Eton Pharmaceuticals Correlations

ETON Stock

USD 14.22 0.56 3.79%

The current 90-days correlation between Eton Pharmaceuticals and Eledon Pharmaceuticals is 0.22 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eton Pharmaceuticals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eton Pharmaceuticals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eton Pharmaceuticals Correlation With Market

Average diversification

The correlation between Eton Pharmaceuticals and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eton Pharmaceuticals 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 Eton Pharmaceuticals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

To learn how to invest in Eton Stock, please use our How to Invest in Eton Pharmaceuticals guide.

Moving together with Eton Stock

0.77	PLX	Protalix Biotherapeutics	Pair Corr
0.62	REPL	Replimune Group	Pair Corr

Moving against Eton Stock

0.66	INBX	Inhibrx Symbol Change	Pair Corr
0.63	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.59	MRK	Merck Company	Pair Corr
0.53	ZURA	Zura Bio Limited	Pair Corr
0.43	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.41	ELVN	Enliven Therapeutics	Pair Corr
0.35	CDIOW	Cardio Diagnostics	Pair Corr
0.66	CDIO	Cardio Diagnostics	Pair Corr
0.6	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.57	BIIB	Biogen Inc	Pair Corr
0.44	ATNF	180 Life Sciences	Pair Corr
0.42	ADVM	Adverum Biotechnologies	Pair Corr
0.35	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.35	CGEM	Cullinan Oncology LLC	Pair Corr
0.32	SCLX	Scilex Holding	Pair Corr
0.31	PMVP	Pmv Pharmaceuticals	Pair Corr

Related Correlations Analysis

	CNTB	ABOS	NUVB	ELDN	ELYM	INBX	MACK	CELC	ELVN	REPL
CNTB		0.8	0.79	0.45	0.0	0.5	0.0	0.63	0.72	-0.06	CNTB
ABOS	0.8		0.9	0.51	0.0	0.52	0.0	0.68	0.83	-0.03	ABOS
NUVB	0.79	0.9		0.48	0.0	0.52	0.0	0.7	0.82	-0.08	NUVB
ELDN	0.45	0.51	0.48		0.0	-0.09	0.0	0.68	0.51	0.7	ELDN
ELYM	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ELYM
INBX	0.5	0.52	0.52	-0.09	0.0		0.0	0.36	0.61	-0.45	INBX
MACK	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	MACK
CELC	0.63	0.68	0.7	0.68	0.0	0.36	0.0		0.78	0.37	CELC
ELVN	0.72	0.83	0.82	0.51	0.0	0.61	0.0	0.78		0.0	ELVN
REPL	-0.06	-0.03	-0.08	0.7	0.0	-0.45	0.0	0.37	0.0		REPL
	CNTB	ABOS	NUVB	ELDN	ELYM	INBX	MACK	CELC	ELVN	REPL

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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

NUVB	+ 0.9	ABOS
ELVN	+ 0.83	ABOS
ELVN	+ 0.82	NUVB
ABOS	+ 0.8	CNTB
NUVB	+ 0.79	CNTB
ELVN	+ 0.78	CELC

High negative correlations

REPL	- 0.45	INBX
INBX	- 0.09	ELDN
REPL	- 0.08	NUVB
REPL	- 0.06	CNTB
REPL	- 0.03	ABOS
REPL	- 0.0	ELVN

Risk-Adjusted Indicators

There is a big difference between Eton Stock performing well and Eton Pharmaceuticals 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 Eton Pharmaceuticals' 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
CNTB	3.51	(0.29)	0.00	(0.33)	0.00	0.00	7.59	(7.07)	29.84
ABOS	2.99	(0.64)	0.00	(0.59)	0.00	0.00	6.57	(7.09)	19.77
NUVB	3.32	(0.34)	0.00	(0.59)	0.00	0.00	6.88	(7.38)	28.03
ELDN	2.74	(0.18)	0.00	(0.19)	0.00	0.00	4.71	(5.28)	18.63
ELYM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
INBX	2.48	0.07	0.03	0.02	3.11	(2.67)	5.73	(5.63)	16.41
MACK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CELC	3.05	(0.14)	0.00	(0.24)	0.00	0.00	6.28	(7.81)	21.63
ELVN	2.40	(0.02)	0.00	(0.08)	0.00	0.00	4.27	(5.81)	16.56
REPL	2.83	(0.06)	0.00	(0.11)	0.00	0.00	5.86	(5.88)	22.75

Eton Pharmaceuticals Corporate Management

Danka Radosavljevic	Senior Operations	Profile
James CPA	Treasurer CFO	Profile
Kevin Guthrie	Executive Operations	Profile
Scott Grossenbach	Senior Operations	Profile
Ingrid Hoos	Senior Affairs	Profile
Ipek ErdoganTrinkaus	Chief Officer	Profile

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