Alector Correlations

ALEC Stock

USD 1.53 0.03 1.92%

The current 90-days correlation between Alector and Nkarta Inc is 0.44 (i.e., Very 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

Modest diversification

The correlation between Alector and DJI is 0.29 (i.e., Modest 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 american community survey.

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

Moving together with Alector Stock

0.7

Home Depot

Pair Corr

Moving against Alector Stock

0.81	MMM	3M Company	Pair Corr
0.8	KO	Coca Cola	Pair Corr
0.8	IBM	International Business	Pair Corr
0.77	AXP	American Express	Pair Corr
0.77	CSCO	Cisco Systems	Pair Corr
0.76	CAT	Caterpillar	Pair Corr
0.72	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.68	AMGN	Amgen Inc	Pair Corr
0.66	GILD	Gilead Sciences	Pair Corr
0.66	BAC	Bank of America	Pair Corr
0.59	FTV	Fortive Corp	Pair Corr
0.52	MRK	Merck Company	Pair Corr
0.47	TRV	The Travelers Companies	Pair Corr
0.45	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	NKTX	SAVA	FATE	PEPG	MOLN	VOR	CRBP	ABOS	IRD	APLT
NKTX		0.84	0.91	-0.52	-0.73	0.81	0.88	0.44	-0.19	0.9	NKTX
SAVA	0.84		0.85	-0.53	-0.64	0.68	0.87	0.25	-0.02	0.79	SAVA
FATE	0.91	0.85		-0.51	-0.77	0.87	0.88	0.45	-0.1	0.86	FATE
PEPG	-0.52	-0.53	-0.51		0.4	-0.55	-0.54	-0.11	0.25	-0.7	PEPG
MOLN	-0.73	-0.64	-0.77	0.4		-0.61	-0.78	-0.16	0.32	-0.75	MOLN
VOR	0.81	0.68	0.87	-0.55	-0.61		0.73	0.55	-0.06	0.82	VOR
CRBP	0.88	0.87	0.88	-0.54	-0.78	0.73		0.2	-0.28	0.88	CRBP
ABOS	0.44	0.25	0.45	-0.11	-0.16	0.55	0.2		0.3	0.32	ABOS
IRD	-0.19	-0.02	-0.1	0.25	0.32	-0.06	-0.28	0.3		-0.21	IRD
APLT	0.9	0.79	0.86	-0.7	-0.75	0.82	0.88	0.32	-0.21		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

FATE	+ 0.91	NKTX
APLT	+ 0.9	NKTX
CRBP	+ 0.88	NKTX
CRBP	+ 0.88	FATE
APLT	+ 0.88	CRBP
CRBP	+ 0.87	SAVA

High negative correlations

CRBP	- 0.78	MOLN
MOLN	- 0.77	FATE
APLT	- 0.75	MOLN
MOLN	- 0.73	NKTX
APLT	- 0.7	PEPG
MOLN	- 0.64	SAVA

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	2.82	(0.20)	0.00	(0.05)	0.00	0.00	6.09	(7.63)	22.44
SAVA	4.95	(0.50)	0.00	(0.09)	0.00	0.00	9.63	(9.75)	39.88
FATE	3.86	(0.30)	0.00	(0.25)	0.00	0.00	8.00	(8.40)	31.77
PEPG	4.32	0.69	0.14	0.34	4.81	(4.53)	10.14	(8.29)	30.74
MOLN	2.76	0.29	0.05	(0.46)	3.25	(3.21)	4.85	(5.45)	26.47
VOR	6.16	(1.31)	0.00	(1.51)	0.00	0.00	13.01	(11.01)	52.41
CRBP	3.67	(0.59)	0.00	(1.04)	0.00	0.00	7.69	(8.37)	43.08
ABOS	4.48	0.28	0.07	0.18	4.64	(5.35)	12.14	(7.18)	30.69
IRD	3.17	0.39	0.10	0.38	3.50	(3.74)	7.45	(6.96)	26.50
APLT	7.90	(1.66)	0.00	(0.22)	0.00	0.00	16.67	(15.73)	103.19

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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