Durect Correlations

DRRX Stock  USD 0.80  0.06  6.98%   
The current 90-days correlation between Durect and Sonoma Pharmaceuticals is 0.18 (i.e., Average diversification). The correlation of Durect 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.

Durect Correlation With Market

Average diversification

The correlation between Durect and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Durect 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 Durect. 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.
For more information on how to buy Durect Stock please use our How to Invest in Durect guide.

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Related Correlations Analysis

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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   
TKNOSHPH
LFCRSNOA
LFCRSHPH
LFCRTKNO
SNOATKNO
MNKSHPH
  
High negative correlations   
TKNOORGO
ORGOSHPH
LFCRORGO
SNOAORGO
SNOASHPH
LFCREGRX

Risk-Adjusted Indicators

There is a big difference between Durect Stock performing well and Durect 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 Durect'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SHPH  4.50 (0.85) 0.00 (1.49) 0.00 
 11.36 
 25.23 
MNK  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
ORGO  5.14  1.61  0.25  0.21  4.00 
 6.74 
 115.16 
LSDI  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
ALIM  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
TKNO  4.27 (0.19) 0.00 (0.20) 0.00 
 7.31 
 24.03 
AGRX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
SNOA  3.48  0.47  0.18 (0.73) 3.21 
 7.58 
 52.45 
EGRX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
LFCR  2.91 (0.03) 0.00 (0.17) 0.00 
 6.59 
 28.39 

Durect Corporate Management

James DVMCEO, CoFounderProfile
Jian MBACorporate FinanceProfile
Su YumExecutive OfficerProfile
Norman MDChief OfficerProfile
Keith MBACommercial DevelopmentProfile
Andrew MiksztalVP ScientistProfile