Tharimmune Correlations

THAR Stock

1.48 0.06 4.23%

The current 90-days correlation between Tharimmune and Penn National Gaming is -0.06 (i.e., Good diversification). The correlation of Tharimmune 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.

Tharimmune Correlation With Market

Average diversification

The correlation between Tharimmune and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tharimmune 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 Tharimmune. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with Tharimmune Stock

0.68	A	Agilent Technologies	Pair Corr
0.88	ME	23Andme Holding	Pair Corr
0.85	VANI	Vivani Medical Earnings Call This Week	Pair Corr
0.83	DNLI	Denali Therapeutics	Pair Corr
0.85	VCEL	Vericel Corp Ord	Pair Corr
0.87	VCYT	Veracyte	Pair Corr
0.84	VERA	Vera Therapeutics	Pair Corr
0.68	CDIOW	Cardio Diagnostics	Pair Corr
0.74	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.76	VKTX	Viking Therapeutics	Pair Corr
0.66	DYAI	Dyadic International Earnings Call This Week	Pair Corr
0.62	VRAX	Virax Biolabs Group	Pair Corr
0.85	VRDN	Viridian Therapeutics	Pair Corr
0.83	VRPX	Virpax Pharmaceuticals	Pair Corr
0.84	VTRS	Viatris	Pair Corr
0.88	VTYX	Ventyx Biosciences	Pair Corr

Moving against Tharimmune Stock

0.83	DVAX	Dynavax Technologies	Pair Corr
0.75	VALN	Valneva SE ADR	Pair Corr
0.41	VIGL	Vigil Neuroscience	Pair Corr
0.36	EQ	Equillium	Pair Corr
0.36	DMAC	DiaMedica Therapeutics	Pair Corr
0.31	DTIL	Precision BioSciences Earnings Call This Week	Pair Corr
0.8	VRNA	Verona Pharma PLC	Pair Corr
0.71	VRTX	Vertex Pharmaceuticals	Pair Corr
0.62	EDSA	Edesa Biotech	Pair Corr
0.54	VSTM	Verastem	Pair Corr
0.47	VTVT	vTv Therapeutics	Pair Corr
0.4	VNDA	Vanda Pharmaceuticals	Pair Corr
0.33	EDIT	Editas Medicine	Pair Corr
0.32	SRZNW	Surrozen Warrant	Pair Corr

Related Correlations Analysis

	PENN	CNTA	OTGLY	AGAE	DDI	REGN	HCHDF
PENN		-0.03	0.24	0.18	0.04	-0.24	-0.6	PENN
CNTA	-0.03		0.02	-0.08	0.19	0.05	0.02	CNTA
OTGLY	0.24	0.02		0.77	-0.66	-0.46	-0.32	OTGLY
AGAE	0.18	-0.08	0.77		-0.61	-0.44	-0.35	AGAE
DDI	0.04	0.19	-0.66	-0.61		0.58	0.36	DDI
REGN	-0.24	0.05	-0.46	-0.44	0.58		0.25	REGN
HCHDF	-0.6	0.02	-0.32	-0.35	0.36	0.25		HCHDF
	PENN	CNTA	OTGLY	AGAE	DDI	REGN	HCHDF

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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

AGAE	+ 0.77	OTGLY
REGN	+ 0.58	DDI
HCHDF	+ 0.36	DDI
HCHDF	+ 0.25	REGN
OTGLY	+ 0.24	PENN
DDI	+ 0.19	CNTA

High negative correlations

DDI	- 0.66	OTGLY
DDI	- 0.61	AGAE
HCHDF	- 0.6	PENN
REGN	- 0.46	OTGLY
REGN	- 0.44	AGAE
HCHDF	- 0.35	AGAE

Risk-Adjusted Indicators

There is a big difference between Tharimmune Stock performing well and Tharimmune 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 Tharimmune'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
PENN	2.55	(0.06)	0.00	(0.16)	0.00	0.00	4.92	(4.62)	15.28
CNTA	3.01	0.01	0.03	0.10	3.38	(3.22)	6.30	(5.83)	15.09
OTGLY	1.90	0.27	0.15	141.61	2.32	(1.92)	4.03	(4.12)	10.92
AGAE	3.06	0.36	0.11	(2.06)	3.81	(3.35)	6.00	(6.67)	22.41
DDI	2.22	(0.16)	0.00	(0.49)	0.00	0.00	4.62	(5.00)	14.65
REGN	1.63	(0.19)	0.00	(0.66)	0.00	0.00	2.82	(3.63)	9.27
HCHDF	2.83	0.32	0.08	0.44	3.68	(3.38)	8.09	(4.78)	20.97

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