KING PHARMACEUTICALS Correlations

KG Stock

23.70 0.01 0.04%

The current 90-days correlation between KING PHARMACEUTICALS INC and Luxfer Holdings PLC is 0.11 (i.e., Average diversification). The correlation of KING PHARMACEUTICALS 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.

KING PHARMACEUTICALS Correlation With Market

Average diversification

The correlation between KING PHARMACEUTICALS INC and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KING PHARMACEUTICALS INC and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with KING Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in KING PHARMACEUTICALS INC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving against KING Stock

0.35	EQ	Equillium	Pair Corr
0.35	VALN	Valneva SE ADR	Pair Corr
0.38	SRZNW	Surrozen Warrant	Pair Corr
0.31	VYNE	Vyne Therapeutics	Pair Corr
0.31	ENGN	enGene Holdings Common	Pair Corr

Related Correlations Analysis

	SEE	PLAY	LXFR	SCL	CSYT	ROG	ECVT
SEE		0.57	0.86	0.84	0.0	0.89	0.84	SEE
PLAY	0.57		0.67	0.71	0.0	0.66	0.84	PLAY
LXFR	0.86	0.67		0.94	0.0	0.93	0.88	LXFR
SCL	0.84	0.71	0.94		0.0	0.93	0.89	SCL
CSYT	0.0	0.0	0.0	0.0		0.0	0.0	CSYT
ROG	0.89	0.66	0.93	0.93	0.0		0.83	ROG
ECVT	0.84	0.84	0.88	0.89	0.0	0.83		ECVT
	SEE	PLAY	LXFR	SCL	CSYT	ROG	ECVT

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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

SCL	+ 0.94	LXFR
ROG	+ 0.93	LXFR
ROG	+ 0.93	SCL
ROG	+ 0.89	SEE
ECVT	+ 0.89	SCL
ECVT	+ 0.88	LXFR

High negative correlations

ECVT	- 0.0	CSYT
ROG	- 0.0	CSYT
CSYT	- 0.0	SCL
CSYT	- 0.0	LXFR
CSYT	- 0.0	PLAY
CSYT	- 0.0	SEE

Risk-Adjusted Indicators

There is a big difference between KING Stock performing well and KING PHARMACEUTICALS 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 KING PHARMACEUTICALS'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
SEE	1.50	0.29	0.09	(1.33)	1.22	(1.86)	3.14	(2.17)	9.14
PLAY	3.12	0.68	0.25	0.60	2.34	(3.70)	9.24	(5.12)	22.98
LXFR	1.70	0.07	0.06	0.19	1.60	(1.94)	3.99	(2.70)	10.90
SCL	1.60	0.10	0.09	0.22	1.41	(1.88)	3.97	(2.58)	10.46
CSYT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ROG	1.72	0.11	0.06	0.23	2.11	(1.73)	3.83	(3.06)	13.93
ECVT	1.79	0.56	0.20	1.10	1.93	(2.03)	4.82	(2.79)	14.44

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