Tectonic Therapeutic, Correlations

TECX Stock

44.89 0.86 1.95%

The current 90-days correlation between Tectonic Therapeutic, and Coherus BioSciences is 0.04 (i.e., Significant diversification). The correlation of Tectonic Therapeutic, 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.

Tectonic Therapeutic, Correlation With Market

Average diversification

The correlation between Tectonic Therapeutic, and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tectonic Therapeutic, 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 Tectonic Therapeutic,. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more information on how to buy Tectonic Stock please use our How to Invest in Tectonic Therapeutic, guide.

Moving together with Tectonic Stock

0.69	KZR	Kezar Life Sciences	Pair Corr
0.69	MLYS	Mineralys Therapeutics, Downward Rally	Pair Corr
0.83	HPQ	HP Inc	Pair Corr
0.83	BAC	Bank of America Aggressive Push	Pair Corr
0.92	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.84	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Tectonic Stock

0.94	NKTX	Nkarta Inc	Pair Corr
0.93	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.85	MTEM	Molecular Templates	Pair Corr
0.85	AGL	agilon health	Pair Corr
0.82	VALN	Valneva SE ADR Downward Rally	Pair Corr
0.8	TPST	Tempest Therapeutics	Pair Corr
0.78	ME	23Andme Holding	Pair Corr
0.77	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.74	IPSC	Century Therapeutics	Pair Corr
0.69	BACK	IMAC Holdings	Pair Corr
0.67	CYRX	Cryoport	Pair Corr
0.64	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.55	TCHH	Trustcash Holdings	Pair Corr
0.48	ROIV	Roivant Sciences	Pair Corr
0.43	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.33	MDWD	Mediwound	Pair Corr
0.91	EC	Ecopetrol SA ADR	Pair Corr
0.82	KO	Coca Cola Aggressive Push	Pair Corr
0.79	TLK	Telkom Indonesia Tbk	Pair Corr
0.75	HYMTF	Hyundai Motor	Pair Corr
0.74	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.72	SHG	Shinhan Financial	Pair Corr
0.63	PG	Procter Gamble	Pair Corr
0.55	WF	Woori Financial Group	Pair Corr
0.51	VFSWW	VinFast Auto	Pair Corr

Related Correlations Analysis

	LYRA	HOOK	CINGW	SABS	CVKD	MNPR	SPRO	CHRS	IKNA
LYRA		0.84	0.3	-0.09	-0.58	-0.48	0.8	0.57	0.25	LYRA
HOOK	0.84		0.47	-0.35	-0.81	-0.74	0.82	0.83	0.05	HOOK
CINGW	0.3	0.47		-0.59	-0.48	-0.56	0.34	0.47	-0.03	CINGW
SABS	-0.09	-0.35	-0.59		0.43	0.55	-0.18	-0.5	0.1	SABS
CVKD	-0.58	-0.81	-0.48	0.43		0.74	-0.6	-0.92	0.08	CVKD
MNPR	-0.48	-0.74	-0.56	0.55	0.74		-0.49	-0.75	0.13	MNPR
SPRO	0.8	0.82	0.34	-0.18	-0.6	-0.49		0.61	0.18	SPRO
CHRS	0.57	0.83	0.47	-0.5	-0.92	-0.75	0.61		0.05	CHRS
IKNA	0.25	0.05	-0.03	0.1	0.08	0.13	0.18	0.05		IKNA
	LYRA	HOOK	CINGW	SABS	CVKD	MNPR	SPRO	CHRS	IKNA

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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

HOOK	+ 0.84	LYRA
CHRS	+ 0.83	HOOK
SPRO	+ 0.82	HOOK
SPRO	+ 0.8	LYRA
MNPR	+ 0.74	CVKD
CHRS	+ 0.61	SPRO

High negative correlations

CHRS	- 0.92	CVKD
CVKD	- 0.81	HOOK
CHRS	- 0.75	MNPR
MNPR	- 0.74	HOOK
SPRO	- 0.6	CVKD
SABS	- 0.59	CINGW

Risk-Adjusted Indicators

There is a big difference between Tectonic Stock performing well and Tectonic Therapeutic, 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 Tectonic Therapeutic,'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
LYRA	4.21	(0.84)	0.00	(0.56)	0.00	0.00	8.00	(10.00)	41.07
HOOK	2.74	(1.25)	0.00	(0.97)	0.00	0.00	4.05	(7.24)	15.72
CINGW	11.45	(0.13)	0.00	0.17	0.00	0.00	34.83	(25.20)	92.13
SABS	5.71	0.45	0.06	1.12	6.39	(6.57)	17.06	(11.25)	45.73
CVKD	6.08	1.06	0.18	0.52	6.10	(6.99)	17.85	(7.47)	47.47
MNPR	20.54	10.43	0.90	(2.43)	7.94	(25.73)	15.93	(9.50)	653.56
SPRO	1.76	(0.25)	0.00	(0.33)	0.00	0.00	3.79	(4.58)	14.92
CHRS	4.15	(0.22)	(0.02)	0.00	4.72	(5.71)	7.62	(6.94)	26.43
IKNA	1.08	(0.05)	(0.06)	0.01	1.38	(1.50)	1.81	(1.74)	13.50

Tectonic Therapeutic, Corporate Management

Daniel MBA	Chief Officer	Profile
MS MD	Chief Officer	Profile
Christian Cortis	Executive Officer	Profile
Peter McNamara	Chief Officer	Profile
Anthony MD	Chief Officer	Profile
John Diener	Senior Sciences	Profile
Marc Schwabish	Chief Officer	Profile

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