MediciNova Correlations

MNOV Stock

USD 1.23 0.01 0.82%

The current 90-days correlation between MediciNova and Caribou Biosciences is 0.16 (i.e., Average diversification). The correlation of MediciNova 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.

MediciNova Correlation With Market

Average diversification

The correlation between MediciNova and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MediciNova and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MediciNova Stock

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

For more information on how to buy MediciNova Stock please use our How to Invest in MediciNova guide.

Moving against MediciNova Stock

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Related Correlations Analysis

	CRBU	CRSP	VERV	BEAM	PRME	SANA
CRBU		0.92	0.82	0.43	0.85	0.97	CRBU
CRSP	0.92		0.88	0.61	0.95	0.94	CRSP
VERV	0.82	0.88		0.4	0.84	0.81	VERV
BEAM	0.43	0.61	0.4		0.7	0.51	BEAM
PRME	0.85	0.95	0.84	0.7		0.9	PRME
SANA	0.97	0.94	0.81	0.51	0.9		SANA
	CRBU	CRSP	VERV	BEAM	PRME	SANA

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Risk-Adjusted Indicators

There is a big difference between MediciNova Stock performing well and MediciNova 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 MediciNova'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
CRBU	5.41	1.36	0.24	0.77	4.79	(6.66)	12.02	(8.49)	23.18
CRSP	2.85	0.66	0.22	0.56	2.83	(3.38)	7.09	(4.35)	16.14
VERV	5.61	2.50	0.50	(1.79)	3.28	(7.73)	9.83	(5.64)	83.78
BEAM	2.87	0.18	0.05	0.24	4.23	(2.92)	6.28	(4.15)	26.62
PRME	6.84	1.82	0.30	1.04	5.67	(9.04)	21.58	(10.81)	41.91
SANA	4.85	1.42	0.36	1.02	3.47	(6.48)	12.50	(7.06)	31.62

MediciNova Corporate Management

Jason CPA	CFO Officer	Profile
Dr MBA	Chief Officer	Profile
Yuichi MD	President, CoFounder	Profile
MD MPH	Chief Director	Profile
John CPA	Controller	Profile

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