Vanda Pharmaceuticals Correlations

VNDA Stock

USD 4.82 0.05 1.05%

The current 90-days correlation between Vanda Pharmaceuticals and Nuvation Bio is 0.42 (i.e., Very weak diversification). The correlation of Vanda 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.

Vanda Pharmaceuticals Correlation With Market

Good diversification

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

For information on how to trade Vanda Stock refer to our How to Trade Vanda Stock guide.

Moving against Vanda Stock

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0.57	CMND	Clearmind Medicine Common	Pair Corr
0.44	WMT	Walmart	Pair Corr
0.37	OCEAW	Ocean Biomedical	Pair Corr
0.37	SCLX	Scilex Holding	Pair Corr
0.31	CDIOW	Cardio Diagnostics	Pair Corr
0.31	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.63	JPM	JPMorgan Chase	Pair Corr
0.57	CAT	Caterpillar	Pair Corr
0.48	BA	Boeing	Pair Corr
0.45	DIS	Walt Disney	Pair Corr
0.43	MSFT	Microsoft Aggressive Push	Pair Corr

Related Correlations Analysis

	BMRN	PCVX	LQDA	LEGN	TECH	NUVB	TIL	CNTB	NLTX	GRPH
BMRN		-0.88	0.2	0.15	-0.83	-0.58	-0.55	-0.57	0.0	0.0	BMRN
PCVX	-0.88		-0.17	-0.06	0.85	0.66	0.7	0.57	0.0	0.0	PCVX
LQDA	0.2	-0.17		0.7	-0.53	-0.69	0.12	-0.68	0.0	0.0	LQDA
LEGN	0.15	-0.06	0.7		-0.38	-0.4	0.28	-0.53	0.0	0.0	LEGN
TECH	-0.83	0.85	-0.53	-0.38		0.82	0.44	0.77	0.0	0.0	TECH
NUVB	-0.58	0.66	-0.69	-0.4	0.82		0.39	0.81	0.0	0.0	NUVB
TIL	-0.55	0.7	0.12	0.28	0.44	0.39		0.22	0.0	0.0	TIL
CNTB	-0.57	0.57	-0.68	-0.53	0.77	0.81	0.22		0.0	0.0	CNTB
NLTX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	NLTX
GRPH	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		GRPH
	BMRN	PCVX	LQDA	LEGN	TECH	NUVB	TIL	CNTB	NLTX	GRPH

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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

TECH	+ 0.85	PCVX
NUVB	+ 0.82	TECH
CNTB	+ 0.81	NUVB
CNTB	+ 0.77	TECH
TIL	+ 0.7	PCVX
LEGN	+ 0.7	LQDA

High negative correlations

PCVX	- 0.88	BMRN
TECH	- 0.83	BMRN
NUVB	- 0.69	LQDA
CNTB	- 0.68	LQDA
NUVB	- 0.58	BMRN
CNTB	- 0.57	BMRN

Risk-Adjusted Indicators

There is a big difference between Vanda Stock performing well and Vanda 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 Vanda 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
BMRN	1.13	0.13	0.09	1.04	1.47	(1.11)	3.04	(2.19)	8.07
PCVX	2.26	(0.21)	0.00	3.66	0.00	0.00	3.86	(4.85)	19.90
LQDA	2.04	0.53	0.22	(3.36)	2.06	(2.29)	4.37	(3.53)	13.55
LEGN	2.34	0.19	0.09	(0.54)	2.55	(2.67)	6.15	(4.39)	14.84
TECH	1.60	(0.28)	0.00	(5.67)	0.00	0.00	3.73	(3.72)	11.29
NUVB	3.24	(0.54)	0.00	0.36	0.00	0.00	6.88	(7.38)	28.03
TIL	5.74	0.07	0.02	0.22	5.81	(7.07)	13.25	(9.23)	34.30
CNTB	3.42	(0.24)	0.00	0.17	0.00	0.00	7.59	(6.52)	29.84
NLTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GRPH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Vanda Pharmaceuticals Corporate Management

Scott Howell	Chief Officer	Profile
Mihael MD	President, Founder	Profile
Kevin Moran	CFO VP	Profile
Elizabeth Every	Head Affairs	Profile
Joakim Wijkstrom	Chief Marketing Officer	Profile

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