Innovent Biologics Correlations

IVBXF Stock

USD 11.43 0.04 0.35%

The current 90-days correlation between Innovent Biologics and Genmab AS is 0.34 (i.e., Weak diversification). The correlation of Innovent Biologics 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.

Innovent Biologics Correlation With Market

Good diversification

The correlation between Innovent Biologics and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovent Biologics and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Innovent Biologics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Innovent Biologics 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 Innovent Biologics - 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 Innovent Biologics to buy it.

Moving together with Innovent Pink Sheet

0.88	ALNY	Alnylam Pharmaceuticals	Pair Corr
0.73	NSFDF	NXT Energy Solutions	Pair Corr
0.73	LTRY	Lottery, Common Stock	Pair Corr
0.65	XOM	Exxon Mobil Corp	Pair Corr
0.73	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.65	INTC	Intel Earnings Call This Week	Pair Corr
0.82	DIS	Walt Disney	Pair Corr
0.83	BAC	Bank of America	Pair Corr
0.85	PFE	Pfizer Inc	Pair Corr
0.74	BA	Boeing Earnings Call This Week	Pair Corr
0.88	CSCO	Cisco Systems	Pair Corr
0.86	MSFT	Microsoft Aggressive Push	Pair Corr
0.74	AA	Alcoa Corp	Pair Corr

Moving against Innovent Pink Sheet

0.74	GLABF	Gemina Laboratories	Pair Corr
0.58	REGN	Regeneron Pharmaceuticals	Pair Corr
0.46	DMI	Diamcor Mining Earnings Call This Week	Pair Corr
0.85	MCD	McDonalds	Pair Corr
0.53	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.46	KO	Coca Cola Earnings Call Today	Pair Corr
0.33	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	ALEC	APLIF	CNTX	GNMSF	ITOS	NKGN	NTRBW	PULM	TBPH
ALEC		-0.8	-0.55	0.72	0.91	-0.23	0.54	0.38	0.82	ALEC
APLIF	-0.8		0.75	-0.57	-0.89	0.14	-0.41	-0.51	-0.64	APLIF
CNTX	-0.55	0.75		-0.34	-0.69	-0.14	-0.28	-0.64	-0.37	CNTX
GNMSF	0.72	-0.57	-0.34		0.62	-0.42	0.31	0.51	0.66	GNMSF
ITOS	0.91	-0.89	-0.69	0.62		-0.19	0.53	0.56	0.77	ITOS
NKGN	-0.23	0.14	-0.14	-0.42	-0.19		-0.15	-0.11	-0.3	NKGN
NTRBW	0.54	-0.41	-0.28	0.31	0.53	-0.15		0.1	0.71	NTRBW
PULM	0.38	-0.51	-0.64	0.51	0.56	-0.11	0.1		0.24	PULM
TBPH	0.82	-0.64	-0.37	0.66	0.77	-0.3	0.71	0.24		TBPH
	ALEC	APLIF	CNTX	GNMSF	ITOS	NKGN	NTRBW	PULM	TBPH

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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

ITOS	+ 0.91	ALEC
TBPH	+ 0.82	ALEC
TBPH	+ 0.77	ITOS
CNTX	+ 0.75	APLIF
GNMSF	+ 0.72	ALEC
TBPH	+ 0.71	NTRBW

High negative correlations

ITOS	- 0.89	APLIF
APLIF	- 0.8	ALEC
ITOS	- 0.69	CNTX
PULM	- 0.64	CNTX
TBPH	- 0.64	APLIF
GNMSF	- 0.57	APLIF

Risk-Adjusted Indicators

There is a big difference between Innovent Pink Sheet performing well and Innovent Biologics 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 Innovent Biologics' 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
ALEC	4.93	0.85	0.12	2.09	5.26	(5.16)	10.42	(9.03)	25.20
APLIF	7.09	(0.12)	0.00	(0.01)	0.00	0.00	25.00	(15.38)	75.71
CNTX	3.76	0.01	0.01	0.14	3.49	(5.58)	12.07	(6.00)	27.46
GNMSF	1.52	0.17	0.02	1.04	1.78	(2.70)	4.51	(4.38)	13.45
ITOS	2.65	0.83	0.32	2.50	1.89	(4.03)	7.68	(3.81)	20.47
NKGN	10.03	1.02	0.06	(18.84)	12.58	(14.81)	23.44	(18.18)	184.51
NTRBW	11.56	2.85	0.15	(2.50)	9.17	(24.87)	27.62	(20.00)	152.46
PULM	3.76	0.23	0.04	0.61	3.71	(4.57)	11.40	(6.21)	27.23
TBPH	2.09	0.44	0.13	2.42	2.14	(2.60)	5.92	(2.67)	24.91

Be your own money manager

Our tools can tell you how much better you can do entering a position in Innovent Biologics 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.

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Innovent Biologics Corporate Management

Min Liu	Chief Officer	Profile
Blake Salisbury	Sr Devel	Profile
Eduard MD	Pres USA	Profile
Yong MD	President	Profile
Vivian Zhang	Chief Officer	Profile
Dongming Wang	VP Quality	Profile
Changshou Gao	VP CTO	Profile

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