Palatin Technologies Correlations

PTN Stock

USD 0.81 0.05 6.58%

The current 90-days correlation between Palatin Technologies and Fortress Biotech is 0.28 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Palatin Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Palatin Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Palatin Technologies Correlation With Market

Average diversification

The correlation between Palatin Technologies and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Palatin Technologies 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 Palatin Technologies. 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.

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

Moving together with Palatin Stock

0.74	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.72	CMND	Clearmind Medicine Common	Pair Corr

Moving against Palatin Stock

0.63	PG	Procter Gamble	Pair Corr
0.57	WM	Waste Management	Pair Corr
0.41	LUCD	Lucid Diagnostics	Pair Corr
0.39	GE	GE Aerospace	Pair Corr
0.61	JNJ	Johnson Johnson	Pair Corr
0.58	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.49	MMM	3M Company	Pair Corr
0.47	IBM	International Business	Pair Corr
0.34	XOM	Exxon Mobil Corp	Pair Corr
0.34	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	FBIO	CKPT	ATXI	PIRS	ALRN	ACGN	QNRX	COCP	IBIO	BPTH
FBIO		0.28	0.67	0.0	0.0	0.0	0.75	0.71	-0.68	-0.03	FBIO
CKPT	0.28		-0.2	0.0	0.0	0.0	0.1	-0.03	-0.1	-0.5	CKPT
ATXI	0.67	-0.2		0.0	0.0	0.0	0.81	0.74	-0.79	0.35	ATXI
PIRS	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	PIRS
ALRN	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ALRN
ACGN	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ACGN
QNRX	0.75	0.1	0.81	0.0	0.0	0.0		0.63	-0.69	-0.11	QNRX
COCP	0.71	-0.03	0.74	0.0	0.0	0.0	0.63		-0.67	0.18	COCP
IBIO	-0.68	-0.1	-0.79	0.0	0.0	0.0	-0.69	-0.67		-0.24	IBIO
BPTH	-0.03	-0.5	0.35	0.0	0.0	0.0	-0.11	0.18	-0.24		BPTH
	FBIO	CKPT	ATXI	PIRS	ALRN	ACGN	QNRX	COCP	IBIO	BPTH

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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

QNRX	+ 0.81	ATXI
QNRX	+ 0.75	FBIO
COCP	+ 0.74	ATXI
COCP	+ 0.71	FBIO
ATXI	+ 0.67	FBIO
COCP	+ 0.63	QNRX

High negative correlations

IBIO	- 0.79	ATXI
IBIO	- 0.69	QNRX
IBIO	- 0.68	FBIO
IBIO	- 0.67	COCP
BPTH	- 0.5	CKPT
BPTH	- 0.24	IBIO

Risk-Adjusted Indicators

There is a big difference between Palatin Stock performing well and Palatin Technologies 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 Palatin Technologies' 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
FBIO	2.67	(0.11)	0.00	(0.65)	0.00	0.00	5.19	(4.87)	22.19
CKPT	4.74	0.33	0.11	(0.22)	4.13	(6.47)	10.94	(6.80)	61.63
ATXI	4.89	(1.86)	0.00	(1.22)	0.00	0.00	7.59	(12.00)	61.43
PIRS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALRN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ACGN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QNRX	5.40	(0.91)	0.00	1.83	0.00	0.00	14.29	(10.53)	57.78
COCP	4.59	0.04	0.01	0.11	7.23	(5.86)	14.85	(6.32)	62.44
IBIO	4.59	1.30	0.29	2.10	3.88	(5.49)	13.08	(7.31)	43.25
BPTH	8.68	(0.47)	0.00	(0.58)	0.00	0.00	15.63	(15.44)	189.05

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