Pardes Biosciences Correlations
| PRDSDelisted Stock | USD 2.14 0.01 0.47% |
The current 90-days correlation between Pardes Biosciences and Champions Oncology is -0.06 (i.e., Good diversification). The correlation of Pardes Biosciences 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.
Pardes Biosciences Correlation With Market
Good diversification
The correlation between Pardes Biosciences and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pardes Biosciences and DJI in the same portfolio, assuming nothing else is changed.
Pardes |
Moving against Pardes Stock
| 0.62 | TCHH | Trustcash Holdings | PairCorr |
| 0.6 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.45 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.42 | SHG | Shinhan Financial | PairCorr |
| 0.35 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.32 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
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Risk-Adjusted Indicators
There is a big difference between Pardes Stock performing well and Pardes Biosciences 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 Pardes Biosciences' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| STTK | 4.97 | (1.26) | 0.00 | (2.27) | 0.00 | 7.03 | 52.02 | |||
| ELYM | 3.92 | (0.89) | 0.00 | (4.85) | 0.00 | 6.21 | 34.87 | |||
| CSBR | 3.29 | 0.04 | (0.02) | (0.08) | 3.87 | 6.23 | 22.49 | |||
| IPSC | 3.83 | (0.75) | 0.00 | (0.15) | 0.00 | 6.21 | 23.66 | |||
| NLTX | 2.25 | (0.19) | 0.00 | (1.83) | 0.00 | 4.05 | 27.84 | |||
| TIL | 9.39 | 1.56 | 0.25 | 0.40 | 6.84 | 20.63 | 105.83 | |||
| ACHL | 2.04 | 0.63 | 0.21 | 7.11 | 1.56 | 3.06 | 38.16 | |||
| NXTC | 2.54 | (0.33) | 0.00 | (7.21) | 0.00 | 5.22 | 21.68 | |||
| ASMB | 2.91 | 0.04 | 0.00 | 0.19 | 4.40 | 8.49 | 24.80 | |||
| CTMX | 2.62 | (0.64) | 0.00 | (0.45) | 0.00 | 5.00 | 20.61 |
Pardes Biosciences Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Pardes Biosciences stock to make a market-neutral strategy. Peer analysis of Pardes Biosciences could also be used in its relative valuation, which is a method of valuing Pardes Biosciences by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Pardes Biosciences Corporate Management
| Elizabeth JD | Gen Sec | Profile | |
| Heidi CPA | Chief Officer | Profile | |
| Dave Kuo | VP HR | Profile | |
| Uri MD | Founder Director | Profile | |
| Valdas Jurkauskas | VP Operations | Profile | |
| Thomas Wiggans | CEO Chairman | Profile | |
| Patrick OBrien | VP Relations | Profile |
Still Interested in Pardes Biosciences?
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