Relmada Therapeutics Correlations

RLMD Stock

USD 4.06 0.13 3.10%

The current 90-days correlation between Relmada Therapeutics and Acrivon Therapeutics, Common is 0.21 (i.e., Modest diversification). The correlation of Relmada Therapeutics 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.

Relmada Therapeutics Correlation With Market

Average diversification

The correlation between Relmada Therapeutics and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Relmada Therapeutics 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 Relmada Therapeutics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

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

Moving together with Relmada Stock

0.88	AZN	AstraZeneca PLC ADR	Pair Corr
0.88	GSK	GlaxoSmithKline PLC ADR Sell-off Trend	Pair Corr
0.9	JNJ	Johnson Johnson	Pair Corr
0.92	MRK	Merck Company	Pair Corr
0.64	PFE	Pfizer Inc	Pair Corr
0.82	SHG	Shinhan Financial	Pair Corr
0.61	KB	KB Financial Group	Pair Corr
0.8	EC	Ecopetrol SA ADR	Pair Corr
0.84	TLK	Telkom Indonesia Tbk	Pair Corr
0.87	MTC	MMTEC Inc Tech Boost	Pair Corr
0.76	JBHT	JB Hunt Transport	Pair Corr
0.84	NHIC	NewHold Investment Corp	Pair Corr
0.89	DRXGF	Drax Group plc	Pair Corr
0.84	GKOS	Glaukos Corp	Pair Corr
0.83	AAPL	Apple Inc	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.64	AXP	American Express	Pair Corr
0.78	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr
0.9	DD	Dupont De Nemours	Pair Corr

Moving against Relmada Stock

0.91	SNES	SenesTech	Pair Corr
0.89	VFSWW	VinFast Auto	Pair Corr
0.87	MVP	Medical Developments	Pair Corr
0.79	NVO	Novo Nordisk AS Aggressive Push	Pair Corr
0.78	EXL	Elixinol Wellness	Pair Corr
0.91	HD	Home Depot	Pair Corr
0.86	HPQ	HP Inc	Pair Corr
0.81	BA	Boeing	Pair Corr
0.8	DIS	Walt Disney	Pair Corr
0.71	PG	Procter Gamble	Pair Corr
0.59	T	ATT Inc	Pair Corr
0.54	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	ACRV	PMVP	IMUX	TCRX	VXRT	LITS	FBIO	RPTX	CBUS	ACET
ACRV		-0.14	-0.75	-0.66	-0.07	-0.82	-0.61	0.79	0.2	-0.73	ACRV
PMVP	-0.14		0.46	0.59	-0.36	-0.04	-0.2	-0.23	0.12	0.56	PMVP
IMUX	-0.75	0.46		0.77	-0.11	0.76	0.46	-0.64	-0.06	0.8	IMUX
TCRX	-0.66	0.59	0.77		-0.33	0.47	0.19	-0.5	0.37	0.94	TCRX
VXRT	-0.07	-0.36	-0.11	-0.33		0.23	0.29	-0.02	-0.4	-0.31	VXRT
LITS	-0.82	-0.04	0.76	0.47	0.23		0.75	-0.62	-0.23	0.53	LITS
FBIO	-0.61	-0.2	0.46	0.19	0.29	0.75		-0.35	-0.18	0.25	FBIO
RPTX	0.79	-0.23	-0.64	-0.5	-0.02	-0.62	-0.35		0.24	-0.6	RPTX
CBUS	0.2	0.12	-0.06	0.37	-0.4	-0.23	-0.18	0.24		0.19	CBUS
ACET	-0.73	0.56	0.8	0.94	-0.31	0.53	0.25	-0.6	0.19		ACET
	ACRV	PMVP	IMUX	TCRX	VXRT	LITS	FBIO	RPTX	CBUS	ACET

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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

ACET	+ 0.94	TCRX
ACET	+ 0.8	IMUX
RPTX	+ 0.79	ACRV
TCRX	+ 0.77	IMUX
LITS	+ 0.76	IMUX
FBIO	+ 0.75	LITS

High negative correlations

LITS	- 0.82	ACRV
IMUX	- 0.75	ACRV
ACET	- 0.73	ACRV
TCRX	- 0.66	ACRV
RPTX	- 0.64	IMUX
RPTX	- 0.62	LITS

Risk-Adjusted Indicators

There is a big difference between Relmada Stock performing well and Relmada Therapeutics 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 Relmada Therapeutics' 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
ACRV	3.84	0.76	0.19	0.66	3.67	(4.80)	8.62	(6.63)	26.30
PMVP	3.04	(0.03)	0.00	0.04	3.37	(3.52)	6.50	(6.85)	14.61
IMUX	3.28	(0.53)	0.00	(0.22)	0.00	0.00	7.06	(6.58)	17.09
TCRX	4.94	(0.81)	0.00	(0.25)	0.00	0.00	11.21	(9.68)	50.92
VXRT	2.49	0.08	0.00	0.01	0.00	0.00	5.56	(5.26)	22.65
LITS	4.60	(0.91)	0.00	(0.44)	0.00	0.00	7.65	(8.33)	23.65
FBIO	3.47	(0.36)	0.00	(0.15)	0.00	0.00	5.49	(8.30)	39.80
RPTX	2.13	0.37	0.11	(0.62)	2.02	(2.76)	2.96	(3.47)	35.71
CBUS	4.22	0.21	0.05	0.18	4.52	(4.99)	11.03	(7.47)	20.94
ACET	3.92	(0.75)	0.00	(1.49)	0.00	0.00	6.59	(8.20)	35.48

Relmada Therapeutics Corporate Management

John Hixon	Head Commercial	Profile
Marco MD	Chief Officer	Profile
Andrew Cutler	Senior Advisor	Profile
FACS MD	Chief Urology	Profile
Richard Mangano	Chief Scientific Officer	Profile
MBA MBA	CEO Director	Profile

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