Immuron Correlations

IMRN Stock

USD 1.70 0.02 1.19%

The current 90-days correlation between Immuron Ltd ADR and XTL Biopharmaceuticals Ltd is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Immuron moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Immuron Ltd ADR moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Immuron Correlation With Market

Modest diversification

The correlation between Immuron Ltd ADR and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Immuron Ltd ADR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Immuron Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Immuron Ltd ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving against Immuron Stock

0.31

CGEN

Compugen

Pair Corr

Related Correlations Analysis

	NBTX	XTLB	SNOA	EDSA	VRNA	ATHE	IMMP
NBTX		0.24	0.08	-0.49	0.91	0.61	-0.18	NBTX
XTLB	0.24		0.44	0.54	0.37	0.08	-0.14	XTLB
SNOA	0.08	0.44		0.17	0.19	0.11	0.23	SNOA
EDSA	-0.49	0.54	0.17		-0.36	-0.58	-0.18	EDSA
VRNA	0.91	0.37	0.19	-0.36		0.57	-0.23	VRNA
ATHE	0.61	0.08	0.11	-0.58	0.57		0.21	ATHE
IMMP	-0.18	-0.14	0.23	-0.18	-0.23	0.21		IMMP
	NBTX	XTLB	SNOA	EDSA	VRNA	ATHE	IMMP

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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

VRNA	+ 0.91	NBTX
ATHE	+ 0.61	NBTX
ATHE	+ 0.57	VRNA
EDSA	+ 0.54	XTLB
SNOA	+ 0.44	XTLB
VRNA	+ 0.37	XTLB

High negative correlations

ATHE	- 0.58	EDSA
EDSA	- 0.49	NBTX
VRNA	- 0.36	EDSA
IMMP	- 0.23	VRNA
IMMP	- 0.18	EDSA
IMMP	- 0.18	NBTX

Risk-Adjusted Indicators

There is a big difference between Immuron Stock performing well and Immuron 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 Immuron'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
NBTX	3.42	0.65	0.15	1.84	3.23	(4.22)	10.98	(6.55)	21.20
XTLB	5.51	0.86	0.14	0.90	5.46	(7.05)	13.64	(7.58)	37.44
SNOA	4.31	0.47	0.16	0.33	3.45	(6.19)	6.67	(6.86)	81.19
EDSA	2.27	0.08	(0.03)	(0.19)	2.70	(2.47)	5.31	(5.04)	11.94
VRNA	2.22	0.82	0.36	1.13	1.41	(2.61)	5.15	(4.17)	20.77
ATHE	3.64	0.88	0.15	(1.64)	3.84	(4.10)	8.46	(6.75)	39.77
IMMP	3.28	0.22	0.05	0.33	4.22	(3.77)	5.88	(4.93)	64.09

Immuron Corporate Management

CPA CPA	Chief Officer	Profile
BBus CA	CFO Sec	Profile
Dan Peres	Chief Officer	Profile
Flavio Palumbo	Chief Officer	Profile
David Lyon	Head Marketing	Profile

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