Eagle Pharmaceuticals Correlations

EGRX Stock  USD 5.87  0.11  1.91%   
The current 90-days correlation between Eagle Pharmaceuticals and ANI Pharmaceuticals is 0.18 (i.e., Average diversification). The correlation of Eagle Pharmaceuticals 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.

Eagle Pharmaceuticals Correlation With Market

Average diversification

The correlation between Eagle Pharmaceuticals and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Pharmaceuticals and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eagle Pharmaceuticals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.
For more information on how to buy Eagle Stock please use our How to Invest in Eagle Pharmaceuticals guide.

Moving together with Eagle Stock

  0.77GILD Gilead SciencesPairCorr
  0.66ACAD ACADIA PharmaceuticalsPairCorr
  0.62AKRO Akero TherapeuticsPairCorr
  0.61AMLX Amylyx PharmaceuticalsPairCorr
  0.75AXSM Axsome TherapeuticsPairCorr
  0.72SRPT Sarepta TherapeuticsPairCorr
  0.7TGTX TG TherapeuticsPairCorr
  0.8CTLT Catalent Fiscal Year End 3rd of September 2024 PairCorr

Moving against Eagle Stock

  0.64XFOR X4 PharmaceuticalsPairCorr
  0.62ENVB Enveric BiosciencesPairCorr
  0.58ELEV Elevation OncologyPairCorr
  0.57OCEA Ocean BiomedicalPairCorr
  0.42ZURA Zura Bio LimitedPairCorr
  0.36PTCT PTC TherapeuticsPairCorr
  0.35ACB Aurora CannabisPairCorr
  0.34CGC Canopy Growth CorpPairCorr
  0.54688639 Anhui Huaheng Biotec SplitPairCorr
  0.49688193 Shanghai Rendu BiotePairCorr
  0.45603122 Cowealth Medical ChinaPairCorr
  0.38ALLR Allarity TherapeuticsPairCorr
  0.34CRON Cronos GroupPairCorr

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   
AMPHRGC
EOLSAMPH
EOLSRGC
SSICPAHC
RGCCOLL
COLLANIP
  
High negative correlations   
SSICCOLL
RGCSSIC
SSICANIP
EOLSSSIC
COLLPAHC
AMPHSSIC

Risk-Adjusted Indicators

There is a big difference between Eagle Stock performing well and Eagle Pharmaceuticals 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 Eagle Pharmaceuticals' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ANIP  1.53 (0.12) 0.00 (0.14) 0.00 
 3.11 
 10.99 
PAHC  2.41  0.54  0.23  0.53  1.92 
 6.15 
 36.18 
DCPH  1.66 (0.24) 0.00 (0.53) 0.00 
 3.27 
 9.66 
PBH  0.96  0.04 (0.01) 0.23  1.52 
 2.03 
 9.04 
COLL  1.57 (0.12) 0.00 (0.81) 0.00 
 3.45 
 20.25 
SSIC  1.09  0.29  0.13 (1.66) 1.07 
 3.14 
 9.98 
RGC  5.65  0.10  0.01  0.20  6.99 
 13.33 
 49.78 
AMPH  1.32 (0.09) 0.00 (0.08) 0.00 
 2.76 
 7.42 
ALKS  1.19  0.02 (0.01) 0.14  1.38 
 2.58 
 7.11 
EOLS  1.78 (0.05)(0.04) 0.01  2.16 
 3.68 
 12.95 

Eagle Pharmaceuticals Corporate Management