XBiotech Correlations

XBIT Stock

USD 2.51 0.02 0.79%

The current 90-days correlation between XBiotech and Nutriband is 0.02 (i.e., Significant diversification). The correlation of XBiotech 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.

XBiotech Correlation With Market

Weak diversification

The correlation between XBiotech and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding XBiotech and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with XBiotech Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in XBiotech. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

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

Moving against XBiotech Stock

0.36	GILD	Gilead Sciences	Pair Corr
0.34	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	NTRB	ADAG	FBIO	TCRX	CRVO	GANX	LITS	ACRV	ACET	RLMD
NTRB		0.0	-0.47	0.92	-0.35	-0.74	0.79	-0.81	0.95	-0.93	NTRB
ADAG	0.0		0.02	0.09	0.6	0.23	0.15	0.05	0.06	0.13	ADAG
FBIO	-0.47	0.02		-0.34	0.11	0.36	-0.59	0.54	-0.48	0.5	FBIO
TCRX	0.92	0.09	-0.34		-0.35	-0.71	0.63	-0.72	0.94	-0.88	TCRX
CRVO	-0.35	0.6	0.11	-0.35		0.53	-0.04	0.36	-0.29	0.49	CRVO
GANX	-0.74	0.23	0.36	-0.71	0.53		-0.53	0.72	-0.76	0.83	GANX
LITS	0.79	0.15	-0.59	0.63	-0.04	-0.53		-0.66	0.75	-0.74	LITS
ACRV	-0.81	0.05	0.54	-0.72	0.36	0.72	-0.66		-0.8	0.82	ACRV
ACET	0.95	0.06	-0.48	0.94	-0.29	-0.76	0.75	-0.8		-0.91	ACET
RLMD	-0.93	0.13	0.5	-0.88	0.49	0.83	-0.74	0.82	-0.91		RLMD
	NTRB	ADAG	FBIO	TCRX	CRVO	GANX	LITS	ACRV	ACET	RLMD

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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

ACET	+ 0.95	NTRB
ACET	+ 0.94	TCRX
TCRX	+ 0.92	NTRB
RLMD	+ 0.83	GANX
RLMD	+ 0.82	ACRV
LITS	+ 0.79	NTRB

High negative correlations

RLMD	- 0.93	NTRB
RLMD	- 0.91	ACET
RLMD	- 0.88	TCRX
ACRV	- 0.81	NTRB
ACET	- 0.8	ACRV
ACET	- 0.76	GANX

Risk-Adjusted Indicators

There is a big difference between XBiotech Stock performing well and XBiotech 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 XBiotech'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
NTRB	3.68	(0.71)	0.00	(0.53)	0.00	0.00	9.04	(7.23)	32.02
ADAG	3.74	(0.17)	0.00	(0.23)	0.00	0.00	7.95	(7.94)	20.64
FBIO	3.04	0.63	0.21	0.45	2.78	(3.76)	6.63	(4.69)	21.39
TCRX	4.63	(0.79)	0.00	(0.22)	0.00	0.00	11.21	(9.68)	47.29
CRVO	3.02	(0.08)	0.00	(0.38)	0.00	0.00	6.31	(6.17)	17.75
GANX	6.33	0.69	0.08	0.37	9.16	(6.77)	11.46	(9.01)	71.49
LITS	4.64	(0.84)	0.00	(0.32)	0.00	0.00	7.73	(9.87)	24.66
ACRV	4.36	0.71	0.17	0.45	4.06	(5.47)	8.62	(6.91)	26.30
ACET	4.02	(0.57)	0.00	(2.29)	0.00	0.00	6.95	(8.20)	34.54
RLMD	4.92	1.10	0.22	1.81	4.38	(6.33)	12.44	(9.39)	36.80

XBiotech Corporate Management

Benjamn Guzmn	Sr Fin	Profile
Angela Hu	Principal Finance	Profile
Lisa Simard	Inc USA	Profile
Sushma Shivaswamy	Interim Officer	Profile
BA CGA	VP Sec	Profile

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