Summit Therapeutics Correlations

SMMT Stock

USD 18.94 0.26 1.35%

The current 90-days correlation between Summit Therapeutics PLC and Nkarta Inc is 0.36 (i.e., Weak diversification). The correlation of Summit 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.

Summit Therapeutics Correlation With Market

Modest diversification

The correlation between Summit Therapeutics PLC and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Summit Therapeutics PLC and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Summit Therapeutics 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.

Moving together with Summit Stock

0.62

BCYC

Bicycle Therapeutics

Pair Corr

Moving against Summit Stock

0.32

PIRS

Pieris Pharmaceuticals

Pair Corr

Related Correlations Analysis

	NKTX	CGEM	KZR	KRON	ZVSA	OCEA	ZURA	ELEV	ICVX
NKTX		0.84	-0.67	0.62	0.83	0.78	0.11	0.36	-0.76	NKTX
CGEM	0.84		-0.5	0.68	0.85	0.8	0.49	0.4	-0.61	CGEM
KZR	-0.67	-0.5		-0.29	-0.35	-0.29	0.23	-0.48	0.78	KZR
KRON	0.62	0.68	-0.29		0.77	0.71	0.32	0.19	-0.39	KRON
ZVSA	0.83	0.85	-0.35	0.77		0.9	0.38	0.21	-0.54	ZVSA
OCEA	0.78	0.8	-0.29	0.71	0.9		0.47	0.18	-0.43	OCEA
ZURA	0.11	0.49	0.23	0.32	0.38	0.47		0.03	0.21	ZURA
ELEV	0.36	0.4	-0.48	0.19	0.21	0.18	0.03		-0.71	ELEV
ICVX	-0.76	-0.61	0.78	-0.39	-0.54	-0.43	0.21	-0.71		ICVX
	NKTX	CGEM	KZR	KRON	ZVSA	OCEA	ZURA	ELEV	ICVX

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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

OCEA	+ 0.9	ZVSA
ZVSA	+ 0.85	CGEM
CGEM	+ 0.84	NKTX
ZVSA	+ 0.83	NKTX
OCEA	+ 0.8	CGEM
OCEA	+ 0.78	NKTX

High negative correlations

ICVX	- 0.76	NKTX
ICVX	- 0.71	ELEV
KZR	- 0.67	NKTX
ICVX	- 0.61	CGEM
ICVX	- 0.54	ZVSA
KZR	- 0.5	CGEM

Risk-Adjusted Indicators

There is a big difference between Summit Stock performing well and Summit 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 Summit 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
NKTX	3.77	(1.06)	0.00	(0.31)	0.00	0.00	9.32	(7.83)	24.02
CGEM	2.85	(0.73)	0.00	(0.24)	0.00	0.00	5.88	(7.24)	17.85
KZR	2.97	0.26	0.09	0.37	2.77	(4.16)	4.93	(3.88)	51.13
KRON	2.63	(0.04)	(0.03)	(0.04)	3.32	(3.10)	5.75	(6.25)	16.20
ZVSA	4.10	(1.47)	0.00	(0.36)	0.00	0.00	7.57	(9.60)	78.93
OCEA	3.51	(0.36)	0.00	(0.81)	0.00	0.00	7.46	(6.06)	28.33
ZURA	3.79	(0.66)	0.00	(0.19)	0.00	0.00	7.95	(7.94)	26.70
ELEV	3.51	(0.48)	0.00	(0.11)	0.00	0.00	5.77	(8.22)	22.21
ICVX	4.87	0.93	0.17	1.58	4.56	(5.67)	10.22	(6.79)	38.57

Summit Therapeutics Corporate Management

Elaine JD	Head Counsel	Profile
Fong Clow	Chief Officer	Profile
Betty Chang	Oncology Research	Profile
Bhaskar Anand	Chief Finance	Profile
Will Black	Head Technology	Profile

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