Relay Therapeutics Correlations

RLAY Stock

USD 4.46 0.14 3.24%

The current 90-days correlation between Relay Therapeutics and Stoke Therapeutics is 0.18 (i.e., Average diversification). The correlation of Relay Therapeutics 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.

Relay Therapeutics Correlation With Market

Significant diversification

The correlation between Relay Therapeutics and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Relay Therapeutics 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 Relay Therapeutics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more information on how to buy Relay Stock please use our How to Invest in Relay Therapeutics guide.

Moving together with Relay Stock

0.68	EQ	Equillium	Pair Corr
0.91	ME	23Andme Holding	Pair Corr
0.87	VALN	Valneva SE ADR	Pair Corr
0.82	DNLI	Denali Therapeutics	Pair Corr
0.82	DNTH	Dianthus Therapeutics	Pair Corr
0.72	DOMH	Dominari Holdings	Pair Corr
0.9	DRRX	Durect	Pair Corr
0.89	DTIL	Precision BioSciences	Pair Corr
0.9	VIGL	Vigil Neuroscience	Pair Corr
0.88	VINC	Vincerx Pharma	Pair Corr
0.86	VKTX	Viking Therapeutics	Pair Corr
0.7	VRCA	Verrica Pharmaceuticals	Pair Corr
0.89	VRDN	Viridian Therapeutics Buyout Trend	Pair Corr
0.75	VRPX	Virpax Pharmaceuticals	Pair Corr
0.76	VRTX	Vertex Pharmaceuticals	Pair Corr

Moving against Relay Stock

0.85	VCEL	Vericel Corp Ord	Pair Corr
0.81	VCYT	Veracyte Potential Growth	Pair Corr
0.78	DRTS	Alpha Tau Medical	Pair Corr
0.73	DMAC	DiaMedica Therapeutics	Pair Corr
0.6	CDIOW	Cardio Diagnostics	Pair Corr
0.5	SABSW	SAB Biotherapeutics	Pair Corr
0.84	DYAI	Dyadic International	Pair Corr
0.74	VRNA	Verona Pharma PLC	Pair Corr
0.67	DVAX	Dynavax Technologies	Pair Corr
0.66	VSTM	Verastem	Pair Corr
0.58	SRZNW	Surrozen Warrant	Pair Corr
0.56	KTTAW	Pasithea Therapeutics	Pair Corr
0.42	VTRS	Viatris	Pair Corr
0.35	VYNE	Vyne Therapeutics	Pair Corr
0.32	VTVT	vTv Therapeutics	Pair Corr

Related Correlations Analysis

	STOK	PLRX	BDTX	ARVN	DAWN	MRTX	AMLX	TERN	APLS	THRX
STOK		0.76	0.72	0.75	0.81	0.71	0.67	0.88	-0.11	0.78	STOK
PLRX	0.76		0.61	0.7	0.71	0.61	0.55	0.82	0.08	0.71	PLRX
BDTX	0.72	0.61		0.81	0.9	0.8	0.55	0.85	-0.57	0.55	BDTX
ARVN	0.75	0.7	0.81		0.9	0.77	0.77	0.76	-0.4	0.57	ARVN
DAWN	0.81	0.71	0.9	0.9		0.85	0.77	0.82	-0.44	0.66	DAWN
MRTX	0.71	0.61	0.8	0.77	0.85		0.69	0.74	-0.53	0.73	MRTX
AMLX	0.67	0.55	0.55	0.77	0.77	0.69		0.52	-0.17	0.55	AMLX
TERN	0.88	0.82	0.85	0.76	0.82	0.74	0.52		-0.2	0.75	TERN
APLS	-0.11	0.08	-0.57	-0.4	-0.44	-0.53	-0.17	-0.2		-0.04	APLS
THRX	0.78	0.71	0.55	0.57	0.66	0.73	0.55	0.75	-0.04		THRX
	STOK	PLRX	BDTX	ARVN	DAWN	MRTX	AMLX	TERN	APLS	THRX

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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

DAWN	+ 0.9	BDTX
DAWN	+ 0.9	ARVN
TERN	+ 0.88	STOK
TERN	+ 0.85	BDTX
MRTX	+ 0.85	DAWN
TERN	+ 0.82	PLRX

High negative correlations

APLS	- 0.57	BDTX
APLS	- 0.53	MRTX
APLS	- 0.44	DAWN
APLS	- 0.4	ARVN
APLS	- 0.2	TERN
APLS	- 0.17	AMLX

Risk-Adjusted Indicators

There is a big difference between Relay Stock performing well and Relay Therapeutics 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 Relay Therapeutics' 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
STOK	2.63	(0.40)	0.00	(1.05)	0.00	0.00	4.60	(5.30)	27.59
PLRX	3.11	(0.25)	0.00	(0.36)	0.00	0.00	5.37	(5.67)	20.55
BDTX	3.31	(0.63)	0.00	(0.54)	0.00	0.00	5.02	(6.41)	25.91
ARVN	3.36	(0.46)	0.00	(0.89)	0.00	0.00	6.13	(6.68)	23.09
DAWN	1.84	(0.20)	0.00	(0.18)	0.00	0.00	3.92	(3.46)	11.05
MRTX	2.24	(0.42)	0.00	1.36	0.00	0.00	4.02	(4.07)	16.13
AMLX	4.38	0.14	0.03	0.17	5.38	(4.42)	9.49	(8.97)	33.56
TERN	3.09	(0.76)	0.00	(1.08)	0.00	0.00	5.17	(6.80)	26.61
APLS	2.56	0.18	0.04	0.27	3.79	(2.69)	4.63	(4.71)	27.73
THRX	5.44	(0.51)	0.00	0.28	0.00	0.00	11.75	(8.57)	90.33

Relay Therapeutics Corporate Management

Deborah Palestrant	Vice Strategy	Profile
MA MBA	Pres CEO	Profile
Thomas Catinazzo	Chief Officer	Profile
Andy Porter	Chief Officer	Profile
Jim Watters	Chief Research	Profile

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