Connect Biopharma Correlations

CNTB Stock

USD 0.78 0.03 3.70%

The current 90-days correlation between Connect Biopharma and Assembly Biosciences is -0.06 (i.e., Good diversification). The correlation of Connect Biopharma 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.

Connect Biopharma Correlation With Market

Average diversification

The correlation between Connect Biopharma Holdings and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Connect Biopharma Holdings 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 Connect Biopharma Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Connect Stock

0.66	CDIOW	Cardio Diagnostics	Pair Corr
0.68	ELVN	Enliven Therapeutics	Pair Corr
0.76	SCLX	Scilex Holding	Pair Corr
0.88	ASMB	Assembly Biosciences Downward Rally	Pair Corr
0.64	CDIO	Cardio Diagnostics	Pair Corr
0.72	CMND	Clearmind Medicine Common	Pair Corr
0.68	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.66	MSFT	Microsoft	Pair Corr

Moving against Connect Stock

0.81	WM	Waste Management	Pair Corr
0.78	LUCD	Lucid Diagnostics	Pair Corr
0.66	GE	GE Aerospace	Pair Corr
0.54	PG	Procter Gamble	Pair Corr
0.4	PLX	Protalix Biotherapeutics	Pair Corr
0.85	JNJ	Johnson Johnson	Pair Corr
0.83	T	ATT Inc Aggressive Push	Pair Corr
0.69	IBM	International Business	Pair Corr
0.67	MMM	3M Company	Pair Corr
0.62	CVX	Chevron Corp	Pair Corr
0.58	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.55	INTC	Intel	Pair Corr
0.51	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.4	DD	Dupont De Nemours	Pair Corr

Related Correlations Analysis

	ASMB	NLTX	TIL	CTMX	ACHL	NXTC	NUVB	OVID
ASMB		0.0	0.32	0.87	-0.78	0.79	0.87	0.88	ASMB
NLTX	0.0		0.0	0.0	0.0	0.0	0.0	0.0	NLTX
TIL	0.32	0.0		0.33	-0.31	0.3	0.37	0.27	TIL
CTMX	0.87	0.0	0.33		-0.87	0.81	0.87	0.97	CTMX
ACHL	-0.78	0.0	-0.31	-0.87		-0.84	-0.82	-0.89	ACHL
NXTC	0.79	0.0	0.3	0.81	-0.84		0.75	0.84	NXTC
NUVB	0.87	0.0	0.37	0.87	-0.82	0.75		0.89	NUVB
OVID	0.88	0.0	0.27	0.97	-0.89	0.84	0.89		OVID
	ASMB	NLTX	TIL	CTMX	ACHL	NXTC	NUVB	OVID

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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

OVID	+ 0.97	CTMX
OVID	+ 0.89	NUVB
OVID	+ 0.88	ASMB
CTMX	+ 0.87	ASMB
NUVB	+ 0.87	ASMB
NUVB	+ 0.87	CTMX

High negative correlations

OVID	- 0.89	ACHL
ACHL	- 0.87	CTMX
NXTC	- 0.84	ACHL
NUVB	- 0.82	ACHL
ACHL	- 0.78	ASMB
ACHL	- 0.31	TIL

Risk-Adjusted Indicators

There is a big difference between Connect Stock performing well and Connect Biopharma 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 Connect Biopharma'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
ASMB	3.00	(0.27)	0.00	(0.29)	0.00	0.00	6.63	(4.74)	24.82
NLTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TIL	5.70	(0.02)	0.00	0.00	6.04	(6.49)	13.25	(9.64)	34.30
CTMX	3.62	(0.82)	0.00	(0.35)	0.00	0.00	7.32	(7.46)	17.13
ACHL	1.59	0.66	0.46	(0.74)	0.49	(2.95)	3.47	(1.74)	22.77
NXTC	3.48	(0.61)	0.00	(0.38)	0.00	0.00	6.74	(7.23)	21.57
NUVB	3.25	(0.46)	0.00	(0.39)	0.00	0.00	6.88	(7.38)	28.03
OVID	3.40	(1.27)	0.00	(1.44)	0.00	0.00	6.06	(9.37)	20.77

Connect Biopharma Corporate Management

Raul Collazo	VP Affairs	Profile
Kimberly Manhard	Chief Officer	Profile
Malinda Longphre	Head Operations	Profile
Jeff JD	General Secretary	Profile

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