Tourmaline Bio Correlations

TRMLDelisted Stock

47.98 0.00 0.00%

The current 90-days correlation between Tourmaline Bio and Precigen is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tourmaline Bio moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tourmaline Bio moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tourmaline Bio Correlation With Market

Average diversification

The correlation between Tourmaline Bio and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tourmaline Bio 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 industry.

Moving together with Tourmaline Stock

0.92	IRNRF	Iron Road Limited	Pair Corr
0.71	GSTX	Graphene Solar Techn	Pair Corr
0.82	TRV	The Travelers Companies	Pair Corr
0.67	AXP	American Express	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.67	BAC	Bank of America	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.82	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.91	DD	Dupont De Nemours	Pair Corr
0.77	KO	Coca Cola	Pair Corr
0.9	CSCO	Cisco Systems	Pair Corr
0.73	CAT	Caterpillar	Pair Corr

Moving against Tourmaline Stock

0.84	MSFT	Microsoft Sell-off Trend	Pair Corr
0.84	HPQ	HP Inc	Pair Corr
0.66	PG	Procter Gamble	Pair Corr
0.65	CHHE	China Health Industries	Pair Corr
0.43	T	ATT Inc	Pair Corr
0.4	GBHPF	Global Hemp Group	Pair Corr

Related Correlations Analysis

	TERN	PGEN	IMTX	ORIC	ELVN	AMLX	RLAY	DNTH	WVE	SNDX
TERN		0.29	0.11	-0.89	-0.64	-0.57	0.76	0.82	0.82	0.92	TERN
PGEN	0.29		0.07	-0.34	-0.15	-0.28	0.34	0.13	0.17	0.09	PGEN
IMTX	0.11	0.07		-0.03	0.28	0.4	0.47	0.3	0.07	0.22	IMTX
ORIC	-0.89	-0.34	-0.03		0.77	0.63	-0.74	-0.67	-0.82	-0.84	ORIC
ELVN	-0.64	-0.15	0.28	0.77		0.81	-0.45	-0.24	-0.71	-0.6	ELVN
AMLX	-0.57	-0.28	0.4	0.63	0.81		-0.26	-0.18	-0.59	-0.47	AMLX
RLAY	0.76	0.34	0.47	-0.74	-0.45	-0.26		0.63	0.7	0.74	RLAY
DNTH	0.82	0.13	0.3	-0.67	-0.24	-0.18	0.63		0.5	0.86	DNTH
WVE	0.82	0.17	0.07	-0.82	-0.71	-0.59	0.7	0.5		0.72	WVE
SNDX	0.92	0.09	0.22	-0.84	-0.6	-0.47	0.74	0.86	0.72		SNDX
	TERN	PGEN	IMTX	ORIC	ELVN	AMLX	RLAY	DNTH	WVE	SNDX

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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

SNDX	+ 0.92	TERN
SNDX	+ 0.86	DNTH
DNTH	+ 0.82	TERN
WVE	+ 0.82	TERN
AMLX	+ 0.81	ELVN
ELVN	+ 0.77	ORIC

High negative correlations

ORIC	- 0.89	TERN
SNDX	- 0.84	ORIC
WVE	- 0.82	ORIC
RLAY	- 0.74	ORIC
WVE	- 0.71	ELVN
DNTH	- 0.67	ORIC

Risk-Adjusted Indicators

There is a big difference between Tourmaline Stock performing well and Tourmaline Bio 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 Tourmaline Bio'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
TERN	5.46	3.01	0.76	(1.85)	2.48	(6.93)	13.30	(5.80)	76.18
PGEN	3.61	0.42	0.09	0.71	3.99	(4.32)	8.70	(6.73)	38.64
IMTX	3.54	0.13	0.04	0.17	3.87	(4.41)	10.20	(6.47)	30.34
ORIC	2.75	(0.56)	0.00	(0.41)	0.00	0.00	4.48	(4.48)	34.41
ELVN	3.21	(0.42)	0.00	(0.24)	0.00	0.00	6.13	(7.81)	22.71
AMLX	2.52	(0.30)	0.00	(0.48)	0.00	0.00	7.34	(5.24)	17.17
RLAY	3.47	0.62	0.18	0.70	3.04	(4.37)	9.62	(5.31)	27.25
DNTH	2.17	(0.05)	0.00	(0.26)	0.00	0.00	5.38	(5.14)	19.54
WVE	6.54	2.30	0.40	(0.99)	4.13	(8.93)	11.43	(8.08)	164.47
SNDX	2.76	0.41	0.14	0.96	2.46	(3.46)	8.88	(5.07)	18.09

Tourmaline Bio Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Tourmaline Bio stock to make a market-neutral strategy. Peer analysis of Tourmaline Bio could also be used in its relative valuation, which is a method of valuing Tourmaline Bio by comparing valuation metrics with similar companies.

Terns Pharmaceuticals Precigen Immatics NV Oric Pharmaceuticals Enliven Therapeutics Amylyx Pharmaceuticals Relay Therapeutics Dianthus Therapeutics Wave Life Sciences Syndax Pharmaceuticals American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Tourmaline Bio Corporate Management

Susan Jones	Chief Officer	Profile
Kimberly Piorkowski	Culture People	Profile
Bradford JD	General Officer	Profile
Dr MBA	Chief Officer	Profile
Emil MD	Senior Research	Profile
Yung MD	Chief Officer	Profile

Still Interested in Tourmaline Bio?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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