Zai Lab Correlations

ZLAB Stock

USD 17.22 0.22 1.29%

The current 90-days correlation between Zai Lab and Legend Biotech Corp is 0.29 (i.e., Modest diversification). The correlation of Zai Lab 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.

Zai Lab Correlation With Market

Excellent diversification

The correlation between Zai Lab and DJI is -0.57 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zai Lab and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Zai Stock

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

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

Moving together with Zai Stock

0.82	EDIT	Editas Medicine	Pair Corr
0.79	EVGN	Evogene	Pair Corr
0.91	QSI	QuantumSi	Pair Corr
0.86	GNLX	Genelux Common	Pair Corr
0.83	IMRN	Immuron Ltd ADR	Pair Corr
0.77	KRRO	Frequency Therapeutics	Pair Corr
0.74	LYRA	Lyra Therapeutics	Pair Corr
0.76	MBIO	Mustang Bio	Pair Corr
0.78	PROK	ProKidney Corp	Pair Corr
0.79	ACXP	Acurx Pharmaceuticals LLC	Pair Corr

Moving against Zai Stock

0.87	DSGN	Design Therapeutics	Pair Corr
0.71	IMMP	Immutep Ltd ADR	Pair Corr
0.68	ENGN	enGene Holdings Common	Pair Corr
0.62	KYTX	Kyverna Therapeutics	Pair Corr
0.39	ALT	Altimmune	Pair Corr
0.36	63E	ONWARD MEDICAL BV	Pair Corr
0.8	AVE	Avecho Biotechnology	Pair Corr
0.76	ANNX	Annexon	Pair Corr
0.74	SVRA	Savara Inc Downward Rally	Pair Corr
0.67	SLDB	Solid Biosciences LLC	Pair Corr
0.64	MRKR	Marker Therapeutics	Pair Corr
0.49	BCAX	Bicara Therapeutics	Pair Corr
0.38	BOLT	Bolt Biotherapeutics	Pair Corr
0.32	AVCR	Avricore Health	Pair Corr
0.81	SMFG	Sumitomo Mitsui Financial	Pair Corr
0.78	SMFNF	Sumitomo Mitsui Financial	Pair Corr
0.76	FCAP	First Capital Trending	Pair Corr
0.74	CAPR	Capricor Therapeutics	Pair Corr

Related Correlations Analysis

	LEGN	IRON	AAPG	SRRK	IDYA	CNTA	XENE	CDTX	TARS	APGE
LEGN		0.53	0.92	-0.82	-0.51	0.17	-0.34	-0.84	0.1	-0.64	LEGN
IRON	0.53		0.68	-0.22	-0.3	0.76	0.19	-0.79	0.37	-0.33	IRON
AAPG	0.92	0.68		-0.67	-0.47	0.36	-0.2	-0.88	0.21	-0.54	AAPG
SRRK	-0.82	-0.22	-0.67		0.77	0.21	0.63	0.58	0.31	0.84	SRRK
IDYA	-0.51	-0.3	-0.47	0.77		0.04	0.51	0.48	0.42	0.85	IDYA
CNTA	0.17	0.76	0.36	0.21	0.04		0.49	-0.56	0.41	-0.03	CNTA
XENE	-0.34	0.19	-0.2	0.63	0.51	0.49		0.17	0.64	0.58	XENE
CDTX	-0.84	-0.79	-0.88	0.58	0.48	-0.56	0.17		-0.14	0.61	CDTX
TARS	0.1	0.37	0.21	0.31	0.42	0.41	0.64	-0.14		0.5	TARS
APGE	-0.64	-0.33	-0.54	0.84	0.85	-0.03	0.58	0.61	0.5		APGE
	LEGN	IRON	AAPG	SRRK	IDYA	CNTA	XENE	CDTX	TARS	APGE

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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

AAPG	+ 0.92	LEGN
APGE	+ 0.85	IDYA
APGE	+ 0.84	SRRK
IDYA	+ 0.77	SRRK
CNTA	+ 0.76	IRON
AAPG	+ 0.68	IRON

High negative correlations

CDTX	- 0.88	AAPG
CDTX	- 0.84	LEGN
SRRK	- 0.82	LEGN
CDTX	- 0.79	IRON
SRRK	- 0.67	AAPG
APGE	- 0.64	LEGN

Risk-Adjusted Indicators

There is a big difference between Zai Stock performing well and Zai Lab 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 Zai Lab'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
LEGN	2.29	(0.95)	0.00	7.53	0.00	0.00	3.83	(6.84)	19.65
IRON	2.02	(0.04)	0.00	7.63	0.00	0.00	4.33	(4.35)	14.87
AAPG	2.54	(0.51)	0.00	(2.06)	0.00	0.00	5.25	(6.36)	16.72
SRRK	2.93	0.75	0.26	1.18	2.44	(3.57)	5.92	(4.21)	31.68
IDYA	1.94	0.06	0.02	0.14	2.10	(2.18)	4.86	(3.68)	10.56
CNTA	2.28	0.07	0.01	0.37	2.55	(2.52)	4.97	(3.86)	26.54
XENE	1.63	(0.06)	0.00	(0.15)	0.00	0.00	3.78	(2.71)	10.56
CDTX	4.25	1.80	0.66	(2.81)	1.30	(4.61)	5.93	(4.54)	105.72
TARS	1.62	(0.13)	0.00	(0.23)	0.00	0.00	3.78	(3.93)	12.48
APGE	2.10	0.19	0.07	0.19	2.85	(2.36)	4.56	(4.18)	23.21

Zai Lab Corporate Management

Peter Huang	Chief Officer	Profile
Dr MBA	Chief Officer	Profile
Joshua Smiley	Chief Officer	Profile
Frazor III	Chief Sec	Profile
Christine Chiou	Senior Relations	Profile
Harald MD	Autoimmune Neuroscience	Profile

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