Dermata Therapeutics Correlations

DRMA Stock

USD 0.78 0.01 1.27%

The current 90-days correlation between Dermata Therapeutics and Phio Pharmaceuticals Corp is -0.1 (i.e., Good diversification). The correlation of Dermata Therapeutics 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.

Dermata Therapeutics Correlation With Market

Significant diversification

The correlation between Dermata Therapeutics and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dermata Therapeutics and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dermata Therapeutics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

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

Moving together with Dermata Stock

0.68	JNJ	Johnson Johnson	Pair Corr
0.81	MRK	Merck Company	Pair Corr
0.61	PBH	Prestige Brand Holdings	Pair Corr
0.89	PFE	Pfizer Inc	Pair Corr
0.68	PAHC	Phibro Animal Health	Pair Corr
0.79	AMPH	Amphastar P	Pair Corr
0.79	COLL	Collegium Pharmaceutical Earnings Call This Week	Pair Corr
0.7	ONC	Oncolytics Biotech	Pair Corr
0.61	GSD	Devonian Health Group	Pair Corr
0.77	MMM	3M Company	Pair Corr
0.62	XOM	Exxon Mobil Corp	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.89	AA	Alcoa Corp	Pair Corr
0.67	INTC	Intel Aggressive Push	Pair Corr
0.64	DIS	Walt Disney Aggressive Push	Pair Corr

Moving against Dermata Stock

0.77	CWT	California Water Service	Pair Corr
0.69	WHLRD	Wheeler Real Estate	Pair Corr
0.62	ANIP	ANI Pharmaceuticals	Pair Corr
0.38	RGC	Regencell Bioscience Trending	Pair Corr
0.63	PMHG	Prime Meridian Holding	Pair Corr
0.51	KO	Coca Cola	Pair Corr
0.45	MCD	McDonalds	Pair Corr
0.35	T	ATT Inc	Pair Corr

Related Correlations Analysis

	ZURA	PHIO	SONN	ATNF	CDIO	WINT	ENSC	PBLA	BXRX	ZVSA
ZURA		0.31	0.59	0.56	0.6	0.51	0.46	0.0	0.0	0.3	ZURA
PHIO	0.31		0.02	-0.07	0.13	0.02	-0.17	0.0	0.0	-0.08	PHIO
SONN	0.59	0.02		0.76	0.74	0.78	0.9	0.0	0.0	0.74	SONN
ATNF	0.56	-0.07	0.76		0.51	0.71	0.8	0.0	0.0	0.58	ATNF
CDIO	0.6	0.13	0.74	0.51		0.71	0.73	0.0	0.0	0.67	CDIO
WINT	0.51	0.02	0.78	0.71	0.71		0.8	0.0	0.0	0.82	WINT
ENSC	0.46	-0.17	0.9	0.8	0.73	0.8		0.0	0.0	0.82	ENSC
PBLA	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	PBLA
BXRX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	BXRX
ZVSA	0.3	-0.08	0.74	0.58	0.67	0.82	0.82	0.0	0.0		ZVSA
	ZURA	PHIO	SONN	ATNF	CDIO	WINT	ENSC	PBLA	BXRX	ZVSA

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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

ENSC	+ 0.9	SONN
ZVSA	+ 0.82	WINT
ZVSA	+ 0.82	ENSC
ENSC	+ 0.8	ATNF
ENSC	+ 0.8	WINT
WINT	+ 0.78	SONN

High negative correlations

ENSC	- 0.17	PHIO
ZVSA	- 0.08	PHIO
ATNF	- 0.07	PHIO
ZVSA	- 0.0	BXRX
ZVSA	- 0.0	PBLA
BXRX	- 0.0	PBLA

Risk-Adjusted Indicators

There is a big difference between Dermata Stock performing well and Dermata Therapeutics 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 Dermata Therapeutics' 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
ZURA	5.14	(0.34)	0.00	1.70	0.00	0.00	11.38	(10.07)	33.80
PHIO	5.46	0.12	0.04	(0.19)	5.79	(7.13)	11.11	(8.55)	71.20
SONN	2.59	(0.24)	0.00	(0.59)	0.00	0.00	4.17	(5.15)	16.12
ATNF	4.29	0.02	0.00	(0.04)	0.00	0.00	9.26	(9.77)	59.44
CDIO	6.65	(1.07)	0.00	(0.84)	0.00	0.00	13.35	(13.08)	74.09
WINT	7.39	(2.28)	0.00	(3.45)	0.00	0.00	15.83	(19.23)	61.10
ENSC	6.34	(0.88)	0.00	(0.74)	0.00	0.00	9.57	(13.47)	109.72
PBLA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BXRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZVSA	6.88	0.01	0.00	(0.07)	0.00	0.00	10.11	(13.68)	144.21

Dermata Therapeutics Corporate Management

Maria MBA	Senior Assurance	Profile
Gerald Proehl	President, Founder	Profile
Sean Proehl	Senior Development	Profile
David Hale	CoFounder Director	Profile
Dr MPH	Senior Officer	Profile

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