SIGA Technologies Correlations

SIGA Stock

USD 7.58 0.10 1.34%

The correlation of SIGA Technologies 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 SIGA Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SIGA Technologies 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.

Modest diversification

The correlation between SIGA Technologies and NYA is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SIGA Technologies and NYA in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SIGA Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in price.

For information on how to trade SIGA Stock refer to our How to Trade SIGA Stock guide.

The ability to find closely correlated positions to SIGA Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SIGA Technologies 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 SIGA Technologies - 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 SIGA Technologies to buy it.

Moving together with SIGA Stock

0.69

FLGC

Flora Growth Corp

Pair Corr

Moving against SIGA Stock

0.75	ETON	Eton Pharmaceuticals	Pair Corr
0.75	EYEN	Eyenovia	Pair Corr
0.67	ENVB	Enveric Biosciences	Pair Corr
0.66	AQB	AquaBounty Technologies Earnings Call This Week	Pair Corr
0.63	JNJ	Johnson Johnson Financial Report 18th of July 2024	Pair Corr
0.49	EFTR	Effector Therapeutics	Pair Corr
0.47	KOD	Kodiak Sciences Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	CNTB	ABOS	NUVB	ELDN	ELYM	INBX	CELC	ELVN	REPL	NVCT
CNTB		-0.32	0.68	0.29	0.25	-0.16	0.35	0.56	-0.49	-0.5	CNTB
ABOS	-0.32		-0.36	-0.5	-0.57	0.53	0.45	-0.48	0.87	0.82	ABOS
NUVB	0.68	-0.36		0.53	0.48	-0.09	0.17	0.62	-0.53	-0.63	NUVB
ELDN	0.29	-0.5	0.53		0.8	-0.35	-0.52	0.72	-0.73	-0.66	ELDN
ELYM	0.25	-0.57	0.48	0.8		-0.34	-0.48	0.81	-0.7	-0.67	ELYM
INBX	-0.16	0.53	-0.09	-0.35	-0.34		0.45	-0.29	0.56	0.31	INBX
CELC	0.35	0.45	0.17	-0.52	-0.48	0.45		-0.21	0.49	0.35	CELC
ELVN	0.56	-0.48	0.62	0.72	0.81	-0.29	-0.21		-0.71	-0.73	ELVN
REPL	-0.49	0.87	-0.53	-0.73	-0.7	0.56	0.49	-0.71		0.9	REPL
NVCT	-0.5	0.82	-0.63	-0.66	-0.67	0.31	0.35	-0.73	0.9		NVCT
	CNTB	ABOS	NUVB	ELDN	ELYM	INBX	CELC	ELVN	REPL	NVCT

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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

NVCT	+ 0.9	REPL
REPL	+ 0.87	ABOS
NVCT	+ 0.82	ABOS
ELVN	+ 0.81	ELYM
ELYM	+ 0.8	ELDN
ELVN	+ 0.72	ELDN

High negative correlations

NVCT	- 0.73	ELVN
REPL	- 0.73	ELDN
REPL	- 0.71	ELVN
REPL	- 0.7	ELYM
NVCT	- 0.67	ELYM
NVCT	- 0.66	ELDN

Risk-Adjusted Indicators

There is a big difference between SIGA Stock performing well and SIGA Technologies 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 SIGA Technologies' 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
CNTB	6.32	1.00	0.15	(2.14)	6.09	(8.45)	18.89	(10.42)	42.32
ABOS	3.06	(0.69)	0.00	(0.19)	0.00	0.00	7.08	(6.15)	19.42
NUVB	5.01	0.73	0.16	0.20	4.43	(6.73)	16.67	(8.31)	46.16
ELDN	4.76	0.75	0.15	0.44	4.71	(5.39)	11.24	(8.51)	35.55
ELYM	6.67	2.28	0.43	(0.37)	3.90	(8.91)	20.98	(7.89)	86.31
INBX	1.94	(0.67)	0.00	(0.19)	0.00	0.00	0.92	(1.15)	60.40
CELC	2.53	0.06	0.02	0.28	2.75	(3.06)	6.08	(5.10)	25.95
ELVN	4.82	0.62	0.13	0.53	4.36	(5.92)	9.52	(7.44)	50.27
REPL	2.73	(0.70)	0.00	2.15	0.00	0.00	4.65	(7.46)	15.06
NVCT	4.03	(0.40)	0.00	7.55	0.00	0.00	9.38	(7.20)	36.30

SIGA Technologies Corporate Management

Jay MD	Chief VP	Profile
Dennis Hruby	Chief Scientific Officer and VP	Profile
Tove Bolken	Senior Officer	Profile
Herb Vloedman	Senior Officer	Profile
III MD	CEO Director	Profile
JD Esq	General Counsel	Profile

Complementary Tools for SIGA Stock analysis

When running SIGA Technologies' price analysis, check to measure SIGA Technologies' 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 SIGA Technologies is operating at the current time. Most of SIGA Technologies' value examination focuses on studying past and present price action to predict the probability of SIGA Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move SIGA Technologies' price. Additionally, you may evaluate how the addition of SIGA Technologies to your portfolios can decrease your overall portfolio volatility.

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