Protalix Biotherapeutics Correlations

PLX Stock

USD 2.53 0.07 2.69%

The current 90-days correlation between Protalix Biotherapeutics and Uniqure NV is 0.21 (i.e., Modest diversification). The correlation of Protalix Biotherapeutics 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.

Protalix Biotherapeutics Correlation With Market

Modest diversification

The correlation between Protalix Biotherapeutics and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Protalix Biotherapeutics 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 Protalix Biotherapeutics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more information on how to buy Protalix Stock please use our How to Invest in Protalix Biotherapeutics guide.

Moving together with Protalix Stock

0.68	MLSS	Milestone Scientific Earnings Call This Week	Pair Corr
0.69	WM	Waste Management	Pair Corr
0.88	GE	GE Aerospace	Pair Corr
0.73	CSCO	Cisco Systems	Pair Corr
0.83	MMM	3M Company	Pair Corr
0.69	JPM	JPMorgan Chase	Pair Corr
0.67	IBM	International Business	Pair Corr
0.66	CVX	Chevron Corp	Pair Corr

Moving against Protalix Stock

0.78	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.75	CDIO	Cardio Diagnostics	Pair Corr
0.49	CDIOW	Cardio Diagnostics	Pair Corr
0.46	SCLX	Scilex Holding	Pair Corr
0.44	ASMB	Assembly Biosciences Earnings Call Tomorrow	Pair Corr
0.41	ELVN	Enliven Therapeutics Downward Rally	Pair Corr
0.35	OCEAW	Ocean Biomedical	Pair Corr
0.71	MRK	Merck Company	Pair Corr
0.45	MSFT	Microsoft Aggressive Push	Pair Corr

Related Correlations Analysis

	DAWN	REPL	MIRM	RCKT	RNA	QURE	PTGX	PLRX	IMCR	RVMD
DAWN		0.43	0.07	0.86	0.14	0.61	-0.71	0.78	0.29	0.8	DAWN
REPL	0.43		0.67	0.2	0.54	0.06	-0.38	-0.01	0.46	0.31	REPL
MIRM	0.07	0.67		-0.27	0.41	-0.41	-0.2	-0.39	0.34	-0.18	MIRM
RCKT	0.86	0.2	-0.27		0.05	0.79	-0.58	0.85	0.16	0.9	RCKT
RNA	0.14	0.54	0.41	0.05		0.25	0.14	-0.03	0.1	0.3	RNA
QURE	0.61	0.06	-0.41	0.79	0.25		-0.15	0.8	0.18	0.76	QURE
PTGX	-0.71	-0.38	-0.2	-0.58	0.14	-0.15		-0.49	-0.32	-0.51	PTGX
PLRX	0.78	-0.01	-0.39	0.85	-0.03	0.8	-0.49		0.19	0.76	PLRX
IMCR	0.29	0.46	0.34	0.16	0.1	0.18	-0.32	0.19		0.1	IMCR
RVMD	0.8	0.31	-0.18	0.9	0.3	0.76	-0.51	0.76	0.1		RVMD
	DAWN	REPL	MIRM	RCKT	RNA	QURE	PTGX	PLRX	IMCR	RVMD

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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

RVMD	+ 0.9	RCKT
RCKT	+ 0.86	DAWN
PLRX	+ 0.85	RCKT
RVMD	+ 0.8	DAWN
PLRX	+ 0.8	QURE
QURE	+ 0.79	RCKT

High negative correlations

PTGX	- 0.71	DAWN
PTGX	- 0.58	RCKT
RVMD	- 0.51	PTGX
PLRX	- 0.49	PTGX
QURE	- 0.41	MIRM
PLRX	- 0.39	MIRM

Risk-Adjusted Indicators

There is a big difference between Protalix Stock performing well and Protalix Biotherapeutics 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 Protalix Biotherapeutics' 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
DAWN	2.88	(0.52)	0.00	(0.61)	0.00	0.00	6.36	(6.67)	22.86
REPL	2.86	(0.07)	0.00	(0.08)	0.00	0.00	5.86	(5.88)	23.59
MIRM	1.87	0.22	0.10	0.17	1.99	(2.17)	5.32	(2.86)	13.96
RCKT	2.74	(0.36)	0.00	(0.32)	0.00	0.00	4.92	(6.06)	12.71
RNA	2.92	0.11	0.03	0.03	3.09	(3.63)	7.22	(4.79)	20.15
QURE	3.89	(0.04)	0.00	(0.05)	0.00	0.00	7.02	(9.75)	26.87
PTGX	2.79	0.45	0.20	(0.34)	2.47	(3.47)	3.48	(3.74)	50.66
PLRX	6.35	(2.02)	0.00	(14.02)	0.00	0.00	10.39	(14.98)	80.84
IMCR	2.09	0.06	0.03	0.08	2.52	(2.14)	5.34	(4.18)	10.97
RVMD	1.75	(0.13)	0.00	(0.15)	0.00	0.00	4.37	(5.89)	11.35

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