Rafarma Pharmaceuticals Correlations

RAFA Stock

USD 0.09 0 4.40%

The current 90-days correlation between Rafarma Pharmaceuticals and INC Research Holdings is -0.01 (i.e., Good diversification). The correlation of Rafarma Pharmaceuticals 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.

Rafarma Pharmaceuticals Correlation With Market

Good diversification

The correlation between Rafarma Pharmaceuticals and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rafarma Pharmaceuticals and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Rafarma Pharmaceuticals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Rafarma Pharmaceuticals when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Rafarma Pharmaceuticals - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Rafarma Pharmaceuticals to buy it.

Moving together with Rafarma Pink Sheet

0.72	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.65	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.69	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.7	CSCO	Cisco Systems Sell-off Trend	Pair Corr

Moving against Rafarma Pink Sheet

0.86	HLN	Haleon plc	Pair Corr
0.85	HLNCF	Haleon plc	Pair Corr
0.76	TAK	Takeda Pharmaceutical	Pair Corr
0.68	MKGAF	MERCK Kommanditgesells	Pair Corr
0.66	MKKGY	Merck KGaA ADR	Pair Corr
0.58	NSFDF	NXT Energy Solutions	Pair Corr
0.55	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.5	ZTLLF	Zonetail	Pair Corr
0.44	TKPHF	Takeda Pharmaceutical	Pair Corr
0.89	KO	Coca Cola Aggressive Push	Pair Corr
0.85	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.75	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.61	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.34	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.33	PG	Procter Gamble Sell-off Trend	Pair Corr

Related Correlations Analysis

	HENC	YCBD	EOLS	CVSI	AKAN	BFRI	COLL	ANIP	INCR
HENC		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HENC
YCBD	0.0		0.01	0.16	0.3	0.34	0.07	0.31	0.41	YCBD
EOLS	0.0	0.01		0.54	0.63	0.39	0.82	0.08	0.71	EOLS
CVSI	0.0	0.16	0.54		0.52	0.28	0.55	0.22	0.61	CVSI
AKAN	0.0	0.3	0.63	0.52		0.65	0.85	0.27	0.85	AKAN
BFRI	0.0	0.34	0.39	0.28	0.65		0.49	0.21	0.61	BFRI
COLL	0.0	0.07	0.82	0.55	0.85	0.49		0.27	0.82	COLL
ANIP	0.0	0.31	0.08	0.22	0.27	0.21	0.27		0.34	ANIP
INCR	0.0	0.41	0.71	0.61	0.85	0.61	0.82	0.34		INCR
	HENC	YCBD	EOLS	CVSI	AKAN	BFRI	COLL	ANIP	INCR

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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

COLL	+ 0.85	AKAN
INCR	+ 0.85	AKAN
COLL	+ 0.82	EOLS
INCR	+ 0.82	COLL
INCR	+ 0.71	EOLS
BFRI	+ 0.65	AKAN

High negative correlations

INCR	- 0.0	HENC
ANIP	- 0.0	HENC
COLL	- 0.0	HENC
BFRI	- 0.0	HENC
AKAN	- 0.0	HENC
CVSI	- 0.0	HENC

Risk-Adjusted Indicators

There is a big difference between Rafarma Pink Sheet performing well and Rafarma Pharmaceuticals 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 Rafarma Pharmaceuticals' 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
HENC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
YCBD	3.18	0.11	(0.03)	(0.01)	3.69	(4.58)	6.82	(7.41)	28.60
EOLS	2.54	(0.28)	0.00	(0.21)	0.00	0.00	5.06	(4.70)	22.78
CVSI	4.25	(0.04)	0.00	0.09	6.71	(15.69)	25.00	(20.00)	45.00
AKAN	3.54	(0.53)	0.00	(0.23)	0.00	0.00	8.00	(6.67)	22.55
BFRI	6.21	0.41	0.00	(0.07)	7.25	(7.22)	14.63	(11.70)	46.72
COLL	1.87	(0.43)	0.00	(0.24)	0.00	0.00	3.23	(4.47)	12.29
ANIP	1.94	(0.28)	0.00	(0.10)	0.00	0.00	3.70	(3.75)	10.82
INCR	2.96	(0.78)	0.00	(1.38)	0.00	0.00	5.79	(6.88)	29.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Rafarma Pharmaceuticals without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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