Immunitybio Correlations

IBRX Stock

USD 2.24 0.04 1.82%

The current 90-days correlation between Immunitybio and Arcus Biosciences is 0.14 (i.e., Average diversification). The correlation of Immunitybio 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.

Immunitybio Correlation With Market

Modest diversification

The correlation between Immunitybio and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Immunitybio and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Immunitybio Stock

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

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

Moving together with Immunitybio Stock

0.7	KG	Kestrel Group Symbol Change	Pair Corr
0.75	HPQ	HP Inc	Pair Corr

Moving against Immunitybio Stock

0.75	CUB	Lionheart Holdings	Pair Corr
0.75	TRV	The Travelers Companies	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr
0.6	XOM	Exxon Mobil Corp	Pair Corr
0.56	LION	Lionsgate Studios Holding	Pair Corr
0.45	JNJ	Johnson Johnson	Pair Corr
0.44	PFE	Pfizer Inc	Pair Corr
0.39	BAC	Bank of America Earnings Call This Week	Pair Corr
0.38	CAT	Caterpillar	Pair Corr
0.37	VZ	Verizon Communications	Pair Corr
0.34	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	RCUS	DNLI	ETNB	COGT	GLPG	BEAM	RXRX	LQDA	AGIO	VRDN
RCUS		0.7	-0.24	0.82	-0.3	0.11	-0.61	0.84	-0.76	0.78	RCUS
DNLI	0.7		0.07	0.69	-0.2	0.12	-0.29	0.55	-0.48	0.58	DNLI
ETNB	-0.24	0.07		-0.37	-0.2	-0.32	0.35	-0.55	0.45	-0.41	ETNB
COGT	0.82	0.69	-0.37		-0.13	0.05	-0.72	0.91	-0.8	0.81	COGT
GLPG	-0.3	-0.2	-0.2	-0.13		0.52	0.39	-0.1	0.07	-0.24	GLPG
BEAM	0.11	0.12	-0.32	0.05	0.52		0.36	0.21	-0.26	-0.02	BEAM
RXRX	-0.61	-0.29	0.35	-0.72	0.39	0.36		-0.69	0.55	-0.82	RXRX
LQDA	0.84	0.55	-0.55	0.91	-0.1	0.21	-0.69		-0.85	0.8	LQDA
AGIO	-0.76	-0.48	0.45	-0.8	0.07	-0.26	0.55	-0.85		-0.66	AGIO
VRDN	0.78	0.58	-0.41	0.81	-0.24	-0.02	-0.82	0.8	-0.66		VRDN
	RCUS	DNLI	ETNB	COGT	GLPG	BEAM	RXRX	LQDA	AGIO	VRDN

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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

LQDA	+ 0.91	COGT
LQDA	+ 0.84	RCUS
COGT	+ 0.82	RCUS
VRDN	+ 0.81	COGT
VRDN	+ 0.8	LQDA
VRDN	+ 0.78	RCUS

High negative correlations

AGIO	- 0.85	LQDA
VRDN	- 0.82	RXRX
AGIO	- 0.8	COGT
AGIO	- 0.76	RCUS
RXRX	- 0.72	COGT
LQDA	- 0.69	RXRX

Risk-Adjusted Indicators

There is a big difference between Immunitybio Stock performing well and Immunitybio 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 Immunitybio'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
RCUS	2.97	0.59	0.15	0.50	3.71	(3.55)	6.96	(6.53)	28.33
DNLI	2.67	0.13	0.05	0.17	3.15	(3.19)	6.50	(5.65)	23.32
ETNB	0.08	0.01	0.00	0.77	0.00	0.00	0.27	(0.20)	0.34
COGT	4.94	1.68	0.61	0.53	2.28	(7.06)	5.94	(4.75)	123.47
GLPG	1.22	(0.07)	0.00	(0.19)	0.00	0.00	2.21	(2.54)	10.22
BEAM	3.24	0.04	0.03	0.09	3.28	(3.91)	7.82	(6.23)	25.25
RXRX	4.30	(0.32)	0.00	(0.04)	0.00	0.00	11.43	(7.86)	26.43
LQDA	3.01	0.52	0.13	0.89	3.43	(3.08)	8.00	(4.84)	19.63
AGIO	3.25	(0.30)	0.00	(0.16)	0.00	0.00	5.99	(3.94)	56.88
VRDN	2.08	0.55	0.23	0.91	1.95	(2.61)	5.57	(2.76)	16.00

Immunitybio Corporate Management

Jason JD	General Secretary	Profile
Sandeep MD	Chief Officer	Profile
Helen Luu	Chief Officer	Profile
Leonard MD	Chief Officer	Profile
Jason Liljestrom	General Secretary	Profile
Bruce MD	Senior Affairs	Profile

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