Oncternal Therapeutics Correlations
| ONCT Stock | USD 9.21 0.11 1.21% |
The correlation of Oncternal 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Oncternal Therapeutics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Oncternal Therapeutics 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.
Average diversification
The correlation between Oncternal Therapeutics and NYA is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oncternal Therapeutics and NYA in the same portfolio, assuming nothing else is changed.
Oncternal |
The ability to find closely correlated positions to Oncternal Therapeutics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Oncternal Therapeutics 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 Oncternal Therapeutics - 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 Oncternal Therapeutics to buy it.
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between Oncternal Stock performing well and Oncternal 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 Oncternal 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NLTX | 2.71 | (0.08) | 0.00 | (0.10) | 0.00 | 6.67 | 15.97 | |||
| CTMX | 7.35 | 1.39 | 0.13 | (0.45) | 8.12 | 4.13 | 266.04 | |||
| ASMB | 2.31 | 0.27 | 0.08 | 0.35 | 2.97 | 5.11 | 17.41 | |||
| TIL | 1.86 | (0.18) | 0.00 | (0.18) | 0.00 | 4.15 | 9.17 | |||
| NUVB | 4.92 | 0.81 | 0.20 | 0.24 | 3.99 | 16.67 | 46.16 | |||
| TARA | 3.61 | (0.62) | 0.00 | (0.46) | 0.00 | 8.16 | 32.91 | |||
| VCNX | 3.80 | (0.34) | 0.00 | (0.06) | 0.00 | 6.28 | 26.23 | |||
| MNPR | 4.68 | (0.52) | 0.00 | 0.55 | 0.00 | 10.61 | 29.90 | |||
| MIRO | 6.88 | 2.99 | 1.00 | 16.10 | 1.28 | 5.31 | 217.53 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Oncternal Therapeutics 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?
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Oncternal Therapeutics Corporate Management
Elected by the shareholders, the Oncternal Therapeutics' board of directors comprises two types of representatives: Oncternal Therapeutics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Oncternal. The board's role is to monitor Oncternal Therapeutics' management team and ensure that shareholders' interests are well served. Oncternal Therapeutics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Oncternal Therapeutics' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Pablo Urbaneja | Senior Development | Profile | |
| Anita Wiseth | Senior Resources | Profile | |
| Gunnar Kaufmann | Chief Officer | Profile | |
| Salim MD | Chief Officer | Profile | |
| Chase Leavitt | General Secretary | Profile | |
| Steven Hamburger | VP Assurance | Profile | |
| Richard CPA | Treasurer CFO | Profile |
Already Invested in Oncternal Therapeutics?
The danger of trading Oncternal Therapeutics 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 Oncternal Therapeutics 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 Oncternal Therapeutics. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Oncternal Therapeutics 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.
When determining whether Oncternal Therapeutics is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Oncternal Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Oncternal Therapeutics Stock. Highlighted below are key reports to facilitate an investment decision about Oncternal Therapeutics Stock: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Oncternal Therapeutics. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in main economic indicators. For more information on how to buy Oncternal Stock please use our How to Invest in Oncternal Therapeutics guide.Note that the Oncternal Therapeutics information on this page should be used as a complementary analysis to other Oncternal Therapeutics' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Complementary Tools for Oncternal Stock analysis
When running Oncternal Therapeutics' price analysis, check to measure Oncternal Therapeutics' 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 Oncternal Therapeutics is operating at the current time. Most of Oncternal Therapeutics' value examination focuses on studying past and present price action to predict the probability of Oncternal Therapeutics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Oncternal Therapeutics' price. Additionally, you may evaluate how the addition of Oncternal Therapeutics to your portfolios can decrease your overall portfolio volatility.
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Is Oncternal Therapeutics' 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 Oncternal Therapeutics. If investors know Oncternal 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 Oncternal Therapeutics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (12.33) | Revenue Per Share 0.39 | Quarterly Revenue Growth 1.803 | Return On Assets (0.49) | Return On Equity (0.87) |
The market value of Oncternal Therapeutics is measured differently than its book value, which is the value of Oncternal that is recorded on the company's balance sheet. Investors also form their own opinion of Oncternal Therapeutics' value that differs from its market value or its book value, called intrinsic value, which is Oncternal Therapeutics' 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 Oncternal Therapeutics' market value can be influenced by many factors that don't directly affect Oncternal Therapeutics' 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 Oncternal Therapeutics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Oncternal Therapeutics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Oncternal Therapeutics' 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.