Bright Minds Correlations

DRUG Stock

USD 35.33 2.95 9.11%

The current 90-days correlation between Bright Minds Biosciences and Zura Bio Limited is 0.07 (i.e., Significant diversification). The correlation of Bright Minds 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.

Bright Minds Correlation With Market

Good diversification

The correlation between Bright Minds Biosciences and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bright Minds Biosciences and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Bright Minds Biosciences. 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.

Moving together with Bright Stock

0.62	MLYS	Mineralys Therapeutics,	Pair Corr
0.64	KB	KB Financial Group	Pair Corr
0.63	HPQ	HP Inc	Pair Corr
0.75	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.74	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Moving against Bright Stock

0.9	MTEM	Molecular Templates	Pair Corr
0.83	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.81	TPST	Tempest Therapeutics	Pair Corr
0.8	ME	23Andme Holding	Pair Corr
0.76	AGL	agilon health	Pair Corr
0.74	NKTX	Nkarta Inc	Pair Corr
0.65	A	Agilent Technologies Earnings Call Tomorrow	Pair Corr
0.64	IPSC	Century Therapeutics	Pair Corr
0.57	VALN	Valneva SE ADR	Pair Corr
0.55	CYRX	Cryoport	Pair Corr
0.54	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.53	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.44	TCHH	Trustcash Holdings	Pair Corr
0.37	BACK	IMAC Holdings	Pair Corr
0.86	EC	Ecopetrol SA ADR	Pair Corr
0.79	HYMTF	Hyundai Motor	Pair Corr
0.79	KO	Coca Cola Aggressive Push	Pair Corr
0.71	SHG	Shinhan Financial	Pair Corr
0.7	TLK	Telkom Indonesia Tbk	Pair Corr
0.54	PG	Procter Gamble	Pair Corr
0.5	WF	Woori Financial Group	Pair Corr
0.48	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	REVB	ZURA	PHIO	ZVSA	RNAZ	PYXS	EFTR	CYTO	ELEV	APGN
REVB		0.09	0.03	0.5	-0.47	0.07	0.69	0.62	0.88	0.1	REVB
ZURA	0.09		0.33	0.16	0.5	0.46	-0.07	-0.15	-0.03	0.08	ZURA
PHIO	0.03	0.33		0.4	0.17	0.09	0.22	0.22	-0.02	-0.27	PHIO
ZVSA	0.5	0.16	0.4		-0.1	-0.13	0.49	0.85	0.39	0.09	ZVSA
RNAZ	-0.47	0.5	0.17	-0.1		-0.03	-0.22	-0.51	-0.59	0.35	RNAZ
PYXS	0.07	0.46	0.09	-0.13	-0.03		-0.18	-0.12	0.01	-0.15	PYXS
EFTR	0.69	-0.07	0.22	0.49	-0.22	-0.18		0.53	0.6	0.15	EFTR
CYTO	0.62	-0.15	0.22	0.85	-0.51	-0.12	0.53		0.6	-0.04	CYTO
ELEV	0.88	-0.03	-0.02	0.39	-0.59	0.01	0.6	0.6		-0.07	ELEV
APGN	0.1	0.08	-0.27	0.09	0.35	-0.15	0.15	-0.04	-0.07		APGN
	REVB	ZURA	PHIO	ZVSA	RNAZ	PYXS	EFTR	CYTO	ELEV	APGN

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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

ELEV	+ 0.88	REVB
CYTO	+ 0.85	ZVSA
EFTR	+ 0.69	REVB
CYTO	+ 0.62	REVB
ELEV	+ 0.6	EFTR
ELEV	+ 0.6	CYTO

High negative correlations

ELEV	- 0.59	RNAZ
CYTO	- 0.51	RNAZ
RNAZ	- 0.47	REVB
APGN	- 0.27	PHIO
EFTR	- 0.22	RNAZ
EFTR	- 0.18	PYXS

Risk-Adjusted Indicators

There is a big difference between Bright Stock performing well and Bright Minds 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 Bright Minds' 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
REVB	3.66	(0.84)	0.00	(0.31)	0.00	0.00	8.97	(7.83)	34.52
ZURA	3.89	(0.50)	0.00	(0.15)	0.00	0.00	7.95	(7.94)	30.69
PHIO	4.66	(0.28)	0.00	(0.11)	0.00	0.00	11.78	(10.38)	36.22
ZVSA	4.13	(0.89)	0.00	0.54	0.00	0.00	7.57	(9.60)	78.93
RNAZ	7.83	1.26	0.12	(0.63)	6.58	(11.84)	22.00	(11.43)	68.80
PYXS	3.85	(0.70)	0.00	1.40	0.00	0.00	6.41	(8.17)	61.13
EFTR	7.57	(4.50)	0.00	8.68	0.00	0.00	8.70	(27.78)	88.91
CYTO	3.50	(1.17)	0.00	58.15	0.00	0.00	6.98	(10.87)	22.81
ELEV	3.51	(0.59)	0.00	(0.17)	0.00	0.00	5.77	(8.22)	22.21
APGN	5.12	0.27	0.00	(0.06)	5.50	(7.45)	7.89	(11.11)	58.79

Bright Minds Corporate Management

FCCP MD	Chief Officer	Profile
Jan MSc	Interim Director	Profile
Emer MBA	Consultant	Profile
Gideon Shapiro	VP Discovery	Profile
Ian McDonald	CEO, CoFounder	Profile

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