Avid Bioservices Correlations

Summary

CDMODelisted Stock

USD 12.49 0.00 0.00%

The current 90-days correlation between Avid Bioservices and AnaptysBio is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Avid Bioservices moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Avid Bioservices moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Avid Bioservices Correlation With Market

Good diversification

The correlation between Avid Bioservices and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avid Bioservices and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Avid Stock

0.61	COCXF	Chocoladefabriken Lindt	Pair Corr
0.8	MRK	Merck Company	Pair Corr

Moving against Avid Stock

0.69	CSCO	Cisco Systems	Pair Corr
0.63	IBM	International Business	Pair Corr
0.57	NVRO	Nevro Corp	Pair Corr
0.56	GE	GE Aerospace	Pair Corr
0.54	T	ATT Inc Earnings Call This Week	Pair Corr
0.52	WMT	Walmart Aggressive Push	Pair Corr
0.47	JNJ	Johnson Johnson	Pair Corr
0.47	JPM	JPMorgan Chase	Pair Corr
0.45	RNAZ	Transcode Therapeutics Buyout Trend	Pair Corr
0.34	VZ	Verizon Communications	Pair Corr
0.34	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	ANEB	ADAG	ACRV	ANAB	MLYS	CRNX	CYTK	CERE	BCYC	KDNY
ANEB		-0.49	0.26	-0.21	0.45	0.39	0.18	0.0	0.32	0.0	ANEB
ADAG	-0.49		0.07	0.02	-0.1	-0.13	0.28	0.0	0.01	0.0	ADAG
ACRV	0.26	0.07		-0.26	0.02	0.43	0.55	0.0	0.59	0.0	ACRV
ANAB	-0.21	0.02	-0.26		-0.14	-0.51	0.06	0.0	-0.29	0.0	ANAB
MLYS	0.45	-0.1	0.02	-0.14		0.48	-0.2	0.0	-0.33	0.0	MLYS
CRNX	0.39	-0.13	0.43	-0.51	0.48		0.36	0.0	0.26	0.0	CRNX
CYTK	0.18	0.28	0.55	0.06	-0.2	0.36		0.0	0.58	0.0	CYTK
CERE	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	CERE
BCYC	0.32	0.01	0.59	-0.29	-0.33	0.26	0.58	0.0		0.0	BCYC
KDNY	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		KDNY
	ANEB	ADAG	ACRV	ANAB	MLYS	CRNX	CYTK	CERE	BCYC	KDNY

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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

BCYC	+ 0.59	ACRV
BCYC	+ 0.58	CYTK
CYTK	+ 0.55	ACRV
CRNX	+ 0.48	MLYS
MLYS	+ 0.45	ANEB
CRNX	+ 0.43	ACRV

High negative correlations

CRNX	- 0.51	ANAB
ADAG	- 0.49	ANEB
BCYC	- 0.33	MLYS
BCYC	- 0.29	ANAB
ANAB	- 0.26	ACRV
ANAB	- 0.21	ANEB

Risk-Adjusted Indicators

There is a big difference between Avid Stock performing well and Avid Bioservices 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 Avid Bioservices' 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
ANEB	5.30	0.81	0.13	0.41	5.26	(7.62)	15.25	(8.77)	40.87
ADAG	2.44	(0.17)	0.00	0.28	0.00	0.00	4.04	(5.06)	18.68
ACRV	4.26	(0.01)	0.00	(0.07)	0.00	0.00	10.17	(8.24)	30.57
ANAB	4.32	0.41	0.08	0.23	4.43	(5.41)	9.84	(7.48)	43.41
MLYS	4.46	0.68	0.17	(0.50)	4.25	(5.32)	10.04	(8.23)	50.53
CRNX	2.52	(0.56)	0.00	(0.71)	0.00	0.00	3.33	(6.70)	19.41
CYTK	2.26	(0.08)	0.00	(3.11)	0.00	0.00	5.41	(4.22)	17.67
CERE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BCYC	2.58	(0.65)	0.00	(0.63)	0.00	0.00	4.19	(6.07)	21.30
KDNY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

View Avid Bioservices Related Equities

Anebulo Pharmaceuticals Adagene Acrivon Therapeutics, Common AnaptysBio Mineralys Therapeutics, Common Crinetics Pharmaceuticals Cytokinetics Cerevel Therapeutics Holdings Bicycle Therapeutics Chinook Therapeutics Immunocore Holdings Mirum Pharmaceuticals Larimar Therapeutics Kalvista Pharmaceuticals Lyra Therapeutics

Risk & Return

Correlation

Avid Bioservices Corporate Management

Mark JD	General VP	Profile
Daniel Hart	Chief Officer	Profile
Oksana Lukash	Vice People	Profile
Prof Brekken	Medical Advisor	Profile
Harold MD	Medical Advisor	Profile
Prof Schroit	Medical Advisor	Profile

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