Veracyte Correlations

VCYT Stock

USD 41.10 1.51 3.81%

The current 90-days correlation between Veracyte and Crinetics Pharmaceuticals is 0.28 (i.e., Modest diversification). The correlation of Veracyte 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.

Veracyte Correlation With Market

Weak diversification

The correlation between Veracyte and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Veracyte 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 Veracyte. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

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

Moving together with Veracyte Stock

0.65	MDGL	Madrigal Pharmaceuticals	Pair Corr
0.69	HPQ	HP Inc	Pair Corr
0.82	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.81	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.82	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Veracyte Stock

0.83	VALN	Valneva SE ADR	Pair Corr
0.8	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.78	NKTX	Nkarta Inc	Pair Corr
0.76	TCHH	Trustcash Holdings	Pair Corr
0.75	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.73	AGL	agilon health Buyout Trend	Pair Corr
0.69	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.69	MTEM	Molecular Templates	Pair Corr
0.67	BACK	IMAC Holdings	Pair Corr
0.64	ME	23Andme Holding	Pair Corr
0.59	TPST	Tempest Therapeutics	Pair Corr
0.53	IPSC	Century Therapeutics	Pair Corr
0.42	EQ	Equillium	Pair Corr
0.4	CYRX	Cryoport	Pair Corr
0.39	A	Agilent Technologies	Pair Corr
0.75	KO	Coca Cola Aggressive Push	Pair Corr
0.7	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.68	TLK	Telkom Indonesia Tbk	Pair Corr
0.65	HYMTF	Hyundai Motor	Pair Corr
0.64	EC	Ecopetrol SA ADR	Pair Corr
0.52	SHG	Shinhan Financial	Pair Corr
0.38	WF	Woori Financial Group	Pair Corr
0.36	PG	Procter Gamble	Pair Corr
0.35	VFSWW	VinFast Auto	Pair Corr

Related Correlations Analysis

	CRNX	VRDN	CYTK	GPCR	ICVX	KURA	PTGX	MRUS	REPL	CERE
CRNX		0.45	0.01	-0.31	0.43	-0.48	0.31	0.3	0.52	-0.09	CRNX
VRDN	0.45		-0.16	0.21	0.88	-0.29	0.64	0.15	0.61	0.0	VRDN
CYTK	0.01	-0.16		0.28	-0.35	0.63	-0.04	0.61	-0.28	0.46	CYTK
GPCR	-0.31	0.21	0.28		0.02	0.58	0.36	0.38	-0.03	0.33	GPCR
ICVX	0.43	0.88	-0.35	0.02		-0.51	0.44	-0.02	0.64	-0.1	ICVX
KURA	-0.48	-0.29	0.63	0.58	-0.51		0.03	0.36	-0.58	0.67	KURA
PTGX	0.31	0.64	-0.04	0.36	0.44	0.03		0.39	0.49	-0.06	PTGX
MRUS	0.3	0.15	0.61	0.38	-0.02	0.36	0.39		0.08	0.35	MRUS
REPL	0.52	0.61	-0.28	-0.03	0.64	-0.58	0.49	0.08		-0.39	REPL
CERE	-0.09	0.0	0.46	0.33	-0.1	0.67	-0.06	0.35	-0.39		CERE
	CRNX	VRDN	CYTK	GPCR	ICVX	KURA	PTGX	MRUS	REPL	CERE

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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

ICVX	+ 0.88	VRDN
CERE	+ 0.67	KURA
PTGX	+ 0.64	VRDN
REPL	+ 0.64	ICVX
KURA	+ 0.63	CYTK
REPL	+ 0.61	VRDN

High negative correlations

REPL	- 0.58	KURA
KURA	- 0.51	ICVX
KURA	- 0.48	CRNX
CERE	- 0.39	REPL
ICVX	- 0.35	CYTK
GPCR	- 0.31	CRNX

Risk-Adjusted Indicators

There is a big difference between Veracyte Stock performing well and Veracyte 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 Veracyte'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
CRNX	1.71	(0.01)	(0.01)	0.11	2.43	(1.68)	3.67	(3.45)	16.75
VRDN	3.12	0.33	0.11	0.32	3.48	(3.64)	6.84	(5.29)	44.89
CYTK	1.89	(0.39)	0.00	(0.11)	0.00	0.00	3.42	(4.15)	14.08
GPCR	2.96	(0.25)	0.00	(0.24)	0.00	0.00	8.18	(6.07)	24.50
ICVX	4.87	0.96	0.17	2.53	4.56	(5.67)	10.22	(6.79)	38.57
KURA	2.36	(0.78)	0.00	(3.35)	0.00	0.00	4.98	(4.04)	42.52
PTGX	1.88	0.00	0.03	0.12	2.23	(1.92)	3.70	(3.74)	14.61
MRUS	1.67	(0.37)	0.00	(0.20)	0.00	0.00	3.08	(2.83)	10.85
REPL	3.10	0.47	0.16	0.36	2.86	(3.47)	7.38	(5.60)	15.63
CERE	0.77	0.10	(0.04)	(0.31)	0.94	(1.02)	1.91	(1.59)	6.40

Veracyte Corporate Management

Robert Brainin	Executive Officer	Profile
John Leite	Chief Business	Profile
Annie McGuire	Sr Counsel	Profile
Tracy Morris	VP Communications	Profile

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