Metagenomi, Common Correlations

MGX Stock

2.07 0.05 2.48%

The current 90-days correlation between Metagenomi, Common Stock and Franklin Wireless Corp is 0.13 (i.e., Average diversification). The correlation of Metagenomi, Common 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.

Metagenomi, Common Correlation With Market

Weak diversification

The correlation between Metagenomi, Common Stock and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Metagenomi, Common Stock and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Metagenomi, Common Stock. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Metagenomi, Stock

0.67	ELAN	Elanco Animal Health Potential Growth	Pair Corr
0.65	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.74	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.63	RDY	Dr Reddys Laboratories	Pair Corr
0.71	TAK	Takeda Pharmaceutical	Pair Corr
0.66	INMB	INmune Bio	Pair Corr
0.61	LTRN	Lantern Pharma	Pair Corr
0.7	REVB	Revelation Biosciences	Pair Corr
0.61	AMGN	Amgen Inc	Pair Corr
0.85	SIGA	SIGA Technologies	Pair Corr

Moving against Metagenomi, Stock

0.85	EWTX	Edgewise Therapeutics	Pair Corr
0.79	BHC	Bausch Health Companies	Pair Corr
0.73	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr
0.72	GILD	Gilead Sciences	Pair Corr
0.7	GANX	Gain Therapeutics	Pair Corr
0.61	ESPR	Esperion Therapeutics	Pair Corr
0.5	HCM	HUTCHMED DRC	Pair Corr
0.44	WAT	Waters	Pair Corr
0.44	BCTXW	BriaCell Therapeutics	Pair Corr
0.42	EBS	Emergent Biosolutions	Pair Corr
0.79	BSX	Boston Scientific Corp	Pair Corr
0.43	CPRX	Catalyst Pharmaceuticals	Pair Corr
0.33	ABT	Abbott Laboratories Fiscal Year End 22nd of January 2025	Pair Corr

Related Correlations Analysis

	TOWTF	NKE	GFS	FKWL	KLIC	HNI	MX	SKX
TOWTF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	TOWTF
NKE	0.0		-0.19	0.52	-0.36	-0.19	0.71	0.61	NKE
GFS	0.0	-0.19		-0.22	0.32	0.57	-0.25	0.08	GFS
FKWL	0.0	0.52	-0.22		0.25	0.22	0.05	0.07	FKWL
KLIC	0.0	-0.36	0.32	0.25		0.62	-0.56	-0.53	KLIC
HNI	0.0	-0.19	0.57	0.22	0.62		-0.42	-0.28	HNI
MX	0.0	0.71	-0.25	0.05	-0.56	-0.42		0.59	MX
SKX	0.0	0.61	0.08	0.07	-0.53	-0.28	0.59		SKX
	TOWTF	NKE	GFS	FKWL	KLIC	HNI	MX	SKX

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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

MX	+ 0.71	NKE
HNI	+ 0.62	KLIC
SKX	+ 0.61	NKE
SKX	+ 0.59	MX
HNI	+ 0.57	GFS
FKWL	+ 0.52	NKE

High negative correlations

MX	- 0.56	KLIC
SKX	- 0.53	KLIC
MX	- 0.42	HNI
KLIC	- 0.36	NKE
SKX	- 0.28	HNI
MX	- 0.25	GFS

Risk-Adjusted Indicators

There is a big difference between Metagenomi, Stock performing well and Metagenomi, Common 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 Metagenomi, Common'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
TOWTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NKE	1.20	(0.15)	0.00	(0.35)	0.00	0.00	2.37	(2.49)	13.61
GFS	2.27	(0.39)	0.00	(0.02)	0.00	0.00	4.70	(4.20)	18.30
FKWL	1.61	(0.07)	(0.04)	0.04	1.90	(1.66)	3.17	(2.85)	15.19
KLIC	1.95	(0.05)	0.02	0.09	2.43	(1.97)	4.74	(3.06)	11.34
HNI	1.21	(0.06)	(0.01)	0.07	1.41	(1.18)	2.45	(2.19)	7.95
MX	1.86	(0.19)	0.00	(0.55)	0.00	0.00	4.02	(3.81)	17.81
SKX	1.56	(0.18)	0.00	(0.30)	0.00	0.00	3.29	(3.41)	11.05

Metagenomi, Common Corporate Management

Pamela MBA	Chief Officer	Profile
Simon MSc	Chief Relations	Profile
Luis Borges	Chief Officer	Profile
Matthew JD	Compliance Legal	Profile

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