Prothena Plc Correlations

PRTA Stock

USD 8.88 0.09 1.00%

The current 90-days correlation between Prothena plc and Kalvista Pharmaceuticals is 0.37 (i.e., Weak 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

Excellent diversification

The correlation between Prothena plc and DJI is -0.68 (i.e., Excellent 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.

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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 population.

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

Moving together with Prothena Stock

0.74	VCYT	Veracyte	Pair Corr
0.76	DRMA	Dermata Therapeutics	Pair Corr
0.83	DTIL	Precision BioSciences	Pair Corr

Moving against Prothena Stock

0.72	EQ	Equillium	Pair Corr
0.61	GXEA	Galapagos NV	Pair Corr
0.45	8VP1	AVRICORE HEALTH INC	Pair Corr
0.43	VALN	Valneva SE ADR	Pair Corr
0.35	CMB	Cambium Bio	Pair Corr
0.76	DRTS	Alpha Tau Medical Earnings Call Next Week	Pair Corr
0.7	0P6S	Bayer AG NA Earnings Call This Week	Pair Corr
0.56	6C1	CytomX Therapeutics Earnings Call Next Week	Pair Corr
0.37	DRUG	Bright Minds Biosciences	Pair Corr
0.37	PYC	Physiomics Plc Earnings Call This Week	Pair Corr
0.35	DSGN	Design Therapeutics	Pair Corr
0.31	VERA	Vera Therapeutics	Pair Corr
0.64	ALA	Arovella Therapeutics	Pair Corr
0.63	VNDA	Vanda Pharmaceuticals Trending	Pair Corr
0.58	DVAX	Dynavax Technologies	Pair Corr
0.42	HDP1	Arrowhead Pharmaceuticals	Pair Corr
0.4	VINC	Vincerx Pharma Common	Pair Corr
0.32	NANO	Nanobiotix SA	Pair Corr

Related Correlations Analysis

	KALV	BCYC	FDMT	VSTM	OLMA	VTYX	NMRA	CRVS	GOSS	RIGL
KALV		0.23	-0.23	-0.17	0.4	0.03	-0.07	0.04	-0.01	-0.18	KALV
BCYC	0.23		0.15	0.67	0.66	-0.63	-0.71	-0.5	0.74	0.69	BCYC
FDMT	-0.23	0.15		0.64	0.26	-0.46	0.21	-0.17	0.29	0.36	FDMT
VSTM	-0.17	0.67	0.64		0.39	-0.77	-0.33	-0.65	0.7	0.87	VSTM
OLMA	0.4	0.66	0.26	0.39		-0.43	-0.49	-0.42	0.51	0.32	OLMA
VTYX	0.03	-0.63	-0.46	-0.77	-0.43		0.47	0.72	-0.73	-0.74	VTYX
NMRA	-0.07	-0.71	0.21	-0.33	-0.49	0.47		0.36	-0.67	-0.39	NMRA
CRVS	0.04	-0.5	-0.17	-0.65	-0.42	0.72	0.36		-0.53	-0.75	CRVS
GOSS	-0.01	0.74	0.29	0.7	0.51	-0.73	-0.67	-0.53		0.66	GOSS
RIGL	-0.18	0.69	0.36	0.87	0.32	-0.74	-0.39	-0.75	0.66		RIGL
	KALV	BCYC	FDMT	VSTM	OLMA	VTYX	NMRA	CRVS	GOSS	RIGL

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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

RIGL	+ 0.87	VSTM
GOSS	+ 0.74	BCYC
CRVS	+ 0.72	VTYX
GOSS	+ 0.7	VSTM
RIGL	+ 0.69	BCYC
VSTM	+ 0.67	BCYC

High negative correlations

VTYX	- 0.77	VSTM
RIGL	- 0.75	CRVS
RIGL	- 0.74	VTYX
GOSS	- 0.73	VTYX
NMRA	- 0.71	BCYC
GOSS	- 0.67	NMRA

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
KALV	2.83	0.15	0.04	0.22	3.46	(2.79)	6.17	(6.60)	20.72
BCYC	2.73	(0.22)	0.00	(0.06)	0.00	0.00	6.06	(5.88)	14.20
FDMT	3.66	0.22	0.00	(0.13)	5.81	(3.58)	7.15	(9.69)	27.09
VSTM	3.27	(0.71)	0.00	(0.73)	0.00	0.00	5.83	(7.51)	19.78
OLMA	3.48	0.35	0.08	0.60	3.65	(3.90)	8.41	(5.86)	24.77
VTYX	3.22	0.80	0.16	(4.23)	3.05	(3.72)	9.00	(6.33)	37.04
NMRA	4.18	0.59	0.13	1.34	3.57	(5.37)	10.98	(7.26)	33.25
CRVS	6.56	2.88	0.48	(0.33)	3.42	(8.99)	7.35	(7.20)	174.42
GOSS	5.08	(2.25)	0.00	(0.45)	0.00	0.00	7.66	(7.87)	94.66
RIGL	2.75	(0.35)	0.00	(0.17)	0.00	0.00	6.18	(6.03)	19.03

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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