Protalix Biotherapeutics Correlations

PLX Stock

USD 1.41 0.07 4.73%

The current 90-days correlation between Protalix Biotherapeutics and BioLineRx is 0.14 (i.e., Average diversification). The correlation of Protalix Biotherapeutics 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.

Protalix Biotherapeutics Correlation With Market

Average diversification

The correlation between Protalix Biotherapeutics 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 Protalix Biotherapeutics and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Protalix Biotherapeutics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Protalix Stock

0.83	EOLS	Evolus Inc	Pair Corr
0.79	KRYS	Krystal Biotech	Pair Corr
0.76	ANIP	ANI Pharmaceuticals	Pair Corr
0.97	ANIK	Anika Therapeutics	Pair Corr

Moving against Protalix Stock

0.82	COLL	Collegium Pharmaceutical	Pair Corr
0.79	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.79	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.73	SMFG	Sumitomo Mitsui Financial	Pair Corr
0.7	IMAB	I Mab	Pair Corr
0.7	SMFNF	Sumitomo Mitsui Financial	Pair Corr
0.66	ENTA	Enanta Pharmaceuticals	Pair Corr
0.6	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.5	ZLAB	Zai Lab	Pair Corr
0.41	ALKS	Alkermes Plc	Pair Corr
0.35	IMVT	Immunovant	Pair Corr
0.88	DIS	Walt Disney	Pair Corr
0.82	MSFT	Microsoft	Pair Corr
0.82	GE	GE Aerospace	Pair Corr
0.81	IBM	International Business	Pair Corr
0.8	CAT	Caterpillar	Pair Corr
0.79	MFG	Mizuho Financial	Pair Corr
0.78	KB	KB Financial Group Earnings Call Next Week	Pair Corr
0.78	WBD	Warner Bros Discovery Aggressive Push	Pair Corr
0.77	AXP	American Express Earnings Call This Week	Pair Corr
0.76	SHG	Shinhan Financial	Pair Corr
0.76	MMM	3M Company Earnings Call This Week	Pair Corr
0.76	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.65	CVX	Chevron Corp	Pair Corr
0.63	DD	Dupont De Nemours	Pair Corr
0.61	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.59	NWBI	Northwest Bancshares	Pair Corr

Related Correlations Analysis

	BLRX	ARDX	LXRX	MCRB	IBRX	PULM	CANF
BLRX		-0.39	0.62	-0.07	0.67	0.75	-0.55	BLRX
ARDX	-0.39		0.0	0.5	-0.13	-0.42	0.3	ARDX
LXRX	0.62	0.0		0.41	0.17	0.2	-0.58	LXRX
MCRB	-0.07	0.5	0.41		0.02	-0.5	0.3	MCRB
IBRX	0.67	-0.13	0.17	0.02		0.5	-0.12	IBRX
PULM	0.75	-0.42	0.2	-0.5	0.5		-0.43	PULM
CANF	-0.55	0.3	-0.58	0.3	-0.12	-0.43		CANF
	BLRX	ARDX	LXRX	MCRB	IBRX	PULM	CANF

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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

PULM	+ 0.75	BLRX
IBRX	+ 0.67	BLRX
LXRX	+ 0.62	BLRX
MCRB	+ 0.5	ARDX
PULM	+ 0.5	IBRX
MCRB	+ 0.41	LXRX

High negative correlations

CANF	- 0.58	LXRX
CANF	- 0.55	BLRX
PULM	- 0.5	MCRB
CANF	- 0.43	PULM
PULM	- 0.42	ARDX
ARDX	- 0.39	BLRX

Risk-Adjusted Indicators

There is a big difference between Protalix Stock performing well and Protalix Biotherapeutics 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 Protalix Biotherapeutics' 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
BLRX	4.78	0.96	0.16	1.19	4.69	(6.00)	13.09	(7.22)	60.43
ARDX	3.35	(0.03)	(0.02)	0.19	5.92	(3.22)	5.61	(6.33)	29.98
LXRX	4.77	1.32	0.18	(11.54)	5.02	(5.94)	12.28	(7.37)	28.71
MCRB	5.80	0.10	0.03	0.30	7.88	(6.28)	13.36	(9.17)	42.73
IBRX	4.01	(0.25)	(0.01)	0.10	5.20	(4.61)	9.21	(9.27)	27.21
PULM	3.63	0.22	0.02	0.80	3.49	(4.44)	11.40	(6.21)	27.23
CANF	2.37	(0.58)	0.00	(0.57)	0.00	0.00	6.02	(5.65)	29.34

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