Dermata Therapeutics Correlations

DRMA Stock

USD 0.68 0.01 1.45%

The current 90-days correlation between Dermata Therapeutics and Sonnet Biotherapeutics Holdings is 0.32 (i.e., Weak diversification). The correlation of Dermata Therapeutics 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.

Dermata Therapeutics Correlation With Market

Average diversification

The correlation between Dermata Therapeutics and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dermata Therapeutics and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dermata Therapeutics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

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

Moving together with Dermata Stock

0.8	EQ	Equillium	Pair Corr
0.67	VALN	Valneva SE ADR	Pair Corr
0.68	VCEL	Vericel Corp Ord	Pair Corr
0.7	DRRX	Durect	Pair Corr
0.73	DRUG	Bright Minds Biosciences	Pair Corr
0.65	CDIOW	Cardio Diagnostics	Pair Corr
0.87	DVAX	Dynavax Technologies	Pair Corr
0.77	VIVS	VivoSim Labs, Symbol Change	Pair Corr
0.76	DYAI	Dyadic International	Pair Corr
0.8	VRAX	Virax Biolabs Group	Pair Corr
0.62	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.67	VTGN	VistaGen Therapeutics	Pair Corr

Moving against Dermata Stock

0.74	KG	KING PHARMACEUTICALS INC Symbol Change	Pair Corr
0.47	VIGL	Vigil Neuroscience	Pair Corr
0.44	DRTS	Alpha Tau Medical	Pair Corr
0.51	EDIT	Editas Medicine	Pair Corr
0.4	VRNA	Verona Pharma PLC	Pair Corr
0.37	VTYX	Ventyx Biosciences	Pair Corr

Related Correlations Analysis

	ZURA	PHIO	SONN	ATNF	CDIO	WINT	ENSC	PBLA	BXRX	ZVSA
ZURA		-0.01	0.74	0.09	0.71	0.46	0.58	0.0	0.0	0.17	ZURA
PHIO	-0.01		-0.32	-0.06	-0.32	-0.64	-0.41	0.0	0.0	-0.09	PHIO
SONN	0.74	-0.32		0.11	0.78	0.68	0.69	0.0	0.0	0.13	SONN
ATNF	0.09	-0.06	0.11		-0.22	-0.13	0.26	0.0	0.0	-0.54	ATNF
CDIO	0.71	-0.32	0.78	-0.22		0.78	0.55	0.0	0.0	0.38	CDIO
WINT	0.46	-0.64	0.68	-0.13	0.78		0.62	0.0	0.0	0.4	WINT
ENSC	0.58	-0.41	0.69	0.26	0.55	0.62		0.0	0.0	0.04	ENSC
PBLA	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	PBLA
BXRX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	BXRX
ZVSA	0.17	-0.09	0.13	-0.54	0.38	0.4	0.04	0.0	0.0		ZVSA
	ZURA	PHIO	SONN	ATNF	CDIO	WINT	ENSC	PBLA	BXRX	ZVSA

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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

CDIO	+ 0.78	SONN
WINT	+ 0.78	CDIO
SONN	+ 0.74	ZURA
CDIO	+ 0.71	ZURA
ENSC	+ 0.69	SONN
WINT	+ 0.68	SONN

High negative correlations

WINT	- 0.64	PHIO
ZVSA	- 0.54	ATNF
ENSC	- 0.41	PHIO
CDIO	- 0.32	PHIO
SONN	- 0.32	PHIO
CDIO	- 0.22	ATNF

Risk-Adjusted Indicators

There is a big difference between Dermata Stock performing well and Dermata Therapeutics 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 Dermata Therapeutics' 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
ZURA	4.13	(0.14)	0.00	(0.10)	0.00	0.00	10.37	(7.75)	26.93
PHIO	6.46	1.11	0.18	0.44	5.54	(8.46)	18.60	(11.31)	71.20
SONN	2.71	(0.20)	0.00	(0.37)	0.00	0.00	5.31	(5.38)	17.77
ATNF	4.54	(0.07)	0.00	(0.05)	0.00	0.00	9.26	(8.74)	59.44
CDIO	7.13	(1.40)	0.00	(1.18)	0.00	0.00	13.59	(13.16)	64.52
WINT	6.62	(1.25)	0.00	(1.59)	0.00	0.00	15.83	(14.53)	61.10
ENSC	6.86	(0.34)	0.00	(0.19)	0.00	0.00	11.59	(13.26)	109.72
PBLA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BXRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZVSA	7.11	0.71	0.08	(1.30)	7.59	(9.73)	10.39	(12.86)	144.21

Dermata Therapeutics Corporate Management

Maria MBA	Senior Assurance	Profile
Gerald Proehl	President, Founder	Profile
Sean Proehl	Senior Development	Profile
David Hale	CoFounder Director	Profile
Dr MPH	Senior Officer	Profile

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