Gossamer Bio Correlations

GOSS Stock

USD 2.88 0.22 7.10%

The current 90-days correlation between Gossamer Bio and Kalvista Pharmaceuticals is 0.39 (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

Weak diversification

The correlation between Gossamer Bio and DJI is 0.36 (i.e., Weak 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 real.

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	AMGN	Amgen Inc	Pair Corr
0.82	FTV	Fortive Corp	Pair Corr
0.76	TRV	The Travelers Companies	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.83	MRK	Merck Company	Pair Corr
0.68	MCD	McDonalds	Pair Corr

Moving against Gossamer Stock

0.79	MSFT	Microsoft	Pair Corr
0.68	HD	Home Depot	Pair Corr
0.67	HPQ	HP Inc	Pair Corr
0.6	PG	Procter Gamble	Pair Corr
0.47	CVX	Chevron Corp	Pair Corr
0.39	DOCKF	Beyond Medical Techn	Pair Corr

Related Correlations Analysis

	KALV	FDMT	OLMA	VTYX	LXRX	RIGL	PRTA	CRVS	RAPT	RGNX
KALV		-0.25	0.89	0.51	-0.55	0.77	-0.21	0.5	0.76	0.61	KALV
FDMT	-0.25		-0.24	0.09	0.42	-0.08	0.68	0.47	-0.21	-0.23	FDMT
OLMA	0.89	-0.24		0.47	-0.62	0.78	-0.23	0.45	0.72	0.63	OLMA
VTYX	0.51	0.09	0.47		-0.41	0.8	0.03	0.71	0.3	0.27	VTYX
LXRX	-0.55	0.42	-0.62	-0.41		-0.38	0.57	0.05	-0.56	-0.68	LXRX
RIGL	0.77	-0.08	0.78	0.8	-0.38		0.0	0.75	0.5	0.39	RIGL
PRTA	-0.21	0.68	-0.23	0.03	0.57	0.0		0.42	-0.25	-0.35	PRTA
CRVS	0.5	0.47	0.45	0.71	0.05	0.75	0.42		0.19	0.04	CRVS
RAPT	0.76	-0.21	0.72	0.3	-0.56	0.5	-0.25	0.19		0.8	RAPT
RGNX	0.61	-0.23	0.63	0.27	-0.68	0.39	-0.35	0.04	0.8		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

OLMA	+ 0.89	KALV
RIGL	+ 0.8	VTYX
RGNX	+ 0.8	RAPT
RIGL	+ 0.78	OLMA
RIGL	+ 0.77	KALV
RAPT	+ 0.76	KALV

High negative correlations

RGNX	- 0.68	LXRX
LXRX	- 0.62	OLMA
RAPT	- 0.56	LXRX
LXRX	- 0.55	KALV
LXRX	- 0.41	VTYX
RIGL	- 0.38	LXRX

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	2.98	0.54	0.17	0.39	2.75	(3.45)	8.43	(5.03)	22.91
FDMT	4.34	(0.26)	0.00	(0.02)	0.00	0.00	8.65	(7.85)	36.16
OLMA	6.53	2.50	0.47	(0.56)	3.86	(9.42)	9.46	(6.13)	145.73
VTYX	5.42	1.67	0.31	1.51	4.30	(6.26)	12.92	(6.98)	86.34
LXRX	3.35	(0.53)	0.00	(0.16)	0.00	0.00	7.04	(6.49)	27.27
RIGL	3.75	0.67	0.18	0.53	3.51	(5.19)	7.75	(6.40)	44.65
PRTA	2.41	(0.12)	0.00	(0.01)	0.00	0.00	5.10	(4.36)	12.28
CRVS	2.88	0.08	0.02	0.14	3.38	(3.02)	6.11	(5.41)	17.21
RAPT	3.27	0.09	0.03	0.10	4.19	(3.59)	7.87	(6.86)	25.29
RGNX	3.41	0.33	0.11	0.18	3.58	(3.78)	8.56	(6.11)	26.54

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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