Tenax Therapeutics Correlations

TENX Stock

USD 6.57 0.14 2.18%

The current 90-days correlation between Tenax Therapeutics and NRBO Old is -0.07 (i.e., Good diversification). The correlation of Tenax Therapeutics 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.

Tenax Therapeutics Correlation With Market

Good diversification

The correlation between Tenax Therapeutics and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tenax Therapeutics and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tenax Therapeutics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

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

Moving against Tenax Stock

0.51	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.36	PKX	POSCO Holdings	Pair Corr

Related Correlations Analysis

	ALLR	NRBO	HILS	VRAX	QNRX	BWV	PXMD	REVB	ZVSA	SONN
ALLR		0.37	0.0	0.27	0.09	0.0	0.0	0.12	0.4	0.43	ALLR
NRBO	0.37		0.0	0.47	0.73	0.0	0.0	0.52	0.31	0.53	NRBO
HILS	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	HILS
VRAX	0.27	0.47	0.0		0.67	0.0	0.0	0.83	0.67	0.56	VRAX
QNRX	0.09	0.73	0.0	0.67		0.0	0.0	0.85	0.27	0.38	QNRX
BWV	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	BWV
PXMD	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	PXMD
REVB	0.12	0.52	0.0	0.83	0.85	0.0	0.0		0.39	0.4	REVB
ZVSA	0.4	0.31	0.0	0.67	0.27	0.0	0.0	0.39		0.58	ZVSA
SONN	0.43	0.53	0.0	0.56	0.38	0.0	0.0	0.4	0.58		SONN
	ALLR	NRBO	HILS	VRAX	QNRX	BWV	PXMD	REVB	ZVSA	SONN

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

REVB	+ 0.85	QNRX
REVB	+ 0.83	VRAX
QNRX	+ 0.73	NRBO
QNRX	+ 0.67	VRAX
ZVSA	+ 0.67	VRAX
SONN	+ 0.58	ZVSA

High negative correlations

SONN	- 0.0	PXMD
ZVSA	- 0.0	PXMD
REVB	- 0.0	PXMD
SONN	- 0.0	BWV
ZVSA	- 0.0	BWV
REVB	- 0.0	BWV

Risk-Adjusted Indicators

There is a big difference between Tenax Stock performing well and Tenax Therapeutics 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 Tenax Therapeutics' 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
ALLR	5.69	0.28	0.04	0.41	6.24	(6.95)	14.58	(11.82)	47.01
NRBO	3.99	(0.40)	0.00	(0.43)	0.00	0.00	8.05	(7.34)	25.83
HILS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VRAX	6.22	(0.09)	0.01	0.00	6.83	(8.22)	16.67	(11.98)	59.66
QNRX	5.40	(0.91)	0.00	1.83	0.00	0.00	14.29	(10.53)	57.78
BWV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PXMD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
REVB	5.58	(0.68)	0.00	(1.73)	0.00	0.00	11.78	(12.26)	66.25
ZVSA	4.67	(0.29)	0.00	(0.82)	0.00	0.00	12.03	(8.20)	38.26
SONN	3.41	(0.21)	0.00	(0.31)	0.00	0.00	8.57	(6.40)	44.37

Tenax Therapeutics Corporate Management

Doug Randall	Executive VP of Commercial and Bus. Operations	Profile
Eliot CPA	Interim Officer	Profile
Nancy Hecox	Gen Affairs	Profile
Esq CPA	Interim Officer	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