OmniAb Correlations

OABIW Stock

USD 0.28 0.02 6.67%

The current 90-days correlation between OmniAb Inc and PennantPark Floating Rate is -0.32 (i.e., Very good 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. If the correlation is 0, the equities are not correlated; they are entirely random.

OmniAb Correlation With Market

Good diversification

The correlation between OmniAb Inc and DJI is -0.02 (i.e., Good 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 gross domestic product.

Moving against OmniAb Stock

0.39	MSFT	Microsoft	Pair Corr
0.34	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Related Correlations Analysis

	MS	PFLT	NMR	FRHC	CNLFF	KRG	SEIC	BRID
MS		-0.03	0.31	0.95	0.76	0.7	0.96	-0.37	MS
PFLT	-0.03		-0.54	0.01	0.35	-0.1	-0.07	-0.45	PFLT
NMR	0.31	-0.54		0.17	-0.2	0.43	0.25	0.39	NMR
FRHC	0.95	0.01	0.17		0.75	0.71	0.95	-0.52	FRHC
CNLFF	0.76	0.35	-0.2	0.75		0.32	0.74	-0.54	CNLFF
KRG	0.7	-0.1	0.43	0.71	0.32		0.74	-0.38	KRG
SEIC	0.96	-0.07	0.25	0.95	0.74	0.74		-0.43	SEIC
BRID	-0.37	-0.45	0.39	-0.52	-0.54	-0.38	-0.43		BRID
	MS	PFLT	NMR	FRHC	CNLFF	KRG	SEIC	BRID

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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

SEIC	+ 0.96	MS
FRHC	+ 0.95	MS
SEIC	+ 0.95	FRHC
CNLFF	+ 0.76	MS
CNLFF	+ 0.75	FRHC
SEIC	+ 0.74	CNLFF

High negative correlations

BRID	- 0.54	CNLFF
NMR	- 0.54	PFLT
BRID	- 0.52	FRHC
BRID	- 0.45	PFLT
BRID	- 0.43	SEIC
BRID	- 0.38	KRG

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
MS	1.29	0.50	0.25	(1.53)	0.87	(1.57)	3.08	(2.30)	13.93
PFLT	0.61	0.00	(0.10)	0.13	0.99	(0.57)	1.09	(1.13)	5.12
NMR	1.60	0.05	(0.02)	0.35	2.09	(1.64)	3.43	(2.69)	8.85
FRHC	1.38	0.32	0.13	0.93	1.41	(1.42)	2.66	(2.98)	9.39
CNLFF	0.05	0.02	0.00	(1.32)	0.00	0.00	0.00	0.00	1.03
KRG	0.79	0.08	0.01	0.31	0.81	(0.84)	1.60	(1.50)	4.33
SEIC	0.80	0.18	0.17	0.34	0.61	(0.93)	1.57	(1.56)	7.23
BRID	2.40	(0.26)	0.00	(7.25)	0.00	0.00	4.52	(7.02)	32.90

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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