Avid Bioservices Correlations

Summary

CDMODelisted Stock

USD 12.49 0.00 0.00%

The current 90-days correlation between Avid Bioservices and AnaptysBio is 0.08 (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

Significant diversification

The correlation between Avid Bioservices and DJI is 0.05 (i.e., Significant 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

0.75	DMAC	DiaMedica Therapeutics	Pair Corr
0.62	DRTS	Alpha Tau Medical	Pair Corr

Moving against Avid Stock

0.56	MBRX	Moleculin Biotech Buyout Trend	Pair Corr
0.46	DNLI	Denali Therapeutics	Pair Corr
0.44	MBIO	Mustang Bio	Pair Corr
0.4	VANI	Vivani Medical	Pair Corr
0.33	MGNX	MacroGenics Earnings Call This Week	Pair Corr
0.68	DTIL	Precision BioSciences	Pair Corr
0.51	MNKD	MannKind Corp	Pair Corr
0.45	VERA	Vera Therapeutics	Pair Corr
0.36	MLEC	Moolec Science SA	Pair Corr
0.57	VKTX	Viking Therapeutics	Pair Corr
0.52	VINC	Vincerx Pharma	Pair Corr
0.46	VIGL	Vigil Neuroscience	Pair Corr
0.46	MRSN	Mersana Therapeutics Earnings Call Today	Pair Corr

Related Correlations Analysis

	ANEB	ADAG	ACRV	ANAB	MLYS	CRNX	CYTK	CERE	BCYC	KDNY
ANEB		-0.17	-0.21	-0.16	-0.01	-0.1	-0.02	0.0	-0.02	0.0	ANEB
ADAG	-0.17		0.71	0.65	0.72	0.78	0.7	0.0	0.8	0.0	ADAG
ACRV	-0.21	0.71		0.52	0.74	0.82	0.62	0.0	0.73	0.0	ACRV
ANAB	-0.16	0.65	0.52		0.33	0.42	0.59	0.0	0.68	0.0	ANAB
MLYS	-0.01	0.72	0.74	0.33		0.93	0.49	0.0	0.73	0.0	MLYS
CRNX	-0.1	0.78	0.82	0.42	0.93		0.61	0.0	0.84	0.0	CRNX
CYTK	-0.02	0.7	0.62	0.59	0.49	0.61		0.0	0.62	0.0	CYTK
CERE	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	CERE
BCYC	-0.02	0.8	0.73	0.68	0.73	0.84	0.62	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

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

CRNX	+ 0.93	MLYS
BCYC	+ 0.84	CRNX
CRNX	+ 0.82	ACRV
BCYC	+ 0.8	ADAG
CRNX	+ 0.78	ADAG
MLYS	+ 0.74	ACRV

High negative correlations

ACRV	- 0.21	ANEB
ADAG	- 0.17	ANEB
ANAB	- 0.16	ANEB
CRNX	- 0.1	ANEB
BCYC	- 0.02	ANEB
CYTK	- 0.02	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	4.33	(0.13)	0.00	(0.06)	0.00	0.00	7.64	(10.43)	40.87
ADAG	3.36	(0.05)	0.00	0.12	0.00	0.00	6.39	(6.41)	41.45
ACRV	4.17	(0.05)	0.00	(0.02)	0.00	0.00	10.17	(8.61)	30.57
ANAB	4.92	0.13	0.02	0.25	7.07	(5.56)	9.45	(9.33)	42.28
MLYS	3.35	(0.24)	0.00	(0.48)	0.00	0.00	7.79	(6.02)	26.52
CRNX	2.61	(0.72)	0.00	(0.71)	0.00	0.00	3.12	(7.53)	21.52
CYTK	2.22	(0.13)	0.00	(0.38)	0.00	0.00	4.56	(4.22)	15.13
CERE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BCYC	2.78	(0.79)	0.00	(1.38)	0.00	0.00	5.51	(6.07)	36.84
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

Still Interested in Avid Bioservices?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC