Dermata Therapeutics, Inc. Common Stock (DRMA) — Stock Correlations & Overview
Over the past year, DRMA has moved most closely with KNRX, PTRN, TOGA. Explore the stocks most correlated and inversely correlated with DRMA below, along with its price, financials, and company profile.
Stocks correlated with DRMA
Correlation of daily returns. Higher positive values move with DRMA; negative values move opposite it. Informational only, not investment advice.
Most correlated with DRMA
| Symbol | Company | Correlation |
|---|---|---|
| KNRX | KNOREX LTD. | 0.32 |
| PTRN | Pattern Group Inc. Series A Common StockRETAIL-CATALOG & MAIL-ORDER HOUSES | 0.30 |
| TOGA | Tremblant Global ETF | 0.28 |
| COLD | Americold Realty Trust, Inc.REAL ESTATE INVESTMENT TRUSTS | 0.28 |
| RELY | Remitly Global, Inc. Common StockSERVICES-BUSINESS SERVICES, NEC | 0.28 |
Most inversely correlated with DRMA
| Symbol | Company | Correlation |
|---|---|---|
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.21 |
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.21 |
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.20 |
| SEF | ProShares Short Financials | -0.19 |
| SKF | ProShares UltraShort Financials | -0.19 |
Frequently asked questions about DRMA correlations
- Which stocks are most correlated with DRMA?
- Based on one year of daily returns, the stocks most correlated with Dermata Therapeutics, Inc. Common Stock (DRMA) are KNRX (0.32), PTRN (0.30) and TOGA (0.28). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with DRMA?
- Over the past year, the stocks most inversely correlated with Dermata Therapeutics, Inc. Common Stock (DRMA) are SARK (-0.21), WEBS (-0.21) and HDGE (-0.20). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these DRMA correlations calculated?
- We compute the correlation of daily returns between DRMA and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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