Magenta Therapeutics Correlations
| MGTADelisted Stock | USD 0.82 0.03 3.80% |
The current 90-days correlation between Magenta Therapeutics and Assembly Biosciences is 0.07 (i.e., Significant diversification). The correlation of Magenta Therapeutics 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.
Magenta Therapeutics Correlation With Market
Significant diversification
The correlation between Magenta Therapeutics and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magenta Therapeutics and DJI in the same portfolio, assuming nothing else is changed.
Magenta |
Moving together with Magenta Stock
| 0.64 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
Moving against Magenta Stock
| 0.63 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.58 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.56 | TCHH | Trustcash Holdings | PairCorr |
| 0.53 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.47 | HYMTF | Hyundai Motor | PairCorr |
| 0.46 | MSFT | Microsoft | PairCorr |
| 0.44 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.43 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.42 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
| 0.39 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Magenta Stock performing well and Magenta Therapeutics 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 Magenta Therapeutics' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ASMB | 2.91 | 0.05 | 0.00 | 0.25 | 4.40 | 8.49 | 24.80 | |||
| TIL | 9.31 | 1.37 | 0.24 | 0.39 | 6.84 | 20.63 | 105.83 | |||
| NUVB | 3.77 | (0.35) | 0.00 | 0.03 | 4.59 | 9.48 | 21.30 | |||
| ACHL | 2.03 | 0.47 | 0.20 | 0.45 | 1.55 | 3.06 | 38.16 | |||
| NXTC | 2.57 | (0.37) | 0.00 | 1.85 | 0.00 | 5.22 | 21.68 | |||
| SPRO | 1.77 | (0.30) | 0.00 | (0.54) | 0.00 | 3.79 | 14.92 | |||
| NLTX | 2.25 | (0.17) | 0.00 | 1.69 | 0.00 | 4.05 | 27.84 | |||
| CTMX | 2.68 | (0.45) | 0.00 | (0.24) | 0.00 | 5.36 | 20.61 |
Magenta Therapeutics Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Magenta Therapeutics stock to make a market-neutral strategy. Peer analysis of Magenta Therapeutics could also be used in its relative valuation, which is a method of valuing Magenta Therapeutics by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Magenta Therapeutics Corporate Management
| Caren Deardorf | Chief Officer | Profile | |
| David Nichols | Chief Officer | Profile | |
| Jason DPHIL | CEO, CoFounder | Profile | |
| Catherine Monaghan | Head Operations | Profile | |
| Lisa Olson | Head Officer | Profile | |
| MBA JD | Chief Treasurer | Profile | |
| Jim Haney | Director Relations | Profile |
Still Interested in Magenta Therapeutics?
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