Editas Medicine Correlations

EDIT Stock

USD 1.22 0.02 1.61%

The current 90-days correlation between Editas Medicine and Caribou Biosciences is 0.51 (i.e., Very weak diversification). The correlation of Editas Medicine 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Editas Medicine Correlation With Market

Average diversification

The correlation between Editas Medicine and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Editas Medicine 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 Editas Medicine. 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 Editas Stock please use our How to Invest in Editas Medicine guide.

Moving together with Editas Stock

0.66	EQ	Equillium	Pair Corr
0.77	ME	23Andme Holding	Pair Corr
0.82	VALN	Valneva SE ADR	Pair Corr
0.91	DNLI	Denali Therapeutics	Pair Corr
0.76	DNTH	Dianthus Therapeutics	Pair Corr
0.87	DOMH	Dominari Holdings	Pair Corr
0.86	DRRX	Durect	Pair Corr
0.97	DTIL	Precision BioSciences	Pair Corr
0.97	VIGL	Vigil Neuroscience	Pair Corr
0.9	VINC	Vincerx Pharma	Pair Corr
0.92	VKTX	Viking Therapeutics	Pair Corr
0.76	VRCA	Verrica Pharmaceuticals	Pair Corr
0.88	VRDN	Viridian Therapeutics Buyout Trend	Pair Corr
0.83	VRPX	Virpax Pharmaceuticals	Pair Corr
0.86	VRTX	Vertex Pharmaceuticals	Pair Corr

Moving against Editas Stock

0.9	DRTS	Alpha Tau Medical	Pair Corr
0.81	DMAC	DiaMedica Therapeutics	Pair Corr
0.8	CDIOW	Cardio Diagnostics	Pair Corr
0.78	VCEL	Vericel Corp Ord	Pair Corr
0.78	VCYT	Veracyte Potential Growth	Pair Corr
0.59	SABSW	SAB Biotherapeutics	Pair Corr
0.87	VRNA	Verona Pharma PLC	Pair Corr
0.84	DYAI	Dyadic International	Pair Corr
0.74	SRZNW	Surrozen Warrant	Pair Corr
0.66	VSTM	Verastem	Pair Corr
0.62	DVAX	Dynavax Technologies	Pair Corr
0.45	KTTAW	Pasithea Therapeutics	Pair Corr
0.4	VYNE	Vyne Therapeutics	Pair Corr

Related Correlations Analysis

	BEAM	CRSP	CRBU	VERV	NTLA	PRME	VRTX	DNA	ALLO	SANA
BEAM		0.01	0.22	0.33	-0.17	-0.36	-0.1	0.42	-0.2	-0.53	BEAM
CRSP	0.01		0.83	0.28	0.67	0.66	0.85	-0.31	0.7	0.34	CRSP
CRBU	0.22	0.83		0.35	0.49	0.59	0.74	-0.24	0.74	0.16	CRBU
VERV	0.33	0.28	0.35		-0.01	0.18	0.07	0.67	0.23	-0.07	VERV
NTLA	-0.17	0.67	0.49	-0.01		0.79	0.76	-0.31	0.76	0.56	NTLA
PRME	-0.36	0.66	0.59	0.18	0.79		0.74	-0.32	0.91	0.65	PRME
VRTX	-0.1	0.85	0.74	0.07	0.76	0.74		-0.45	0.75	0.51	VRTX
DNA	0.42	-0.31	-0.24	0.67	-0.31	-0.32	-0.45		-0.32	-0.35	DNA
ALLO	-0.2	0.7	0.74	0.23	0.76	0.91	0.75	-0.32		0.59	ALLO
SANA	-0.53	0.34	0.16	-0.07	0.56	0.65	0.51	-0.35	0.59		SANA
	BEAM	CRSP	CRBU	VERV	NTLA	PRME	VRTX	DNA	ALLO	SANA

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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

ALLO	+ 0.91	PRME
VRTX	+ 0.85	CRSP
CRBU	+ 0.83	CRSP
PRME	+ 0.79	NTLA
VRTX	+ 0.76	NTLA
ALLO	+ 0.76	NTLA

High negative correlations

SANA	- 0.53	BEAM
DNA	- 0.45	VRTX
PRME	- 0.36	BEAM
SANA	- 0.35	DNA
ALLO	- 0.32	DNA
DNA	- 0.32	PRME

Risk-Adjusted Indicators

There is a big difference between Editas Stock performing well and Editas Medicine 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 Editas Medicine'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
BEAM	3.67	0.02	0.00	(0.08)	4.32	(4.07)	8.04	(8.20)	20.93
CRSP	2.61	(0.18)	0.00	1.08	0.00	0.00	5.70	(5.90)	17.42
CRBU	3.68	(0.20)	0.00	(0.26)	0.00	0.00	8.91	(8.02)	28.53
VERV	4.95	0.61	0.11	0.42	5.15	(5.37)	11.13	(8.35)	36.90
NTLA	3.57	(0.91)	0.00	(0.76)	0.00	0.00	5.18	(8.26)	25.94
PRME	4.07	(0.23)	0.00	(0.33)	0.00	0.00	7.74	(9.09)	25.80
VRTX	1.46	(0.20)	0.00	(0.37)	0.00	0.00	2.57	(3.77)	17.09
DNA	5.13	0.72	0.11	0.45	6.22	(5.56)	12.92	(11.97)	32.55
ALLO	4.13	(0.43)	0.00	(1.36)	0.00	0.00	8.99	(8.30)	22.87
SANA	7.46	0.86	0.12	0.70	6.43	(9.96)	9.02	(11.88)	175.49

Editas Medicine Corporate Management

Bruce Eaton	Exec Officer	Profile
Cristi Barnett	Corporate Relations	Profile
Charlene JD	Executive Counsel	Profile
Michelle Robertson	Principal CFO	Profile

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