Metacrine Correlations

Summary

MTCRDelisted Stock

USD 0.49 0.00 0.00%

The current 90-days correlation between Metacrine and Magenta Therapeutics is 0.12 (i.e., Average diversification). The correlation of Metacrine 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.

Metacrine Correlation With Market

Very good diversification

The correlation between Metacrine and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Metacrine and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Metacrine Stock

0.68	ZM	Zoom Video Communications Earnings Call This Week	Pair Corr
0.75	GM	General Motors Aggressive Push	Pair Corr
0.64	MRVL	Marvell Technology Earnings Call This Week	Pair Corr

Moving against Metacrine Stock

0.56	CSLLY	CSL	Pair Corr
0.53	CMXHF	CSL Limited	Pair Corr
0.53	REGN	Regeneron Pharmaceuticals	Pair Corr
0.4	NVO	Novo Nordisk AS	Pair Corr
0.4	NONOF	Novo Nordisk AS	Pair Corr
0.34	QSAM	Qsam Biosciences	Pair Corr

Related Correlations Analysis

	MGTA	TARA	TCON	STSA	NLTX	CTMX	ASMB	TIL	NUVB	VCNX
MGTA		0.59	0.29	0.48	-0.14	-0.5	-0.18	-0.69	0.36	0.13	MGTA
TARA	0.59		-0.14	0.51	-0.15	-0.74	0.02	-0.39	0.07	-0.09	TARA
TCON	0.29	-0.14		-0.21	0.22	0.37	-0.24	-0.44	0.51	0.54	TCON
STSA	0.48	0.51	-0.21		-0.58	-0.63	-0.01	-0.53	-0.31	-0.52	STSA
NLTX	-0.14	-0.15	0.22	-0.58		0.57	0.21	0.17	0.46	0.54	NLTX
CTMX	-0.5	-0.74	0.37	-0.63	0.57		0.19	0.28	0.3	0.43	CTMX
ASMB	-0.18	0.02	-0.24	-0.01	0.21	0.19		0.18	0.22	0.2	ASMB
TIL	-0.69	-0.39	-0.44	-0.53	0.17	0.28	0.18		-0.23	-0.14	TIL
NUVB	0.36	0.07	0.51	-0.31	0.46	0.3	0.22	-0.23		0.83	NUVB
VCNX	0.13	-0.09	0.54	-0.52	0.54	0.43	0.2	-0.14	0.83		VCNX
	MGTA	TARA	TCON	STSA	NLTX	CTMX	ASMB	TIL	NUVB	VCNX

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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

VCNX	+ 0.83	NUVB
TARA	+ 0.59	MGTA
CTMX	+ 0.57	NLTX
VCNX	+ 0.54	TCON
VCNX	+ 0.54	NLTX
STSA	+ 0.51	TARA

High negative correlations

CTMX	- 0.74	TARA
TIL	- 0.69	MGTA
CTMX	- 0.63	STSA
NLTX	- 0.58	STSA
TIL	- 0.53	STSA
VCNX	- 0.52	STSA

Risk-Adjusted Indicators

There is a big difference between Metacrine Stock performing well and Metacrine 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 Metacrine'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
MGTA	2.62	0.19	0.00	(0.19)	3.40	(3.33)	5.88	(4.29)	16.99
TARA	3.03	0.23	0.04	7.52	2.96	(3.96)	7.26	(4.98)	19.48
TCON	6.84	(1.89)	0.00	(4.58)	0.00	0.00	19.59	(17.77)	52.05
STSA	3.39	0.58	0.09	(0.79)	3.54	(4.82)	5.71	(7.79)	70.12
NLTX	2.25	(0.22)	0.00	(0.55)	0.00	0.00	4.05	(3.53)	27.84
CTMX	2.58	(0.53)	0.00	(0.35)	0.00	0.00	5.00	(5.22)	20.61
ASMB	2.91	0.09	0.00	0.31	4.46	(2.82)	8.49	(5.34)	24.80
TIL	9.42	1.47	0.25	0.40	6.84	(12.97)	20.63	(10.89)	105.83
NUVB	3.76	(0.36)	0.00	0.03	4.59	(4.00)	9.48	(8.36)	21.30
VCNX	6.00	(0.21)	0.00	(0.22)	0.00	0.00	11.11	(14.00)	54.95

View Metacrine Related Equities

Magenta Therapeutics Protara Therapeutics TRACON Pharmaceuticals Satsuma Pharmaceuticals Neoleukin Therapeutics CytomX Therapeutics Assembly Biosciences Instil Bio Nuvation Bio Vaccinex Monopar Therapeutics Miromatrix Medical Surrozen Anebulo Pharmaceuticals Zivo Bioscience

Risk & Return

Correlation

Metacrine Corporate Management

Patricia Millican	Chief Officer	Profile
Theresa Lowry	VP HR	Profile
Michael York	Chief Officer	Profile
MHS MD	CEO Pres	Profile

Still Interested in Metacrine?

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