Tenax Therapeutics Correlations

TENX Stock

USD 10.38 0.73 7.56%

The current 90-days correlation between Tenax Therapeutics and Verrica Pharmaceuticals is -0.01 (i.e., Good diversification). The correlation of Tenax 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Tenax Therapeutics Correlation With Market

Average diversification

The correlation between Tenax Therapeutics and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tenax Therapeutics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tenax Stock

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

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

Moving together with Tenax Stock

0.69	688670	Jiangsu GDK Biotechnology	Pair Corr
0.7	AMGN	Amgen Inc	Pair Corr
0.67	PTAIY	Astra International Tbk	Pair Corr
0.61	KO	Coca Cola	Pair Corr
0.62	VWDRY	Vestas Wind Systems	Pair Corr
0.77	WILC	G Willi Food	Pair Corr
0.64	RWEOY	RWE AG PK	Pair Corr

Moving against Tenax Stock

0.87	300871	Wuhan Hvsen Biotechnology	Pair Corr
0.87	301301	Yili Chuanning Biote	Pair Corr
0.7	300942	Shenzhen Bioeasy Bio	Pair Corr
0.67	688739	Liaoning Chengda Bio	Pair Corr
0.62	688217	Shanghai Rightongene	Pair Corr
0.58	688639	Anhui Huaheng Biotec	Pair Corr
0.54	ALVO	Alvotech	Pair Corr
0.52	300439	Ningbo MedicalSystem	Pair Corr
0.47	PTAIF	PT Astra International	Pair Corr
0.34	PIFMY	Indofood Sukses Makmur	Pair Corr
0.31	LJUIF	SSY Group Limited	Pair Corr

Related Correlations Analysis

	VRCA	SABS	QTTB	ANTX	JSPR	NXTC	PSTV	BOLD	PLUR	NERV
VRCA		0.32	0.2	-0.41	-0.26	0.32	0.13	-0.49	-0.21	-0.04	VRCA
SABS	0.32		0.22	-0.8	-0.84	0.86	-0.1	-0.09	-0.84	0.74	SABS
QTTB	0.2	0.22		-0.22	-0.12	0.41	0.48	0.43	-0.41	0.26	QTTB
ANTX	-0.41	-0.8	-0.22		0.8	-0.71	0.08	0.25	0.73	-0.54	ANTX
JSPR	-0.26	-0.84	-0.12	0.8		-0.69	0.08	0.28	0.78	-0.55	JSPR
NXTC	0.32	0.86	0.41	-0.71	-0.69		0.06	0.17	-0.83	0.73	NXTC
PSTV	0.13	-0.1	0.48	0.08	0.08	0.06		0.3	-0.12	-0.02	PSTV
BOLD	-0.49	-0.09	0.43	0.25	0.28	0.17	0.3		-0.13	0.45	BOLD
PLUR	-0.21	-0.84	-0.41	0.73	0.78	-0.83	-0.12	-0.13		-0.72	PLUR
NERV	-0.04	0.74	0.26	-0.54	-0.55	0.73	-0.02	0.45	-0.72		NERV
	VRCA	SABS	QTTB	ANTX	JSPR	NXTC	PSTV	BOLD	PLUR	NERV

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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

NXTC	+ 0.86	SABS
JSPR	+ 0.8	ANTX
PLUR	+ 0.78	JSPR
NERV	+ 0.74	SABS
PLUR	+ 0.73	ANTX
NERV	+ 0.73	NXTC

High negative correlations

PLUR	- 0.84	SABS
JSPR	- 0.84	SABS
PLUR	- 0.83	NXTC
ANTX	- 0.8	SABS
NERV	- 0.72	PLUR
NXTC	- 0.71	ANTX

Risk-Adjusted Indicators

There is a big difference between Tenax Stock performing well and Tenax 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 Tenax 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
VRCA	5.41	0.86	0.18	0.30	5.18	(6.62)	12.57	(10.27)	52.65
SABS	4.01	0.88	0.19	0.54	3.85	(5.23)	11.71	(8.40)	31.47
QTTB	5.93	1.60	0.21	(1.22)	5.64	(6.70)	10.64	(10.73)	85.16
ANTX	2.20	(0.27)	0.00	(0.12)	0.00	0.00	3.25	(4.44)	21.89
JSPR	3.73	(0.71)	0.00	(0.32)	0.00	0.00	6.55	(8.06)	24.97
NXTC	5.58	1.73	0.24	2.20	5.84	(6.58)	15.65	(8.76)	60.54
PSTV	5.86	0.78	0.14	0.54	5.33	(8.06)	10.71	(8.54)	58.07
BOLD	2.08	(0.03)	(0.01)	0.04	2.45	(2.80)	5.41	(4.84)	13.66
PLUR	3.38	(0.67)	0.00	(0.20)	0.00	0.00	8.44	(6.23)	29.15
NERV	6.74	1.54	0.27	0.52	5.17	(8.63)	10.58	(9.22)	157.05

Tenax Therapeutics Corporate Management

Doug Randall	Executive VP of Commercial and Bus. Operations	Profile
Eliot CPA	Interim Officer	Profile
Nancy Hecox	Gen Affairs	Profile
Esq CPA	Interim Officer	Profile

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