Yes there are correlations. AVXL and XBI are much more synced. Also the timing of news releases or quiet becomes an obvious factor in AVXL moving quickly directionally when supported or stepped on by XBI. Both XBI and AVXL show independent movement from the Q's for periods of time. The mean for AVXL is much more closely tied to XBI though the Q's do have gravitational influence for sure.
I think what these correlations on a 6month daily confirm is that if/when AVXL gets approvals it is perfectly capable of moving on its own and a short squeeze is very possible if not likely... Those are some random thoughts while waiting for the days close.
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