ADC Therapeutics Correlations

ADCT Stock

USD 1.83 0.08 4.57%

The current 90-days correlation between ADC Therapeutics and Black Diamond Therapeutics is 0.13 (i.e., Average diversification). The correlation of ADC Therapeutics 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

ADC Therapeutics Correlation With Market

Good diversification

The correlation between ADC Therapeutics SA and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ADC Therapeutics SA 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 ADC Therapeutics SA. 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.

Moving together with ADC Stock

0.77	DM	Desktop Metal	Pair Corr
0.68	FN	Fabrinet	Pair Corr
0.81	VISL	Vislink Technologies	Pair Corr
0.72	CDW	CDW Corp	Pair Corr
0.68	LPL	LG Display Earnings Call This Week	Pair Corr

Moving against ADC Stock

0.8	UI	Ubiquiti Networks Tech Boost	Pair Corr
0.7	EMKR	EMCORE	Pair Corr
0.66	KN	Knowles Cor	Pair Corr
0.66	AMPGW	AmpliTech Group	Pair Corr
0.57	ELTK	Eltek	Pair Corr
0.49	SATLW	Satellogic Warrant	Pair Corr
0.47	VIAV	Viavi Solutions	Pair Corr
0.79	CLS	Celestica	Pair Corr
0.72	FEIM	Frequency Electronics	Pair Corr
0.72	FFIV	F5 Networks	Pair Corr
0.7	FLEX	Flex	Pair Corr
0.63	DLB	Dolby Laboratories	Pair Corr
0.58	EXTR	Extreme Networks	Pair Corr
0.52	FKWL	Franklin Wireless Corp	Pair Corr
0.51	HPE	Hewlett Packard Ente Aggressive Push	Pair Corr
0.34	APH	Amphenol Earnings Call This Week	Pair Corr
0.86	SNT	Senstar Technologies	Pair Corr
0.7	JBL	Jabil Circuit	Pair Corr
0.69	MOB	Mobilicom Limited	Pair Corr
0.68	PAY	Paymentus Holdings	Pair Corr
0.6	PAR	PAR Technology	Pair Corr
0.52	OSS	One Stop Systems Trending	Pair Corr

Related Correlations Analysis

	PASG	BDTX	TCRR	HARP	ALEC	IPSC	FIXX	GBIO	STOK	RARE
PASG		-0.25	0.43	0.25	-0.41	0.16	0.18	-0.28	0.02	-0.16	PASG
BDTX	-0.25		-0.72	-0.44	0.9	0.71	0.25	0.94	0.72	0.88	BDTX
TCRR	0.43	-0.72		0.24	-0.78	-0.48	-0.53	-0.71	-0.33	-0.62	TCRR
HARP	0.25	-0.44	0.24		-0.37	-0.41	0.22	-0.48	-0.31	-0.66	HARP
ALEC	-0.41	0.9	-0.78	-0.37		0.57	0.26	0.94	0.65	0.79	ALEC
IPSC	0.16	0.71	-0.48	-0.41	0.57		0.41	0.67	0.71	0.79	IPSC
FIXX	0.18	0.25	-0.53	0.22	0.26	0.41		0.19	0.24	0.18	FIXX
GBIO	-0.28	0.94	-0.71	-0.48	0.94	0.67	0.19		0.68	0.91	GBIO
STOK	0.02	0.72	-0.33	-0.31	0.65	0.71	0.24	0.68		0.69	STOK
RARE	-0.16	0.88	-0.62	-0.66	0.79	0.79	0.18	0.91	0.69		RARE
	PASG	BDTX	TCRR	HARP	ALEC	IPSC	FIXX	GBIO	STOK	RARE

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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

GBIO	+ 0.94	BDTX
GBIO	+ 0.94	ALEC
RARE	+ 0.91	GBIO
ALEC	+ 0.9	BDTX
RARE	+ 0.88	BDTX
RARE	+ 0.79	ALEC

High negative correlations

ALEC	- 0.78	TCRR
TCRR	- 0.72	BDTX
GBIO	- 0.71	TCRR
RARE	- 0.66	HARP
RARE	- 0.62	TCRR
FIXX	- 0.53	TCRR

Risk-Adjusted Indicators

There is a big difference between ADC Stock performing well and ADC Therapeutics 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 ADC Therapeutics' 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
PASG	7.03	0.59	0.08	0.44	6.99	(9.22)	20.97	(11.88)	84.39
BDTX	3.31	(0.63)	0.00	(0.54)	0.00	0.00	5.02	(6.41)	25.91
TCRR	3.16	0.39	0.09	(0.62)	3.26	(4.40)	5.77	(6.25)	43.60
HARP	3.55	0.54	0.13	0.68	3.28	(5.07)	9.59	(6.25)	22.48
ALEC	4.32	(1.38)	0.00	(1.03)	0.00	0.00	6.94	(8.42)	42.73
IPSC	3.92	(0.63)	0.00	(0.67)	0.00	0.00	6.73	(7.48)	31.00
FIXX	2.82	0.13	0.03	0.27	3.52	(3.25)	5.77	(5.61)	19.43
GBIO	3.69	(1.33)	0.00	(2.60)	0.00	0.00	6.74	(8.33)	22.69
STOK	2.63	(0.40)	0.00	(1.05)	0.00	0.00	4.60	(5.30)	27.59
RARE	1.69	(0.51)	0.00	(0.80)	0.00	0.00	2.81	(4.47)	11.58

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