Cabaletta Bio Correlations

CABA Stock

USD 2.10 0.07 3.23%

The current 90-days correlation between Cabaletta Bio and Editas Medicine is 0.02 (i.e., Significant diversification). The correlation of Cabaletta 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.

Cabaletta Bio Correlation With Market

Good diversification

The correlation between Cabaletta Bio and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cabaletta Bio and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cabaletta Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cabaletta 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 bureau of labor statistics.

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

Moving together with Cabaletta Stock

0.66	HPQ	HP Inc	Pair Corr
0.61	HD	Home Depot	Pair Corr

Moving against Cabaletta Stock

0.7	TRV	The Travelers Companies	Pair Corr
0.64	XOM	Exxon Mobil Corp	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr
0.6	WSFS	WSFS Financial	Pair Corr
0.59	AMGN	Amgen Inc	Pair Corr
0.54	ATI	Allegheny Technologies	Pair Corr
0.54	DD	Dupont De Nemours	Pair Corr
0.52	PFE	Pfizer Inc	Pair Corr
0.45	ACR-PC	ACRES Commercial Realty	Pair Corr
0.45	ACN	Accenture plc	Pair Corr
0.44	F	Ford Motor Aggressive Push	Pair Corr
0.44	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.42	ASXSF	Elysee Development Corp	Pair Corr
0.41	ABBV	AbbVie Inc	Pair Corr
0.39	GILD	Gilead Sciences	Pair Corr
0.38	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.37	BAC	Bank of America Earnings Call This Week	Pair Corr
0.36	KO	Coca Cola	Pair Corr
0.33	AXP	American Express	Pair Corr

Related Correlations Analysis

	EDIT	ALLO	CAPR	KYTX	LYEL	AVIR	PRQR	IMMP	LXEO	HUMA
EDIT		-0.35	-0.56	-0.5	-0.61	-0.33	0.72	-0.4	-0.52	0.91	EDIT
ALLO	-0.35		0.65	0.54	0.66	0.11	-0.43	0.53	0.28	-0.4	ALLO
CAPR	-0.56	0.65		0.73	0.9	0.52	-0.45	0.8	0.51	-0.64	CAPR
KYTX	-0.5	0.54	0.73		0.73	0.52	-0.31	0.67	0.62	-0.56	KYTX
LYEL	-0.61	0.66	0.9	0.73		0.39	-0.46	0.75	0.61	-0.68	LYEL
AVIR	-0.33	0.11	0.52	0.52	0.39		-0.08	0.69	0.47	-0.32	AVIR
PRQR	0.72	-0.43	-0.45	-0.31	-0.46	-0.08		-0.24	-0.04	0.8	PRQR
IMMP	-0.4	0.53	0.8	0.67	0.75	0.69	-0.24		0.57	-0.49	IMMP
LXEO	-0.52	0.28	0.51	0.62	0.61	0.47	-0.04	0.57		-0.45	LXEO
HUMA	0.91	-0.4	-0.64	-0.56	-0.68	-0.32	0.8	-0.49	-0.45		HUMA
	EDIT	ALLO	CAPR	KYTX	LYEL	AVIR	PRQR	IMMP	LXEO	HUMA

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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

HUMA	+ 0.91	EDIT
LYEL	+ 0.9	CAPR
IMMP	+ 0.8	CAPR
HUMA	+ 0.8	PRQR
IMMP	+ 0.75	LYEL
KYTX	+ 0.73	CAPR

High negative correlations

HUMA	- 0.68	LYEL
HUMA	- 0.64	CAPR
LYEL	- 0.61	EDIT
HUMA	- 0.56	KYTX
CAPR	- 0.56	EDIT
LXEO	- 0.52	EDIT

Risk-Adjusted Indicators

There is a big difference between Cabaletta Stock performing well and Cabaletta 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 Cabaletta 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
EDIT	3.44	(1.02)	0.00	(0.46)	0.00	0.00	7.54	(8.82)	25.73
ALLO	3.81	0.25	0.08	0.17	4.37	(5.15)	9.76	(6.16)	27.43
CAPR	12.38	5.52	0.84	(1.69)	4.47	(17.13)	11.97	(10.26)	386.29
KYTX	6.36	0.82	0.12	0.41	7.59	(7.39)	13.12	(9.60)	65.24
LYEL	4.40	0.52	0.12	0.42	4.70	(5.19)	12.12	(8.14)	31.14
AVIR	1.84	0.16	0.05	0.23	3.01	(1.91)	4.38	(3.27)	17.80
PRQR	3.70	(0.08)	0.00	(1.08)	0.00	0.00	9.43	(7.80)	19.56
IMMP	3.21	0.73	0.20	10.11	2.77	(3.92)	6.88	(5.41)	31.54
LXEO	3.71	0.70	0.15	5.59	3.84	(4.19)	9.24	(6.73)	38.59
HUMA	3.71	(0.66)	0.00	(0.15)	0.00	0.00	8.16	(8.13)	22.74

Cabaletta Bio Corporate Management

PharmD MBA	SVP International	Profile
Samik MD	Chief Officer	Profile
Aimee MD	CoFounder Board	Profile
Arun MD	Chief Officer	Profile
Anup MBA	Chief Officer	Profile
SPHR CCP	Chief Officer	Profile

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