Oncolytics Biotech Correlations

ONCY Stock

USD 0.63 0.01 1.61%

The current 90-days correlation between Oncolytics Biotech and Milestone Pharmaceuticals is 0.28 (i.e., Modest diversification). The correlation of Oncolytics Biotech 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.

Oncolytics Biotech Correlation With Market

Weak diversification

The correlation between Oncolytics Biotech and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oncolytics Biotech 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 Oncolytics Biotech. 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 more information on how to buy Oncolytics Stock please use our How to Invest in Oncolytics Biotech guide.

Moving together with Oncolytics Stock

0.68	CDIOW	Cardio Diagnostics	Pair Corr
0.76	ELVN	Enliven Therapeutics	Pair Corr
0.69	SCLX	Scilex Holding	Pair Corr
0.87	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.78	CDIO	Cardio Diagnostics	Pair Corr
0.74	CMND	Clearmind Medicine Common	Pair Corr
0.76	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.71	MSFT	Microsoft	Pair Corr

Moving against Oncolytics Stock

0.81	WM	Waste Management	Pair Corr
0.72	LUCD	Lucid Diagnostics	Pair Corr
0.69	GE	GE Aerospace	Pair Corr
0.5	PG	Procter Gamble	Pair Corr
0.49	PLX	Protalix Biotherapeutics	Pair Corr
0.84	JNJ	Johnson Johnson	Pair Corr
0.81	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.76	MMM	3M Company	Pair Corr
0.7	CVX	Chevron Corp	Pair Corr
0.69	IBM	International Business	Pair Corr
0.64	XOM	Exxon Mobil Corp	Pair Corr
0.46	CSCO	Cisco Systems	Pair Corr
0.46	INTC	Intel	Pair Corr

Related Correlations Analysis

	SCPH	MIST	MCRB	LIFE	DMAC	IKT	XFOR	GRTX	TERN
SCPH		0.36	0.54	0.0	0.13	0.36	0.64	0.0	0.48	SCPH
MIST	0.36		0.07	0.0	0.11	0.03	0.2	0.0	-0.01	MIST
MCRB	0.54	0.07		0.0	-0.17	0.64	0.74	0.0	0.81	MCRB
LIFE	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	LIFE
DMAC	0.13	0.11	-0.17	0.0		-0.35	-0.23	0.0	-0.38	DMAC
IKT	0.36	0.03	0.64	0.0	-0.35		0.67	0.0	0.82	IKT
XFOR	0.64	0.2	0.74	0.0	-0.23	0.67		0.0	0.85	XFOR
GRTX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	GRTX
TERN	0.48	-0.01	0.81	0.0	-0.38	0.82	0.85	0.0		TERN
	SCPH	MIST	MCRB	LIFE	DMAC	IKT	XFOR	GRTX	TERN

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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

TERN	+ 0.85	XFOR
TERN	+ 0.82	IKT
TERN	+ 0.81	MCRB
XFOR	+ 0.74	MCRB
XFOR	+ 0.67	IKT
XFOR	+ 0.64	SCPH

High negative correlations

TERN	- 0.38	DMAC
IKT	- 0.35	DMAC
XFOR	- 0.23	DMAC
DMAC	- 0.17	MCRB
TERN	- 0.01	MIST
TERN	- 0.0	GRTX

Risk-Adjusted Indicators

There is a big difference between Oncolytics Stock performing well and Oncolytics Biotech 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 Oncolytics Biotech'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
SCPH	2.15	(0.04)	0.00	(0.16)	0.00	0.00	4.86	(4.09)	12.76
MIST	3.61	0.25	0.06	0.31	4.41	(4.32)	8.08	(7.01)	37.12
MCRB	3.47	(0.04)	0.00	(0.08)	0.00	0.00	7.81	(6.41)	35.32
LIFE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DMAC	3.31	0.08	0.02	0.02	4.76	(3.34)	5.71	(5.88)	47.69
IKT	4.78	(0.38)	0.00	0.24	0.00	0.00	10.64	(9.83)	42.63
XFOR	6.27	(0.67)	0.00	(1.77)	0.00	0.00	10.87	(13.51)	68.45
GRTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TERN	3.05	(0.92)	0.00	(1.16)	0.00	0.00	5.03	(6.98)	19.13

Oncolytics Biotech Corporate Management

Amy Levin	Vice Operations	Profile
FCA FCA	Consultant	Profile
Christophe Degois	Vice Development	Profile
Jon Patton	Director Communication	Profile
FACP FACP	Consultant	Profile
Wayne MBA	Interim Board	Profile

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