Zai Lab Correlations

ZLAB Stock

USD 19.61 0.89 4.75%

The current 90-days correlation between Zai Lab and Legend Biotech Corp is 0.25 (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

Average diversification

The correlation between Zai Lab and DJI is 0.13 (i.e., Average 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.

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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

0.86	LIPO	Lipella Pharmaceuticals	Pair Corr
0.77	HPQ	HP Inc	Pair Corr
0.79	HD	Home Depot	Pair Corr

Moving against Zai Stock

0.92	DD	Dupont De Nemours	Pair Corr
0.88	CSCO	Cisco Systems	Pair Corr
0.86	WSFS	WSFS Financial	Pair Corr
0.84	TRV	The Travelers Companies Earnings Call This Week	Pair Corr
0.82	ATI	Allegheny Technologies	Pair Corr
0.82	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.81	AMGN	Amgen Inc	Pair Corr
0.8	F	Ford Motor	Pair Corr
0.78	BAC	Bank of America	Pair Corr
0.77	BOF	BranchOut Food Common	Pair Corr
0.77	AXP	American Express	Pair Corr
0.77	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.75	PFE	Pfizer Inc	Pair Corr
0.74	ACR-PC	ACRES Commercial Realty	Pair Corr
0.71	ACN	Accenture plc	Pair Corr
0.62	KO	Coca Cola Aggressive Push	Pair Corr
0.62	JPM	JPMorgan Chase	Pair Corr
0.62	IBM	International Business	Pair Corr
0.55	ASXSF	Elysee Development Corp	Pair Corr
0.5	GILD	Gilead Sciences	Pair Corr
0.45	MMM	3M Company Earnings Call This Week	Pair Corr

Related Correlations Analysis

	LEGN	IRON	AAPG	SRRK	IDYA	CNTA	XENE	CDTX	TARS	APGE
LEGN		0.08	0.92	-0.88	-0.75	-0.16	-0.54	-0.89	-0.79	-0.93	LEGN
IRON	0.08		0.16	0.06	0.2	0.75	0.19	0.06	0.16	0.04	IRON
AAPG	0.92	0.16		-0.75	-0.75	-0.04	-0.43	-0.78	-0.69	-0.86	AAPG
SRRK	-0.88	0.06	-0.75		0.77	0.45	0.64	0.89	0.89	0.93	SRRK
IDYA	-0.75	0.2	-0.75	0.77		0.39	0.52	0.79	0.72	0.88	IDYA
CNTA	-0.16	0.75	-0.04	0.45	0.39		0.46	0.31	0.54	0.32	CNTA
XENE	-0.54	0.19	-0.43	0.64	0.52	0.46		0.69	0.68	0.61	XENE
CDTX	-0.89	0.06	-0.78	0.89	0.79	0.31	0.69		0.83	0.93	CDTX
TARS	-0.79	0.16	-0.69	0.89	0.72	0.54	0.68	0.83		0.86	TARS
APGE	-0.93	0.04	-0.86	0.93	0.88	0.32	0.61	0.93	0.86		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

APGE	+ 0.93	SRRK
APGE	+ 0.93	CDTX
AAPG	+ 0.92	LEGN
CDTX	+ 0.89	SRRK
TARS	+ 0.89	SRRK
APGE	+ 0.88	IDYA

High negative correlations

APGE	- 0.93	LEGN
CDTX	- 0.89	LEGN
SRRK	- 0.88	LEGN
APGE	- 0.86	AAPG
TARS	- 0.79	LEGN
CDTX	- 0.78	AAPG

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	2.08	(0.56)	0.00	(0.39)	0.00	0.00	3.63	(4.83)	13.06
IRON	2.27	0.14	0.03	0.36	2.75	(2.62)	4.63	(4.05)	32.45
AAPG	2.66	(0.30)	0.00	(0.98)	0.00	0.00	5.25	(6.36)	16.72
SRRK	3.02	0.34	0.05	(1.41)	3.85	(3.24)	5.92	(5.79)	30.20
IDYA	2.27	0.42	0.20	0.46	1.98	(2.74)	5.53	(3.68)	15.68
CNTA	2.13	0.00	(0.03)	0.12	2.69	(2.23)	3.81	(4.08)	26.54
XENE	1.66	0.01	(0.01)	0.12	1.96	(1.80)	3.93	(2.71)	10.56
CDTX	4.25	1.64	0.63	1.56	1.30	(4.61)	5.93	(4.54)	105.72
TARS	1.59	0.09	0.01	0.44	1.78	(1.82)	3.92	(3.26)	11.95
APGE	2.03	0.50	0.30	0.37	1.49	(2.52)	5.46	(3.96)	15.07

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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