ProMIS Neurosciences Correlations

PMN Stock

USD 0.82 0.30 26.79%

The current 90-days correlation between ProMIS Neurosciences and Nuveen New York is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProMIS Neurosciences moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProMIS Neurosciences moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProMIS Neurosciences Correlation With Market

Significant diversification

The correlation between ProMIS Neurosciences and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProMIS Neurosciences 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 ProMIS Neurosciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

To learn how to invest in ProMIS Stock, please use our How to Invest in ProMIS Neurosciences guide.

Moving against ProMIS Stock

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Related Correlations Analysis

	CNTA	COYA	NAMS	NNY	NXN	PMM	PMO	PNF	RVXCF
CNTA		0.26	0.29	-0.3	0.12	0.34	0.12	-0.14	0.29	CNTA
COYA	0.26		0.17	0.07	0.15	0.29	0.3	0.32	-0.03	COYA
NAMS	0.29	0.17		-0.14	-0.13	-0.19	0.03	-0.17	0.63	NAMS
NNY	-0.3	0.07	-0.14		0.07	0.03	0.34	0.38	-0.2	NNY
NXN	0.12	0.15	-0.13	0.07		0.49	0.68	0.52	-0.06	NXN
PMM	0.34	0.29	-0.19	0.03	0.49		0.64	0.59	-0.41	PMM
PMO	0.12	0.3	0.03	0.34	0.68	0.64		0.68	-0.05	PMO
PNF	-0.14	0.32	-0.17	0.38	0.52	0.59	0.68		-0.42	PNF
RVXCF	0.29	-0.03	0.63	-0.2	-0.06	-0.41	-0.05	-0.42		RVXCF
	CNTA	COYA	NAMS	NNY	NXN	PMM	PMO	PNF	RVXCF

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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

PMO	+ 0.68	NXN
PNF	+ 0.68	PMO
PMO	+ 0.64	PMM
RVXCF	+ 0.63	NAMS
PNF	+ 0.59	PMM
PNF	+ 0.52	NXN

High negative correlations

RVXCF	- 0.42	PNF
RVXCF	- 0.41	PMM
NNY	- 0.3	CNTA
RVXCF	- 0.2	NNY
PMM	- 0.19	NAMS
PNF	- 0.17	NAMS

Risk-Adjusted Indicators

There is a big difference between ProMIS Stock performing well and ProMIS Neurosciences 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 ProMIS Neurosciences' 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
CNTA	2.48	0.61	0.10	(0.71)	2.99	(2.82)	4.85	(5.35)	15.95
COYA	2.44	(0.28)	0.00	(0.33)	0.00	0.00	4.13	(4.82)	17.39
NAMS	2.43	0.30	0.09	0.43	3.06	(2.53)	4.70	(5.19)	14.71
NNY	0.31	0.01	(0.35)	(0.37)	0.34	(0.40)	0.62	(0.73)	2.34
NXN	0.35	0.00	(0.33)	0.13	0.41	(0.40)	0.62	(0.70)	2.79
PMM	0.52	0.03	(0.20)	(0.12)	0.66	(0.63)	1.39	(1.02)	4.31
PMO	0.39	(0.04)	(0.29)	0.00	0.51	(0.47)	0.81	(0.81)	3.03
PNF	0.45	(0.03)	0.00	(0.24)	0.00	0.00	0.87	(1.29)	2.72
RVXCF	8.49	4.06	0.00	(1.06)	0.00	0.00	36.36	(7.94)	75.00

ProMIS Neurosciences Corporate Management

Gail Farfel	Chief Officer	Profile
Daniel MBA	Chief Officer	Profile
Johanne Kaplan	Chief Officer	Profile
Dennis Chen	Head Consultant	Profile
David Wishart	Chief Officer	Profile

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