Immunovant Correlations

IMVT Stock

USD 25.22 0.72 2.78%

The current 90-days correlation between Immunovant and Crinetics Pharmaceuticals is 0.32 (i.e., Weak diversification). The correlation of Immunovant 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.

Immunovant Correlation With Market

Poor diversification

The correlation between Immunovant and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Immunovant and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Immunovant Stock

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

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

Moving together with Immunovant Stock

0.86	IMMP	Immutep Ltd ADR	Pair Corr
0.63	MRKR	Marker Therapeutics	Pair Corr
0.68	AVE	Avecho Biotechnology	Pair Corr
0.7	ANNX	Annexon	Pair Corr
0.63	SLDB	Solid Biosciences LLC	Pair Corr
0.78	CADL	Candel Therapeutics	Pair Corr

Moving against Immunovant Stock

0.85	IMRN	Immuron Ltd ADR	Pair Corr
0.69	GNLX	Genelux Common	Pair Corr
0.68	ABP	Abpro Holdings	Pair Corr
0.63	DWTX	Dogwood Therapeutics	Pair Corr
0.61	KURA	Kura Oncology	Pair Corr
0.58	QSI	QuantumSi	Pair Corr
0.55	EDIT	Editas Medicine Earnings Call This Week	Pair Corr
0.55	EVGN	Evogene	Pair Corr
0.55	LYRA	Lyra Therapeutics	Pair Corr
0.39	JUMP	Leveljump Healthcare Corp	Pair Corr
0.65	ACXP	Acurx Pharmaceuticals LLC	Pair Corr
0.6	MBIO	Mustang Bio	Pair Corr
0.49	MREO	Mereo BioPharma Group	Pair Corr
0.41	PRQR	ProQR Therapeutics Earnings Call This Week	Pair Corr
0.35	GSD	Devonian Health Group Split	Pair Corr

Related Correlations Analysis

	CRNX	VKTX	KYMR	AKRO	NAMS	PRAX	DYN	ACAD	RARE	SLNO
CRNX		-0.42	0.34	0.71	-0.68	0.73	-0.48	0.64	-0.51	-0.4	CRNX
VKTX	-0.42		-0.17	-0.67	0.64	-0.66	0.62	0.08	0.72	0.82	VKTX
KYMR	0.34	-0.17		0.62	-0.36	0.62	-0.03	0.55	0.04	0.09	KYMR
AKRO	0.71	-0.67	0.62		-0.73	0.91	-0.51	0.52	-0.61	-0.49	AKRO
NAMS	-0.68	0.64	-0.36	-0.73		-0.82	0.72	-0.38	0.64	0.63	NAMS
PRAX	0.73	-0.66	0.62	0.91	-0.82		-0.6	0.48	-0.67	-0.56	PRAX
DYN	-0.48	0.62	-0.03	-0.51	0.72	-0.6		0.08	0.72	0.76	DYN
ACAD	0.64	0.08	0.55	0.52	-0.38	0.48	0.08		-0.02	0.26	ACAD
RARE	-0.51	0.72	0.04	-0.61	0.64	-0.67	0.72	-0.02		0.82	RARE
SLNO	-0.4	0.82	0.09	-0.49	0.63	-0.56	0.76	0.26	0.82		SLNO
	CRNX	VKTX	KYMR	AKRO	NAMS	PRAX	DYN	ACAD	RARE	SLNO

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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

PRAX	+ 0.91	AKRO
SLNO	+ 0.82	VKTX
SLNO	+ 0.82	RARE
SLNO	+ 0.76	DYN
PRAX	+ 0.73	CRNX
RARE	+ 0.72	VKTX

High negative correlations

PRAX	- 0.82	NAMS
NAMS	- 0.73	AKRO
NAMS	- 0.68	CRNX
RARE	- 0.67	PRAX
AKRO	- 0.67	VKTX
PRAX	- 0.66	VKTX

Risk-Adjusted Indicators

There is a big difference between Immunovant Stock performing well and Immunovant 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 Immunovant'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
CRNX	2.27	0.13	0.03	0.33	2.61	(2.68)	3.94	(5.06)	21.65
VKTX	2.70	(0.52)	0.00	(0.17)	0.00	0.00	7.49	(6.14)	22.96
KYMR	2.84	0.55	0.16	1.40	2.56	(3.29)	4.43	(4.46)	49.42
AKRO	1.14	0.32	0.20	2.74	0.63	(1.38)	3.29	(2.12)	16.73
NAMS	2.37	(0.18)	0.00	(0.09)	0.00	0.00	4.72	(4.89)	13.34
PRAX	3.77	1.09	0.26	7.39	3.33	(4.54)	9.33	(5.67)	36.21
DYN	3.03	(0.10)	0.00	(0.09)	0.00	0.00	7.01	(5.89)	26.40
ACAD	1.72	(0.02)	(0.01)	0.07	1.81	(1.91)	3.35	(2.48)	12.09
RARE	2.99	(0.31)	0.00	(0.09)	0.00	0.00	7.73	(4.09)	51.23
SLNO	2.67	(0.19)	0.00	(0.06)	0.00	0.00	5.40	(4.39)	15.78

Immunovant Corporate Management

Jay Stout	Chief Officer	Profile
Mark Levine	Chief Secretary	Profile
Lauren MBA	Vice Marketing	Profile
JD Esq	Chief Secretary	Profile
Becky Merlina	Senior Quality	Profile
Dr MS	Chief Officer	Profile
Eva MBA	Chief Officer	Profile

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