Elicera Therapeutics Correlations
| ELIC Stock | 2.50 0.07 2.88% |
The current 90-days correlation between Elicera Therapeutics and Combigene AB is -0.24 (i.e., Very good diversification). The correlation of Elicera Therapeutics 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.
Elicera Therapeutics Correlation With Market
Significant diversification
The correlation between Elicera Therapeutics AB and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elicera Therapeutics AB and DJI in the same portfolio, assuming nothing else is changed.
Elicera |
The ability to find closely correlated positions to Elicera Therapeutics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Elicera Therapeutics when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Elicera Therapeutics - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Elicera Therapeutics AB to buy it.
Moving together with Elicera Stock
| 0.63 | ATCO-A | Atlas Copco AB | PairCorr |
| 0.63 | INDU-C | Industrivarden AB ser | PairCorr |
| 0.75 | DUNI | Duni AB | PairCorr |
| 0.73 | EPEN | Ependion AB | PairCorr |
| 0.77 | ARJO-B | Arjo AB | PairCorr |
Moving against Elicera Stock
| 0.77 | BINV | BioInvent International | PairCorr |
| 0.64 | XSPRAY | XSpray Pharma AB | PairCorr |
| 0.52 | NANOFS | Nanoform Finland Plc | PairCorr |
| 0.51 | QLINEA | Q linea AB | PairCorr |
| 0.36 | NORVA | Norva24 Group AB | PairCorr |
Related Correlations Analysis
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Elicera Therapeutics Corporate Management
Elected by the shareholders, the Elicera Therapeutics' board of directors comprises two types of representatives: Elicera Therapeutics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Elicera. The board's role is to monitor Elicera Therapeutics' management team and ensure that shareholders' interests are well served. Elicera Therapeutics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Elicera Therapeutics' outside directors are responsible for providing unbiased perspectives on the board's policies.