Tonix Pharmaceuticals Correlations
| TNXP Stock | USD 20.17 8.59 29.87% |
The current 90-days correlation between Tonix Pharmaceuticals and Jaguar Animal Health is -0.04 (i.e., Good diversification). The correlation of Tonix Pharmaceuticals 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.
Tonix Pharmaceuticals Correlation With Market
Average diversification
The correlation between Tonix Pharmaceuticals Holding and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tonix Pharmaceuticals Holding and DJI in the same portfolio, assuming nothing else is changed.
Tonix |
Moving together with Tonix Stock
| 0.65 | SCLX | Scilex Holding | PairCorr |
| 0.72 | CRNX | Crinetics Pharmaceuticals | PairCorr |
| 0.66 | MSFT | Microsoft | PairCorr |
| 0.66 | MRK | Merck Company | PairCorr |
Moving against Tonix Stock
| 0.73 | WM | Waste Management | PairCorr |
| 0.69 | LUCD | Lucid Diagnostics | PairCorr |
| 0.57 | PLX | Protalix Biotherapeutics | PairCorr |
| 0.56 | GE | GE Aerospace | PairCorr |
| 0.39 | PG | Procter Gamble | PairCorr |
| 0.34 | ABUS | Arbutus Biopharma Corp Buyout Trend | PairCorr |
| 0.75 | CSCO | Cisco Systems | PairCorr |
| 0.69 | JNJ | Johnson Johnson | PairCorr |
| 0.66 | IBM | International Business | PairCorr |
| 0.62 | T | ATT Inc Sell-off Trend | PairCorr |
| 0.52 | MMM | 3M Company | PairCorr |
| 0.52 | DD | Dupont De Nemours | PairCorr |
| 0.49 | INTC | Intel | PairCorr |
| 0.48 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.35 | XOM | Exxon Mobil Corp Earnings Call This Week | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Tonix Stock performing well and Tonix Pharmaceuticals 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 Tonix Pharmaceuticals' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SONN | 3.34 | (0.14) | 0.00 | (0.19) | 0.00 | 8.57 | 44.37 | |||
| ONTX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PALI | 4.16 | (1.28) | 0.00 | (2.24) | 0.00 | 11.70 | 30.79 | |||
| IBIO | 4.66 | 1.11 | 0.25 | 1.46 | 3.94 | 13.08 | 43.25 | |||
| JAGX | 5.27 | (1.61) | 0.00 | (0.55) | 0.00 | 7.15 | 59.05 | |||
| ACST | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| DFFN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| VXRT | 4.51 | (0.13) | 0.00 | (0.15) | 0.00 | 11.90 | 49.25 | |||
| VBIV | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| DRUG | 3.64 | 0.02 | 0.00 | (0.01) | 4.25 | 9.56 | 24.39 |