Precision BioSciences Correlations

DTIL Stock

USD 3.98 0.03 0.76%

The current 90-days correlation between Precision BioSciences and Metagenomi Common Stock is 0.36 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Precision BioSciences moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Precision BioSciences moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Precision BioSciences Correlation With Market

Pay attention - limited upside

The correlation between Precision BioSciences and DJI is -0.84 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Precision BioSciences and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Precision Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Precision 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 gross domestic product.

For more information on how to buy Precision Stock please use our How to buy in Precision Stock guide.

Moving together with Precision Stock

0.69	OSE	OSE Pharma SA	Pair Corr
0.68	VCYT	Veracyte Earnings Call Tomorrow	Pair Corr
0.76	DRMA	Dermata Therapeutics	Pair Corr

Moving against Precision Stock

0.81	GXEA	Galapagos NV	Pair Corr
0.73	EQ	Equillium	Pair Corr
0.68	8VP1	AVRICORE HEALTH INC	Pair Corr
0.58	VALN	Valneva SE ADR	Pair Corr
0.48	DNTH	Dianthus Therapeutics	Pair Corr
0.34	CMB	Cambium Bio Earnings Call Tomorrow	Pair Corr
0.33	DNLI	Denali Therapeutics Earnings Call This Week	Pair Corr
0.89	DRTS	Alpha Tau Medical	Pair Corr
0.89	0P6S	Bayer AG NA	Pair Corr
0.75	6C1	CytomX Therapeutics	Pair Corr
0.6	DSGN	Design Therapeutics	Pair Corr
0.47	VERA	Vera Therapeutics	Pair Corr
0.47	DRUG	Bright Minds Biosciences	Pair Corr
0.37	SAB	Sonic Healthcare	Pair Corr
0.33	PYC	Physiomics Plc	Pair Corr
0.8	DVAX	Dynavax Technologies	Pair Corr
0.71	VNDA	Vanda Pharmaceuticals Trending	Pair Corr
0.66	SRZNW	Surrozen Warrant	Pair Corr
0.63	ALA	Arovella Therapeutics Earnings Call Tomorrow	Pair Corr
0.56	HDP1	Arrowhead Pharmaceuticals	Pair Corr

Related Correlations Analysis

	MGX	ALXO	ADVM	ARTV	STRO	GUTS	RPTX	ATYR	CNTB	QNCX
MGX		-0.69	0.18	0.01	-0.57	0.82	-0.58	-0.57	-0.38	0.8	MGX
ALXO	-0.69		-0.01	-0.03	0.66	-0.84	0.62	0.82	0.23	-0.81	ALXO
ADVM	0.18	-0.01		0.47	0.16	0.32	0.3	0.08	-0.56	0.23	ADVM
ARTV	0.01	-0.03	0.47		0.45	0.15	0.51	-0.06	-0.4	0.01	ARTV
STRO	-0.57	0.66	0.16	0.45		-0.6	0.92	0.61	0.0	-0.66	STRO
GUTS	0.82	-0.84	0.32	0.15	-0.6		-0.55	-0.76	-0.31	0.96	GUTS
RPTX	-0.58	0.62	0.3	0.51	0.92	-0.55		0.51	-0.07	-0.64	RPTX
ATYR	-0.57	0.82	0.08	-0.06	0.61	-0.76	0.51		0.2	-0.73	ATYR
CNTB	-0.38	0.23	-0.56	-0.4	0.0	-0.31	-0.07	0.2		-0.23	CNTB
QNCX	0.8	-0.81	0.23	0.01	-0.66	0.96	-0.64	-0.73	-0.23		QNCX
	MGX	ALXO	ADVM	ARTV	STRO	GUTS	RPTX	ATYR	CNTB	QNCX

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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

QNCX	+ 0.96	GUTS
RPTX	+ 0.92	STRO
GUTS	+ 0.82	MGX
ATYR	+ 0.82	ALXO
QNCX	+ 0.8	MGX
STRO	+ 0.66	ALXO

High negative correlations

GUTS	- 0.84	ALXO
QNCX	- 0.81	ALXO
ATYR	- 0.76	GUTS
QNCX	- 0.73	ATYR
ALXO	- 0.69	MGX
QNCX	- 0.66	STRO

Risk-Adjusted Indicators

There is a big difference between Precision Stock performing well and Precision BioSciences 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 Precision BioSciences' 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
MGX	2.82	(0.37)	0.00	(0.10)	0.00	0.00	6.21	(5.17)	18.63
ALXO	5.29	0.88	0.14	(2.17)	5.27	(6.16)	12.07	(9.02)	22.52
ADVM	3.39	0.47	0.09	(2.19)	3.70	(4.59)	10.34	(6.79)	40.97
ARTV	6.03	1.03	0.13	1.67	6.98	(6.71)	7.64	(8.33)	118.69
STRO	4.77	1.25	0.22	0.80	4.71	(5.35)	11.87	(7.78)	29.10
GUTS	5.17	(0.92)	0.00	(0.63)	0.00	0.00	9.31	(8.44)	85.71
RPTX	2.16	0.46	0.23	0.31	1.47	(3.08)	3.95	(3.26)	35.71
ATYR	3.96	0.67	0.17	0.64	3.25	(5.98)	10.23	(6.10)	35.20
CNTB	4.27	0.22	0.03	(1.95)	4.81	(4.92)	9.23	(8.00)	34.64
QNCX	13.85	1.72	0.09	0.47	19.43	(17.57)	16.82	(16.67)	369.99

Precision BioSciences Corporate Management

Maurissa Messier	Senior Communications	Profile
Fayaz Khazi	Chief Systems	Profile
Derek Jantz	Chief CoFounder	Profile
Jefferson Smith	CoFounder Officer	Profile
Cassie Gorsuch	Chief Officer	Profile
Bruce Stevens	Vice Compliance	Profile
John Kelly	Chief Officer	Profile

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