Nutriband Correlations

NTRB Stock

USD 8.11 0.35 4.51%

The current 90-days correlation between Nutriband and Nutriband Warrant is 0.8 (i.e., Very poor diversification). The correlation of Nutriband 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.

Nutriband Correlation With Market

Average diversification

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

Build AI portfolio with Nutriband Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nutriband. 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.

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

Moving together with Nutriband Stock

0.86	PFE	Pfizer Inc	Pair Corr
0.78	KMDA	Kamada	Pair Corr
0.65	NKTR	Nektar Therapeutics	Pair Corr
0.82	CGEN	Compugen	Pair Corr
0.74	FNMFO	Federal National Mortgage	Pair Corr
0.66	AVAL	Grupo Aval	Pair Corr
0.87	KB	KB Financial Group Earnings Call This Week	Pair Corr
0.85	SHG	Shinhan Financial Earnings Call This Week	Pair Corr
0.84	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.71	BAC-PL	Bank of America	Pair Corr
0.83	CSCO	Cisco Systems	Pair Corr
0.83	IBM	International Business Earnings Call This Week	Pair Corr
0.7	AA	Alcoa Corp	Pair Corr
0.8	MSFT	Microsoft	Pair Corr
0.77	CVX	Chevron Corp	Pair Corr
0.77	DIS	Walt Disney	Pair Corr
0.8	AXP	American Express	Pair Corr

Moving against Nutriband Stock

0.44	PG	Procter Gamble	Pair Corr
0.39	KO	Coca Cola Earnings Call This Week	Pair Corr

Related Correlations Analysis

	KTTA	NTRBW	ZIVO	MNOV	CLYM	IMMX	BFRI	SOPA	ISPC
KTTA		-0.45	0.0	0.86	-0.13	-0.67	0.29	-0.75	0.63	KTTA
NTRBW	-0.45		0.0	-0.55	0.35	0.75	0.03	0.46	-0.24	NTRBW
ZIVO	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	ZIVO
MNOV	0.86	-0.55	0.0		-0.29	-0.73	0.0	-0.52	0.69	MNOV
CLYM	-0.13	0.35	0.0	-0.29		0.45	0.54	-0.11	0.08	CLYM
IMMX	-0.67	0.75	0.0	-0.73	0.45		0.0	0.61	-0.44	IMMX
BFRI	0.29	0.03	0.0	0.0	0.54	0.0		-0.58	0.13	BFRI
SOPA	-0.75	0.46	0.0	-0.52	-0.11	0.61	-0.58		-0.45	SOPA
ISPC	0.63	-0.24	0.0	0.69	0.08	-0.44	0.13	-0.45		ISPC
	KTTA	NTRBW	ZIVO	MNOV	CLYM	IMMX	BFRI	SOPA	ISPC

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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

MNOV	+ 0.86	KTTA
IMMX	+ 0.75	NTRBW
ISPC	+ 0.69	MNOV
ISPC	+ 0.63	KTTA
SOPA	+ 0.61	IMMX
BFRI	+ 0.54	CLYM

High negative correlations

SOPA	- 0.75	KTTA
IMMX	- 0.73	MNOV
IMMX	- 0.67	KTTA
SOPA	- 0.58	BFRI
MNOV	- 0.55	NTRBW
SOPA	- 0.52	MNOV

Risk-Adjusted Indicators

There is a big difference between Nutriband Stock performing well and Nutriband 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 Nutriband'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
KTTA	4.12	(0.74)	0.00	0.76	0.00	0.00	7.69	(13.54)	37.52
NTRBW	11.51	2.98	0.16	(2.70)	8.96	(24.87)	27.62	(20.00)	152.46
ZIVO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MNOV	1.75	(0.22)	0.00	(0.60)	0.00	0.00	3.36	(4.40)	11.32
CLYM	3.31	0.09	0.04	0.19	3.48	(4.07)	7.50	(6.35)	20.13
IMMX	4.19	0.90	0.15	0.83	5.33	(4.90)	10.05	(6.28)	34.23
BFRI	3.63	0.16	0.03	0.32	4.04	(4.55)	7.50	(6.15)	22.98
SOPA	4.57	0.96	0.19	7.76	3.74	(6.35)	10.43	(6.47)	54.75
ISPC	3.31	(0.30)	0.00	(0.15)	0.00	0.00	8.20	(7.55)	19.90

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