TRACON Pharmaceuticals Correlations

Summary

TCONDelisted Stock

USD 1.60 0.55 52.38%

The current 90-days correlation between TRACON Pharmaceuticals and Kronos Bio is 0.28 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TRACON Pharmaceuticals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TRACON Pharmaceuticals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

TRACON Pharmaceuticals Correlation With Market

Significant diversification

The correlation between TRACON Pharmaceuticals and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TRACON Pharmaceuticals and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with TRACON Stock

0.78	VALN	Valneva SE ADR	Pair Corr
0.89	VRAX	Virax Biolabs Group	Pair Corr
0.77	VRCA	Verrica Pharmaceuticals	Pair Corr
0.61	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.77	VTGN	VistaGen Therapeutics	Pair Corr

Moving against TRACON Stock

0.54	DMAC	DiaMedica Therapeutics Upward Rally	Pair Corr
0.5	VERA	Vera Therapeutics	Pair Corr
0.5	SABSW	SAB Biotherapeutics	Pair Corr
0.46	VCYT	Veracyte	Pair Corr
0.46	DRUG	Bright Minds Biosciences	Pair Corr
0.45	DNLI	Denali Therapeutics	Pair Corr
0.43	DSGN	Design Therapeutics	Pair Corr
0.42	DOMH	Dominari Holdings	Pair Corr
0.32	VAXX	Vaxxinity	Pair Corr
0.73	VRDN	Viridian Therapeutics	Pair Corr
0.61	VRNA	Verona Pharma PLC	Pair Corr
0.56	VSTM	Verastem	Pair Corr

Related Correlations Analysis

	RZLT	XOMA	SIOX	VINC	HSTO	ENTX	TPST	BTTX	ANTX	MIRO
RZLT		0.62	-0.55	-0.55	0.21	-0.06	-0.47	-0.01	-0.01	0.64	RZLT
XOMA	0.62		-0.69	-0.61	-0.08	-0.41	-0.6	0.38	0.37	0.8	XOMA
SIOX	-0.55	-0.69		0.74	0.01	0.42	0.8	-0.2	-0.28	-0.88	SIOX
VINC	-0.55	-0.61	0.74		0.11	0.42	0.86	0.16	-0.15	-0.82	VINC
HSTO	0.21	-0.08	0.01	0.11		0.41	0.16	0.17	-0.61	0.01	HSTO
ENTX	-0.06	-0.41	0.42	0.42	0.41		0.45	-0.27	-0.45	-0.5	ENTX
TPST	-0.47	-0.6	0.8	0.86	0.16	0.45		-0.01	-0.2	-0.84	TPST
BTTX	-0.01	0.38	-0.2	0.16	0.17	-0.27	-0.01		0.19	0.25	BTTX
ANTX	-0.01	0.37	-0.28	-0.15	-0.61	-0.45	-0.2	0.19		0.22	ANTX
MIRO	0.64	0.8	-0.88	-0.82	0.01	-0.5	-0.84	0.25	0.22		MIRO
	RZLT	XOMA	SIOX	VINC	HSTO	ENTX	TPST	BTTX	ANTX	MIRO

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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

TPST	+ 0.86	VINC
MIRO	+ 0.8	XOMA
TPST	+ 0.8	SIOX
VINC	+ 0.74	SIOX
MIRO	+ 0.64	RZLT
XOMA	+ 0.62	RZLT

High negative correlations

MIRO	- 0.88	SIOX
MIRO	- 0.84	TPST
MIRO	- 0.82	VINC
SIOX	- 0.69	XOMA
ANTX	- 0.61	HSTO
VINC	- 0.61	XOMA

Risk-Adjusted Indicators

There is a big difference between TRACON Stock performing well and TRACON Pharmaceuticals 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 TRACON Pharmaceuticals' 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
RZLT	2.87	0.11	0.05	0.19	3.11	(3.26)	6.81	(5.54)	30.01
XOMA	2.03	0.00	0.00	0.12	3.11	(1.84)	4.36	(5.56)	12.62
SIOX	1.07	(0.10)	0.00	14.93	0.00	0.00	2.33	(2.38)	11.21
VINC	3.98	(1.44)	0.00	(1.16)	0.00	0.00	6.06	(7.32)	48.57
HSTO	4.52	(1.29)	0.00	1.18	0.00	0.00	4.76	(4.55)	131.40
ENTX	2.79	(0.01)	0.00	0.15	0.00	0.00	5.47	(5.47)	29.16
TPST	3.89	(0.73)	0.00	(0.52)	0.00	0.00	6.38	(8.53)	29.55
BTTX	4.55	(0.65)	0.00	0.72	0.00	0.00	12.64	(9.62)	36.53
ANTX	1.90	0.25	0.08	0.47	1.86	(3.07)	3.64	(3.42)	28.03
MIRO	4.85	0.52	0.05	(0.63)	5.26	(6.37)	11.73	(8.87)	38.49

View TRACON Pharmaceuticals Related Equities

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Risk & Return

Correlation

TRACON Pharmaceuticals Corporate Management

Shahe Garabedian	Senior Assurance	Profile
Pharmd PharmD	VP Affairs	Profile
Ya Huang	Executive Programming	Profile
James Freddo	Chief Officer	Profile
MS CPA	Chief Officer	Profile

Still Interested in TRACON Pharmaceuticals?

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