Bluebird Bio Correlations

BLUE Stock

USD 3.93 0.01 0.25%

The current 90-days correlation between Bluebird bio and Mersana Therapeutics is 0.05 (i.e., Significant diversification). The correlation of Bluebird Bio 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.

Bluebird Bio Correlation With Market

Modest diversification

The correlation between Bluebird bio and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bluebird bio 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 Bluebird bio. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

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

Moving together with Bluebird Stock

0.62	A	Agilent Technologies	Pair Corr
0.91	ME	23Andme Holding	Pair Corr
0.79	VANI	Vivani Medical Earnings Call This Week	Pair Corr
0.74	DNLI	Denali Therapeutics	Pair Corr
0.81	VCEL	Vericel Corp Ord	Pair Corr
0.81	VCYT	Veracyte	Pair Corr
0.78	VERA	Vera Therapeutics	Pair Corr
0.63	DRTS	Alpha Tau Medical	Pair Corr
0.65	CDIOW	Cardio Diagnostics	Pair Corr
0.65	SABSW	SAB Biotherapeutics	Pair Corr
0.77	VINC	Vincerx Pharma	Pair Corr
0.71	VKTX	Viking Therapeutics	Pair Corr
0.7	DYAI	Dyadic International Earnings Call This Week	Pair Corr
0.73	VRAX	Virax Biolabs Group	Pair Corr
0.83	VRDN	Viridian Therapeutics	Pair Corr
0.86	VRPX	Virpax Pharmaceuticals	Pair Corr
0.82	VTRS	Viatris	Pair Corr
0.86	VTYX	Ventyx Biosciences	Pair Corr

Moving against Bluebird Stock

0.84	DVAX	Dynavax Technologies	Pair Corr
0.76	VALN	Valneva SE ADR	Pair Corr
0.51	VIGL	Vigil Neuroscience	Pair Corr
0.42	DMAC	DiaMedica Therapeutics	Pair Corr
0.36	EQ	Equillium	Pair Corr
0.35	DTIL	Precision BioSciences Earnings Call This Week	Pair Corr
0.82	VRTX	Vertex Pharmaceuticals	Pair Corr
0.8	VRNA	Verona Pharma PLC	Pair Corr
0.59	EDSA	Edesa Biotech	Pair Corr
0.52	VTVT	vTv Therapeutics	Pair Corr
0.48	VSTM	Verastem	Pair Corr
0.37	VNDA	Vanda Pharmaceuticals	Pair Corr
0.37	EDIT	Editas Medicine	Pair Corr
0.35	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.32	SRZNW	Surrozen Warrant	Pair Corr

Related Correlations Analysis

	MRSN	ZNTL	YMAB	TVTX	MDGL	VKTX	SRPT	HEPA	PTCT	AGIO
MRSN		0.85	0.96	-0.56	-0.44	0.92	0.68	0.82	-0.34	0.75	MRSN
ZNTL	0.85		0.9	-0.5	-0.49	0.89	0.76	0.9	-0.54	0.57	ZNTL
YMAB	0.96	0.9		-0.5	-0.48	0.95	0.81	0.89	-0.51	0.75	YMAB
TVTX	-0.56	-0.5	-0.5		0.67	-0.58	-0.42	-0.6	0.4	-0.25	TVTX
MDGL	-0.44	-0.49	-0.48	0.67		-0.47	-0.48	-0.63	0.61	-0.24	MDGL
VKTX	0.92	0.89	0.95	-0.58	-0.47		0.8	0.89	-0.54	0.65	VKTX
SRPT	0.68	0.76	0.81	-0.42	-0.48	0.8		0.85	-0.77	0.51	SRPT
HEPA	0.82	0.9	0.89	-0.6	-0.63	0.89	0.85		-0.7	0.51	HEPA
PTCT	-0.34	-0.54	-0.51	0.4	0.61	-0.54	-0.77	-0.7		-0.13	PTCT
AGIO	0.75	0.57	0.75	-0.25	-0.24	0.65	0.51	0.51	-0.13		AGIO
	MRSN	ZNTL	YMAB	TVTX	MDGL	VKTX	SRPT	HEPA	PTCT	AGIO

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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

YMAB	+ 0.96	MRSN
VKTX	+ 0.95	YMAB
VKTX	+ 0.92	MRSN
YMAB	+ 0.9	ZNTL
HEPA	+ 0.9	ZNTL
VKTX	+ 0.89	ZNTL

High negative correlations

PTCT	- 0.77	SRPT
PTCT	- 0.7	HEPA
HEPA	- 0.63	MDGL
HEPA	- 0.6	TVTX
VKTX	- 0.58	TVTX
TVTX	- 0.56	MRSN

Risk-Adjusted Indicators

There is a big difference between Bluebird Stock performing well and Bluebird Bio 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 Bluebird Bio'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
MRSN	6.09	(1.86)	0.00	(1.05)	0.00	0.00	8.47	(13.89)	52.68
ZNTL	4.87	(0.61)	0.00	(0.35)	0.00	0.00	8.00	(11.11)	42.40
YMAB	2.57	(1.07)	0.00	(0.95)	0.00	0.00	3.78	(6.65)	16.00
TVTX	2.91	0.32	0.08	0.08	3.08	(3.71)	6.29	(4.94)	20.04
MDGL	3.01	0.31	0.07	0.17	3.98	(3.04)	7.64	(5.66)	23.14
VKTX	3.64	(0.55)	0.00	(1.00)	0.00	0.00	8.39	(10.98)	24.65
SRPT	2.03	(0.64)	0.00	(0.68)	0.00	0.00	3.58	(5.10)	10.14
HEPA	9.86	(4.04)	0.00	(7.21)	0.00	0.00	16.37	(31.39)	90.05
PTCT	1.94	0.28	0.12	0.18	2.16	(2.13)	4.83	(4.33)	13.60
AGIO	2.39	(0.48)	0.00	(0.89)	0.00	0.00	4.19	(6.81)	17.77

Bluebird Bio Corporate Management

Mr MD	Chief Officer	Profile
Melissa Bonner	VP Research	Profile
Andrea Walton	Chief Officer	Profile
JD Esq	Chief Secretary	Profile
Christopher CPA	Principal CFO	Profile

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