Biomea Fusion Correlations

BMEA Stock

USD 6.44 0.06 0.94%

The current 90-days correlation between Biomea Fusion and Design Therapeutics is 0.04 (i.e., Significant diversification). The correlation of Biomea Fusion 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.

Biomea Fusion Correlation With Market

Average diversification

The correlation between Biomea Fusion and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Biomea Fusion 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 Biomea Fusion. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

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

Moving together with Biomea Stock

0.66

MLYS

Mineralys Therapeutics,

Pair Corr

Moving against Biomea Stock

0.61	MDGL	Madrigal Pharmaceuticals	Pair Corr
0.57	KEP	Korea Electric Power	Pair Corr
0.55	RNXT	RenovoRx	Pair Corr
0.34	CYRX	Cryoport	Pair Corr
0.53	VFSWW	VinFast Auto	Pair Corr

Related Correlations Analysis

	EWTX	HOWL	CGEM	DSGN	IKNA
EWTX		0.0	-0.54	0.44	0.16	EWTX
HOWL	0.0		0.0	0.0	0.0	HOWL
CGEM	-0.54	0.0		-0.26	0.09	CGEM
DSGN	0.44	0.0	-0.26		0.25	DSGN
IKNA	0.16	0.0	0.09	0.25		IKNA
	EWTX	HOWL	CGEM	DSGN	IKNA

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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

DSGN	+ 0.44	EWTX
IKNA	+ 0.25	DSGN
IKNA	+ 0.16	EWTX
IKNA	+ 0.09	CGEM
HOWL	+ 0.0	EWTX
CGEM	+ 0.0	HOWL

High negative correlations

CGEM	- 0.54	EWTX
DSGN	- 0.26	CGEM
IKNA	- 0.0	HOWL
DSGN	- 0.0	HOWL
CGEM	- 0.0	HOWL
HOWL	- 0.0	EWTX

Risk-Adjusted Indicators

There is a big difference between Biomea Stock performing well and Biomea Fusion 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 Biomea Fusion'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
EWTX	3.54	0.64	0.24	0.35	2.85	(4.17)	6.65	(4.70)	61.02
HOWL	0.00	(0.33)	0.00	0.40	0.00	0.00	8.33	(8.75)	49.02
CGEM	2.87	(0.44)	0.00	0.82	0.00	0.00	5.88	(7.24)	17.85
DSGN	3.97	0.22	0.02	11.77	5.40	(4.27)	8.54	(8.21)	35.31
IKNA	1.09	(0.07)	(0.07)	(0.01)	1.39	(1.50)	1.81	(1.74)	13.50

Biomea Fusion Corporate Management

Juan MD	Chief Officer	Profile
Caroline Dupont	Senior Contracts	Profile
Naomi Cretcher	Chief Officer	Profile
Heow Tan	Chief Officer	Profile
Stephan MD	Chief Officer	Profile
Franco Valle	CFO Officer	Profile

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