Galmed Pharmaceuticals Ltd. (GLMD) — Stock Correlations & Overview
Over the past year, GLMD has moved most closely with LAB, NEON, NVAX. Explore the stocks most correlated and inversely correlated with GLMD below, along with its price, financials, and company profile.
Stocks correlated with GLMD
Correlation of daily returns. Higher positive values move with GLMD; negative values move opposite it. Informational only, not investment advice.
Most correlated with GLMD
| Symbol | Company | Correlation |
|---|---|---|
| LAB | Standard BioTools Inc. Common StockPHARMACEUTICAL PREPARATIONS | 0.41 |
| NEON | Neonode Inc. Common StockELECTRONIC COMPONENTS, NEC | 0.36 |
| NVAX | Novavax IncBIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) | 0.35 |
| GNOM | Global X Genomics & Biotechnology ETF | 0.34 |
| XPH | State Street SPDR S&P Pharmaceuticals ETF | 0.34 |
Most inversely correlated with GLMD
| Symbol | Company | Correlation |
|---|---|---|
| BIS | ProShares UltraShort NASDAQ Biotechnology | -0.32 |
| LABD | Direxion Daily S&P Biotech Bear 3X ETF | -0.32 |
| SUNE | SUNation Energy, Inc. Common StockCONSTRUCTION - SPECIAL TRADE CONTRACTORS | -0.31 |
| TWM | ProShares UltraShort Russell2000 | -0.29 |
| SRTY | ProShares UltraPro Short Russell2000 | -0.29 |
Frequently asked questions about GLMD correlations
- Which stocks are most correlated with GLMD?
- Based on one year of daily returns, the stocks most correlated with Galmed Pharmaceuticals Ltd. (GLMD) are LAB (0.41), NEON (0.36) and NVAX (0.35). 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 GLMD?
- Over the past year, the stocks most inversely correlated with Galmed Pharmaceuticals Ltd. (GLMD) are BIS (-0.32), LABD (-0.32) and SUNE (-0.31). 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 GLMD correlations calculated?
- We compute the correlation of daily returns between GLMD 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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