Neptune Wellness Correlations
The correlation of Neptune Wellness 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 Neptune Wellness moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Neptune Wellness Solutions 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.
Good diversification
The correlation between Neptune Wellness Solutions and NYA is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neptune Wellness Solutions and NYA in the same portfolio, assuming nothing else is changed.
Neptune |
The ability to find closely correlated positions to Neptune Wellness could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Neptune Wellness 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 Neptune Wellness - 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 Neptune Wellness Solutions to buy it.
Moving against Neptune Stock
| 0.55 | RGA | Reinsurance Group | PairCorr |
| 0.55 | AXP | American Express Financial Report 19th of July 2024 | PairCorr |
| 0.54 | AA | Alcoa Corp Financial Report 17th of July 2024 | PairCorr |
| 0.54 | PG | Procter Gamble Financial Report 26th of July 2024 | PairCorr |
| 0.53 | MRK | Merck Company Earnings Call This Week | PairCorr |
| 0.51 | CRAI | CRA International | PairCorr |
| 0.47 | GE | GE Aerospace Financial Report 23rd of July 2024 | PairCorr |
| 0.47 | BAC | Bank of America Financial Report 16th of July 2024 | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Neptune Stock performing well and Neptune Wellness 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 Neptune Wellness' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TKNO | 3.72 | (0.70) | 0.00 | 2.61 | 0.00 | 7.44 | 36.59 | |||
| PAHC | 2.13 | 0.61 | 0.26 | 0.51 | 1.86 | 3.51 | 35.45 | |||
| SHMN | 5.49 | (0.56) | 0.00 | 5.46 | 0.00 | 11.11 | 38.18 | |||
| SSIC | 1.11 | 0.39 | 0.29 | (6.32) | 0.73 | 3.17 | 8.33 | |||
| EGRX | 3.66 | (0.73) | 0.00 | (0.55) | 0.00 | 7.20 | 26.10 | |||
| CPHI | 4.28 | (0.44) | 0.00 | 2.44 | 0.00 | 9.38 | 33.40 | |||
| UPC | 6.52 | 0.85 | 0.12 | 0.50 | 6.78 | 14.16 | 36.04 | |||
| SNOA | 5.13 | 0.80 | 0.09 | (0.55) | 4.59 | 7.69 | 79.71 | |||
| ACOR | 6.23 | (3.18) | 0.00 | (1.27) | 0.00 | 8.87 | 96.13 | |||
| AKAN | 8.82 | (1.61) | 0.00 | (0.78) | 0.00 | 26.36 | 60.66 |
View Neptune Wellness Related Equities
| Risk & Return | Correlation |
Neptune Wellness Corporate Management
Elected by the shareholders, the Neptune Wellness' board of directors comprises two types of representatives: Neptune Wellness inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Neptune. The board's role is to monitor Neptune Wellness' management team and ensure that shareholders' interests are well served. Neptune Wellness' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Neptune Wellness' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Sabrina Blasio | Director Communications | Profile | |
| Raymond Silcock | Ex CFO | Profile | |
| Melody Harwood | Head Business | Profile | |
| Marc Vaugeois | VP Sales | Profile | |
| Morry Brown | VP Relations | Profile | |
| Roger Corriveau | VicePres Devel | Profile | |
| Paola Patti | Director HR | Profile |
Still Interested in Neptune Wellness Solutions?
Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.
Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in american community survey. You can also try the Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Other Consideration for investing in Neptune Stock
If you are still planning to invest in Neptune Wellness Sol check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Neptune Wellness' history and understand the potential risks before investing.
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