28.12
RZLT	2.86	(0.09)	0.00	(0.05)	0.00	0.00	6.80	(5.95)	19.56
XOMAO	0.23	0.01	(0.28)	(0.61)	0.24	(0.27)	0.52	(0.52)	1.48
TPST	3.20	(0.23)	0.00	(0.04)	0.00	0.00	5.56	(8.42)	24.26
AVTE	1.98	0.37	0.15	8.85	1.55	(2.89)	5.53	(3.10)	18.16
ADAG	3.72	(0.52)	0.00	2.80	0.00	0.00	5.26	(8.33)	41.45

Protagenic Therapeutics Corporate Executives

Elected by the shareholders, the Protagenic Therapeutics' board of directors comprises two types of representatives: Protagenic Therapeutics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Protagenic. The board's role is to monitor Protagenic Therapeutics' management team and ensure that shareholders' interests are well served. Protagenic Therapeutics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Protagenic Therapeutics' outside directors are responsible for providing unbiased perspectives on the board's policies.

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