XOMA Correlations

Preferred Stocks . USA . 
Preferred Stock . XOMA Corporation
XOMAO Preferred Stock  USD 25.45  0.02  0.08%   
The current 90-days correlation between XOMA and XOMA Corp is 0.28 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as XOMA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if XOMA Corporation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

XOMA Correlation With Market

Modest diversification

The correlation between XOMA Corp. and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding XOMA Corp. and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to XOMA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace XOMA when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back XOMA - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling XOMA Corporation to buy it.

Moving against XOMA Preferred Stock

  0.68ENSC Ensysce BiosciencesPairCorr
  0.54ERAS Erasca IncPairCorr
  0.53ELAB Elevai Labs, CommonPairCorr
  0.51VYNE Vyne TherapeuticsPairCorr
  0.48ENTO Entero Therapeutics, Earnings Call This WeekPairCorr
  0.43VYGR Voyager TherapeuticsPairCorr
  0.43ENGN enGene Holdings CommonPairCorr
  0.4ENLV Enlivex TherapeuticsPairCorr
  0.35VXRT Vaxart IncPairCorr
  0.59EYEN EyenoviaPairCorr
  0.58WHWK WHWK Symbol ChangePairCorr
  0.57FBRX Forte BiosciencesPairCorr
  0.55FBIO Fortress Biotech Earnings Call This WeekPairCorr
  0.51EVGN EvogenePairCorr
  0.45EVAX Evaxion Biotech AS Earnings Call TomorrowPairCorr
  0.42FGEN FibroGenPairCorr
  0.38FATE Fate TherapeuticsPairCorr
  0.37EYPT Eyepoint PharmaceuticalsPairCorr
  0.33FDMT 4D Molecular TherapeuticsPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
HROWL
+ 0.69
XOMAP
NYMTM
+ 0.55
XOMAP
NYMTM
+ 0.46
HROWL
SPNT-PB
+ 0.43
HROWL
SPNT-PB
+ 0.3
XOMAP
NYMTM
+ 0.19
SPNT-PB
  
High negative correlations   
SACH-PA
- 0.3
SPNT-PB
SACH-PA
- 0.11
NYMTM

Risk-Adjusted Indicators

There is a big difference between XOMA Preferred Stock performing well and XOMA 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 XOMA'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in XOMA without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Commodity Channel Now

   

Commodity Channel

Use Commodity Channel Index to analyze current equity momentum
All  Next Launch Module
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
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY