LIVZON PHARMAC Correlations

LP6 Stock

EUR 3.14 0.06 1.95%

The current 90-days correlation between LIVZON PHARMAC GRP and CanSino Biologics is 0.14 (i.e., Average diversification). The correlation of LIVZON PHARMAC 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.

LIVZON PHARMAC Correlation With Market

Good diversification

The correlation between LIVZON PHARMAC GRP and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LIVZON PHARMAC GRP and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to LIVZON PHARMAC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LIVZON PHARMAC 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 LIVZON PHARMAC - 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 LIVZON PHARMAC GRP to buy it.

Moving against LIVZON Stock

0.57	GSR	Gossan Resources	Pair Corr
0.57	DBPD	Xtrackers ShortDAX	Pair Corr
0.42	EVT	Evotec SE	Pair Corr
0.33	BUU	DevEx Resources	Pair Corr

Related Correlations Analysis

	CJH	8SP	6NM	2DG	TLX	TM9	INVN	NOH1	OW3	RS6
CJH		-0.47	-0.3	-0.51	0.55	-0.55	0.64	-0.31	-0.75	0.26	CJH
8SP	-0.47		0.49	0.23	-0.07	0.27	-0.1	0.15	0.53	-0.12	8SP
6NM	-0.3	0.49		-0.04	0.13	0.1	0.11	0.31	0.4	0.26	6NM
2DG	-0.51	0.23	-0.04		-0.33	0.24	-0.7	-0.32	0.5	-0.7	2DG
TLX	0.55	-0.07	0.13	-0.33		-0.57	0.48	-0.31	-0.53	0.07	TLX
TM9	-0.55	0.27	0.1	0.24	-0.57		-0.51	0.6	0.5	0.17	TM9
INVN	0.64	-0.1	0.11	-0.7	0.48	-0.51		-0.01	-0.44	0.47	INVN
NOH1	-0.31	0.15	0.31	-0.32	-0.31	0.6	-0.01		0.36	0.65	NOH1
OW3	-0.75	0.53	0.4	0.5	-0.53	0.5	-0.44	0.36		-0.05	OW3
RS6	0.26	-0.12	0.26	-0.7	0.07	0.17	0.47	0.65	-0.05		RS6
	CJH	8SP	6NM	2DG	TLX	TM9	INVN	NOH1	OW3	RS6

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

RS6	+ 0.65	NOH1
INVN	+ 0.64	CJH
NOH1	+ 0.6	TM9
TLX	+ 0.55	CJH
OW3	+ 0.53	8SP
OW3	+ 0.5	2DG

High negative correlations

OW3	- 0.75	CJH
RS6	- 0.7	2DG
INVN	- 0.7	2DG
TM9	- 0.57	TLX
TM9	- 0.55	CJH
OW3	- 0.53	TLX

Risk-Adjusted Indicators

There is a big difference between LIVZON Stock performing well and LIVZON PHARMAC 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 LIVZON PHARMAC'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
CJH	2.99	0.26	0.07	(0.33)	3.52	(3.54)	7.65	(5.82)	23.61
8SP	2.16	(0.13)	0.00	0.72	0.00	0.00	3.17	(4.56)	20.22
6NM	1.29	(0.10)	0.00	1.35	0.00	0.00	2.89	(4.32)	9.64
2DG	6.12	0.22	0.02	(0.14)	8.01	(10.34)	14.29	(10.53)	52.42
TLX	0.95	0.19	0.14	1.37	1.11	(0.96)	2.39	(1.41)	5.74
TM9	2.55	0.14	0.04	(1.42)	3.89	(3.03)	7.26	(3.88)	30.27
INVN	2.35	0.10	0.04	0.28	2.68	(2.62)	5.45	(4.76)	14.01
NOH1	1.59	(0.09)	0.00	(0.98)	0.00	0.00	3.86	(3.25)	13.52
OW3	2.91	(0.08)	0.00	(0.53)	0.00	0.00	6.35	(5.71)	23.53
RS6	1.36	(0.02)	0.00	(0.05)	0.00	0.00	2.15	(2.93)	15.24

Be your own money manager

Our tools can tell you how much better you can do entering a position in LIVZON PHARMAC without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Headlines Timeline Now

Headlines Timeline

Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC