Alector Correlations

ALEC Stock

USD 1.99 0.02 1.00%

The current 90-days correlation between Alector and Nkarta Inc is 0.36 (i.e., Weak diversification). The correlation of Alector 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.

Alector Correlation With Market

Very poor diversification

The correlation between Alector and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alector and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alector Stock

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

For information on how to trade Alector Stock refer to our How to Trade Alector Stock guide.

Moving together with Alector Stock

0.89	GXEA	Galapagos NV Earnings Call This Week	Pair Corr
0.8	8VP1	AVRICORE HEALTH INC	Pair Corr
0.67	EQ	Equillium	Pair Corr
0.77	VALN	Valneva SE ADR	Pair Corr
0.63	DNTH	Dianthus Therapeutics	Pair Corr
0.85	6C1	CytomX Therapeutics	Pair Corr
0.97	DRTS	Alpha Tau Medical	Pair Corr
0.66	DSGN	Design Therapeutics	Pair Corr
0.93	0P6S	Bayer AG NA	Pair Corr
0.92	DVAX	Dynavax Technologies	Pair Corr

Moving against Alector Stock

0.73	OSE	OSE Pharma SA	Pair Corr
0.67	DRMA	Dermata Therapeutics	Pair Corr
0.64	VCYT	Veracyte Earnings Call This Week	Pair Corr
0.63	RAC	Race Oncology Earnings Call This Week	Pair Corr
0.33	ABNX	Abionyx Pharma SA	Pair Corr
0.92	DWTX	Dogwood Therapeutics	Pair Corr
0.9	VSTM	Verastem Sell-off Trend	Pair Corr
0.89	XE9	Xencor Inc Earnings Call This Week	Pair Corr
0.88	DTIL	Precision BioSciences	Pair Corr
0.86	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.83	VKTX	Viking Therapeutics	Pair Corr
0.83	VRAX	Virax Biolabs Group	Pair Corr
0.81	VTGN	VistaGen Therapeutics	Pair Corr

Related Correlations Analysis

	NKTX	SAVA	FATE	PEPG	MOLN	VOR	CRBP	ABOS	IRD	APLT
NKTX		-0.55	0.73	0.01	0.05	0.58	-0.4	0.54	0.5	-0.46	NKTX
SAVA	-0.55		-0.27	-0.08	-0.25	-0.67	0.79	-0.48	-0.34	0.59	SAVA
FATE	0.73	-0.27		0.13	0.42	0.36	-0.32	0.66	0.77	-0.36	FATE
PEPG	0.01	-0.08	0.13		0.07	-0.01	-0.15	-0.01	0.15	-0.09	PEPG
MOLN	0.05	-0.25	0.42	0.07		0.07	-0.5	0.57	0.67	-0.35	MOLN
VOR	0.58	-0.67	0.36	-0.01	0.07		-0.74	0.39	0.3	-0.66	VOR
CRBP	-0.4	0.79	-0.32	-0.15	-0.5	-0.74		-0.59	-0.47	0.85	CRBP
ABOS	0.54	-0.48	0.66	-0.01	0.57	0.39	-0.59		0.7	-0.55	ABOS
IRD	0.5	-0.34	0.77	0.15	0.67	0.3	-0.47	0.7		-0.43	IRD
APLT	-0.46	0.59	-0.36	-0.09	-0.35	-0.66	0.85	-0.55	-0.43		APLT
	NKTX	SAVA	FATE	PEPG	MOLN	VOR	CRBP	ABOS	IRD	APLT

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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

APLT	+ 0.85	CRBP
CRBP	+ 0.79	SAVA
IRD	+ 0.77	FATE
FATE	+ 0.73	NKTX
IRD	+ 0.7	ABOS
IRD	+ 0.67	MOLN

High negative correlations

CRBP	- 0.74	VOR
VOR	- 0.67	SAVA
APLT	- 0.66	VOR
ABOS	- 0.59	CRBP
APLT	- 0.55	ABOS
SAVA	- 0.55	NKTX

Risk-Adjusted Indicators

There is a big difference between Alector Stock performing well and Alector 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 Alector's 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
NKTX	2.67	0.31	0.09	0.36	3.14	(3.15)	6.74	(5.96)	17.73
SAVA	3.81	(0.40)	0.00	(0.13)	0.00	0.00	9.05	(6.98)	35.02
FATE	3.64	0.59	0.15	0.38	3.83	(4.50)	8.00	(7.56)	22.03
PEPG	5.13	0.70	0.08	(0.49)	6.04	(5.32)	12.87	(10.09)	27.05
MOLN	2.32	0.24	0.08	0.40	2.45	(2.85)	4.77	(3.57)	14.54
VOR	6.39	0.71	0.10	0.89	6.23	(7.31)	16.20	(10.24)	39.24
CRBP	2.67	(0.59)	0.00	(1.04)	0.00	0.00	4.60	(6.85)	15.41
ABOS	4.35	0.72	0.15	1.11	4.06	(5.10)	9.94	(6.81)	38.93
IRD	4.14	0.98	0.20	1.59	3.97	(4.57)	9.77	(7.41)	22.40
APLT	7.02	(2.68)	0.00	(0.66)	0.00	0.00	10.00	(15.73)	83.66

Alector Corporate Management

Virginia MBA	Chief Strategy	Profile
Norah Conway	Program Portfolio	Profile
Gary MD	Chief Officer	Profile
Katie Hogan	Senior Relations	Profile

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