OmniAb Correlations

OABI Stock

USD 3.90 0.12 3.17%

The current 90-days correlation between OmniAb Inc and Ideaya Biosciences is 0.31 (i.e., Weak diversification). The correlation of OmniAb 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.

OmniAb Correlation With Market

Weak diversification

The correlation between OmniAb Inc and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OmniAb Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OmniAb Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with OmniAb Stock

0.62	RGNX	Regenxbio	Pair Corr
0.67	AFMD	Affimed NV	Pair Corr
0.63	STOK	Stoke Therapeutics	Pair Corr

Moving against OmniAb Stock

0.33	MNOV	MediciNova	Pair Corr
0.32	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr
0.32	ESLAW	Estrella Immunopharma	Pair Corr
0.36	ABEO	Abeona Therapeutics	Pair Corr

Related Correlations Analysis

	LEGN	VRNA	IDYA	ITOS	BCAB	PASG	PMVP	IKNA	OLMA
LEGN		-0.83	0.83	0.82	0.01	0.66	-0.51	-0.2	0.4	LEGN
VRNA	-0.83		-0.77	-0.74	0.15	-0.61	0.67	0.29	-0.47	VRNA
IDYA	0.83	-0.77		0.93	0.0	0.78	-0.31	-0.09	0.55	IDYA
ITOS	0.82	-0.74	0.93		-0.12	0.72	-0.34	-0.16	0.33	ITOS
BCAB	0.01	0.15	0.0	-0.12		0.03	0.33	0.21	0.45	BCAB
PASG	0.66	-0.61	0.78	0.72	0.03		-0.27	-0.03	0.57	PASG
PMVP	-0.51	0.67	-0.31	-0.34	0.33	-0.27		0.37	-0.13	PMVP
IKNA	-0.2	0.29	-0.09	-0.16	0.21	-0.03	0.37		0.04	IKNA
OLMA	0.4	-0.47	0.55	0.33	0.45	0.57	-0.13	0.04		OLMA
	LEGN	VRNA	IDYA	ITOS	BCAB	PASG	PMVP	IKNA	OLMA

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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

ITOS	+ 0.93	IDYA
IDYA	+ 0.83	LEGN
ITOS	+ 0.82	LEGN
PASG	+ 0.78	IDYA
PASG	+ 0.72	ITOS
PMVP	+ 0.67	VRNA

High negative correlations

VRNA	- 0.83	LEGN
IDYA	- 0.77	VRNA
ITOS	- 0.74	VRNA
PASG	- 0.61	VRNA
PMVP	- 0.51	LEGN
OLMA	- 0.47	VRNA

Risk-Adjusted Indicators

There is a big difference between OmniAb Stock performing well and OmniAb 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 OmniAb'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
LEGN	2.34	(0.46)	0.00	(0.53)	0.00	0.00	4.29	(5.82)	17.18
VRNA	2.20	0.58	0.22	1.76	1.79	(2.56)	7.31	(3.34)	14.37
IDYA	2.22	(0.72)	0.00	(0.35)	0.00	0.00	4.15	(5.09)	15.21
ITOS	2.66	(1.12)	0.00	(0.73)	0.00	0.00	4.27	(4.52)	33.24
BCAB	4.40	(0.15)	(0.02)	0.02	4.72	(5.62)	12.86	(7.59)	31.41
PASG	5.07	0.03	(0.01)	0.20	5.92	(5.86)	10.00	(9.88)	25.50
PMVP	1.55	(0.03)	(0.03)	0.07	1.99	(1.87)	3.75	(3.64)	13.98
IKNA	0.90	(0.11)	0.00	(0.09)	0.00	0.00	1.80	(1.74)	5.87
OLMA	2.91	(0.41)	0.00	(0.06)	0.00	0.00	6.17	(5.89)	19.19

OmniAb Corporate Management

Cia McCaffrey	Vice Talent	Profile
Donna CPA	Senior Controller	Profile
Bill Harriman	Senior Discovery	Profile
Douglas Krafte	Senior Head	Profile
MarieCecile DVM	Senior Genetics	Profile
Charles JD	Chief Secretary	Profile

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