Biomea Fusion Correlations

BMEA Stock

USD 2.84 0.50 14.97%

The current 90-days correlation between Biomea Fusion and Werewolf Therapeutics is 0.17 (i.e., Average 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

Very weak diversification

The correlation between Biomea Fusion and DJI is 0.41 (i.e., Very 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

0.63	ILMN	Illumina	Pair Corr
0.76	KURA	Kura Oncology	Pair Corr
0.91	ABOS	Acumen Pharmaceuticals	Pair Corr
0.91	ADTX	Aditxt Inc	Pair Corr
0.73	ANAB	AnaptysBio	Pair Corr
0.93	STRO	Sutro Biopharma	Pair Corr
0.9	TCRX	Tscan Therapeutics	Pair Corr
0.73	TERN	Terns Pharmaceuticals	Pair Corr
0.73	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.63	CRSP	Crispr Therapeutics	Pair Corr
0.81	DAWN	Day One Biopharmaceu	Pair Corr
0.65	TLKMF	Telkom Indonesia Tbk	Pair Corr

Moving against Biomea Stock

0.67	PHGE	Biomx Inc	Pair Corr
0.65	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.6	GANX	Gain Therapeutics	Pair Corr
0.57	OPT	Opthea	Pair Corr
0.52	FENC	Fennec Pharmaceuticals	Pair Corr
0.51	LTRN	Lantern Pharma	Pair Corr
0.49	CUE	Cue Biopharma	Pair Corr
0.42	XFOR	X4 Pharmaceuticals	Pair Corr
0.72	CGTX	Cognition Therapeutics	Pair Corr
0.47	DBVT	DBV Technologies Earnings Call This Week	Pair Corr
0.82	SSNLF	Samsung Electronics	Pair Corr
0.69	OBI	Ondine Biomedical	Pair Corr
0.53	EC	Ecopetrol SA ADR	Pair Corr
0.5	GPI	Group 1 Automotive	Pair Corr

Related Correlations Analysis

	EWTX	HOWL	CGEM	DSGN	IKNA
EWTX		0.75	0.73	0.66	0.68	EWTX
HOWL	0.75		0.8	0.69	0.86	HOWL
CGEM	0.73	0.8		0.8	0.91	CGEM
DSGN	0.66	0.69	0.8		0.74	DSGN
IKNA	0.68	0.86	0.91	0.74		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	2.69	(0.25)	0.28	4.81	(7.21)	26.44
HOWL	2.86	(0.37)	(2.51)	6.74	(5.10)	18.29
CGEM	2.46	(0.62)	(1.52)	4.98	(6.27)	15.27
DSGN	4.19	(0.06)	(0.07)	8.72	(11.01)	26.51
IKNA	1.75	(0.28)	(0.38)	3.87	(3.73)	16.13

Biomea Fusion Corporate Management

Juan MD	Chief Officer	Profile
Caroline Dupont	Senior Contracts	Profile
Naomi Cretcher	Chief Officer	Profile
Heow Tan	Chief Officer	Profile
Stephan MD	Chief Officer	Profile
Franco Valle	CFO Officer	Profile

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