Prothena Plc Correlations

PRTA Stock

USD 14.53 0.75 5.44%

The current 90-days correlation between Prothena plc and Seres Therapeutics is 0.28 (i.e., Modest diversification). The correlation of Prothena Plc 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.

Prothena Plc Correlation With Market

Very weak diversification

The correlation between Prothena plc and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prothena plc 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 Prothena plc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For information on how to trade Prothena Stock refer to our How to Trade Prothena Stock guide.

Moving together with Prothena Stock

0.72	ME	23Andme Holding	Pair Corr
0.76	VALN	Valneva SE ADR	Pair Corr
0.67	VCNX	Vaccinex	Pair Corr
0.76	DRMA	Dermata Therapeutics	Pair Corr
0.68	DRRX	Durect	Pair Corr
0.83	DTIL	Precision BioSciences	Pair Corr
0.81	VINC	Vincerx Pharma	Pair Corr
0.63	VRAX	Virax Biolabs Group	Pair Corr
0.78	VRCA	Verrica Pharmaceuticals	Pair Corr
0.67	VRPX	Virpax Pharmaceuticals	Pair Corr
0.63	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.74	VTGN	VistaGen Therapeutics	Pair Corr

Moving against Prothena Stock

0.63	DRUG	Bright Minds Biosciences	Pair Corr
0.61	SABSW	SAB Biotherapeutics	Pair Corr
0.58	VCYT	Veracyte	Pair Corr
0.48	VERA	Vera Therapeutics	Pair Corr
0.42	DMAC	DiaMedica Therapeutics	Pair Corr
0.34	VANI	Vivani Medical	Pair Corr
0.33	VCEL	Vericel Corp Ord	Pair Corr
0.74	VRNA	Verona Pharma PLC	Pair Corr
0.67	VSTM	Verastem Trending	Pair Corr
0.5	VTRS	Viatris	Pair Corr
0.39	DVAX	Dynavax Technologies	Pair Corr
0.34	VRDN	Viridian Therapeutics	Pair Corr
0.32	VTVT	vTv Therapeutics	Pair Corr

Related Correlations Analysis

	SCPH	MIST	ONCY	MCRB	LIFE	ETNB	MDGL	PLRX	ACLX	STOK
SCPH		-0.59	-0.18	0.64	0.27	-0.09	-0.54	-0.21	-0.56	0.76	SCPH
MIST	-0.59		-0.29	-0.25	-0.11	0.58	0.85	0.26	0.63	-0.23	MIST
ONCY	-0.18	-0.29		-0.46	-0.08	-0.06	-0.23	0.44	0.27	-0.25	ONCY
MCRB	0.64	-0.25	-0.46		0.1	-0.18	-0.3	-0.35	-0.42	0.38	MCRB
LIFE	0.27	-0.11	-0.08	0.1		-0.03	-0.02	-0.3	-0.07	0.3	LIFE
ETNB	-0.09	0.58	-0.06	-0.18	-0.03		0.76	0.68	0.41	0.34	ETNB
MDGL	-0.54	0.85	-0.23	-0.3	-0.02	0.76		0.41	0.49	-0.09	MDGL
PLRX	-0.21	0.26	0.44	-0.35	-0.3	0.68	0.41		0.55	0.02	PLRX
ACLX	-0.56	0.63	0.27	-0.42	-0.07	0.41	0.49	0.55		-0.35	ACLX
STOK	0.76	-0.23	-0.25	0.38	0.3	0.34	-0.09	0.02	-0.35		STOK
	SCPH	MIST	ONCY	MCRB	LIFE	ETNB	MDGL	PLRX	ACLX	STOK

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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

MDGL	+ 0.85	MIST
STOK	+ 0.76	SCPH
MDGL	+ 0.76	ETNB
PLRX	+ 0.68	ETNB
MCRB	+ 0.64	SCPH
ACLX	+ 0.63	MIST

High negative correlations

MIST	- 0.59	SCPH
ACLX	- 0.56	SCPH
MDGL	- 0.54	SCPH
MCRB	- 0.46	ONCY
ACLX	- 0.42	MCRB
STOK	- 0.35	ACLX

Risk-Adjusted Indicators

There is a big difference between Prothena Stock performing well and Prothena Plc 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 Prothena Plc'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
SCPH	2.75	(0.63)	0.00	(0.28)	0.00	0.00	4.30	(7.09)	20.70
MIST	2.00	0.27	0.13	0.27	1.93	(2.81)	7.19	(2.72)	18.66
ONCY	3.46	0.06	(0.03)	0.01	3.55	(4.98)	7.83	(6.67)	36.56
MCRB	5.09	0.30	0.04	0.76	5.68	(6.15)	10.84	(9.78)	28.84
LIFE	2.57	0.20	0.10	0.21	2.62	(3.23)	6.45	(5.29)	28.98
ETNB	2.77	(0.33)	0.00	(0.02)	0.00	0.00	5.01	(7.52)	27.43
MDGL	2.72	0.44	0.15	1.31	2.20	(3.66)	5.17	(3.96)	30.27
PLRX	2.98	0.01	0.03	0.11	3.22	(3.29)	6.15	(5.67)	24.35
ACLX	2.56	0.21	0.10	0.20	2.98	(2.76)	6.65	(6.40)	15.13
STOK	2.62	(0.44)	0.00	(0.24)	0.00	0.00	4.60	(6.99)	21.35

Prothena Plc Corporate Management

Hideki MD	Chief Officer	Profile
CPA CPA	Chief Controller	Profile
Jennifer Zibuda	Director Communication	Profile
Brandon Smith	Chief Officer	Profile
Wagner Zago	Chief Scientific Officer	Profile
Carol Karp	Chief Regulatory Officer	Profile
David Ford	Chief Officer	Profile

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