TNF Pharmaceuticals, Correlations

TNFA Stock

1.36 0.11 7.48%

The current 90-days correlation between TNF Pharmaceuticals, and Oric Pharmaceuticals is -0.26 (i.e., Very good diversification). The correlation of TNF 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.

TNF Pharmaceuticals, Correlation With Market

Good diversification

The correlation between TNF Pharmaceuticals, and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TNF Pharmaceuticals, and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in TNF 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 census.

For information on how to trade TNF Stock refer to our How to Trade TNF Stock guide.

Moving together with TNF Stock

0.66	EQ	Equillium	Pair Corr
0.66	VALN	Valneva SE ADR	Pair Corr
0.62	DRRX	Durect	Pair Corr
0.71	VIRX	Viracta Therapeutics	Pair Corr

Moving against TNF Stock

0.73	VCEL	Vericel Corp Ord	Pair Corr
0.71	DVAX	Dynavax Technologies	Pair Corr
0.7	VCYT	Veracyte	Pair Corr
0.63	VERA	Vera Therapeutics	Pair Corr
0.54	VANI	Vivani Medical	Pair Corr
0.49	DRTS	Alpha Tau Medical	Pair Corr
0.47	DYAI	Dyadic International	Pair Corr
0.45	DSGN	Design Therapeutics	Pair Corr
0.43	SABSW	SAB Biotherapeutics	Pair Corr
0.41	VCNX	Vaccinex	Pair Corr
0.4	SRZNW	Surrozen Warrant	Pair Corr
0.39	DMAC	DiaMedica Therapeutics Upward Rally	Pair Corr
0.39	VNDA	Vanda Pharmaceuticals	Pair Corr
0.31	CDIOW	Cardio Diagnostics	Pair Corr
0.66	VTRS	Viatris	Pair Corr
0.64	VSTM	Verastem Downward Rally	Pair Corr
0.63	ENSC	Ensysce Biosciences Trending	Pair Corr
0.58	ELDN	Eledon Pharmaceuticals	Pair Corr
0.56	ELUT	Elutia Inc Upward Rally	Pair Corr
0.53	VRNA	Verona Pharma PLC	Pair Corr
0.5	VTVT	vTv Therapeutics	Pair Corr
0.48	KTTAW	Pasithea Therapeutics	Pair Corr
0.47	VYNE	Vyne Therapeutics	Pair Corr
0.41	ELTX	Elicio Therapeutics	Pair Corr

Related Correlations Analysis

	ORIC	LYRA	INBX	EPIX	SNSE	NXTC	NUVB	GLUE	DSGN	ERAS
ORIC		0.57	0.59	0.26	0.26	0.48	0.23	0.04	-0.01	0.47	ORIC
LYRA	0.57		0.82	0.56	0.41	0.67	-0.33	-0.18	-0.26	0.21	LYRA
INBX	0.59	0.82		0.48	0.29	0.58	-0.15	-0.09	-0.07	0.36	INBX
EPIX	0.26	0.56	0.48		0.22	0.64	-0.63	-0.8	-0.64	-0.39	EPIX
SNSE	0.26	0.41	0.29	0.22		0.33	-0.05	0.03	-0.07	0.13	SNSE
NXTC	0.48	0.67	0.58	0.64	0.33		-0.39	-0.37	-0.37	0.06	NXTC
NUVB	0.23	-0.33	-0.15	-0.63	-0.05	-0.39		0.62	0.78	0.54	NUVB
GLUE	0.04	-0.18	-0.09	-0.8	0.03	-0.37	0.62		0.61	0.62	GLUE
DSGN	-0.01	-0.26	-0.07	-0.64	-0.07	-0.37	0.78	0.61		0.54	DSGN
ERAS	0.47	0.21	0.36	-0.39	0.13	0.06	0.54	0.62	0.54		ERAS
	ORIC	LYRA	INBX	EPIX	SNSE	NXTC	NUVB	GLUE	DSGN	ERAS

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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

INBX	+ 0.82	LYRA
DSGN	+ 0.78	NUVB
NXTC	+ 0.67	LYRA
NXTC	+ 0.64	EPIX
GLUE	+ 0.62	NUVB
ERAS	+ 0.62	GLUE

High negative correlations

GLUE	- 0.8	EPIX
DSGN	- 0.64	EPIX
NUVB	- 0.63	EPIX
NUVB	- 0.39	NXTC
ERAS	- 0.39	EPIX
DSGN	- 0.37	NXTC

Risk-Adjusted Indicators

There is a big difference between TNF Stock performing well and TNF 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 TNF Pharmaceuticals,'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
ORIC	2.86	(0.46)	0.00	(0.17)	0.00	0.00	5.15	(5.92)	20.53
LYRA	4.40	(0.48)	0.00	(0.36)	0.00	0.00	10.53	(10.00)	41.07
INBX	1.98	(0.27)	0.00	(0.28)	0.00	0.00	4.72	(4.90)	11.96
EPIX	3.76	(1.16)	0.00	2.07	0.00	0.00	5.37	(5.90)	84.25
SNSE	6.89	0.50	0.06	1.15	7.52	(8.65)	11.11	(13.21)	110.76
NXTC	2.82	(0.53)	0.00	(1.67)	0.00	0.00	5.43	(7.75)	24.13
NUVB	3.55	(0.12)	0.00	(0.01)	0.00	0.00	9.48	(8.36)	21.30
GLUE	5.37	0.61	0.13	0.20	4.59	(7.77)	8.40	(8.46)	103.72
DSGN	4.09	0.19	0.03	0.09	5.91	(4.11)	8.54	(8.80)	33.11
ERAS	3.40	(0.20)	0.00	(0.08)	0.00	0.00	7.42	(6.08)	20.29

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