Tonix Pharmaceuticals Correlations
| TNXP Stock | USD 11.95 0.52 4.55% |
The current 90-days correlation between Tonix Pharmaceuticals and Crinetics Pharmaceuticals is 0.08 (i.e., Significant 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
Significant diversification
The correlation between Tonix Pharmaceuticals Holding and DJI is 0.07 (i.e., Significant 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
| 0.7 | TSLA | Tesla Inc Sell-off Trend | PairCorr |
Moving against Tonix Stock
| 0.62 | JNJ | Johnson Johnson | PairCorr |
| 0.61 | AMGN | Amgen Inc | PairCorr |
| 0.43 | APVO | Aptevo Therapeutics | PairCorr |
| 0.43 | AMCCF | Amcor plc | PairCorr |
| 0.39 | FDMT | 4D Molecular Therapeutics | PairCorr |
| 0.39 | INVA | Innoviva | PairCorr |
| 0.33 | LLY | Eli Lilly | PairCorr |
| 0.31 | ABBV | AbbVie Inc | PairCorr |
| 0.52 | UIS | Unisys Earnings Call Tomorrow | PairCorr |
| 0.44 | TD | Toronto Dominion Bank | PairCorr |
| 0.41 | MMSI | Merit Medical Systems | PairCorr |
| 0.35 | HDVTY | Henderson Investment | PairCorr |
| 0.32 | COST | Costco Wholesale Corp | PairCorr |
Related Correlations Analysis
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CRNX | 2.49 | (0.77) | 0.00 | (0.59) | 0.00 | 3.12 | 21.52 | |||
| RYTM | 1.76 | (0.24) | 0.00 | (0.76) | 0.00 | 3.55 | 10.87 | |||
| KURA | 2.66 | (0.90) | 0.00 | (1.65) | 0.00 | 4.45 | 36.77 | |||
| CTMX | 3.92 | (0.36) | 0.00 | (0.14) | 0.00 | 7.32 | 23.37 |