Editas Medicine Correlations

EDIT Stock

USD 1.31 0.06 4.38%

The current 90-days correlation between Editas Medicine and Beam Therapeutics is 0.16 (i.e., Average diversification). The correlation of Editas Medicine 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Editas Medicine Correlation With Market

Modest diversification

The correlation between Editas Medicine and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Editas Medicine and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Editas Medicine. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more information on how to buy Editas Stock please use our How to Invest in Editas Medicine guide.

Moving together with Editas Stock

0.63

INMD

InMode

Pair Corr

Moving against Editas Stock

0.41	IPA	Immunoprecise Antibodies	Pair Corr
0.37	EYEN	Eyenovia	Pair Corr
0.37	ELMD	Electromed	Pair Corr
0.38	MODD	Modular Medical	Pair Corr
0.35	SGHT	Sight Sciences	Pair Corr
0.31	MDAI	Spectral AI	Pair Corr
0.47	CNMD	CONMED	Pair Corr
0.4	RKV	Rakovina Therapeutics	Pair Corr
0.37	KB	KB Financial Group	Pair Corr

Related Correlations Analysis

	BEAM	CRSP	CRBU	VERV	NTLA	PRME	VRTX	DNA	ALLO	SANA
BEAM		0.67	0.16	0.27	0.49	0.34	0.13	0.17	0.44	-0.08	BEAM
CRSP	0.67		-0.18	0.41	0.14	0.11	0.39	0.15	0.33	0.1	CRSP
CRBU	0.16	-0.18		-0.25	0.81	0.79	-0.75	0.25	0.28	-0.28	CRBU
VERV	0.27	0.41	-0.25		-0.29	0.12	0.23	0.81	-0.31	0.48	VERV
NTLA	0.49	0.14	0.81	-0.29		0.7	-0.44	0.03	0.56	-0.47	NTLA
PRME	0.34	0.11	0.79	0.12	0.7		-0.66	0.5	0.42	0.05	PRME
VRTX	0.13	0.39	-0.75	0.23	-0.44	-0.66		-0.23	-0.17	0.17	VRTX
DNA	0.17	0.15	0.25	0.81	0.03	0.5	-0.23		-0.28	0.36	DNA
ALLO	0.44	0.33	0.28	-0.31	0.56	0.42	-0.17	-0.28		-0.11	ALLO
SANA	-0.08	0.1	-0.28	0.48	-0.47	0.05	0.17	0.36	-0.11		SANA
	BEAM	CRSP	CRBU	VERV	NTLA	PRME	VRTX	DNA	ALLO	SANA

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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

NTLA	+ 0.81	CRBU
DNA	+ 0.81	VERV
PRME	+ 0.79	CRBU
PRME	+ 0.7	NTLA
CRSP	+ 0.67	BEAM
ALLO	+ 0.56	NTLA

High negative correlations

VRTX	- 0.75	CRBU
VRTX	- 0.66	PRME
SANA	- 0.47	NTLA
VRTX	- 0.44	NTLA
ALLO	- 0.31	VERV
NTLA	- 0.29	VERV

Risk-Adjusted Indicators

There is a big difference between Editas Stock performing well and Editas Medicine 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 Editas Medicine'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
BEAM	3.41	(0.23)	0.00	0.76	0.00	0.00	7.58	(8.18)	23.04
CRSP	2.64	(0.02)	0.00	(0.10)	0.00	0.00	5.26	(4.81)	19.32
CRBU	2.91	(1.08)	0.00	16.19	0.00	0.00	5.19	(7.09)	17.85
VERV	4.63	0.11	0.00	(0.01)	0.00	0.00	11.11	(8.35)	30.05
NTLA	3.68	(0.56)	0.00	1.01	0.00	0.00	7.76	(7.56)	20.66
PRME	4.59	(0.56)	0.00	2.31	0.00	0.00	10.03	(9.28)	25.37
VRTX	1.32	0.16	0.08	6.51	2.52	(1.24)	2.53	(2.46)	12.31
DNA	5.84	(0.10)	0.00	(0.11)	0.00	0.00	12.92	(9.86)	31.71
ALLO	5.10	(0.05)	0.00	0.11	0.00	0.00	8.80	(8.45)	57.76
SANA	7.62	1.53	0.20	0.52	6.14	(10.59)	10.15	(11.52)	178.30

Editas Medicine Corporate Management

Bruce Eaton	Exec Officer	Profile
Cristi Barnett	Corporate Relations	Profile
Charlene JD	Executive Counsel	Profile
Michelle Robertson	Principal CFO	Profile

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