XOMA Corp Correlations

Preferred Stocks . USA . 
Preferred Stock . XOMA Corp
XOMAP Preferred Stock  USD 25.69  0.18  0.70%   
The current 90-days correlation between XOMA Corp and SiriusPoint is -0.13 (i.e., Good diversification). The correlation of XOMA Corp 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.

XOMA Corp Correlation With Market

Good diversification

The correlation between XOMA Corp and DJI is -0.05 (i.e., Good 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 Corp 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 Corp 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 Corp - 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 Corp to buy it.

Moving together with XOMA Preferred Stock

  0.69FRTX Fresh Tracks TherapeuticsPairCorr
  0.86GRCE Grace Therapeutics, Symbol ChangePairCorr

Moving against XOMA Preferred Stock

  0.86HRGN Harvard ApparatusPairCorr
  0.77FNCH Finch TherapeuticsPairCorr
  0.71EMMA Emmaus Life SciencesPairCorr
  0.71CEROW CERo Therapeutics Symbol ChangePairCorr
  0.68ENSCW Ensysce BiosciencesPairCorr
  0.66CYCCP Cyclacel PharmaceuticalsPairCorr
  0.49FBIOP Fortress Biotech PrefPairCorr
  0.44ELOX Eloxx PharmaceuticalsPairCorr
  0.42DWTX Dogwood Therapeutics, Symbol ChangePairCorr
  0.39EFTR Effector TherapeuticsPairCorr
  0.36EXAI Exscientia ADRPairCorr
  0.34HURA TuHURA Biosciences Symbol ChangePairCorr
  0.31EVFM Evofem BiosciencesPairCorr
  0.9PBLA Panbela TherapeuticsPairCorr
  0.79OTLC Oncotelic TherapeuticsPairCorr
  0.75NAVB Navidea BiopharmaceuticaPairCorr
  0.73KRBP Kiromic BiopharmaPairCorr
  0.67LADX LadRxPairCorr
  0.64NWBO Northwest BiotherapeuticsPairCorr
  0.64SLXNW Biomotion SciencesPairCorr
  0.61NEXI NeximmunePairCorr
  0.61ORGS OrgenesisPairCorr
  0.6ZIVO Zivo BiosciencePairCorr
  0.43IMUC ImmunoCellular TherapeuticsPairCorr
  0.39PKBO Ignyte Acquisition CorpPairCorr
  0.32MRVT Miravant Medical TecPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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