Bluebird Bio Correlations

BLUE Stock

USD 8.35 0.09 1.09%

The current 90-days correlation between Bluebird bio and Mersana Therapeutics is -0.03 (i.e., Good diversification). The correlation of Bluebird Bio 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.

Bluebird Bio Correlation With Market

Good diversification

The correlation between Bluebird bio and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bluebird bio 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 Bluebird bio. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

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

Moving against Bluebird Stock

0.46	VCEL	Vericel Corp Ord	Pair Corr
0.5	VTRS	Viatris	Pair Corr
0.37	DVAX	Dynavax Technologies	Pair Corr
0.32	KTTAW	Pasithea Therapeutics	Pair Corr

Related Correlations Analysis

	MRSN	ZNTL	YMAB	TVTX	MDGL	VKTX	SRPT	HEPA	PTCT	AGIO
MRSN		0.74	0.66	0.23	0.05	0.58	0.07	0.65	0.08	0.78	MRSN
ZNTL	0.74		0.43	0.37	0.46	0.3	0.01	0.4	0.25	0.68	ZNTL
YMAB	0.66	0.43		0.02	-0.39	0.96	0.24	0.71	-0.49	0.55	YMAB
TVTX	0.23	0.37	0.02		0.28	0.01	0.22	0.22	0.41	0.45	TVTX
MDGL	0.05	0.46	-0.39	0.28		-0.44	-0.28	-0.24	0.58	0.23	MDGL
VKTX	0.58	0.3	0.96	0.01	-0.44		0.3	0.7	-0.5	0.48	VKTX
SRPT	0.07	0.01	0.24	0.22	-0.28	0.3		0.08	0.21	-0.08	SRPT
HEPA	0.65	0.4	0.71	0.22	-0.24	0.7	0.08		-0.36	0.64	HEPA
PTCT	0.08	0.25	-0.49	0.41	0.58	-0.5	0.21	-0.36		0.04	PTCT
AGIO	0.78	0.68	0.55	0.45	0.23	0.48	-0.08	0.64	0.04		AGIO
	MRSN	ZNTL	YMAB	TVTX	MDGL	VKTX	SRPT	HEPA	PTCT	AGIO

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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

VKTX	+ 0.96	YMAB
AGIO	+ 0.78	MRSN
ZNTL	+ 0.74	MRSN
HEPA	+ 0.71	YMAB
HEPA	+ 0.7	VKTX
AGIO	+ 0.68	ZNTL

High negative correlations

PTCT	- 0.5	VKTX
PTCT	- 0.49	YMAB
VKTX	- 0.44	MDGL
MDGL	- 0.39	YMAB
PTCT	- 0.36	HEPA
SRPT	- 0.28	MDGL

Risk-Adjusted Indicators

There is a big difference between Bluebird Stock performing well and Bluebird Bio 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 Bluebird Bio'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
MRSN	5.51	(1.43)	0.00	(0.63)	0.00	0.00	9.05	(13.89)	64.16
ZNTL	4.45	(0.26)	0.00	(0.30)	0.00	0.00	8.36	(10.57)	37.75
YMAB	2.70	(1.24)	0.00	(2.55)	0.00	0.00	3.07	(7.87)	20.65
TVTX	2.15	0.10	0.04	0.14	2.41	(2.76)	4.84	(4.12)	20.58
MDGL	2.90	0.56	0.16	0.80	3.01	(3.33)	5.53	(4.66)	33.61
VKTX	3.33	(0.95)	0.00	(1.11)	0.00	0.00	4.89	(9.14)	39.28
SRPT	1.84	(0.06)	0.00	(0.14)	0.00	0.00	3.38	(4.19)	18.92
HEPA	4.89	(0.08)	0.00	(0.22)	0.00	0.00	9.33	(8.54)	41.03
PTCT	2.60	0.22	0.08	0.90	2.58	(3.19)	6.61	(4.33)	23.75
AGIO	3.06	(0.28)	0.00	(0.33)	0.00	0.00	6.76	(7.01)	31.56

Bluebird Bio Corporate Management

Mr MD	Chief Officer	Profile
Melissa Bonner	VP Research	Profile
Andrea Walton	Chief Officer	Profile
JD Esq	Chief Secretary	Profile
Christopher CPA	Principal CFO	Profile

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