Connect Biopharma Correlations

CNTB Stock

USD 0.97 0.01 1.02%

The current 90-days correlation between Connect Biopharma and Assembly Biosciences is 0.07 (i.e., Significant diversification). The correlation of Connect Biopharma 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.

Connect Biopharma Correlation With Market

Significant diversification

The correlation between Connect Biopharma Holdings and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Connect Biopharma Holdings 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 Connect Biopharma Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving against Connect Stock

0.32	DOMH	Dominari Holdings Trending	Pair Corr
0.43	MIRM	Mirum Pharmaceuticals	Pair Corr

Related Correlations Analysis

	ASMB	NLTX	TIL	CTMX	ACHL	NXTC	NUVB	OVID
ASMB		0.0	0.43	0.48	-0.07	0.49	0.47	0.64	ASMB
NLTX	0.0		0.0	0.0	0.0	0.0	0.0	0.0	NLTX
TIL	0.43	0.0		0.15	-0.38	0.79	0.27	0.63	TIL
CTMX	0.48	0.0	0.15		-0.46	0.24	0.44	0.58	CTMX
ACHL	-0.07	0.0	-0.38	-0.46		-0.63	0.01	-0.65	ACHL
NXTC	0.49	0.0	0.79	0.24	-0.63		0.22	0.85	NXTC
NUVB	0.47	0.0	0.27	0.44	0.01	0.22		0.39	NUVB
OVID	0.64	0.0	0.63	0.58	-0.65	0.85	0.39		OVID
	ASMB	NLTX	TIL	CTMX	ACHL	NXTC	NUVB	OVID

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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

OVID	+ 0.85	NXTC
NXTC	+ 0.79	TIL
OVID	+ 0.64	ASMB
OVID	+ 0.63	TIL
OVID	+ 0.58	CTMX
NXTC	+ 0.49	ASMB

High negative correlations

OVID	- 0.65	ACHL
NXTC	- 0.63	ACHL
ACHL	- 0.46	CTMX
ACHL	- 0.38	TIL
ACHL	- 0.07	ASMB
OVID	- 0.0	NLTX

Risk-Adjusted Indicators

There is a big difference between Connect Stock performing well and Connect Biopharma 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 Connect Biopharma'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
ASMB	2.94	(0.22)	0.00	(0.92)	0.00	0.00	5.74	(5.39)	24.82
NLTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TIL	5.73	(0.13)	(0.01)	0.00	6.24	(6.15)	14.68	(9.64)	31.10
CTMX	3.71	(0.18)	0.00	(0.20)	0.00	0.00	7.32	(9.00)	23.37
ACHL	1.36	0.11	0.04	0.24	1.23	(2.59)	2.59	(2.86)	19.72
NXTC	3.09	(0.77)	0.00	(1.98)	0.00	0.00	6.74	(7.45)	24.13
NUVB	3.28	0.01	0.02	0.10	3.68	(4.11)	9.48	(7.38)	23.46
OVID	2.84	(0.93)	0.00	(0.61)	0.00	0.00	4.62	(5.74)	21.54

Connect Biopharma Corporate Management

Raul Collazo	VP Affairs	Profile
Kimberly Manhard	Chief Officer	Profile
Malinda Longphre	Head Operations	Profile
Jeff JD	General Secretary	Profile

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