Xenon Pharmaceuticals Correlations

XENE Stock

USD 40.47 0.28 0.70%

The current 90-days correlation between Xenon Pharmaceuticals and Nuvalent is 0.61 (i.e., Poor diversification). The correlation of Xenon Pharmaceuticals 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.

Xenon Pharmaceuticals Correlation With Market

Weak diversification

The correlation between Xenon Pharmaceuticals 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 Xenon Pharmaceuticals and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Xenon Pharmaceuticals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

For information on how to trade Xenon Stock refer to our How to Trade Xenon Stock guide.

Moving together with Xenon Stock

0.67	MGNX	MacroGenics	Pair Corr
0.63	MGTX	MeiraGTx Holdings PLC	Pair Corr
0.8	DNLI	Denali Therapeutics	Pair Corr
0.73	DNTH	Dianthus Therapeutics	Pair Corr
0.64	VERA	Vera Therapeutics	Pair Corr
0.61	DRUG	Bright Minds Biosciences	Pair Corr
0.65	MLYS	Mineralys Therapeutics,	Pair Corr
0.67	DTIL	Precision BioSciences	Pair Corr

Moving against Xenon Stock

0.51	MESO	Mesoblast	Pair Corr
0.46	MDXG	MiMedx Group	Pair Corr
0.38	VCEL	Vericel Corp Ord	Pair Corr
0.33	DMAC	DiaMedica Therapeutics	Pair Corr
0.49	DRTS	Alpha Tau Medical	Pair Corr
0.45	CDIOW	Cardio Diagnostics	Pair Corr
0.43	SABSW	SAB Biotherapeutics	Pair Corr
0.42	VCNX	Vaccinex	Pair Corr
0.41	MNPR	Monopar Therapeutics	Pair Corr

Related Correlations Analysis

	NUVL	DICE	ACLX	PCVX	VRDN	CRNX	INBX	MRUS	LYEL	KRON
NUVL		0.0	0.76	0.68	0.64	0.75	0.33	0.65	0.74	-0.32	NUVL
DICE	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	DICE
ACLX	0.76	0.0		0.59	0.78	0.9	0.5	0.85	0.86	-0.66	ACLX
PCVX	0.68	0.0	0.59		0.81	0.45	0.38	0.81	0.75	-0.19	PCVX
VRDN	0.64	0.0	0.78	0.81		0.65	0.57	0.91	0.79	-0.49	VRDN
CRNX	0.75	0.0	0.9	0.45	0.65		0.49	0.7	0.73	-0.51	CRNX
INBX	0.33	0.0	0.5	0.38	0.57	0.49		0.54	0.39	-0.13	INBX
MRUS	0.65	0.0	0.85	0.81	0.91	0.7	0.54		0.88	-0.54	MRUS
LYEL	0.74	0.0	0.86	0.75	0.79	0.73	0.39	0.88		-0.57	LYEL
KRON	-0.32	0.0	-0.66	-0.19	-0.49	-0.51	-0.13	-0.54	-0.57		KRON
	NUVL	DICE	ACLX	PCVX	VRDN	CRNX	INBX	MRUS	LYEL	KRON

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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

MRUS	+ 0.91	VRDN
CRNX	+ 0.9	ACLX
LYEL	+ 0.88	MRUS
LYEL	+ 0.86	ACLX
MRUS	+ 0.85	ACLX
VRDN	+ 0.81	PCVX

High negative correlations

KRON	- 0.66	ACLX
KRON	- 0.57	LYEL
KRON	- 0.54	MRUS
KRON	- 0.51	CRNX
KRON	- 0.49	VRDN
KRON	- 0.32	NUVL

Risk-Adjusted Indicators

There is a big difference between Xenon Stock performing well and Xenon Pharmaceuticals 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 Xenon Pharmaceuticals' 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
NUVL	1.76	(0.12)	0.00	(0.01)	0.00	0.00	3.34	(3.66)	11.10
DICE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ACLX	2.52	(0.48)	0.00	(0.26)	0.00	0.00	5.73	(6.22)	16.73
PCVX	2.28	(0.25)	0.00	(0.39)	0.00	0.00	3.70	(4.57)	18.02
VRDN	2.95	(0.26)	0.00	(0.09)	0.00	0.00	4.19	(6.93)	29.75
CRNX	2.47	(0.58)	0.00	(0.70)	0.00	0.00	3.10	(7.53)	21.52
INBX	2.51	(0.20)	0.00	(0.24)	0.00	0.00	5.54	(6.11)	12.50
MRUS	2.10	(0.43)	0.00	(0.26)	0.00	0.00	3.33	(4.96)	15.98
LYEL	3.98	(1.31)	0.00	(0.64)	0.00	0.00	6.56	(10.59)	36.92
KRON	2.52	0.16	0.03	0.96	2.66	(3.63)	5.75	(4.35)	17.56

Xenon Pharmaceuticals Corporate Management

Robin Sherrington	Sr. VP of Bus. and Corporate Devel.	Profile
CMA CPA	CEO Pres	Profile
MBA MPH	Chief Officer	Profile
Sherry Aulin	Chief Officer	Profile
Christopher MD	Chief Officer	Profile
Andrea JD	Chief Secretary	Profile
MBA MSc	Ex Operations	Profile

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