Anixa Biosciences Correlations

ANIX Stock

USD 3.16 0.01 0.32%

The current 90-days correlation between Anixa Biosciences and Cue Biopharma is -0.09 (i.e., Good diversification). The correlation of Anixa Biosciences 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.

Anixa Biosciences Correlation With Market

Modest diversification

The correlation between Anixa Biosciences and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Anixa Biosciences 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 Anixa Biosciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more information on how to buy Anixa Stock please use our How to Invest in Anixa Biosciences guide.

Moving together with Anixa Stock

0.62	CPIX	Cumberland Pharmaceuticals	Pair Corr
0.79	FNA	Paragon 28	Pair Corr
0.74	INMD	InMode	Pair Corr
0.68	LUCD	Lucid Diagnostics	Pair Corr
0.82	NVRO	Nevro Corp	Pair Corr
0.64	TMCI	Treace Medical Concepts	Pair Corr

Moving against Anixa Stock

0.81	EYEN	Eyenovia	Pair Corr
0.54	CLDX	Celldex Therapeutics	Pair Corr
0.52	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.47	MOLN	Molecular Partners	Pair Corr
0.32	SNDL	SNDL Inc	Pair Corr
0.32	CRVS	Corvus Pharmaceuticals	Pair Corr
0.6	SGHT	Sight Sciences	Pair Corr
0.46	OTRK	Ontrak Inc	Pair Corr
0.43	MDAI	Spectral AI	Pair Corr
0.43	MODD	Modular Medical	Pair Corr
0.39	APYX	Apyx Medical	Pair Corr
0.49	SRDX	SurModics	Pair Corr
0.42	CNMD	CONMED	Pair Corr

Related Correlations Analysis

	CUE	INMB	INAB	PYPD	TFFP	IMNM	ANVS	AVTE	ADAG	ACRV
CUE		0.34	0.7	0.2	0.0	0.25	0.24	0.09	-0.13	0.0	CUE
INMB	0.34		-0.14	-0.14	0.0	-0.36	-0.6	-0.46	-0.42	-0.49	INMB
INAB	0.7	-0.14		0.04	0.0	0.39	0.44	0.17	0.01	0.18	INAB
PYPD	0.2	-0.14	0.04		0.0	-0.02	0.24	0.09	-0.18	-0.07	PYPD
TFFP	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	TFFP
IMNM	0.25	-0.36	0.39	-0.02	0.0		0.64	0.48	0.14	0.81	IMNM
ANVS	0.24	-0.6	0.44	0.24	0.0	0.64		0.69	0.05	0.56	ANVS
AVTE	0.09	-0.46	0.17	0.09	0.0	0.48	0.69		0.11	0.52	AVTE
ADAG	-0.13	-0.42	0.01	-0.18	0.0	0.14	0.05	0.11		0.3	ADAG
ACRV	0.0	-0.49	0.18	-0.07	0.0	0.81	0.56	0.52	0.3		ACRV
	CUE	INMB	INAB	PYPD	TFFP	IMNM	ANVS	AVTE	ADAG	ACRV

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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

ACRV	+ 0.81	IMNM
INAB	+ 0.7	CUE
AVTE	+ 0.69	ANVS
ANVS	+ 0.64	IMNM
ACRV	+ 0.56	ANVS
ACRV	+ 0.52	AVTE

High negative correlations

ANVS	- 0.6	INMB
ACRV	- 0.49	INMB
AVTE	- 0.46	INMB
ADAG	- 0.42	INMB
IMNM	- 0.36	INMB
ADAG	- 0.18	PYPD

Risk-Adjusted Indicators

There is a big difference between Anixa Stock performing well and Anixa Biosciences 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 Anixa Biosciences' 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
CUE	4.76	0.31	0.07	0.40	4.69	(6.32)	8.51	(8.57)	38.78
INMB	4.78	1.06	0.21	1.00	4.31	(5.91)	12.97	(8.23)	28.67
INAB	4.72	(0.06)	0.00	(0.14)	0.00	0.00	11.54	(9.37)	32.12
PYPD	4.19	0.34	0.06	0.29	5.44	(4.35)	10.62	(7.30)	41.24
TFFP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IMNM	3.22	(0.45)	0.00	(0.31)	0.00	0.00	7.03	(7.20)	20.87
ANVS	4.21	(1.36)	0.00	(0.91)	0.00	0.00	5.48	(8.63)	45.80
AVTE	1.29	0.02	0.04	0.00	1.52	(1.58)	2.07	(3.27)	10.45
ADAG	2.52	(0.32)	0.00	0.26	0.00	0.00	4.04	(5.34)	18.68
ACRV	4.13	(0.16)	0.00	(0.16)	0.00	0.00	10.17	(8.24)	30.57

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