EnGene Holdings Correlations

ENGN Etf

USD 4.70 0.17 3.75%

The current 90-days correlation between enGene Holdings Common and Prime Medicine, Common is 0.22 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as EnGene Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if enGene Holdings Common moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

EnGene Holdings Correlation With Market

Modest diversification

The correlation between enGene Holdings Common 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 enGene Holdings Common 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 enGene Holdings Common. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with EnGene Etf

0.75	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.82	ME	23Andme Holding	Pair Corr
0.73	VANI	Vivani Medical	Pair Corr
0.76	DNLI	Denali Therapeutics	Pair Corr
0.8	VCEL	Vericel Corp Ord	Pair Corr
0.82	VCYT	Veracyte	Pair Corr
0.71	DRTS	Alpha Tau Medical	Pair Corr
0.62	SABSW	SAB Biotherapeutics	Pair Corr
0.75	VRAX	Virax Biolabs Group	Pair Corr
0.62	VRCA	Verrica Pharmaceuticals	Pair Corr
0.67	VRDN	Viridian Therapeutics	Pair Corr
0.79	VRPX	Virpax Pharmaceuticals	Pair Corr
0.68	VTYX	Ventyx Biosciences	Pair Corr

Moving against EnGene Etf

0.52	VALN	Valneva SE ADR	Pair Corr
0.79	DVAX	Dynavax Technologies	Pair Corr
0.69	VRTX	Vertex Pharmaceuticals	Pair Corr
0.59	EDSA	Edesa Biotech	Pair Corr
0.56	VRNA	Verona Pharma PLC	Pair Corr
0.5	VNDA	Vanda Pharmaceuticals	Pair Corr
0.33	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.33	VTVT	vTv Therapeutics	Pair Corr
0.32	VSTM	Verastem	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.01	0.57	-0.52	0.29	0.43	0.3	0.91	-0.73	-0.04	META
MSFT	-0.01		-0.6	-0.02	-0.8	0.72	0.88	0.12	0.42	-0.56	MSFT
UBER	0.57	-0.6		-0.23	0.81	-0.28	-0.52	0.54	-0.84	0.57	UBER
F	-0.52	-0.02	-0.23		0.06	-0.14	-0.2	-0.41	0.44	0.42	F
T	0.29	-0.8	0.81	0.06		-0.6	-0.72	0.19	-0.65	0.61	T
A	0.43	0.72	-0.28	-0.14	-0.6		0.82	0.57	0.13	-0.38	A
CRM	0.3	0.88	-0.52	-0.2	-0.72	0.82		0.35	0.22	-0.62	CRM
JPM	0.91	0.12	0.54	-0.41	0.19	0.57	0.35		-0.63	0.0	JPM
MRK	-0.73	0.42	-0.84	0.44	-0.65	0.13	0.22	-0.63		-0.35	MRK
XOM	-0.04	-0.56	0.57	0.42	0.61	-0.38	-0.62	0.0	-0.35		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.91	META
CRM	+ 0.88	MSFT
CRM	+ 0.82	A
T	+ 0.81	UBER
A	+ 0.72	MSFT
XOM	+ 0.61	T

High negative correlations

MRK	- 0.84	UBER
T	- 0.8	MSFT
MRK	- 0.73	META
CRM	- 0.72	T
MRK	- 0.65	T
MRK	- 0.63	JPM

EnGene Holdings Competition Risk-Adjusted Indicators

There is a big difference between EnGene Etf performing well and EnGene Holdings ETF 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 EnGene Holdings' 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
META	1.63	0.03	0.01	0.02	2.30	(1.45)	2.96	(3.73)	8.90
MSFT	1.11	(0.21)	0.00	(0.24)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.89	0.35	0.15	0.55	2.08	(2.07)	4.72	(3.13)	12.75
F	1.44	0.10	0.05	0.09	2.16	(1.40)	2.71	(2.88)	10.14
T	0.99	0.29	0.17	0.54	1.45	(1.12)	1.90	(1.55)	11.66
A	1.16	(0.19)	0.00	(0.18)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.29)	0.00	(0.24)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.14	0.06	0.03	0.24	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.24	(0.18)	0.00	1.61	0.00	0.00	2.07	(2.25)	11.58
XOM	1.03	0.13	0.09	0.29	1.29	(1.05)	2.55	(2.36)	5.89

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