ImmuCell Correlations

ICCC Stock

USD 4.81 0.16 3.22%

The correlation of ImmuCell 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.

ImmuCell Correlation With Market

Average diversification

The correlation between ImmuCell 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 ImmuCell and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ImmuCell. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For information on how to trade ImmuCell Stock refer to our How to Trade ImmuCell Stock guide.

Moving together with ImmuCell Stock

0.63

VTGN

VistaGen Therapeutics

Pair Corr

Moving against ImmuCell Stock

0.47	DSGN	Design Therapeutics	Pair Corr
0.41	VKTX	Viking Therapeutics	Pair Corr
0.32	DRRX	Durect Earnings Call This Week	Pair Corr
0.31	VERA	Vera Therapeutics	Pair Corr
0.32	CDTTW	Conduit Pharmaceuticals	Pair Corr

Related Correlations Analysis

	TRGNF	ACOGF	FENC	LIPO	ELYM	CYT	ANEB	HCWB	MNOV	AGE
TRGNF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	TRGNF
ACOGF	0.0		-0.44	-0.27	0.0	0.0	-0.1	0.07	0.54	0.0	ACOGF
FENC	0.0	-0.44		0.14	0.0	0.0	-0.36	0.09	-0.43	0.0	FENC
LIPO	0.0	-0.27	0.14		0.0	0.0	0.21	0.25	0.3	0.0	LIPO
ELYM	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ELYM
CYT	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CYT
ANEB	0.0	-0.1	-0.36	0.21	0.0	0.0		0.11	0.36	0.0	ANEB
HCWB	0.0	0.07	0.09	0.25	0.0	0.0	0.11		0.27	0.0	HCWB
MNOV	0.0	0.54	-0.43	0.3	0.0	0.0	0.36	0.27		0.0	MNOV
AGE	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		AGE
	TRGNF	ACOGF	FENC	LIPO	ELYM	CYT	ANEB	HCWB	MNOV	AGE

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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

MNOV	+ 0.54	ACOGF
MNOV	+ 0.36	ANEB
MNOV	+ 0.3	LIPO
MNOV	+ 0.27	HCWB
HCWB	+ 0.25	LIPO
ANEB	+ 0.21	LIPO

High negative correlations

FENC	- 0.44	ACOGF
MNOV	- 0.43	FENC
ANEB	- 0.36	FENC
LIPO	- 0.27	ACOGF
ANEB	- 0.1	ACOGF
AGE	- 0.0	MNOV

Risk-Adjusted Indicators

There is a big difference between ImmuCell Stock performing well and ImmuCell 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 ImmuCell'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
TRGNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ACOGF	4.45	(0.46)	0.00	0.41	0.00	0.00	9.94	(9.30)	65.10
FENC	2.00	0.21	0.06	0.07	2.86	(2.23)	4.75	(3.56)	16.33
LIPO	6.27	0.38	0.04	0.11	7.77	(8.17)	12.62	(10.68)	114.21
ELYM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CYT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ANEB	5.11	0.40	0.06	0.18	5.31	(6.76)	19.58	(10.43)	40.87
HCWB	6.60	0.63	0.09	(1.29)	6.26	(12.78)	9.76	(14.29)	148.94
MNOV	2.21	(0.51)	0.00	(0.79)	0.00	0.00	5.35	(5.24)	16.27
AGE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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