Amneal Pharmaceuticals, Correlations

AMRX Stock

USD 8.43 0.07 0.82%

The current 90-days correlation between Amneal Pharmaceuticals, and Alkermes Plc is 0.32 (i.e., Weak 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

Average diversification

The correlation between Amneal Pharmaceuticals, Class and DJI is 0.19 (i.e., Average 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 against Amneal Stock

0.5	XFOR	X4 Pharmaceuticals	Pair Corr
0.38	NAMSW	NewAmsterdam Pharma	Pair Corr
0.52	BNTC	Benitec Biopharma	Pair Corr
0.34	BEAM	Beam Therapeutics Downward Rally	Pair Corr

Related Correlations Analysis

	ALKS	NBIX	ITCI	DCPH	DVAX	AMPH	COLL	IRWD	ANIP	PAHC
ALKS		-0.42	0.61	0.0	0.49	-0.61	-0.18	-0.77	0.47	0.46	ALKS
NBIX	-0.42		0.13	0.0	-0.08	-0.03	0.52	0.39	-0.02	-0.65	NBIX
ITCI	0.61	0.13		0.0	0.21	-0.77	0.43	-0.68	0.55	0.11	ITCI
DCPH	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	DCPH
DVAX	0.49	-0.08	0.21	0.0		-0.4	-0.31	-0.41	0.08	0.04	DVAX
AMPH	-0.61	-0.03	-0.77	0.0	-0.4		-0.03	0.55	-0.24	0.02	AMPH
COLL	-0.18	0.52	0.43	0.0	-0.31	-0.03		0.06	0.33	-0.17	COLL
IRWD	-0.77	0.39	-0.68	0.0	-0.41	0.55	0.06		-0.56	-0.58	IRWD
ANIP	0.47	-0.02	0.55	0.0	0.08	-0.24	0.33	-0.56		0.58	ANIP
PAHC	0.46	-0.65	0.11	0.0	0.04	0.02	-0.17	-0.58	0.58		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

ITCI	+ 0.61	ALKS
PAHC	+ 0.58	ANIP
ANIP	+ 0.55	ITCI
IRWD	+ 0.55	AMPH
COLL	+ 0.52	NBIX
DVAX	+ 0.49	ALKS

High negative correlations

AMPH	- 0.77	ITCI
IRWD	- 0.77	ALKS
IRWD	- 0.68	ITCI
PAHC	- 0.65	NBIX
AMPH	- 0.61	ALKS
PAHC	- 0.58	IRWD

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	1.30	0.37	0.30	0.51	0.93	(1.57)	4.82	(2.21)	9.12
NBIX	1.42	0.01	0.00	0.04	3.59	(1.36)	2.74	(2.46)	23.54
ITCI	1.69	0.74	0.69	(9.98)	0.00	(2.01)	2.51	(2.16)	34.42
DCPH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DVAX	0.90	0.21	0.16	2.17	1.03	(0.99)	1.97	(1.92)	6.85
AMPH	1.37	(0.48)	0.00	(2.51)	0.00	0.00	2.24	(4.12)	10.11
COLL	1.75	(0.05)	0.00	(0.13)	0.00	0.00	3.07	(3.32)	18.67
IRWD	4.28	(0.93)	0.00	(0.67)	0.00	0.00	6.21	(10.26)	54.21
ANIP	1.38	(0.01)	0.00	(0.02)	0.00	0.00	2.64	(3.49)	8.50
PAHC	1.85	(0.05)	0.00	(0.04)	0.00	0.00	3.68	(5.07)	17.07

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