Lucy Scientific Correlations

LSDI Stock

0 0.0009 75.00%

The current 90-days correlation between Lucy Scientific Discovery and Shuttle Pharmaceuticals is 0.03 (i.e., Significant diversification). The correlation of Lucy Scientific 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.

Lucy Scientific Correlation With Market

Average diversification

The correlation between Lucy Scientific Discovery 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 Lucy Scientific Discovery and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Lucy Scientific Discovery. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Lucy Stock

0.7	ENTX	Entera Bio	Pair Corr
0.79	IMMP	Immutep Ltd ADR Earnings Call Tomorrow	Pair Corr
0.83	ONCT	Oncternal Therapeutics	Pair Corr
0.79	ALVO	Alvotech	Pair Corr
0.61	TARA	Protara Therapeutics Earnings Call This Week	Pair Corr
0.73	CVI	CVR Energy Earnings Call This Week	Pair Corr

Moving against Lucy Stock

0.7	IRMD	Iradimed Earnings Call This Week	Pair Corr
0.59	VCNX	Vaccinex	Pair Corr
0.55	NUVL	Nuvalent	Pair Corr
0.55	ANIK	Anika Therapeutics	Pair Corr
0.54	NLSP	NLS Pharmaceutics	Pair Corr
0.4	OFIX	Orthofix Medical	Pair Corr
0.38	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.36	NUVB	Nuvation Bio Earnings Call This Week	Pair Corr
0.35	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.32	TIL	Instil Bio	Pair Corr
0.32	MBIO	Mustang Bio	Pair Corr
0.82	DECA	Denali Capital Acqui	Pair Corr
0.81	74153WCM9	US74153WCM91	Pair Corr
0.8	ARTE	Artemis Strategic	Pair Corr
0.77	TRCA	Twin Ridge Capital	Pair Corr
0.75	78397DAB4	SECBEN 5 18	Pair Corr
0.72	MDH	MDH Acquisition Corp	Pair Corr
0.71	APAC	Stonebridge Acquisition Symbol Change	Pair Corr
0.7	AAC	AAC Holdings	Pair Corr
0.69	SGHT	Sight Sciences Earnings Call This Week	Pair Corr
0.64	641062AV6	NESNVX 115 14	Pair Corr
0.49	SRDX	SurModics Earnings Call This Week	Pair Corr
0.42	806851AH4	US806851AH43	Pair Corr
0.34	63743FZL3	NATIONAL RURAL UTILS	Pair Corr
0.31	55336VAR1	MPLX LP 4	Pair Corr

Related Correlations Analysis

	SHPH	LFCR	DERM	AKAN	MNK	ALIM	ADMP	ORGO	CTLT	TLRY
SHPH		0.14	-0.05	-0.16	-0.06	-0.27	-0.29	0.12	-0.25	0.05	SHPH
LFCR	0.14		-0.75	0.57	0.78	-0.52	0.77	-0.18	-0.17	0.6	LFCR
DERM	-0.05	-0.75		-0.79	-0.83	0.62	-0.83	0.33	0.58	-0.51	DERM
AKAN	-0.16	0.57	-0.79		0.6	-0.54	0.79	-0.26	-0.44	0.56	AKAN
MNK	-0.06	0.78	-0.83	0.6		-0.51	0.84	-0.45	-0.38	0.49	MNK
ALIM	-0.27	-0.52	0.62	-0.54	-0.51		-0.43	0.47	0.77	-0.22	ALIM
ADMP	-0.29	0.77	-0.83	0.79	0.84	-0.43		-0.27	-0.24	0.62	ADMP
ORGO	0.12	-0.18	0.33	-0.26	-0.45	0.47	-0.27		0.51	0.03	ORGO
CTLT	-0.25	-0.17	0.58	-0.44	-0.38	0.77	-0.24	0.51		0.01	CTLT
TLRY	0.05	0.6	-0.51	0.56	0.49	-0.22	0.62	0.03	0.01		TLRY
	SHPH	LFCR	DERM	AKAN	MNK	ALIM	ADMP	ORGO	CTLT	TLRY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

ADMP	+ 0.84	MNK
ADMP	+ 0.79	AKAN
MNK	+ 0.78	LFCR
ADMP	+ 0.77	LFCR
CTLT	+ 0.77	ALIM
ALIM	+ 0.62	DERM

High negative correlations

ADMP	- 0.83	DERM
MNK	- 0.83	DERM
AKAN	- 0.79	DERM
DERM	- 0.75	LFCR
ALIM	- 0.54	AKAN
ALIM	- 0.52	LFCR

Risk-Adjusted Indicators

There is a big difference between Lucy Stock performing well and Lucy Scientific 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 Lucy Scientific'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
SHPH	3.28	0.36	0.04	(0.23)	3.80	(4.61)	5.26	(7.32)	28.60
LFCR	2.86	(0.10)	(0.02)	0.00	3.29	(3.38)	6.35	(5.16)	19.83
DERM	3.14	0.79	0.20	(1.16)	2.91	(3.96)	9.21	(4.83)	28.96
AKAN	7.94	(0.64)	0.00	(0.08)	0.00	0.00	25.27	(20.69)	92.66
MNK	16.59	3.35	0.10	(0.07)	13.99	(33.75)	12.50	(30.95)	504.19
ALIM	3.46	0.88	0.26	0.61	2.40	(4.66)	5.44	(5.98)	76.59
ADMP	4.75	(1.93)	0.00	(0.82)	0.00	0.00	8.72	(11.60)	40.76
ORGO	3.54	0.13	0.04	0.13	4.83	(4.19)	6.23	(4.61)	38.35
CTLT	0.46	0.04	(0.02)	0.25	0.42	(0.49)	1.11	(0.80)	3.91
TLRY	2.76	0.19	0.02	(0.19)	3.61	(3.94)	4.85	(4.89)	57.77

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