Incyte Correlations

INCY Stock

USD 110.57 3.91 3.67%

The current 90-days correlation between Incyte and United Therapeutics is 0.09 (i.e., Significant diversification). The correlation of Incyte 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.

Incyte Correlation With Market

Modest diversification

The correlation between Incyte and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Incyte and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Incyte Stock

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

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

Moving together with Incyte Stock

0.66	GILD	Gilead Sciences	Pair Corr
0.83	AMGN	Amgen Inc	Pair Corr
0.63	MMM	3M Company	Pair Corr
0.66	AXP	American Express	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.62	KO	Coca Cola	Pair Corr
0.62	XOM	Exxon Mobil Corp	Pair Corr
0.61	CSCO	Cisco Systems	Pair Corr
0.63	IBM	International Business	Pair Corr

Moving against Incyte Stock

0.69	HPQ	HP Inc	Pair Corr
0.67	HD	Home Depot Sell-off Trend	Pair Corr
0.6	MSFT	Microsoft	Pair Corr
0.41	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	UTHR	GMAB	RPRX	DGX	ZBH	WST	WAT	BIIB	ILMN	THC
UTHR		0.5	0.46	-0.3	-0.56	-0.22	0.5	0.77	0.72	-0.09	UTHR
GMAB	0.5		-0.09	-0.04	-0.02	-0.32	-0.03	0.27	0.14	-0.12	GMAB
RPRX	0.46	-0.09		-0.01	-0.65	0.15	0.9	0.78	0.84	0.25	RPRX
DGX	-0.3	-0.04	-0.01		0.13	-0.24	0.07	-0.08	-0.23	0.02	DGX
ZBH	-0.56	-0.02	-0.65	0.13		0.39	-0.59	-0.58	-0.7	0.4	ZBH
WST	-0.22	-0.32	0.15	-0.24	0.39		0.14	-0.01	0.01	0.64	WST
WAT	0.5	-0.03	0.9	0.07	-0.59	0.14		0.89	0.88	0.26	WAT
BIIB	0.77	0.27	0.78	-0.08	-0.58	-0.01	0.89		0.9	0.18	BIIB
ILMN	0.72	0.14	0.84	-0.23	-0.7	0.01	0.88	0.9		0.04	ILMN
THC	-0.09	-0.12	0.25	0.02	0.4	0.64	0.26	0.18	0.04		THC
	UTHR	GMAB	RPRX	DGX	ZBH	WST	WAT	BIIB	ILMN	THC

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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

WAT	+ 0.9	RPRX
ILMN	+ 0.9	BIIB
BIIB	+ 0.89	WAT
ILMN	+ 0.88	WAT
ILMN	+ 0.84	RPRX
BIIB	+ 0.78	RPRX

High negative correlations

ILMN	- 0.7	ZBH
ZBH	- 0.65	RPRX
WAT	- 0.59	ZBH
BIIB	- 0.58	ZBH
ZBH	- 0.56	UTHR
WST	- 0.32	GMAB

Risk-Adjusted Indicators

There is a big difference between Incyte Stock performing well and Incyte 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 Incyte'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
UTHR	1.16	0.19	0.12	0.85	0.97	(1.32)	2.19	(1.79)	11.63
GMAB	1.45	0.05	0.00	0.34	2.15	(1.43)	3.39	(3.07)	12.41
RPRX	1.07	0.19	0.10	0.47	1.34	(1.20)	2.13	(2.05)	12.26
DGX	0.96	(0.04)	0.00	(0.03)	0.00	0.00	1.94	(1.96)	5.64
ZBH	1.31	(0.15)	0.00	(0.16)	0.00	0.00	3.30	(2.20)	18.60
WST	1.46	(0.02)	(0.01)	0.05	1.61	(1.61)	2.56	(2.89)	14.90
WAT	1.19	0.24	0.22	0.34	0.84	(1.54)	3.25	(1.79)	8.38
BIIB	1.31	0.21	0.12	0.46	1.32	(1.48)	2.91	(2.41)	7.08
ILMN	2.18	0.64	0.31	3.67	1.46	(2.68)	4.23	(2.83)	27.65
THC	1.58	(0.05)	(0.03)	0.01	2.10	(1.60)	3.15	(3.00)	14.05

Incyte Corporate Management

Mr MD	Head VP	Profile
Sheila JD	General VP	Profile
Alexis Smith	Vice Relations	Profile
Thomas Tray	Chief Finance	Profile
Pamela Murphy	Vice Communications	Profile
Patrick Mayes	Vice Research	Profile
Paula Swain	Executive Resources	Profile

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