Inotiv Correlations

NOTV Stock

USD 3.20 0.10 3.23%

The current 90-days correlation between Inotiv Inc and Fonar is 0.09 (i.e., Significant diversification). The correlation of Inotiv 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.

Inotiv Correlation With Market

Modest diversification

The correlation between Inotiv Inc and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Inotiv Inc 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 Inotiv Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Inotiv Stock

0.63	A	Agilent Technologies	Pair Corr
0.85	ME	23Andme Holding	Pair Corr
0.92	VANI	Vivani Medical Earnings Call This Week	Pair Corr
0.8	DNLI	Denali Therapeutics	Pair Corr
0.74	VCEL	Vericel Corp Ord	Pair Corr
0.82	VCYT	Veracyte	Pair Corr
0.76	VERA	Vera Therapeutics	Pair Corr
0.72	CDIOW	Cardio Diagnostics	Pair Corr
0.66	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.77	VKTX	Viking Therapeutics	Pair Corr
0.61	VRCA	Verrica Pharmaceuticals	Pair Corr
0.79	VRDN	Viridian Therapeutics	Pair Corr
0.8	VRPX	Virpax Pharmaceuticals	Pair Corr
0.85	VTRS	Viatris	Pair Corr
0.81	VTYX	Ventyx Biosciences	Pair Corr

Moving against Inotiv Stock

0.71	DVAX	Dynavax Technologies	Pair Corr
0.68	VALN	Valneva SE ADR	Pair Corr
0.33	VIGL	Vigil Neuroscience	Pair Corr
0.32	EQ	Equillium	Pair Corr
0.73	VRNA	Verona Pharma PLC	Pair Corr
0.54	VRTX	Vertex Pharmaceuticals	Pair Corr
0.53	EDSA	Edesa Biotech	Pair Corr
0.52	VSTM	Verastem	Pair Corr
0.42	VNDA	Vanda Pharmaceuticals	Pair Corr
0.35	SRZNW	Surrozen Warrant	Pair Corr
0.33	VTVT	vTv Therapeutics	Pair Corr

Related Correlations Analysis

	FONR	BNR	SERA	OLK	LMDX	GTH	XGN	SHC	DRIO	STIM
FONR		0.56	0.31	0.0	0.0	0.0	0.51	0.79	0.0	-0.41	FONR
BNR	0.56		0.5	0.0	0.0	0.0	0.31	0.76	0.32	-0.53	BNR
SERA	0.31	0.5		0.0	0.0	0.0	0.43	0.38	0.41	-0.96	SERA
OLK	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	OLK
LMDX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	LMDX
GTH	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	GTH
XGN	0.51	0.31	0.43	0.0	0.0	0.0		0.48	-0.15	-0.48	XGN
SHC	0.79	0.76	0.38	0.0	0.0	0.0	0.48		0.14	-0.45	SHC
DRIO	0.0	0.32	0.41	0.0	0.0	0.0	-0.15	0.14		-0.39	DRIO
STIM	-0.41	-0.53	-0.96	0.0	0.0	0.0	-0.48	-0.45	-0.39		STIM
	FONR	BNR	SERA	OLK	LMDX	GTH	XGN	SHC	DRIO	STIM

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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

SHC	+ 0.79	FONR
SHC	+ 0.76	BNR
BNR	+ 0.56	FONR
XGN	+ 0.51	FONR
SERA	+ 0.5	BNR
SHC	+ 0.48	XGN

High negative correlations

STIM	- 0.96	SERA
STIM	- 0.53	BNR
STIM	- 0.48	XGN
STIM	- 0.45	SHC
STIM	- 0.41	FONR
STIM	- 0.39	DRIO

Risk-Adjusted Indicators

There is a big difference between Inotiv Stock performing well and Inotiv 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 Inotiv'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
FONR	1.35	(0.07)	0.00	(0.22)	0.00	0.00	2.50	(2.86)	10.83
BNR	3.85	(0.13)	0.00	(0.34)	0.00	0.00	8.52	(10.25)	26.46
SERA	3.43	(0.83)	0.00	(0.79)	0.00	0.00	6.45	(8.66)	26.54
OLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LMDX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GTH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XGN	5.42	0.11	0.02	0.07	7.03	(6.02)	18.25	(11.56)	45.67
SHC	1.40	(0.04)	0.00	(0.14)	0.00	0.00	2.40	(2.88)	12.51
DRIO	6.32	0.56	0.07	(1.44)	8.91	(7.80)	11.29	(12.50)	121.18
STIM	6.99	2.73	0.37	2.85	5.92	(8.53)	18.78	(10.80)	51.44

Inotiv Corporate Management

Adrian Hardy	Executive Development	Profile
Fernanda Beraldi	Gen Sec	Profile
Mo Dastagir	Chief Officer	Profile
Peter Kissinger	Chairman Founder	Profile
Kimberly Beaty	Director Marketing	Profile
William Pitchford	Chief Officer	Profile

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