Erasca Correlations

ERAS Stock

USD 3.49 0.10 2.79%

The current 90-days correlation between Erasca Inc and Astria Therapeutics is -0.04 (i.e., Good diversification). The correlation of Erasca 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.

Erasca Correlation With Market

Average diversification

The correlation between Erasca Inc and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Erasca Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Erasca Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Erasca Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Erasca Stock

0.66	AMGN	Amgen Inc	Pair Corr
0.92	FTV	Fortive Corp	Pair Corr
0.66	AXP	American Express	Pair Corr
0.69	CAT	Caterpillar	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.73	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.83	CSCO	Cisco Systems	Pair Corr
0.91	MRK	Merck Company	Pair Corr
0.76	BAC	Bank of America	Pair Corr
0.76	MCD	McDonalds	Pair Corr

Moving against Erasca Stock

0.81	MSFT	Microsoft Sell-off Trend	Pair Corr
0.77	HD	Home Depot	Pair Corr
0.73	PG	Procter Gamble	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.47	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	ATXS	AVBP	MLTX	IOVA	MGTX	MBX	CTMX	CRVS	ARVN	VALN
ATXS		0.31	0.67	0.25	0.01	0.6	0.61	0.55	0.59	-0.88	ATXS
AVBP	0.31		0.8	0.3	-0.11	0.64	0.51	0.53	0.82	-0.39	AVBP
MLTX	0.67	0.8		0.45	-0.25	0.87	0.76	0.71	0.93	-0.8	MLTX
IOVA	0.25	0.3	0.45		-0.35	0.51	0.5	0.11	0.47	-0.35	IOVA
MGTX	0.01	-0.11	-0.25	-0.35		-0.29	-0.16	-0.15	-0.24	0.12	MGTX
MBX	0.6	0.64	0.87	0.51	-0.29		0.82	0.66	0.9	-0.75	MBX
CTMX	0.61	0.51	0.76	0.5	-0.16	0.82		0.47	0.73	-0.71	CTMX
CRVS	0.55	0.53	0.71	0.11	-0.15	0.66	0.47		0.71	-0.54	CRVS
ARVN	0.59	0.82	0.93	0.47	-0.24	0.9	0.73	0.71		-0.7	ARVN
VALN	-0.88	-0.39	-0.8	-0.35	0.12	-0.75	-0.71	-0.54	-0.7		VALN
	ATXS	AVBP	MLTX	IOVA	MGTX	MBX	CTMX	CRVS	ARVN	VALN

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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

ARVN	+ 0.93	MLTX
ARVN	+ 0.9	MBX
MBX	+ 0.87	MLTX
ARVN	+ 0.82	AVBP
CTMX	+ 0.82	MBX
MLTX	+ 0.8	AVBP

High negative correlations

VALN	- 0.88	ATXS
VALN	- 0.8	MLTX
VALN	- 0.75	MBX
VALN	- 0.71	CTMX
VALN	- 0.7	ARVN
VALN	- 0.54	CRVS

Risk-Adjusted Indicators

There is a big difference between Erasca Stock performing well and Erasca 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 Erasca'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
ATXS	1.90	0.91	0.75	1.10	0.00	(2.39)	3.57	(1.79)	38.97
AVBP	2.78	0.13	0.05	0.13	2.97	(3.10)	6.31	(4.98)	15.68
MLTX	3.47	0.84	0.21	2.40	3.45	(4.04)	8.68	(5.16)	22.06
IOVA	3.82	0.29	0.08	0.27	3.89	(4.87)	11.81	(7.38)	37.34
MGTX	2.70	(0.17)	0.00	(0.01)	0.00	0.00	6.05	(5.54)	18.08
MBX	4.05	0.90	0.20	0.73	3.77	(4.58)	9.71	(6.76)	25.38
CTMX	3.39	0.42	0.10	0.25	4.41	(3.56)	7.21	(8.51)	30.48
CRVS	2.85	(0.01)	0.00	0.04	3.43	(2.99)	6.11	(5.41)	17.21
ARVN	3.11	0.50	0.13	1.09	3.18	(3.51)	6.30	(4.42)	28.90
VALN	1.92	(0.51)	0.00	(0.38)	0.00	0.00	4.52	(4.81)	14.16

Erasca Corporate Management

Michael Varney	Scientific Development	Profile
Minli Xie	Senior Operations	Profile
Rachel Cervantes	Senior Development	Profile
Lisa TesvichBonora	Chief Officer	Profile
Amy Parker	Senior Operations	Profile
Nik Chetwyn	VP Operations	Profile
Dawei Xuan	Senior Pharmacology	Profile

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