Gossamer Bio Correlations

GOSS Stock

USD 2.13 0.02 0.95%

The current 90-days correlation between Gossamer Bio and Kalvista Pharmaceuticals is 0.3 (i.e., Weak diversification). The correlation of Gossamer Bio 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.

Gossamer Bio Correlation With Market

Excellent diversification

The correlation between Gossamer Bio and DJI is -0.64 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gossamer Bio and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gossamer Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gossamer Bio. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more information on how to buy Gossamer Stock please use our How to Invest in Gossamer Bio guide.

Moving together with Gossamer Stock

0.65	VCYT	Veracyte Earnings Call This Week	Pair Corr
0.71	DTIL	Precision BioSciences	Pair Corr
0.66	BIM	Biomerieux SA Earnings Call This Week	Pair Corr

Moving against Gossamer Stock

0.81	VALN	Valneva SE ADR	Pair Corr
0.78	DRTS	Alpha Tau Medical	Pair Corr
0.71	GXEA	Galapagos NV Earnings Call This Week	Pair Corr
0.71	6C1	CytomX Therapeutics	Pair Corr
0.68	8VP1	AVRICORE HEALTH INC	Pair Corr
0.52	EQ	Equillium	Pair Corr
0.5	CMB	Cambium Bio Earnings Call This Week	Pair Corr
0.49	DNTH	Dianthus Therapeutics	Pair Corr
0.49	PYC	Physiomics Plc	Pair Corr
0.46	DNLI	Denali Therapeutics	Pair Corr
0.45	AVH	Avita Medical	Pair Corr
0.37	2CG	NANOSPHERE HEASCIENCES	Pair Corr
0.36	DSGN	Design Therapeutics	Pair Corr
0.31	JUMP	Leveljump Healthcare Corp	Pair Corr
0.31	H2K2	XTL Biopharmaceuticals Split	Pair Corr
0.85	DVAX	Dynavax Technologies	Pair Corr
0.79	ALA	Arovella Therapeutics Earnings Call This Week	Pair Corr
0.74	S09	Sutro Biopharma Split	Pair Corr
0.72	0P6S	Bayer AG NA	Pair Corr
0.64	SRZNW	Surrozen Warrant	Pair Corr
0.54	TF2	Takara Bio	Pair Corr
0.53	VRTX	Vertex Pharmaceuticals	Pair Corr
0.35	VNDA	Vanda Pharmaceuticals Downward Rally	Pair Corr

Related Correlations Analysis

	KALV	FDMT	OLMA	VTYX	LXRX	RIGL	PRTA	CRVS	RAPT	RGNX
KALV		-0.23	0.43	0.05	-0.14	-0.19	-0.12	0.06	0.18	0.27	KALV
FDMT	-0.23		-0.04	-0.44	0.28	0.4	0.65	-0.16	-0.24	-0.3	FDMT
OLMA	0.43	-0.04		-0.16	-0.3	0.12	0.05	-0.18	-0.08	0.45	OLMA
VTYX	0.05	-0.44	-0.16		0.22	-0.72	-0.62	0.72	0.75	-0.33	VTYX
LXRX	-0.14	0.28	-0.3	0.22		-0.05	0.45	0.48	0.31	-0.14	LXRX
RIGL	-0.19	0.4	0.12	-0.72	-0.05		0.74	-0.74	-0.82	0.48	RIGL
PRTA	-0.12	0.65	0.05	-0.62	0.45	0.74		-0.35	-0.51	0.3	PRTA
CRVS	0.06	-0.16	-0.18	0.72	0.48	-0.74	-0.35		0.95	-0.48	CRVS
RAPT	0.18	-0.24	-0.08	0.75	0.31	-0.82	-0.51	0.95		-0.53	RAPT
RGNX	0.27	-0.3	0.45	-0.33	-0.14	0.48	0.3	-0.48	-0.53		RGNX
	KALV	FDMT	OLMA	VTYX	LXRX	RIGL	PRTA	CRVS	RAPT	RGNX

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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

RAPT	+ 0.95	CRVS
RAPT	+ 0.75	VTYX
PRTA	+ 0.74	RIGL
CRVS	+ 0.72	VTYX
PRTA	+ 0.65	FDMT
CRVS	+ 0.48	LXRX

High negative correlations

RAPT	- 0.82	RIGL
CRVS	- 0.74	RIGL
RIGL	- 0.72	VTYX
PRTA	- 0.62	VTYX
RGNX	- 0.53	RAPT
RAPT	- 0.51	PRTA

Risk-Adjusted Indicators

There is a big difference between Gossamer Stock performing well and Gossamer Bio 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 Gossamer Bio'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
KALV	3.05	0.23	0.05	0.30	3.58	(3.00)	6.19	(6.60)	20.72
FDMT	3.65	(0.23)	0.00	(0.12)	0.00	0.00	7.04	(9.69)	27.09
OLMA	6.21	2.70	0.60	(0.72)	2.88	(8.00)	9.82	(5.86)	145.73
VTYX	3.31	0.84	0.17	(2.50)	3.10	(3.87)	9.00	(6.33)	37.04
LXRX	3.80	(0.03)	0.01	0.06	5.00	(4.79)	9.17	(7.65)	38.53
RIGL	2.98	(0.24)	0.00	(0.23)	0.00	0.00	6.30	(6.40)	20.01
PRTA	2.19	(0.22)	0.00	(0.07)	0.00	0.00	5.10	(4.36)	14.00
CRVS	6.52	2.57	0.46	(0.30)	3.37	(9.09)	7.35	(7.20)	174.42
RAPT	3.74	1.54	0.33	(0.46)	2.67	(4.32)	7.87	(6.78)	64.19
RGNX	3.70	(0.48)	0.00	(0.33)	0.00	0.00	7.94	(7.96)	27.87

Gossamer Bio Corporate Management

Colin Rowlings	Senior CMC	Profile
Robert Smith	Chief Officer	Profile
Matt Cravets	Senior Biometrics	Profile
Jeff Boerneke	General Secretary	Profile
Louis Cherico	Senior Treasury	Profile
Richard MD	Chief Officer	Profile

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