Upstream Bio Correlations

UPB Stock

27.07 0.08 0.29%

The current 90-days correlation between Upstream Bio and Zenas BioPharma Common is 0.39 (i.e., Weak diversification). The correlation of Upstream Bio 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.

Upstream Bio Correlation With Market

Average diversification

The correlation between Upstream Bio and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Upstream Bio and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Upstream Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Upstream Bio. 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 information on how to trade Upstream Stock refer to our How to Trade Upstream Stock guide.

Moving together with Upstream Stock

0.62	AMGN	Amgen Inc	Pair Corr
0.79	FTV	Fortive Corp	Pair Corr
0.71	AXP	American Express	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.61	TRV	The Travelers Companies	Pair Corr
0.78	CSCO	Cisco Systems	Pair Corr
0.76	MRK	Merck Company	Pair Corr
0.76	BAC	Bank of America	Pair Corr
0.72	MCD	McDonalds	Pair Corr

Moving against Upstream Stock

0.69	MSFT	Microsoft	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.59	HPQ	HP Inc	Pair Corr
0.54	PG	Procter Gamble	Pair Corr
0.33	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	ZBIO	NTLA	WVE	RLAY	PHVS	SNDX	NVAX	AMLX	TERN	SYRE
ZBIO		-0.85	0.54	0.67	0.7	0.77	-0.87	-0.33	0.84	0.81	ZBIO
NTLA	-0.85		-0.38	-0.5	-0.56	-0.6	0.87	0.45	-0.75	-0.64	NTLA
WVE	0.54	-0.38		0.71	0.34	0.72	-0.46	-0.51	0.82	0.78	WVE
RLAY	0.67	-0.5	0.71		0.65	0.75	-0.55	-0.21	0.75	0.9	RLAY
PHVS	0.7	-0.56	0.34	0.65		0.77	-0.63	-0.21	0.64	0.68	PHVS
SNDX	0.77	-0.6	0.72	0.75	0.77		-0.75	-0.45	0.92	0.84	SNDX
NVAX	-0.87	0.87	-0.46	-0.55	-0.63	-0.75		0.32	-0.86	-0.74	NVAX
AMLX	-0.33	0.45	-0.51	-0.21	-0.21	-0.45	0.32		-0.51	-0.27	AMLX
TERN	0.84	-0.75	0.82	0.75	0.64	0.92	-0.86	-0.51		0.9	TERN
SYRE	0.81	-0.64	0.78	0.9	0.68	0.84	-0.74	-0.27	0.9		SYRE
	ZBIO	NTLA	WVE	RLAY	PHVS	SNDX	NVAX	AMLX	TERN	SYRE

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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

TERN	+ 0.92	SNDX
SYRE	+ 0.9	RLAY
SYRE	+ 0.9	TERN
NVAX	+ 0.87	NTLA
TERN	+ 0.84	ZBIO
SYRE	+ 0.84	SNDX

High negative correlations

NVAX	- 0.87	ZBIO
TERN	- 0.86	NVAX
NTLA	- 0.85	ZBIO
NVAX	- 0.75	SNDX
TERN	- 0.75	NTLA
SYRE	- 0.74	NVAX

Risk-Adjusted Indicators

There is a big difference between Upstream Stock performing well and Upstream 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 Upstream 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
ZBIO	5.14	0.79	0.14	0.43	5.68	(5.96)	13.19	(8.10)	52.76
NTLA	4.82	(0.90)	0.00	1.34	0.00	0.00	11.23	(8.86)	61.94
WVE	6.77	2.25	0.43	3.48	4.12	(9.46)	11.43	(8.08)	164.47
RLAY	3.45	0.62	0.19	0.46	3.00	(4.43)	9.62	(5.31)	27.25
PHVS	3.32	0.23	0.07	0.22	3.45	(3.92)	7.01	(5.72)	27.49
SNDX	2.69	0.41	0.15	0.62	2.31	(3.57)	8.88	(4.98)	18.09
NVAX	2.25	(0.38)	0.00	(0.69)	0.00	0.00	4.02	(4.83)	14.35
AMLX	2.50	(0.15)	0.00	(0.26)	0.00	0.00	7.34	(4.94)	17.17
TERN	5.68	2.98	0.77	(6.45)	2.48	(7.29)	13.30	(5.80)	76.18
SYRE	3.39	1.00	0.32	0.92	2.47	(4.26)	10.99	(4.47)	29.33

Upstream Bio Corporate Management

Allison JD	General VP	Profile
Aaron MD	Chief Development	Profile
Adam MBA	Chief Officer	Profile
Parika MS	Head Operations	Profile
Maryse MS	Senior Writing	Profile

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