Akero Therapeutics Correlations

AKRO Stock

USD 45.22 0.56 1.25%

The current 90-days correlation between Akero Therapeutics and Madrigal Pharmaceuticals is -0.06 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Akero Therapeutics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Akero Therapeutics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Akero Therapeutics Correlation With Market

Average diversification

The correlation between Akero Therapeutics and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Akero Therapeutics and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Akero Therapeutics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

To learn how to invest in Akero Stock, please use our How to Invest in Akero Therapeutics guide.

Moving together with Akero Stock

0.66	PLX	Protalix Biotherapeutics	Pair Corr
0.65	LUCD	Lucid Diagnostics	Pair Corr
0.81	WM	Waste Management	Pair Corr
0.84	GE	GE Aerospace	Pair Corr
0.62	CSCO	Cisco Systems	Pair Corr
0.68	JNJ	Johnson Johnson	Pair Corr
0.79	MMM	3M Company	Pair Corr
0.76	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.86	IBM	International Business	Pair Corr

Moving against Akero Stock

0.64	CDIO	Cardio Diagnostics	Pair Corr
0.61	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.6	SCLX	Scilex Holding	Pair Corr
0.59	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.51	ELVN	Enliven Therapeutics	Pair Corr
0.43	CDIOW	Cardio Diagnostics	Pair Corr
0.41	CMND	Clearmind Medicine Common	Pair Corr
0.69	MRK	Merck Company	Pair Corr
0.51	MSFT	Microsoft	Pair Corr
0.38	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	TERN	MDGL	INZY	VKTX	ICPT	RETA	RVMD	RNA	PTGX	STOK
TERN		-0.5	0.93	0.95	0.0	0.0	0.88	0.11	-0.4	0.75	TERN
MDGL	-0.5		-0.43	-0.46	0.0	0.0	-0.22	0.42	0.24	-0.23	MDGL
INZY	0.93	-0.43		0.94	0.0	0.0	0.83	0.02	-0.27	0.61	INZY
VKTX	0.95	-0.46	0.94		0.0	0.0	0.82	0.04	-0.26	0.64	VKTX
ICPT	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ICPT
RETA	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	RETA
RVMD	0.88	-0.22	0.83	0.82	0.0	0.0		0.33	-0.48	0.79	RVMD
RNA	0.11	0.42	0.02	0.04	0.0	0.0	0.33		0.11	0.53	RNA
PTGX	-0.4	0.24	-0.27	-0.26	0.0	0.0	-0.48	0.11		-0.33	PTGX
STOK	0.75	-0.23	0.61	0.64	0.0	0.0	0.79	0.53	-0.33		STOK
	TERN	MDGL	INZY	VKTX	ICPT	RETA	RVMD	RNA	PTGX	STOK

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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

VKTX	+ 0.95	TERN
VKTX	+ 0.94	INZY
INZY	+ 0.93	TERN
RVMD	+ 0.88	TERN
RVMD	+ 0.83	INZY
RVMD	+ 0.82	VKTX

High negative correlations

MDGL	- 0.5	TERN
PTGX	- 0.48	RVMD
VKTX	- 0.46	MDGL
INZY	- 0.43	MDGL
PTGX	- 0.4	TERN
STOK	- 0.33	PTGX

Risk-Adjusted Indicators

There is a big difference between Akero Stock performing well and Akero Therapeutics 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 Akero Therapeutics' 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
TERN	3.05	(0.92)	0.00	(1.16)	0.00	0.00	5.03	(6.98)	19.13
MDGL	3.00	0.33	0.08	0.22	3.97	(3.01)	7.64	(5.66)	23.14
INZY	4.07	(1.42)	0.00	(0.89)	0.00	0.00	6.82	(9.17)	36.29
VKTX	3.69	(0.56)	0.00	(0.90)	0.00	0.00	8.39	(10.98)	24.65
ICPT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RETA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RVMD	1.71	(0.16)	0.00	(0.20)	0.00	0.00	4.37	(5.89)	11.35
RNA	2.83	0.07	0.00	(0.02)	0.00	0.00	6.64	(4.79)	20.15
PTGX	2.79	0.42	0.22	(0.35)	2.47	(3.39)	3.48	(3.74)	50.66
STOK	3.45	(0.39)	0.00	(0.32)	0.00	0.00	7.03	(9.08)	20.29

Akero Therapeutics Corporate Management

Timothy Rolph	CoFounder Officer	Profile
Patrick Lamy	Senior Strategy	Profile
Scott Gangloff	Chief Officer	Profile
Catriona Yale	Executive Officer	Profile
Thomas Ross	Senior Legal	Profile
William JD	CFO, VP	Profile

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