Alvotech Correlations

ALVO Stock

USD 12.99 0.21 1.64%

The current 90-days correlation between Alvotech and Assertio Therapeutics is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Alvotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alvotech moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Alvotech Correlation With Market

Good diversification

The correlation between Alvotech and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alvotech 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 Alvotech. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

To learn how to invest in Alvotech Stock, please use our How to Invest in Alvotech guide.

Moving together with Alvotech Stock

0.61

DUOT

Duos Technologies

Pair Corr

Moving against Alvotech Stock

0.75	AMCCF	Amcor plc	Pair Corr
0.68	FDMT	4D Molecular Therapeutics	Pair Corr
0.64	APVO	Aptevo Therapeutics	Pair Corr
0.55	INVA	Innoviva	Pair Corr
0.33	JNJ	Johnson Johnson	Pair Corr
0.75	HDVTY	Henderson Investment	Pair Corr
0.64	UIS	Unisys Earnings Call This Week	Pair Corr
0.32	ORGN	Origin Materials	Pair Corr

Related Correlations Analysis

	ITCI	CTLT	AMPH	ASRT	ANIP	ALKS	RDY	COLL	PCRX
ITCI		0.0	-0.7	-0.67	0.48	0.55	-0.44	0.64	0.88	ITCI
CTLT	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	CTLT
AMPH	-0.7	0.0		0.68	0.0	-0.48	0.04	-0.16	-0.82	AMPH
ASRT	-0.67	0.0	0.68		-0.12	-0.19	-0.02	-0.37	-0.6	ASRT
ANIP	0.48	0.0	0.0	-0.12		0.5	-0.64	0.38	0.43	ANIP
ALKS	0.55	0.0	-0.48	-0.19	0.5		-0.53	0.12	0.73	ALKS
RDY	-0.44	0.0	0.04	-0.02	-0.64	-0.53		-0.21	-0.47	RDY
COLL	0.64	0.0	-0.16	-0.37	0.38	0.12	-0.21		0.4	COLL
PCRX	0.88	0.0	-0.82	-0.6	0.43	0.73	-0.47	0.4		PCRX
	ITCI	CTLT	AMPH	ASRT	ANIP	ALKS	RDY	COLL	PCRX

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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

PCRX	+ 0.88	ITCI
PCRX	+ 0.73	ALKS
ASRT	+ 0.68	AMPH
COLL	+ 0.64	ITCI
ALKS	+ 0.55	ITCI
ALKS	+ 0.5	ANIP

High negative correlations

PCRX	- 0.82	AMPH
AMPH	- 0.7	ITCI
ASRT	- 0.67	ITCI
RDY	- 0.64	ANIP
PCRX	- 0.6	ASRT
RDY	- 0.53	ALKS

Risk-Adjusted Indicators

There is a big difference between Alvotech Stock performing well and Alvotech 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 Alvotech'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
ITCI	1.76	0.60	0.40	(11.38)	0.88	(2.15)	2.51	(2.32)	34.42
CTLT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AMPH	1.39	(0.66)	0.00	(1.09)	0.00	0.00	2.13	(4.24)	10.11
ASRT	2.73	0.04	0.01	0.47	2.86	(3.65)	5.95	(4.00)	21.93
ANIP	1.37	(0.06)	0.00	(0.09)	0.00	0.00	2.64	(3.49)	7.45
ALKS	1.43	0.34	0.23	0.50	1.22	(1.67)	4.82	(2.44)	7.97
RDY	1.14	(0.16)	0.00	(0.50)	0.00	0.00	1.90	(2.57)	10.15
COLL	1.83	(0.10)	0.00	(0.27)	0.00	0.00	3.07	(3.39)	17.80
PCRX	2.31	0.63	0.24	6.11	2.10	(2.58)	5.32	(3.67)	18.06

Alvotech Corporate Management

Christina Siniscalchi	Interim Officer	Profile
Ming Li	Chief Officer	Profile
Sandra Casaca	Chief Officer	Profile
RoseMarie Ohlsson	Chief Officer	Profile
Anil Okay	Chief Officer	Profile
Giedrius Zunda	Chief Officer	Profile
Sean Gaskell	Chief Officer	Profile

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