Alkermes Plc Correlations

ALKS Stock

USD 27.88 0.16 0.57%

The current 90-days correlation between Alkermes Plc and Phibro Animal Health is 0.2 (i.e., Modest diversification). The correlation of Alkermes Plc 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.

Alkermes Plc Correlation With Market

Significant diversification

The correlation between Alkermes Plc and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alkermes Plc and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alkermes Plc. 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 more information on how to buy Alkermes Stock please use our How to Invest in Alkermes Plc guide.

Moving against Alkermes Stock

0.4	ATHE	Alterity Therapeutics	Pair Corr
0.39	ONCT	Oncternal Therapeutics	Pair Corr
0.31	ALVO	Alvotech	Pair Corr
0.4	55336VAR1	MPLX LP 4	Pair Corr

Related Correlations Analysis

	DLTNF	CVGRF	BHHKF	SPBBF	PROCW	SSIC	EGRX	PAHC	COSM
DLTNF		0.0	0.0	0.0	0.78	-0.8	-0.55	-0.34	-0.7	DLTNF
CVGRF	0.0		1.0	0.0	0.0	0.0	0.0	0.0	0.0	CVGRF
BHHKF	0.0	1.0		0.0	0.0	0.0	0.0	0.0	0.0	BHHKF
SPBBF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SPBBF
PROCW	0.78	0.0	0.0	0.0		-0.74	-0.31	-0.57	-0.53	PROCW
SSIC	-0.8	0.0	0.0	0.0	-0.74		0.59	0.47	0.66	SSIC
EGRX	-0.55	0.0	0.0	0.0	-0.31	0.59		0.2	0.85	EGRX
PAHC	-0.34	0.0	0.0	0.0	-0.57	0.47	0.2		0.43	PAHC
COSM	-0.7	0.0	0.0	0.0	-0.53	0.66	0.85	0.43		COSM
	DLTNF	CVGRF	BHHKF	SPBBF	PROCW	SSIC	EGRX	PAHC	COSM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

BHHKF	+ 1.0	CVGRF
COSM	+ 0.85	EGRX
PROCW	+ 0.78	DLTNF
COSM	+ 0.66	SSIC
EGRX	+ 0.59	SSIC
PAHC	+ 0.47	SSIC

High negative correlations

SSIC	- 0.8	DLTNF
SSIC	- 0.74	PROCW
COSM	- 0.7	DLTNF
PAHC	- 0.57	PROCW
EGRX	- 0.55	DLTNF
COSM	- 0.53	PROCW

Risk-Adjusted Indicators

There is a big difference between Alkermes Stock performing well and Alkermes Plc 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 Alkermes Plc'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
DLTNF	8.55	(0.07)	0.00	0.16	0.00	0.00	17.65	(26.67)	113.33
CVGRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BHHKF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SPBBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PROCW	12.15	0.13	0.01	0.16	14.24	(17.68)	27.81	(25.45)	114.93
SSIC	1.03	0.15	0.05	(0.85)	1.22	(1.09)	3.13	(2.09)	9.98
EGRX	3.56	0.29	0.06	0.30	4.45	(4.05)	9.27	(6.81)	19.81
PAHC	2.31	0.51	0.22	0.55	1.88	(2.82)	6.15	(3.60)	36.18
COSM	5.26	1.47	0.28	1.83	4.03	(7.73)	15.89	(8.18)	63.83

Alkermes Plc Corporate Management

Peter Norman	Senior Relations	Profile
Iain Brown	Chief Accounting Officer	Profile
Blair Jackson	Executive Officer	Profile
Declan OConnor	Health Environment	Profile
Samuel Parisi	Interim Finance	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC