XOMA Correlations

Preferred Stocks . USA . 
Preferred Stock . XOMA Corporation
XOMAO Preferred Stock  USD 25.33  0.01  0.04%   
The current 90-days correlation between XOMA and XOMA Corp is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as XOMA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if XOMA Corporation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

XOMA Correlation With Market

Significant diversification

The correlation between XOMA Corp. and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding XOMA Corp. and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to XOMA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace XOMA 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 XOMA - 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 XOMA Corporation to buy it.

Moving together with XOMA Preferred Stock

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  0.92GRCE Grace Therapeutics, Symbol ChangePairCorr

Moving against XOMA Preferred Stock

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  0.76FNCH Finch TherapeuticsPairCorr
  0.72CEROW CERo Therapeutics Symbol ChangePairCorr
  0.71EMMA Emmaus Life SciencesPairCorr
  0.69CYCCP Cyclacel PharmaceuticalsPairCorr
  0.68ENSCW Ensysce BiosciencesPairCorr
  0.56FBIOP Fortress Biotech PrefPairCorr
  0.51DWTX Dogwood Therapeutics, Symbol ChangePairCorr
  0.41EFTR Effector TherapeuticsPairCorr
  0.35IRD Opus Genetics, Symbol ChangePairCorr
  0.32PZRXQ PhaseRxPairCorr
  0.32HURA TuHURA Biosciences Symbol ChangePairCorr
  0.31ENZN Enzon PharmaceuticalsPairCorr
  0.88PBLA Panbela TherapeuticsPairCorr
  0.83OTLC Oncotelic TherapeuticsPairCorr
  0.8KRBP Kiromic BiopharmaPairCorr
  0.71LADX LadRxPairCorr
  0.69NAVB Navidea BiopharmaceuticaPairCorr
  0.68NEXI NeximmunePairCorr
  0.66ZIVO Zivo BiosciencePairCorr
  0.66ORGS OrgenesisPairCorr
  0.62NWBO Northwest BiotherapeuticsPairCorr
  0.57SLXNW Biomotion SciencesPairCorr
  0.43IMUC ImmunoCellular TherapeuticsPairCorr
  0.43MRVT Miravant Medical TecPairCorr
  0.37PKBO Ignyte Acquisition CorpPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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

Be your own money manager

Our tools can tell you how much better you can do entering a position in XOMA 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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