Drugs Made Correlations

DMAAU Stock

10.44 0.04 0.38%

The current 90-days correlation between Drugs Made In and Nexstar Broadcasting Group is 0.09 (i.e., Significant diversification). The correlation of Drugs Made 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.

Drugs Made Correlation With Market

Good diversification

The correlation between Drugs Made In and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Drugs Made In and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Drugs Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Drugs Made In. 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.

Moving together with Drugs Stock

0.61	DIST	Distoken Acquisition	Pair Corr
0.86	DMAA	Drugs Made In	Pair Corr
0.82	VACH	Voyager Acquisition Corp	Pair Corr
0.8	YHNAU	YHN Acquisition I	Pair Corr
0.71	NOEMU	CO2 Energy Transition	Pair Corr
0.8	VCIC	Vine Hill Capital	Pair Corr
0.73	DRDB	Roman DBDR Acquisition	Pair Corr
0.65	DTSQ	DT Cloud Star	Pair Corr
0.78	EMCG	Embrace Change Acqui	Pair Corr
0.8	BACQR	Bleichroeder Acquisition	Pair Corr
0.76	BACQU	Bleichroeder Acquisition	Pair Corr
0.62	EURK	Eureka Acquisition Corp	Pair Corr
0.76	DISTR	Distoken Acquisition	Pair Corr
0.83	ANSCU	Agriculture Natural	Pair Corr
0.86	WLAC	Willow Lane Acquisition	Pair Corr
0.75	FERA	Fifth Era Acquisition	Pair Corr
0.84	FGMC	FG Merger II	Pair Corr
0.77	BAYAU	Bayview Acquisition Corp	Pair Corr
0.65	KVACW	Keen Vision Acquisition	Pair Corr
0.84	AAM	AA Mission Acquisition	Pair Corr

Moving against Drugs Stock

0.62	ANSCW	Agriculture Natural	Pair Corr
0.35	FACT	FACT II Acquisition	Pair Corr
0.35	FSHPR	Flag Ship Acquisition	Pair Corr
0.34	GDSTU	Goldenstone Acquisition	Pair Corr

Related Correlations Analysis

	NXST	ASR	MFGCF	CRSR	DAL	SWMD	PRKS	MAT
NXST		0.65	-0.33	0.88	0.91	0.0	0.6	0.93	NXST
ASR	0.65		-0.36	0.76	0.59	0.0	0.21	0.82	ASR
MFGCF	-0.33	-0.36		-0.28	-0.35	0.0	-0.32	-0.41	MFGCF
CRSR	0.88	0.76	-0.28		0.8	0.0	0.29	0.91	CRSR
DAL	0.91	0.59	-0.35	0.8		0.0	0.56	0.82	DAL
SWMD	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SWMD
PRKS	0.6	0.21	-0.32	0.29	0.56	0.0		0.51	PRKS
MAT	0.93	0.82	-0.41	0.91	0.82	0.0	0.51		MAT
	NXST	ASR	MFGCF	CRSR	DAL	SWMD	PRKS	MAT

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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

MAT	+ 0.93	NXST
DAL	+ 0.91	NXST
MAT	+ 0.91	CRSR
CRSR	+ 0.88	NXST
MAT	+ 0.82	ASR
MAT	+ 0.82	DAL

High negative correlations

MAT	- 0.41	MFGCF
MFGCF	- 0.36	ASR
DAL	- 0.35	MFGCF
MFGCF	- 0.33	NXST
PRKS	- 0.32	MFGCF
CRSR	- 0.28	MFGCF

Risk-Adjusted Indicators

There is a big difference between Drugs Stock performing well and Drugs Made 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 Drugs Made'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
NXST	1.49	0.18	0.12	0.37	1.35	(1.62)	3.85	(2.66)	8.59
ASR	1.23	0.18	0.00	2.10	1.06	(1.43)	2.96	(1.89)	8.98
MFGCF	1.56	0.11	(0.05)	(0.05)	2.12	(2.49)	4.07	(5.47)	16.06
CRSR	2.45	0.29	0.26	0.33	1.64	(3.11)	8.75	(3.60)	14.46
DAL	1.97	0.13	0.14	0.28	1.84	(2.35)	5.79	(4.13)	16.12
SWMD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PRKS	1.68	0.28	0.03	(19.59)	1.95	(1.91)	3.80	(3.65)	11.04
MAT	1.50	0.54	0.18	(1.55)	1.07	(1.77)	3.53	(2.36)	12.80

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