Lixte Biotechnology Correlations

LIXT Stock  USD 1.22  0.13  9.63%   
The current 90-days correlation between Lixte Biotechnology and Allarity Therapeutics is -0.24 (i.e., Very good diversification). The correlation of Lixte Biotechnology 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.

Lixte Biotechnology Correlation With Market

Good diversification

The correlation between Lixte Biotechnology Holdings and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lixte Biotechnology Holdings and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Lixte Biotechnology Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Lixte Stock

  0.69SCLX Scilex HoldingPairCorr
  0.67ASMB Assembly Biosciences Downward RallyPairCorr
  0.8CMND Clearmind Medicine CommonPairCorr
  0.66MLSS Milestone Scientific Earnings Call TodayPairCorr
  0.72CAT CaterpillarPairCorr
  0.67HD Home DepotPairCorr

Moving against Lixte Stock

  0.67LUCD Lucid DiagnosticsPairCorr
  0.57PG Procter GamblePairCorr
  0.49WM Waste ManagementPairCorr
  0.69JNJ Johnson JohnsonPairCorr
  0.69T ATT Inc Aggressive PushPairCorr
  0.59INTC IntelPairCorr
  0.45DD Dupont De NemoursPairCorr
  0.44IBM International BusinessPairCorr
  0.34XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.33CSCO Cisco Systems Aggressive PushPairCorr

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   
KTTANRBO
KTTAQNRX
PMVPBDRX
KTTAVRAX
INDPNRBO
QNRXVRAX
  
High negative correlations   
PMVPKRBP
BDRXKRBP
KRBPKTTA
KRBPINDP
KRBPQNRX
KRBPVRAX

Risk-Adjusted Indicators

There is a big difference between Lixte Stock performing well and Lixte Biotechnology 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 Lixte Biotechnology'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
ALLR  5.43  0.51  0.08  0.37  5.99 
 13.24 
 47.01 
NRBO  3.99 (0.48) 0.00 (0.92) 0.00 
 8.05 
 25.83 
HILS  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
VRAX  6.11 (0.04) 0.00 (0.21) 0.00 
 16.67 
 59.66 
QNRX  5.39 (0.84) 0.00 (2.47) 0.00 
 14.29 
 57.78 
INDP  3.54 (0.47) 0.00  0.95  0.00 
 6.33 
 20.25 
KTTA  5.14 (0.66) 0.00 (0.28) 0.00 
 10.40 
 53.63 
KRBP  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
BDRX  5.10 (1.18) 0.00 (0.49) 0.00 
 11.58 
 52.99 
PMVP  1.88 (0.35) 0.00 (0.35) 0.00 
 4.41 
 16.42 

Lixte Biotechnology Corporate Management