Protalix Biotherapeutics Correlations

PLX Stock

USD 1.69 0.01 0.60%

The current 90-days correlation between Protalix Biotherapeutics and Checkpoint Therapeutics is -0.08 (i.e., Good diversification). The correlation of Protalix Biotherapeutics 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.

Protalix Biotherapeutics Correlation With Market

Good diversification

The correlation between Protalix Biotherapeutics and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Protalix Biotherapeutics and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Protalix Biotherapeutics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Protalix Stock

0.79	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr
0.61	NAMS	NewAmsterdam Pharma	Pair Corr
0.75	AGIO	Agios Pharm	Pair Corr
0.64	ANTX	AN2 Therapeutics	Pair Corr
0.65	SGMO	Sangamo Therapeutics Buyout Trend	Pair Corr
0.76	AVTE	Aerovate Therapeutics	Pair Corr
0.68	CRVS	Corvus Pharmaceuticals	Pair Corr
0.85	VREX	Varex Imaging Corp	Pair Corr

Moving against Protalix Stock

0.87	PEPG	PepGen	Pair Corr
0.86	MREO	Mereo BioPharma Group	Pair Corr
0.81	PDSB	PDS Biotechnology Corp	Pair Corr
0.74	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.74	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.73	NKTX	Nkarta Inc Buyout Trend	Pair Corr
0.62	IVVD	Invivyd	Pair Corr
0.51	FDMT	4D Molecular Therapeutics	Pair Corr
0.39	PIRS	Pieris Pharmaceuticals	Pair Corr
0.38	RGNX	Regenxbio	Pair Corr
0.37	INKT	Mink Therapeutics	Pair Corr
0.83	COLL	Collegium Pharmaceutical	Pair Corr
0.77	APTO	Aptose Biosciences	Pair Corr
0.71	ADAP	Adaptimmune Therapeutics	Pair Corr
0.64	BDTX	Black Diamond Therap	Pair Corr
0.62	ANEB	Anebulo Pharmaceuticals	Pair Corr
0.57	AFMD	Affimed NV	Pair Corr
0.52	BCYC	Bicycle Therapeutics	Pair Corr
0.48	ACRV	Acrivon Therapeutics,	Pair Corr
0.42	STOK	Stoke Therapeutics	Pair Corr
0.42	SYBX	Synlogic	Pair Corr
0.38	TCBPW	TC BioPharm plc	Pair Corr

Related Correlations Analysis

	CRVS	ALDX	GMDA	CKPT	CDTX	AKBA	XFOR	MCRB	EFTR	PDSB
CRVS		-0.6	-0.12	0.94	0.59	0.79	-0.74	-0.57	-0.46	-0.4	CRVS
ALDX	-0.6		0.13	-0.61	-0.56	-0.56	0.75	0.65	0.1	0.46	ALDX
GMDA	-0.12	0.13		-0.29	-0.66	-0.59	0.15	0.09	-0.08	0.64	GMDA
CKPT	0.94	-0.61	-0.29		0.72	0.84	-0.79	-0.55	-0.36	-0.54	CKPT
CDTX	0.59	-0.56	-0.66	0.72		0.81	-0.65	-0.29	-0.14	-0.78	CDTX
AKBA	0.79	-0.56	-0.59	0.84	0.81		-0.58	-0.53	-0.19	-0.6	AKBA
XFOR	-0.74	0.75	0.15	-0.79	-0.65	-0.58		0.62	0.38	0.61	XFOR
MCRB	-0.57	0.65	0.09	-0.55	-0.29	-0.53	0.62		0.03	0.26	MCRB
EFTR	-0.46	0.1	-0.08	-0.36	-0.14	-0.19	0.38	0.03		0.18	EFTR
PDSB	-0.4	0.46	0.64	-0.54	-0.78	-0.6	0.61	0.26	0.18		PDSB
	CRVS	ALDX	GMDA	CKPT	CDTX	AKBA	XFOR	MCRB	EFTR	PDSB

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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

CKPT	+ 0.94	CRVS
AKBA	+ 0.84	CKPT
AKBA	+ 0.81	CDTX
AKBA	+ 0.79	CRVS
XFOR	+ 0.75	ALDX
CDTX	+ 0.72	CKPT

High negative correlations

XFOR	- 0.79	CKPT
PDSB	- 0.78	CDTX
XFOR	- 0.74	CRVS
CDTX	- 0.66	GMDA
XFOR	- 0.65	CDTX
CKPT	- 0.61	ALDX

Risk-Adjusted Indicators

There is a big difference between Protalix Stock performing well and Protalix Biotherapeutics 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 Protalix Biotherapeutics' 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
CRVS	3.70	1.22	0.31	0.93	2.99	(4.29)	9.38	(4.88)	23.11
ALDX	2.80	(0.25)	0.00	(0.04)	0.00	0.00	6.69	(5.26)	22.45
GMDA	3.41	(0.20)	0.00	(0.14)	0.00	0.00	6.81	(7.28)	28.30
CKPT	3.22	1.01	0.25	3.12	3.05	(3.79)	7.91	(5.73)	19.17
CDTX	2.85	0.70	0.22	1.87	2.50	(3.76)	7.38	(3.84)	25.29
AKBA	2.57	0.32	0.13	0.29	2.61	(3.27)	6.22	(4.11)	26.21
XFOR	5.04	(0.48)	0.00	(0.23)	0.00	0.00	8.82	(10.61)	62.35
MCRB	4.93	0.32	0.04	1.12	5.57	(5.97)	10.84	(9.78)	28.84
EFTR	7.57	(4.57)	0.00	(470.75)	0.00	0.00	8.70	(27.78)	88.91
PDSB	3.34	(0.65)	0.00	(0.27)	0.00	0.00	7.67	(6.76)	31.83

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