Aldeyra Correlations

ALDX Stock

USD 4.94 0.14 2.92%

The current 90-days correlation between Aldeyra and Eton Pharmaceuticals is -0.01 (i.e., Good diversification). The correlation of Aldeyra 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.

Aldeyra Correlation With Market

Weak diversification

The correlation between Aldeyra and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aldeyra 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 Aldeyra. 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.

For more information on how to buy Aldeyra Stock please use our How to Invest in Aldeyra guide.

Moving together with Aldeyra Stock

0.68	FDMT	4D Molecular Therapeutics	Pair Corr
0.85	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.76	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.65	MREO	Mereo BioPharma Group	Pair Corr
0.82	NKTX	Nkarta Inc Buyout Trend	Pair Corr
0.73	PEPG	PepGen	Pair Corr
0.71	ADAP	Adaptimmune Therapeutics	Pair Corr
0.62	STOK	Stoke Therapeutics	Pair Corr
0.69	BDTX	Black Diamond Therap	Pair Corr
0.65	COLL	Collegium Pharmaceutical	Pair Corr

Moving against Aldeyra Stock

0.79	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr
0.7	NAMS	NewAmsterdam Pharma	Pair Corr
0.32	ESLAW	Estrella Immunopharma	Pair Corr
0.32	PMVP	Pmv Pharmaceuticals	Pair Corr
0.66	AVTE	Aerovate Therapeutics	Pair Corr
0.63	VREX	Varex Imaging Corp	Pair Corr
0.6	CRVS	Corvus Pharmaceuticals	Pair Corr
0.58	SGMO	Sangamo Therapeutics Buyout Trend	Pair Corr
0.54	AGIO	Agios Pharm	Pair Corr
0.31	ANTX	AN2 Therapeutics	Pair Corr

Related Correlations Analysis

	TARS	LIAN	TVTX	ETON	VRDN	TERN	GPCR	BPMC	ETNB	XFOR
TARS		0.12	0.86	0.91	0.47	-0.66	-0.5	0.44	0.38	-0.74	TARS
LIAN	0.12		0.42	0.2	0.62	-0.11	0.21	-0.21	-0.51	-0.21	LIAN
TVTX	0.86	0.42		0.86	0.75	-0.5	-0.32	0.1	0.06	-0.71	TVTX
ETON	0.91	0.2	0.86		0.46	-0.76	-0.58	0.32	0.2	-0.9	ETON
VRDN	0.47	0.62	0.75	0.46		-0.06	0.24	-0.05	-0.18	-0.26	VRDN
TERN	-0.66	-0.11	-0.5	-0.76	-0.06		0.55	-0.31	-0.25	0.81	TERN
GPCR	-0.5	0.21	-0.32	-0.58	0.24	0.55		-0.23	-0.32	0.64	GPCR
BPMC	0.44	-0.21	0.1	0.32	-0.05	-0.31	-0.23		0.67	-0.11	BPMC
ETNB	0.38	-0.51	0.06	0.2	-0.18	-0.25	-0.32	0.67		-0.01	ETNB
XFOR	-0.74	-0.21	-0.71	-0.9	-0.26	0.81	0.64	-0.11	-0.01		XFOR
	TARS	LIAN	TVTX	ETON	VRDN	TERN	GPCR	BPMC	ETNB	XFOR

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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

ETON	+ 0.91	TARS
TVTX	+ 0.86	TARS
ETON	+ 0.86	TVTX
XFOR	+ 0.81	TERN
VRDN	+ 0.75	TVTX
ETNB	+ 0.67	BPMC

High negative correlations

XFOR	- 0.9	ETON
TERN	- 0.76	ETON
XFOR	- 0.74	TARS
XFOR	- 0.71	TVTX
TERN	- 0.66	TARS
GPCR	- 0.58	ETON

Risk-Adjusted Indicators

There is a big difference between Aldeyra Stock performing well and Aldeyra 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 Aldeyra'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
TARS	2.64	0.92	0.39	1.28	1.78	(3.42)	6.32	(3.85)	16.85
LIAN	2.99	0.17	0.01	(0.74)	3.34	(3.44)	6.76	(5.00)	20.98
TVTX	3.12	1.05	0.41	0.98	1.95	(4.30)	11.58	(4.13)	23.97
ETON	2.67	1.50	0.48	1.32	1.81	(3.46)	7.56	(3.13)	21.89
VRDN	3.19	0.48	0.15	0.37	3.44	(3.75)	6.84	(5.29)	44.89
TERN	3.39	(0.35)	0.00	(0.23)	0.00	0.00	6.02	(5.96)	34.09
GPCR	2.92	(0.30)	0.00	(0.32)	0.00	0.00	8.18	(6.07)	24.50
BPMC	1.81	(0.09)	(0.02)	0.04	2.58	(1.72)	4.90	(3.62)	14.28
ETNB	2.69	(0.25)	(0.01)	0.02	3.33	(3.24)	5.01	(6.35)	27.43
XFOR	5.04	(0.48)	0.00	(0.23)	0.00	0.00	8.82	(10.61)	62.35

Aldeyra Corporate Management

David Burke	Head Relations	Profile
Michael Alfieri	Principal Officer	Profile
Kelly Mizer	Vice Operations	Profile
Laura Nichols	Operations Manager	Profile

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