Abcellera Biologics Correlations

ABCL Stock

USD 2.44 0.06 2.52%

The current 90-days correlation between Abcellera Biologics and CureVac NV is 0.27 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Abcellera Biologics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Abcellera Biologics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Abcellera Biologics Correlation With Market

Weak diversification

The correlation between Abcellera Biologics and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Abcellera Biologics and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Abcellera Biologics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more information on how to buy Abcellera Stock please use our How to buy in Abcellera Stock guide.

Moving together with Abcellera Stock

0.72	CMND	Clearmind Medicine Common	Pair Corr
0.73	BA	Boeing	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.65	JPM	JPMorgan Chase	Pair Corr
0.65	DIS	Walt Disney	Pair Corr
0.64	MSFT	Microsoft	Pair Corr

Moving against Abcellera Stock

0.49	PG	Procter Gamble	Pair Corr
0.37	LUCD	Lucid Diagnostics	Pair Corr
0.33	WM	Waste Management	Pair Corr
0.57	JNJ	Johnson Johnson	Pair Corr
0.47	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	CWBR	HEPA	RAIN	KRYS	AVRO	CVAC	RETA	VIR	PPCB	PTCT
CWBR		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CWBR
HEPA	0.0		0.24	-0.6	0.0	0.3	0.0	0.01	0.73	-0.79	HEPA
RAIN	0.0	0.24		-0.57	0.0	0.82	0.0	0.6	0.43	-0.47	RAIN
KRYS	0.0	-0.6	-0.57		0.0	-0.67	0.0	-0.51	-0.62	0.84	KRYS
AVRO	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AVRO
CVAC	0.0	0.3	0.82	-0.67	0.0		0.0	0.74	0.45	-0.58	CVAC
RETA	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	RETA
VIR	0.0	0.01	0.6	-0.51	0.0	0.74	0.0		0.24	-0.45	VIR
PPCB	0.0	0.73	0.43	-0.62	0.0	0.45	0.0	0.24		-0.74	PPCB
PTCT	0.0	-0.79	-0.47	0.84	0.0	-0.58	0.0	-0.45	-0.74		PTCT
	CWBR	HEPA	RAIN	KRYS	AVRO	CVAC	RETA	VIR	PPCB	PTCT

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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

PTCT	+ 0.84	KRYS
CVAC	+ 0.82	RAIN
VIR	+ 0.74	CVAC
PPCB	+ 0.73	HEPA
VIR	+ 0.6	RAIN
PPCB	+ 0.45	CVAC

High negative correlations

PTCT	- 0.79	HEPA
PTCT	- 0.74	PPCB
CVAC	- 0.67	KRYS
PPCB	- 0.62	KRYS
KRYS	- 0.6	HEPA
PTCT	- 0.58	CVAC

Risk-Adjusted Indicators

There is a big difference between Abcellera Stock performing well and Abcellera Biologics 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 Abcellera Biologics' 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
CWBR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HEPA	9.87	(3.91)	0.00	(5.38)	0.00	0.00	16.37	(31.39)	90.05
RAIN	17.34	5.76	0.55	(2.93)	8.54	(26.66)	16.88	(20.94)	512.67
KRYS	1.99	0.26	0.12	0.50	2.38	(2.17)	3.40	(3.84)	16.57
AVRO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CVAC	3.35	0.02	0.00	(0.04)	0.00	0.00	8.22	(6.41)	32.27
RETA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VIR	3.49	0.24	0.04	0.08	4.27	(3.86)	5.16	(5.60)	71.23
PPCB	19.89	4.25	0.13	(1.12)	18.91	(45.55)	50.00	(33.33)	275.76
PTCT	1.88	0.41	0.19	0.34	1.94	(2.11)	4.83	(3.32)	13.60

Abcellera Biologics Corporate Management

Andy Clark	Head Assurance	Profile
Veronique Lecault	COO Director	Profile
Bo Barnhart	Scientific Director	Profile
Andrew MBA	Chief Officer	Profile
EdD CEC	Senior Development	Profile
Paul Colussi	Site Technologies	Profile
JD Esq	Chief Officer	Profile

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