Akebia Ther Correlations

AKBA Stock

USD 2.08 0.02 0.97%

The current 90-days correlation between Akebia Ther and Cidara Therapeutics is 0.2 (i.e., Modest diversification). The correlation of Akebia Ther 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.

Akebia Ther Correlation With Market

Weak diversification

The correlation between Akebia Ther and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Akebia Ther and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Akebia Ther. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For information on how to trade Akebia Stock refer to our How to Trade Akebia Stock guide.

Moving together with Akebia Stock

0.78	VTRS	Viatris	Pair Corr
0.76	ESPR	Esperion Therapeutics	Pair Corr
0.76	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr
0.73	GILD	Gilead Sciences	Pair Corr
0.83	MNMD	Mind Medicine	Pair Corr
0.78	CPRX	Catalyst Pharmaceuticals	Pair Corr

Moving against Akebia Stock

0.91	ZTS	Zoetis Inc	Pair Corr
0.84	HLN	Haleon plc	Pair Corr
0.82	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.81	LLY	Eli Lilly Sell-off Trend	Pair Corr
0.8	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.79	RDY	Dr Reddys Laboratories	Pair Corr
0.79	TAK	Takeda Pharmaceutical	Pair Corr
0.74	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.43	ELAN	Elanco Animal Health Potential Growth	Pair Corr
0.85	ANRO	Alto Neuroscience,	Pair Corr
0.65	AMGN	Amgen Inc	Pair Corr
0.65	ANEB	Anebulo Pharmaceuticals	Pair Corr
0.53	LTRN	Lantern Pharma	Pair Corr
0.51	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.44	ABBV	AbbVie Inc	Pair Corr
0.43	CTLT	Catalent	Pair Corr
0.36	TEVA	Teva Pharma Industries Sell-off Trend	Pair Corr
0.35	DRMAW	Dermata Therapeutics	Pair Corr

Related Correlations Analysis

	PLX	CDTX	XFOR	MCRB	AVRO	CWBR	OCEA	ENVB	ELEV	HEPA
PLX		0.87	-0.75	-0.3	0.74	0.4	-0.85	-0.78	-0.15	-0.23	PLX
CDTX	0.87		-0.65	-0.29	0.71	0.3	-0.75	-0.64	0.17	-0.02	CDTX
XFOR	-0.75	-0.65		0.62	-0.6	-0.65	0.69	0.67	0.31	0.32	XFOR
MCRB	-0.3	-0.29	0.62		-0.53	-0.54	0.44	0.26	0.01	0.18	MCRB
AVRO	0.74	0.71	-0.6	-0.53		0.36	-0.73	-0.36	0.05	-0.13	AVRO
CWBR	0.4	0.3	-0.65	-0.54	0.36		-0.46	-0.48	-0.37	-0.43	CWBR
OCEA	-0.85	-0.75	0.69	0.44	-0.73	-0.46		0.75	0.18	0.36	OCEA
ENVB	-0.78	-0.64	0.67	0.26	-0.36	-0.48	0.75		0.35	0.37	ENVB
ELEV	-0.15	0.17	0.31	0.01	0.05	-0.37	0.18	0.35		0.68	ELEV
HEPA	-0.23	-0.02	0.32	0.18	-0.13	-0.43	0.36	0.37	0.68		HEPA
	PLX	CDTX	XFOR	MCRB	AVRO	CWBR	OCEA	ENVB	ELEV	HEPA

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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

CDTX	+ 0.87	PLX
ENVB	+ 0.75	OCEA
AVRO	+ 0.74	PLX
AVRO	+ 0.71	CDTX
OCEA	+ 0.69	XFOR
HEPA	+ 0.68	ELEV

High negative correlations

OCEA	- 0.85	PLX
ENVB	- 0.78	PLX
OCEA	- 0.75	CDTX
XFOR	- 0.75	PLX
OCEA	- 0.73	AVRO
CWBR	- 0.65	XFOR

Risk-Adjusted Indicators

There is a big difference between Akebia Stock performing well and Akebia Ther 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 Akebia Ther'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
PLX	3.13	1.12	0.28	(1.37)	2.37	(4.14)	10.00	(5.56)	20.38
CDTX	2.85	0.70	0.22	1.87	2.50	(3.76)	7.38	(3.84)	25.29
XFOR	5.04	(0.48)	0.00	(0.23)	0.00	0.00	8.82	(10.61)	62.35
MCRB	4.93	0.32	0.04	1.12	5.57	(5.97)	10.84	(9.78)	28.84
AVRO	1.77	0.20	0.01	(0.30)	1.89	(2.24)	4.11	(3.17)	14.20
CWBR	7.34	2.79	0.33	(0.85)	5.34	(11.19)	5.73	(5.59)	250.97
OCEA	3.51	(0.36)	0.00	(0.81)	0.00	0.00	7.46	(6.06)	28.33
ENVB	3.25	(0.61)	0.00	(3.83)	0.00	0.00	6.25	(7.50)	28.33
ELEV	3.51	(0.48)	0.00	(0.11)	0.00	0.00	5.77	(8.22)	22.21
HEPA	3.75	(0.37)	0.00	(0.12)	0.00	0.00	8.06	(8.11)	33.54

Akebia Ther Corporate Management

Nicole Hadas	Sr. VP, General Counsel and Secretary	Profile
Kristie Bolieau	VP Controller	Profile
Mercedes Carrasco	Director Communications	Profile
David Spellman	CFO VP	Profile
Tracey Vetterick	Vice Administration	Profile
Thierry Bilbault	VP Devel	Profile

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