Cellectar Biosciences Correlations
| CLRB Stock | USD 3.06 0.05 1.61% |
The correlation of Cellectar Biosciences 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cellectar Biosciences moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cellectar Biosciences moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between Cellectar Biosciences and NYA is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cellectar Biosciences and NYA in the same portfolio, assuming nothing else is changed.
Cellectar |
The ability to find closely correlated positions to Cellectar Biosciences could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cellectar Biosciences when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Cellectar Biosciences - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Cellectar Biosciences to buy it.
Moving together with Cellectar Stock
| 0.61 | INZY | Inozyme PharmaInc Financial Report 14th of May 2024 | PairCorr |
Moving against Cellectar Stock
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Cellectar Stock performing well and Cellectar Biosciences 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 Cellectar Biosciences' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DFFN | 4.11 | (0.16) | 0.00 | (0.37) | 0.00 | 11.68 | 37.53 | |||
| MNPR | 9.02 | 1.86 | 0.22 | 1.20 | 6.89 | 16.07 | 114.41 | |||
| PULM | 2.59 | 0.23 | 0.05 | 0.99 | 2.64 | 6.91 | 16.75 | |||
| TENX | 5.66 | (0.88) | 0.00 | (0.37) | 0.00 | 10.87 | 95.75 | |||
| BPTH | 5.49 | (1.22) | 0.00 | 1.19 | 0.00 | 9.49 | 61.56 | |||
| CBIO | 40.44 | 16.83 | 2.59 | 0.40 | 5.45 | 23.26 | 39.30 | |||
| CAPR | 2.85 | 0.25 | 0.07 | 0.31 | 3.23 | 7.29 | 25.87 | |||
| NXTC | 4.34 | 0.58 | 0.10 | 1.40 | 4.85 | 8.13 | 32.17 | |||
| LBPH | 3.59 | (0.42) | 0.00 | (0.07) | 0.00 | 7.05 | 18.54 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Cellectar Biosciences without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Cellectar Biosciences Corporate Directors
Cellectar Biosciences corporate directors refer to members of a Cellectar Biosciences board of directors. The board of directors generally takes responsibility for the Cellectar Biosciences' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Cellectar Biosciences' board members must vote for the resolution. The Cellectar Biosciences board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Douglas Swirsky | Director | Profile | |
| Paul Berns | Independent Director | Profile | |
| Jamey Weichert | Founder, Technology Founder, Chief Scientific Officer and Director | Profile | |
| Stefan Loren | Independent Director | Profile |
Already Invested in Cellectar Biosciences?
The danger of trading Cellectar Biosciences is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Cellectar Biosciences is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Cellectar Biosciences. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Cellectar Biosciences is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Cellectar Biosciences offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Cellectar Biosciences' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Cellectar Biosciences Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Cellectar Biosciences Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cellectar Biosciences. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in metropolitan statistical area. For information on how to trade Cellectar Stock refer to our How to Trade Cellectar Stock guide.You can also try the Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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When running Cellectar Biosciences' price analysis, check to measure Cellectar Biosciences' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Cellectar Biosciences is operating at the current time. Most of Cellectar Biosciences' value examination focuses on studying past and present price action to predict the probability of Cellectar Biosciences' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cellectar Biosciences' price. Additionally, you may evaluate how the addition of Cellectar Biosciences to your portfolios can decrease your overall portfolio volatility.
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Is Cellectar Biosciences' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Cellectar Biosciences. If investors know Cellectar will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Cellectar Biosciences listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (3.11) | Return On Assets (1.45) | Return On Equity (5.37) |
The market value of Cellectar Biosciences is measured differently than its book value, which is the value of Cellectar that is recorded on the company's balance sheet. Investors also form their own opinion of Cellectar Biosciences' value that differs from its market value or its book value, called intrinsic value, which is Cellectar Biosciences' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Cellectar Biosciences' market value can be influenced by many factors that don't directly affect Cellectar Biosciences' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Cellectar Biosciences' value and its price as these two are different measures arrived at by different means. Investors typically determine if Cellectar Biosciences is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Cellectar Biosciences' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.