Journey Medical Correlations

DERM Stock

USD 5.74 0.17 3.05%

The current 90-days correlation between Journey Medical Corp and Avadel Pharmaceuticals PLC is 0.34 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Journey Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Journey Medical Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Journey Medical Correlation With Market

Average diversification

The correlation between Journey Medical Corp and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Journey Medical Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Journey Medical Corp. 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 Journey Stock

0.79	LUCD	Lucid Diagnostics	Pair Corr
0.8	WM	Waste Management	Pair Corr
0.68	PG	Procter Gamble	Pair Corr
0.78	JNJ	Johnson Johnson	Pair Corr
0.83	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.79	IBM	International Business	Pair Corr

Moving against Journey Stock

0.77	SCLX	Scilex Holding	Pair Corr
0.72	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.65	CMND	Clearmind Medicine Common	Pair Corr
0.49	CDIOW	Cardio Diagnostics	Pair Corr
0.41	ELVN	Enliven Therapeutics	Pair Corr
0.41	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.33	OCEAW	Ocean Biomedical	Pair Corr
0.33	CDIO	Cardio Diagnostics	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.66	MSFT	Microsoft	Pair Corr
0.63	MRK	Merck Company	Pair Corr
0.43	HD	Home Depot	Pair Corr
0.35	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	EVOK	JUPW	AVDL	AQST	CRLBF	CURLF	TCNNF	ACB	SHPH
EVOK		0.0	0.23	0.42	0.69	0.76	0.41	0.34	0.5	EVOK
JUPW	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	JUPW
AVDL	0.23	0.0		0.79	0.27	0.52	0.48	-0.01	0.21	AVDL
AQST	0.42	0.0	0.79		0.47	0.68	0.63	-0.12	0.47	AQST
CRLBF	0.69	0.0	0.27	0.47		0.88	0.73	0.16	0.67	CRLBF
CURLF	0.76	0.0	0.52	0.68	0.88		0.78	0.19	0.73	CURLF
TCNNF	0.41	0.0	0.48	0.63	0.73	0.78		-0.24	0.83	TCNNF
ACB	0.34	0.0	-0.01	-0.12	0.16	0.19	-0.24		-0.24	ACB
SHPH	0.5	0.0	0.21	0.47	0.67	0.73	0.83	-0.24		SHPH
	EVOK	JUPW	AVDL	AQST	CRLBF	CURLF	TCNNF	ACB	SHPH

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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

CURLF	+ 0.88	CRLBF
SHPH	+ 0.83	TCNNF
AQST	+ 0.79	AVDL
TCNNF	+ 0.78	CURLF
CURLF	+ 0.76	EVOK
TCNNF	+ 0.73	CRLBF

High negative correlations

SHPH	- 0.24	ACB
ACB	- 0.24	TCNNF
ACB	- 0.12	AQST
ACB	- 0.01	AVDL
SHPH	- 0.0	JUPW
ACB	- 0.0	JUPW

Risk-Adjusted Indicators

There is a big difference between Journey Stock performing well and Journey Medical 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 Journey Medical'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
EVOK	3.51	(0.53)	0.00	(0.45)	0.00	0.00	6.88	(8.02)	47.09
JUPW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AVDL	2.55	(0.12)	0.00	(0.16)	0.00	0.00	5.20	(4.23)	31.30
AQST	3.39	(0.02)	0.00	(0.08)	0.00	0.00	6.94	(7.48)	21.67
CRLBF	3.95	(0.28)	0.00	(0.25)	0.00	0.00	9.64	(7.37)	28.30
CURLF	3.62	(0.66)	0.00	(0.71)	0.00	0.00	10.22	(7.04)	27.42
TCNNF	2.77	(0.20)	0.00	(0.76)	0.00	0.00	7.22	(5.34)	22.80
ACB	3.78	0.35	0.09	0.15	3.39	(5.25)	6.36	(5.21)	53.14
SHPH	4.83	(0.48)	0.00	(0.53)	0.00	0.00	11.48	(8.82)	28.29

Journey Medical Corporate Management

CPA CPA	Chief Officer	Profile
Robyn Hunter	Treasurer Sec	Profile
Ernest Galvan	VP Strategy	Profile
Joseph Benesch	Interim Controller	Profile
Claude Maraoui	President, Founder	Profile
Robert Nevin	Chief Officer	Profile

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