Alector Correlations

ALEC Stock  USD 1.38  0.07  4.83%   
The current 90-days correlation between Alector and Black Diamond Therapeutics is 0.38 (i.e., Weak diversification). The correlation of Alector 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.

Alector Correlation With Market

Weak diversification

The correlation between Alector and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alector 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 Alector. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.
For information on how to trade Alector Stock refer to our How to Trade Alector Stock guide.

Moving together with Alector Stock

  0.76ME 23Andme HoldingPairCorr
  0.83VANI Vivani Medical Earnings Call This WeekPairCorr
  0.68DNLI Denali TherapeuticsPairCorr
  0.65VCEL Vericel Corp OrdPairCorr
  0.69VCYT VeracytePairCorr
  0.66VERA Vera TherapeuticsPairCorr
  0.77CDIOW Cardio DiagnosticsPairCorr
  0.65VINC Vincerx PharmaPairCorr
  0.75VKTX Viking TherapeuticsPairCorr
  0.64DYAI Dyadic InternationalPairCorr
  0.73VRAX Virax Biolabs GroupPairCorr
  0.79VRPX Virpax PharmaceuticalsPairCorr
  0.83VTRS ViatrisPairCorr

Moving against Alector Stock

  0.54DVAX Dynavax TechnologiesPairCorr
  0.66VRTX Vertex PharmaceuticalsPairCorr
  0.59VRNA Verona Pharma PLC Buyout TrendPairCorr
  0.41VSTM VerastemPairCorr
  0.39EDSA Edesa BiotechPairCorr
  0.37CDTTW Conduit PharmaceuticalsPairCorr
  0.31VNDA Vanda PharmaceuticalsPairCorr

Related Correlations Analysis

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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   
RVMDPASG
CABABDTX
CABAPASG
GLUESTOK
GLUERVMD
CABARVMD
  
High negative correlations   
CABAFIXX
GLUEFIXX
FIXXSTOK
CABABCEL
GLUEBCEL
FIXXBCEL

Risk-Adjusted Indicators

There is a big difference between Alector Stock performing well and Alector 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 Alector'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PASG  3.88 (0.41) 0.00 (0.42) 0.00 
 7.69 
 56.48 
BDTX  3.85 (0.24) 0.00 (0.22) 0.00 
 7.09 
 29.04 
TCRR  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
HARP  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
RVMD  1.71 (0.03) 0.00 (0.12) 0.00 
 4.56 
 11.35 
BCEL  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
STOK  3.46 (0.38) 0.00 (0.31) 0.00 
 7.03 
 20.29 
FIXX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
GLUE  3.36  0.07  0.02  0.01  4.31 
 7.68 
 19.92 
CABA  4.20 (0.16) 0.00 (0.21) 0.00 
 9.46 
 26.78 

Alector Corporate Management

Virginia MBAChief StrategyProfile
Norah ConwayProgram PortfolioProfile
Gary MDChief OfficerProfile
Katie HoganSenior RelationsProfile