ProMIS Neurosciences Correlations

PMN Stock

USD 0.39 0.02 4.88%

The current 90-days correlation between ProMIS Neurosciences and Eterna Therapeutics is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProMIS Neurosciences moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProMIS Neurosciences moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProMIS Neurosciences Correlation With Market

Modest diversification

The correlation between ProMIS Neurosciences and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProMIS Neurosciences and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProMIS Stock

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

To learn how to invest in ProMIS Stock, please use our How to Invest in ProMIS Neurosciences guide.

Moving together with ProMIS Stock

0.63	ABP	ABPRO P	Pair Corr
0.73	OPTI	OptiBiotix Health Plc	Pair Corr
0.75	INAB	In8bio Inc	Pair Corr
0.63	KPRX	Kiora Pharmaceuticals	Pair Corr

Moving against ProMIS Stock

0.56	ZYME	Zymeworks Common Stock	Pair Corr
0.55	ZBIO	Zenas BioPharma, Common	Pair Corr
0.42	DYAI	Dyadic International	Pair Corr
0.42	UPB	Upstream Bio,	Pair Corr
0.41	603122	Cowealth Medical China	Pair Corr
0.37	IMNM	Immunome Earnings Call Tomorrow	Pair Corr
0.64	MURA	Mural Oncology plc	Pair Corr
0.58	CIZ	Cizzle Biotechnology	Pair Corr
0.43	ANAB	AnaptysBio	Pair Corr
0.39	REGN	Regeneron Pharmaceuticals	Pair Corr
0.34	600201	Jinyu Bio Technology	Pair Corr

Related Correlations Analysis

	ERNA	OSRH	LPCN	ADAP	EDSA	ANL	GOVX	THAR	BRTX
ERNA		-0.04	-0.3	-0.45	-0.77	-0.62	-0.1	0.08	-0.25	ERNA
OSRH	-0.04		-0.07	-0.13	0.06	-0.05	0.27	0.58	0.21	OSRH
LPCN	-0.3	-0.07		0.31	0.61	0.49	0.26	0.02	0.32	LPCN
ADAP	-0.45	-0.13	0.31		0.53	0.01	-0.32	-0.23	0.29	ADAP
EDSA	-0.77	0.06	0.61	0.53		0.66	0.31	-0.04	0.47	EDSA
ANL	-0.62	-0.05	0.49	0.01	0.66		0.49	-0.06	0.15	ANL
GOVX	-0.1	0.27	0.26	-0.32	0.31	0.49		0.31	0.41	GOVX
THAR	0.08	0.58	0.02	-0.23	-0.04	-0.06	0.31		0.28	THAR
BRTX	-0.25	0.21	0.32	0.29	0.47	0.15	0.41	0.28		BRTX
	ERNA	OSRH	LPCN	ADAP	EDSA	ANL	GOVX	THAR	BRTX

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

ANL	+ 0.66	EDSA
EDSA	+ 0.61	LPCN
THAR	+ 0.58	OSRH
EDSA	+ 0.53	ADAP
ANL	+ 0.49	LPCN
GOVX	+ 0.49	ANL

High negative correlations

EDSA	- 0.77	ERNA
ANL	- 0.62	ERNA
ADAP	- 0.45	ERNA
GOVX	- 0.32	ADAP
LPCN	- 0.3	ERNA
BRTX	- 0.25	ERNA

Risk-Adjusted Indicators

There is a big difference between ProMIS Stock performing well and ProMIS Neurosciences 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 ProMIS Neurosciences' 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
ERNA	4.44	0.08	0.01	0.24	4.93	(5.00)	7.02	(8.53)	51.97
OSRH	7.83	0.68	0.08	1.37	7.53	(9.64)	15.25	(12.16)	110.90
LPCN	2.23	(0.13)	0.00	(0.04)	0.00	0.00	4.21	(3.79)	17.20
ADAP	12.64	0.27	0.03	0.12	15.04	(16.63)	22.82	(18.18)	168.52
EDSA	2.94	(0.37)	0.00	(0.28)	0.00	0.00	7.00	(6.45)	30.37
ANL	2.40	(0.19)	0.00	(0.14)	0.00	0.00	5.92	(6.21)	14.99
GOVX	3.29	(0.83)	0.00	(0.23)	0.00	0.00	7.04	(6.67)	32.44
THAR	12.42	3.52	0.37	(1.48)	7.81	(19.28)	35.34	(18.82)	227.59
BRTX	2.28	(0.23)	0.00	(0.10)	0.00	0.00	4.90	(5.45)	26.73

ProMIS Neurosciences Corporate Management

Gail Farfel	Chief Officer	Profile
Daniel MBA	Chief Officer	Profile
Johanne Kaplan	Chief Officer	Profile
Dennis Chen	Head Consultant	Profile
David Wishart	Chief Officer	Profile

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