Genmab AS Correlations

GNMSF Stock

USD 327.25 3.12 0.94%

The current 90-days correlation between Genmab AS and WuXi Biologics is -0.01 (i.e., Good diversification). The correlation of Genmab AS 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.

Genmab AS Correlation With Market

Very weak diversification

The correlation between Genmab AS and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Genmab AS and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Genmab AS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Genmab AS when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Genmab AS - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Genmab AS to buy it.

Moving together with Genmab Pink Sheet

0.68	VRTX	Vertex Pharmaceuticals	Pair Corr
0.81	REGN	Regeneron Pharmaceuticals Earnings Call This Week	Pair Corr
0.73	KGC	Kinross Gold Aggressive Push	Pair Corr
0.71	AEM	Agnico Eagle Mines	Pair Corr
0.7	MNHVF	Mowi ASA	Pair Corr
0.69	USAS	Americas Silver Corp Trending	Pair Corr
0.76	MRK	Merck Company	Pair Corr
0.78	WMT	Walmart Common Stock	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr

Moving against Genmab Pink Sheet

0.65	NTNX	Nutanix	Pair Corr
0.52	ALNY	Alnylam Pharmaceuticals	Pair Corr
0.59	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.57	HPQ	HP Inc	Pair Corr
0.37	PG	Procter Gamble	Pair Corr
0.32	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	WXIBF	WXXWY	IVBXF	SBHMY	SBMFF	ALPMY	ALPMF	ORINY	GIKLY	BMXXY
WXIBF		0.61	-0.33	0.32	-0.11	-0.35	-0.3	0.21	0.59	0.41	WXIBF
WXXWY	0.61		-0.17	-0.09	0.42	0.08	0.04	0.42	0.33	0.4	WXXWY
IVBXF	-0.33	-0.17		0.23	0.01	-0.15	-0.24	-0.11	-0.09	0.3	IVBXF
SBHMY	0.32	-0.09	0.23		-0.57	-0.82	-0.76	-0.31	0.56	0.57	SBHMY
SBMFF	-0.11	0.42	0.01	-0.57		0.73	0.6	0.15	-0.51	0.07	SBMFF
ALPMY	-0.35	0.08	-0.15	-0.82	0.73		0.94	0.35	-0.76	-0.49	ALPMY
ALPMF	-0.3	0.04	-0.24	-0.76	0.6	0.94		0.44	-0.71	-0.54	ALPMF
ORINY	0.21	0.42	-0.11	-0.31	0.15	0.35	0.44		-0.12	-0.21	ORINY
GIKLY	0.59	0.33	-0.09	0.56	-0.51	-0.76	-0.71	-0.12		0.41	GIKLY
BMXXY	0.41	0.4	0.3	0.57	0.07	-0.49	-0.54	-0.21	0.41		BMXXY
	WXIBF	WXXWY	IVBXF	SBHMY	SBMFF	ALPMY	ALPMF	ORINY	GIKLY	BMXXY

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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

ALPMF	+ 0.94	ALPMY
ALPMY	+ 0.73	SBMFF
WXXWY	+ 0.61	WXIBF
ALPMF	+ 0.6	SBMFF
GIKLY	+ 0.59	WXIBF
BMXXY	+ 0.57	SBHMY

High negative correlations

ALPMY	- 0.82	SBHMY
GIKLY	- 0.76	ALPMY
ALPMF	- 0.76	SBHMY
GIKLY	- 0.71	ALPMF
SBMFF	- 0.57	SBHMY
BMXXY	- 0.54	ALPMF

Risk-Adjusted Indicators

There is a big difference between Genmab Pink Sheet performing well and Genmab AS 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 Genmab AS'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
WXIBF	0.54	(0.11)	0.00	(0.17)	0.00	0.00	1.90	(1.63)	9.78
WXXWY	2.08	0.09	0.02	0.23	2.19	(2.42)	4.38	(3.44)	13.05
IVBXF	2.49	(0.04)	0.00	0.21	0.00	0.00	6.51	(5.56)	26.40
SBHMY	0.30	(0.14)	0.00	0.62	0.00	0.00	0.00	0.00	6.32
SBMFF	0.11	0.03	0.00	(0.72)	0.00	0.00	0.00	0.00	3.42
ALPMY	1.24	0.48	0.27	10.80	0.93	(1.53)	3.01	(1.71)	10.25
ALPMF	1.95	0.41	0.06	4.49	2.61	(3.39)	5.48	(4.49)	20.05
ORINY	1.21	(0.07)	0.00	(0.19)	0.00	0.00	4.52	(4.51)	19.91
GIKLY	0.40	(0.16)	0.00	1.08	0.00	0.00	0.00	0.00	12.26
BMXXY	0.55	0.02	0.00	0.43	0.00	0.00	0.00	0.00	15.48

Be your own money manager

Our tools can tell you how much better you can do entering a position in Genmab AS without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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