Biomea Fusion Correlations

BMEA Stock

USD 2.77 0.04 1.47%

The current 90-days correlation between Biomea Fusion and Werewolf Therapeutics is 0.23 (i.e., Modest diversification). The correlation of Biomea Fusion 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.

Biomea Fusion Correlation With Market

Weak diversification

The correlation between Biomea Fusion and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Biomea Fusion 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 Biomea Fusion. 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 Biomea Stock refer to our How to Trade Biomea Stock guide.

Moving together with Biomea Stock

0.74	MOLN	Molecular Partners	Pair Corr
0.64	SNDL	SNDL Inc	Pair Corr
0.83	CLDX	Celldex Therapeutics	Pair Corr
0.69	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.85	CRVS	Corvus Pharmaceuticals	Pair Corr
0.72	GKOS	Glaukos Corp	Pair Corr
0.77	ITGR	Integer Holdings Corp	Pair Corr
0.87	LIVN	LivaNova PLC	Pair Corr
0.89	MODD	Modular Medical	Pair Corr
0.8	APYX	Apyx Medical	Pair Corr
0.7	SGHT	Sight Sciences	Pair Corr
0.79	SRDX	SurModics	Pair Corr
0.84	CNMD	CONMED	Pair Corr

Moving against Biomea Stock

0.77	CMRX	Chimerix Sell-off Trend	Pair Corr
0.73	CPIX	Cumberland Pharmaceuticals	Pair Corr
0.64	FNA	Paragon 28	Pair Corr
0.38	PFE	Pfizer Inc Sell-off Trend	Pair Corr
0.73	LUCD	Lucid Diagnostics Buyout Trend	Pair Corr
0.68	LUNG	Pulmonx Corp	Pair Corr
0.61	NVRO	Nevro Corp	Pair Corr
0.44	INMD	InMode	Pair Corr
0.42	NYXH	Nyxoah	Pair Corr
0.76	BRK-A	Berkshire Hathaway	Pair Corr
0.76	BRK-B	Berkshire Hathaway	Pair Corr
0.68	NHNCF	NAVER Corp	Pair Corr
0.68	FWEDF	Fireweed Zinc	Pair Corr
0.48	TRGGF	Tarachi Gold Corp	Pair Corr
0.46	PKX	POSCO Holdings	Pair Corr

Related Correlations Analysis

	EWTX	HOWL	CGEM	DSGN	IKNA
EWTX		0.53	0.51	0.56	0.45	EWTX
HOWL	0.53		0.83	0.61	0.88	HOWL
CGEM	0.51	0.83		0.69	0.89	CGEM
DSGN	0.56	0.61	0.69		0.64	DSGN
IKNA	0.45	0.88	0.89	0.64		IKNA
	EWTX	HOWL	CGEM	DSGN	IKNA

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Risk-Adjusted Indicators

There is a big difference between Biomea Stock performing well and Biomea Fusion 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 Biomea Fusion'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
EWTX	2.97	(0.11)	(0.15)	5.32	(7.61)	26.44
HOWL	2.81	(0.58)	(0.54)	6.08	(7.57)	23.66
CGEM	2.61	(0.47)	(0.82)	5.13	(6.43)	15.27
DSGN	4.42	(0.32)	(0.49)	9.45	(11.01)	26.51
IKNA	2.01	(0.35)	(0.88)	4.65	(3.73)	16.13

Biomea Fusion Corporate Management

Juan MD	Chief Officer	Profile
Caroline Dupont	Senior Contracts	Profile
Alex Cacovean	Vice Sciences	Profile
Naomi Cretcher	Chief Officer	Profile
Heow Tan	Chief Officer	Profile
Stephan MD	Chief Officer	Profile

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