Amneal Pharmaceuticals, Correlations

AMRX Stock

USD 8.27 0.00 0.00%

The current 90-days correlation between Amneal Pharmaceuticals, and Alkermes Plc is -0.06 (i.e., Good diversification). The correlation of Amneal 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Amneal Pharmaceuticals, Correlation With Market

Very good diversification

The correlation between Amneal Pharmaceuticals, Class and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amneal Pharmaceuticals, Class 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 Amneal Pharmaceuticals, Class. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Amneal Stock

0.63	AZN	AstraZeneca PLC ADR	Pair Corr
0.84	BMY	Bristol Myers Squibb	Pair Corr
0.74	SNY	Sanofi ADR	Pair Corr
0.64	AMGN	Amgen Inc	Pair Corr

Moving against Amneal Stock

0.67	CDIOW	Cardio Diagnostics	Pair Corr
0.66	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.65	IMMX	Immix Biopharma	Pair Corr
0.64	ELVN	Enliven Therapeutics	Pair Corr
0.64	ZURA	Zura Bio Limited	Pair Corr
0.63	VINC	Vincerx Pharma	Pair Corr
0.59	ELEV	Elevation Oncology	Pair Corr
0.59	IMRX	Immuneering Corp	Pair Corr
0.51	LYRA	Lyra Therapeutics	Pair Corr
0.46	ZVSA	ZyVersa Therapeutics	Pair Corr
0.45	GPCR	Structure Therapeutics	Pair Corr
0.43	OCEAW	Ocean Biomedical	Pair Corr
0.75	PMVP	Pmv Pharmaceuticals	Pair Corr
0.75	CELC	Celcuity LLC	Pair Corr
0.71	CDIO	Cardio Diagnostics	Pair Corr
0.66	CNSP	Cns Pharmaceuticals Earnings Call This Week	Pair Corr
0.63	ASMB	Assembly Biosciences	Pair Corr
0.6	CGEM	Cullinan Oncology LLC	Pair Corr
0.57	ATNF	180 Life Sciences	Pair Corr
0.57	CMND	Clearmind Medicine Common	Pair Corr
0.57	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.55	PYXS	Pyxis Oncology	Pair Corr
0.47	SCLX	Scilex Holding	Pair Corr
0.36	PHIO	Phio Pharmaceuticals Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ALKS	NBIX	ITCI	DCPH	DVAX	AMPH	COLL	IRWD	ANIP	PAHC
ALKS		-0.77	0.69	0.0	0.7	-0.82	-0.42	-0.87	0.62	0.65	ALKS
NBIX	-0.77		-0.36	0.0	-0.7	0.81	0.58	0.68	-0.49	-0.45	NBIX
ITCI	0.69	-0.36		0.0	0.43	-0.66	0.19	-0.79	0.67	0.39	ITCI
DCPH	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	DCPH
DVAX	0.7	-0.7	0.43	0.0		-0.82	-0.58	-0.74	0.56	0.24	DVAX
AMPH	-0.82	0.81	-0.66	0.0	-0.82		0.44	0.9	-0.74	-0.43	AMPH
COLL	-0.42	0.58	0.19	0.0	-0.58	0.44		0.32	-0.05	-0.25	COLL
IRWD	-0.87	0.68	-0.79	0.0	-0.74	0.9	0.32		-0.72	-0.56	IRWD
ANIP	0.62	-0.49	0.67	0.0	0.56	-0.74	-0.05	-0.72		0.33	ANIP
PAHC	0.65	-0.45	0.39	0.0	0.24	-0.43	-0.25	-0.56	0.33		PAHC
	ALKS	NBIX	ITCI	DCPH	DVAX	AMPH	COLL	IRWD	ANIP	PAHC

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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

IRWD	+ 0.9	AMPH
AMPH	+ 0.81	NBIX
DVAX	+ 0.7	ALKS
ITCI	+ 0.69	ALKS
IRWD	+ 0.68	NBIX
ANIP	+ 0.67	ITCI

High negative correlations

IRWD	- 0.87	ALKS
AMPH	- 0.82	DVAX
AMPH	- 0.82	ALKS
IRWD	- 0.79	ITCI
NBIX	- 0.77	ALKS
ANIP	- 0.74	AMPH

Risk-Adjusted Indicators

There is a big difference between Amneal Stock performing well and Amneal 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 Amneal Pharmaceuticals,'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
ALKS	1.34	0.18	0.13	0.36	1.25	(1.65)	3.78	(2.48)	10.24
NBIX	1.47	(0.22)	0.00	1.09	0.00	0.00	1.83	(3.11)	20.72
ITCI	1.56	0.71	0.83	(29.22)	0.00	(1.78)	1.77	(1.34)	34.42
DCPH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DVAX	1.09	0.09	0.06	0.45	1.45	(1.13)	2.36	(2.05)	7.23
AMPH	1.54	(0.48)	0.00	(1.07)	0.00	0.00	3.23	(4.12)	14.01
COLL	1.71	0.02	0.01	0.04	1.86	(1.91)	3.47	(3.02)	18.67
IRWD	4.12	(1.05)	0.00	(0.46)	0.00	0.00	5.67	(10.26)	52.86
ANIP	1.65	0.28	0.15	(0.65)	1.77	(1.93)	3.04	(2.99)	18.94
PAHC	2.16	(0.01)	0.00	0.01	2.96	(2.23)	3.84	(5.81)	17.81

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