Onconetix Correlations

ONCO Stock

USD 0.12 0.01 7.69%

The current 90-days correlation between Onconetix and Cardinal Health is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Onconetix moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Onconetix moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Onconetix Correlation With Market

Average diversification

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

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Onconetix. 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.

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

Moving together with Onconetix Stock

0.77	A	Agilent Technologies	Pair Corr
0.72	ME	23Andme Holding	Pair Corr
0.66	VANI	Vivani Medical Earnings Call This Week	Pair Corr
0.76	DNLI	Denali Therapeutics	Pair Corr
0.84	VCEL	Vericel Corp Ord	Pair Corr
0.83	VCYT	Veracyte	Pair Corr
0.64	VRAX	Virax Biolabs Group	Pair Corr
0.63	VRDN	Viridian Therapeutics Downward Rally	Pair Corr
0.67	VRPX	Virpax Pharmaceuticals	Pair Corr

Moving against Onconetix Stock

0.72	DVAX	Dynavax Technologies	Pair Corr
0.36	VALN	Valneva SE ADR	Pair Corr
0.46	VNDA	Vanda Pharmaceuticals	Pair Corr
0.46	VRTX	Vertex Pharmaceuticals	Pair Corr
0.44	EDSA	Edesa Biotech	Pair Corr
0.43	VRNA	Verona Pharma PLC	Pair Corr
0.39	CDTTW	Conduit Pharmaceuticals	Pair Corr

Related Correlations Analysis

	CAH	OLED	PLYA	SONY	HAS	GNFT	MSN	BC
CAH		-0.32	0.73	0.52	0.3	-0.11	0.58	-0.4	CAH
OLED	-0.32		-0.37	0.15	0.49	-0.13	-0.39	0.22	OLED
PLYA	0.73	-0.37		0.55	0.18	-0.15	0.35	-0.74	PLYA
SONY	0.52	0.15	0.55		0.79	0.03	-0.13	-0.53	SONY
HAS	0.3	0.49	0.18	0.79		0.03	-0.2	-0.17	HAS
GNFT	-0.11	-0.13	-0.15	0.03	0.03		0.02	0.42	GNFT
MSN	0.58	-0.39	0.35	-0.13	-0.2	0.02		0.06	MSN
BC	-0.4	0.22	-0.74	-0.53	-0.17	0.42	0.06		BC
	CAH	OLED	PLYA	SONY	HAS	GNFT	MSN	BC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

HAS	+ 0.79	SONY
PLYA	+ 0.73	CAH
MSN	+ 0.58	CAH
SONY	+ 0.55	PLYA
SONY	+ 0.52	CAH
HAS	+ 0.49	OLED

High negative correlations

BC	- 0.74	PLYA
BC	- 0.53	SONY
BC	- 0.4	CAH
MSN	- 0.39	OLED
PLYA	- 0.37	OLED
OLED	- 0.32	CAH

Risk-Adjusted Indicators

There is a big difference between Onconetix Stock performing well and Onconetix 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 Onconetix'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
CAH	0.81	0.16	0.15	0.17	1.10	(0.79)	1.82	(2.22)	6.21
OLED	1.77	0.08	0.04	0.02	2.38	(1.79)	3.73	(4.32)	13.32
PLYA	1.32	0.56	0.46	0.70	0.63	(1.77)	2.32	(1.53)	31.78
SONY	1.48	0.32	0.17	0.26	1.63	(1.54)	3.22	(2.53)	10.94
HAS	1.45	(0.05)	0.00	(0.20)	0.00	0.00	2.29	(2.96)	17.10
GNFT	2.51	0.01	0.00	(0.08)	0.00	0.00	6.43	(6.05)	15.06
MSN	2.67	0.18	0.04	0.19	3.12	(4.76)	6.38	(6.12)	33.84
BC	1.53	(0.27)	0.00	(0.30)	0.00	0.00	2.70	(3.12)	9.68

Onconetix Corporate Management

Theodore Yoho	Head Development	Profile
MBA MA	Senior Development	Profile
Andrew Skibo	Global Operations	Profile
MD MBA	Chief Officer	Profile
Christian Bruhlmann	Chief Officer	Profile
Dr Very	Senior Development	Profile
Erin Henderson	Consultant	Profile

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