Inmune Bio Correlations

INMB
 Stock
  

USD 6.60  0.04  0.60%   

The correlation of Inmune Bio is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Inmune Bio moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Inmune Bio moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Please see Risk vs Return Analysis.
  
The ability to find closely correlated positions to Inmune Bio could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Inmune Bio when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Inmune Bio - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Inmune Bio to buy it.

Moving together with Inmune Bio

+0.61NONOFNOVO NORDISK ASPairCorr
+0.63CMXHFCslPairCorr
+0.72CSLLYCsl Ltd ADRPairCorr
+0.91MRNAModernaPairCorr
+0.9BNTXBiontech Se ADRPairCorr
+0.7OSTKOOVERSTOCK COM INCPairCorr
+0.88PFEPfizer IncPairCorr
+0.78KOCoca-ColaPairCorr

Moving against Inmune Bio

-0.68ADRTAult Disruptive TechPairCorr
-0.66REGNRegeneron PharmaceuticalsPairCorr

Related Correlations

ETSY
ADEVF
MPNGY
CPNG
AMZN
JD
ETSY
0.38-0.40.70.82-0.3
ETSY
ADEVF
0.38-0.620.16-0.09-0.58
ADEVF
MPNGY
-0.4-0.62-0.03-0.130.82
MPNGY
CPNG
0.70.16-0.030.66-0.12
CPNG
AMZN
0.82-0.09-0.130.660.06
AMZN
JD
-0.3-0.580.82-0.120.06
JD
ETSY
ADEVF
MPNGY
CPNG
AMZN
JD
Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
AMZNETSY
JDMPNGY
CPNGETSY
AMZNCPNG
ADEVFETSY
CPNGADEVF
  
High negative correlations   
MPNGYADEVF
JDADEVF
MPNGYETSY
JDETSY
AMZNMPNGY
JDCPNG

Inmune Bio Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Inmune Stock performing well and Inmune Bio company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Inmune Bio's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Inmune Bio without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Pair Correlation Now

   

Pair Correlation

Compare performance and examine fundamental relationship between any two equity instruments
All  Next Launch Module

Invested in Inmune Bio?

The danger of trading Inmune Bio is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Inmune Bio is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Inmune Bio. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Inmune Bio is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please see Risk vs Return Analysis. You can also try Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.

Complementary Tools for analysis

When running Inmune Bio price analysis, check to measure Inmune Bio's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Inmune Bio is operating at the current time. Most of Inmune Bio's value examination focuses on studying past and present price action to predict the probability of Inmune Bio's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Inmune Bio's price. Additionally, you may evaluate how the addition of Inmune Bio to your portfolios can decrease your overall portfolio volatility.
Idea Breakdown
Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes
Go
Equity Valuation
Check real value of public entities based on technical and fundamental data
Go
Bond Directory
Find actively traded corporate debentures issued by US companies
Go
Equity Analysis
Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities
Go
CEO Directory
Screen CEOs from public companies around the world
Go
Global Correlations
Find global opportunities by holding instruments from different markets
Go
Risk-Return Analysis
View associations between returns expected from investment and the risk you assume
Go
Portfolio Optimization
Compute new portfolio that will generate highest expected return given your specified tolerance for risk
Go
Is Inmune Bio's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Inmune Bio. If investors know Inmune will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Inmune Bio listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Inmune Bio is measured differently than its book value, which is the value of Inmune that is recorded on the company's balance sheet. Investors also form their own opinion of Inmune Bio's value that differs from its market value or its book value, called intrinsic value, which is Inmune Bio's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Inmune Bio's market value can be influenced by many factors that don't directly affect Inmune Bio's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Inmune Bio's value and its price as these two are different measures arrived at by different means. Investors typically determine Inmune Bio value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Inmune Bio's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.