Harrow Health Correlations

HROWL Stock

USD 25.28 0.03 0.12%

The current 90-days correlation between Harrow Health 8625 and Babcock Wilcox Enterprises, is -0.02 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Harrow Health moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harrow Health 8625 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Harrow Health Correlation With Market

Weak diversification

The correlation between Harrow Health 8625 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 Harrow Health 8625 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Harrow Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Harrow Health 8625. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

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

Moving together with Harrow Stock

0.62

VTVT

vTv Therapeutics Earnings Call This Week

Pair Corr

Moving against Harrow Stock

0.84	DRRX	Durect	Pair Corr
0.74	DVAX	Dynavax Technologies Earnings Call This Week	Pair Corr
0.72	DRMA	Dermata Therapeutics Earnings Call This Week	Pair Corr
0.63	EQ	Equillium	Pair Corr
0.61	VCEL	Vericel Corp Ord Earnings Call This Week	Pair Corr
0.61	DYAI	Dyadic International	Pair Corr
0.49	DMAC	DiaMedica Therapeutics Earnings Call This Week	Pair Corr
0.46	VINC	Vincerx Pharma, Common	Pair Corr
0.45	VERA	Vera Therapeutics	Pair Corr
0.39	CDIOW	Cardio Diagnostics	Pair Corr
0.37	DRUG	Bright Minds Biosciences	Pair Corr
0.68	ELTX	Elicio Therapeutics	Pair Corr
0.67	VNRX	Volitionrx	Pair Corr
0.58	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.57	VRCA	Verrica Pharmaceuticals	Pair Corr
0.55	VTGN	VistaGen Therapeutics	Pair Corr
0.55	ELAB	Elevai Labs, Common	Pair Corr
0.55	ELAN	Elanco Animal Health Earnings Call This Week	Pair Corr
0.53	VRAX	Virax Biolabs Group	Pair Corr
0.51	VRPX	Virpax Pharmaceuticals	Pair Corr
0.51	VYNE	Vyne Therapeutics Earnings Call This Week	Pair Corr
0.48	VTRS	Viatris Earnings Call This Week	Pair Corr
0.45	KTTAW	Pasithea Therapeutics	Pair Corr
0.42	ELDN	Eledon Pharmaceuticals Earnings Call This Week	Pair Corr
0.41	VXRT	Vaxart Inc	Pair Corr
0.38	VYGR	Voyager Therapeutics	Pair Corr
0.37	VNDA	Vanda Pharmaceuticals Earnings Call This Week	Pair Corr

Related Correlations Analysis

	BWSN	BWNB	RILYT	RILYO	SPNT-PB
BWSN		0.97	0.84	0.0	-0.12	BWSN
BWNB	0.97		0.81	0.0	-0.1	BWNB
RILYT	0.84	0.81		0.0	0.12	RILYT
RILYO	0.0	0.0	0.0		0.0	RILYO
SPNT-PB	-0.12	-0.1	0.12	0.0		SPNT-PB
	BWSN	BWNB	RILYT	RILYO	SPNT-PB

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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

BWNB	+ 0.97	BWSN
RILYT	+ 0.84	BWSN
RILYT	+ 0.81	BWNB
SPNT-PB	+ 0.12	RILYT
RILYO	+ 0.0	BWSN
RILYO	+ 0.0	BWNB

High negative correlations

SPNT-PB	- 0.12	BWSN
SPNT-PB	- 0.1	BWNB
SPNT-PB	- 0.0	RILYO
RILYO	- 0.0	RILYT
RILYO	- 0.0	BWNB
RILYO	- 0.0	BWSN

Risk-Adjusted Indicators

There is a big difference between Harrow Stock performing well and Harrow Health 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 Harrow Health'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
BWSN	1.37	(0.38)	0.00	1.43	0.00	0.00	3.16	(3.99)	13.44
BWNB	1.66	(0.61)	0.00	1.53	0.00	0.00	2.97	(4.57)	14.01
RILYT	3.26	(0.54)	0.00	336.94	0.00	0.00	8.49	(9.26)	22.87
RILYO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SPNT-PB	0.19	0.01	0.39	(0.33)	0.25	(0.21)	0.44	(0.40)	1.51

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