Passage Bio Correlations

PASG Stock

USD 12.87 1.41 9.87%

The current 90-days correlation between Passage Bio and Lisata Therapeutics is 0.17 (i.e., Average diversification). The correlation of Passage Bio 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.

Passage Bio Correlation With Market

Average diversification

The correlation between Passage Bio and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Passage Bio and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Passage Stock

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

For more detail on how to invest in Passage Stock please use our How to Invest in Passage Bio guide.

Moving together with Passage Stock

0.66	VERA	Vera Therapeutics	Pair Corr
0.76	DRUG	Bright Minds Biosciences	Pair Corr
0.87	DRTS	Alpha Tau Medical	Pair Corr
0.8	0P6S	Bayer AG NA	Pair Corr
0.81	DVAX	Dynavax Technologies	Pair Corr
0.77	VNDA	Vanda Pharmaceuticals	Pair Corr
0.7	VRTX	Vertex Pharmaceuticals	Pair Corr

Moving against Passage Stock

0.61	DRMA	Dermata Therapeutics	Pair Corr
0.55	VANI	Vivani Medical	Pair Corr
0.54	CMB	Cambium Bio	Pair Corr
0.38	AVH	Avita Medical	Pair Corr
0.37	RAC	Race Oncology	Pair Corr
0.8	DWTX	Dogwood Therapeutics	Pair Corr
0.67	PYC	Physiomics Plc	Pair Corr
0.64	DTIL	Precision BioSciences	Pair Corr
0.57	VKTX	Viking Therapeutics	Pair Corr
0.44	VIVS	VivoSim Labs Symbol Change	Pair Corr
0.41	DYAI	Dyadic International	Pair Corr
0.36	VINC	Vincerx Pharma Common	Pair Corr
0.76	BSFA	BSF Enterprise Plc	Pair Corr
0.72	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.71	VTGN	VistaGen Therapeutics	Pair Corr
0.64	MRVL	Marvel Biosciences Corp	Pair Corr
0.55	VRAX	Virax Biolabs Group	Pair Corr
0.5	VSTM	Verastem	Pair Corr
0.5	EDIT	Editas Medicine	Pair Corr
0.44	EDSA	Edesa Biotech	Pair Corr

Related Correlations Analysis

	NCNA	MTVA	LSTA	ALLR	GDTC	ENLV	CING	CLGN	XCUR	CASI
NCNA		0.51	0.44	0.7	0.62	0.6	-0.3	0.63	-0.12	0.57	NCNA
MTVA	0.51		0.52	0.48	0.71	0.34	-0.56	0.47	-0.32	0.48	MTVA
LSTA	0.44	0.52		0.79	0.64	0.58	-0.22	0.58	-0.35	0.75	LSTA
ALLR	0.7	0.48	0.79		0.7	0.64	-0.2	0.69	-0.37	0.83	ALLR
GDTC	0.62	0.71	0.64	0.7		0.67	-0.75	0.87	-0.64	0.82	GDTC
ENLV	0.6	0.34	0.58	0.64	0.67		-0.41	0.79	-0.4	0.68	ENLV
CING	-0.3	-0.56	-0.22	-0.2	-0.75	-0.41		-0.66	0.66	-0.41	CING
CLGN	0.63	0.47	0.58	0.69	0.87	0.79	-0.66		-0.66	0.79	CLGN
XCUR	-0.12	-0.32	-0.35	-0.37	-0.64	-0.4	0.66	-0.66		-0.61	XCUR
CASI	0.57	0.48	0.75	0.83	0.82	0.68	-0.41	0.79	-0.61		CASI
	NCNA	MTVA	LSTA	ALLR	GDTC	ENLV	CING	CLGN	XCUR	CASI

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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

CLGN	+ 0.87	GDTC
CASI	+ 0.83	ALLR
CASI	+ 0.82	GDTC
ALLR	+ 0.79	LSTA
CLGN	+ 0.79	ENLV
CASI	+ 0.79	CLGN

High negative correlations

CING	- 0.75	GDTC
XCUR	- 0.66	CLGN
CLGN	- 0.66	CING
XCUR	- 0.64	GDTC
CASI	- 0.61	XCUR
CING	- 0.56	MTVA

Risk-Adjusted Indicators

There is a big difference between Passage Stock performing well and Passage Bio 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 Passage Bio'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
NCNA	3.49	(0.77)	0.00	(0.49)	0.00	0.00	6.97	(7.87)	16.72
MTVA	7.28	(1.42)	0.00	1.89	0.00	0.00	11.60	(20.10)	79.95
LSTA	2.72	(0.17)	0.00	(0.11)	0.00	0.00	5.38	(5.26)	31.49
ALLR	3.63	(0.41)	0.00	(0.16)	0.00	0.00	7.07	(7.48)	19.82
GDTC	3.83	(1.05)	0.00	(1.00)	0.00	0.00	7.05	(9.33)	40.42
ENLV	3.55	(0.18)	0.00	(0.28)	0.00	0.00	8.57	(7.53)	24.21
CING	3.14	0.54	0.13	0.35	4.15	(3.32)	7.46	(6.53)	20.19
CLGN	3.27	(0.70)	0.00	(0.95)	0.00	0.00	7.33	(7.84)	20.81
XCUR	5.66	0.81	0.08	(0.50)	7.40	(6.92)	21.22	(9.76)	63.80
CASI	3.85	(0.93)	0.00	(0.41)	0.00	0.00	5.88	(7.69)	32.11

Passage Bio Corporate Management

Sue Browne	Senior Development	Profile
Simona King	CFO Sec	Profile
JD Esq	General Secretary	Profile
Gregory Fuest	Vice Marketing	Profile
MSc MBA	Chief Officer	Profile
Kathleen Borthwick	Principal Finance	Profile

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