Foghorn Therapeutics Correlations

FHTX Stock

USD 5.01 0.09 1.76%

The current 90-days correlation between Foghorn Therapeutics and C4 Therapeutics is 0.25 (i.e., Modest diversification). The correlation of Foghorn Therapeutics 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.

Foghorn Therapeutics Correlation With Market

Modest diversification

The correlation between Foghorn Therapeutics and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Foghorn Therapeutics 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 Foghorn Therapeutics. 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.

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

Moving together with Foghorn Stock

0.75

CRSP

Crispr Therapeutics

Pair Corr

Moving against Foghorn Stock

0.51	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.42	NAMSW	NewAmsterdam Pharma	Pair Corr
0.34	A	Agilent Technologies	Pair Corr
0.32	CUE	Cue Biopharma	Pair Corr
0.32	XFOR	X4 Pharmaceuticals	Pair Corr
0.31	GANX	Gain Therapeutics	Pair Corr
0.69	CGTX	Cognition Therapeutics	Pair Corr
0.56	SSNLF	Samsung Electronics	Pair Corr
0.56	PTITF	PT Indosat Tbk	Pair Corr
0.49	OBI	Ondine Biomedical	Pair Corr
0.31	ADUS	Addus HomeCare	Pair Corr

Related Correlations Analysis

	CCCC	CYT	PRLD	RZLT	STTK	GLUE	KYMR	NRIX	MOLN	MNOV
CCCC		0.0	0.22	0.25	-0.52	0.28	0.82	0.91	0.4	0.72	CCCC
CYT	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CYT
PRLD	0.22	0.0		0.44	-0.3	-0.31	0.2	0.2	-0.16	0.15	PRLD
RZLT	0.25	0.0	0.44		-0.07	0.11	0.33	0.25	0.04	0.27	RZLT
STTK	-0.52	0.0	-0.3	-0.07		0.16	-0.4	-0.49	-0.06	-0.34	STTK
GLUE	0.28	0.0	-0.31	0.11	0.16		0.37	0.36	0.49	0.44	GLUE
KYMR	0.82	0.0	0.2	0.33	-0.4	0.37		0.89	0.51	0.67	KYMR
NRIX	0.91	0.0	0.2	0.25	-0.49	0.36	0.89		0.49	0.74	NRIX
MOLN	0.4	0.0	-0.16	0.04	-0.06	0.49	0.51	0.49		0.21	MOLN
MNOV	0.72	0.0	0.15	0.27	-0.34	0.44	0.67	0.74	0.21		MNOV
	CCCC	CYT	PRLD	RZLT	STTK	GLUE	KYMR	NRIX	MOLN	MNOV

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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

NRIX	+ 0.91	CCCC
NRIX	+ 0.89	KYMR
KYMR	+ 0.82	CCCC
MNOV	+ 0.74	NRIX
MNOV	+ 0.72	CCCC
MNOV	+ 0.67	KYMR

High negative correlations

STTK	- 0.52	CCCC
NRIX	- 0.49	STTK
KYMR	- 0.4	STTK
MNOV	- 0.34	STTK
GLUE	- 0.31	PRLD
STTK	- 0.3	PRLD

Risk-Adjusted Indicators

There is a big difference between Foghorn Stock performing well and Foghorn Therapeutics 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 Foghorn Therapeutics' 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
CCCC	3.54	(0.75)	0.00	(0.51)	0.00	0.00	8.02	(6.60)	22.96
CYT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PRLD	5.42	(0.11)	0.00	(0.07)	0.00	0.00	16.19	(9.70)	61.66
RZLT	3.00	(0.13)	0.00	(0.10)	0.00	0.00	6.70	(6.07)	22.04
STTK	4.82	0.84	0.16	(1.35)	4.29	(6.54)	11.71	(7.20)	31.07
GLUE	3.77	(0.29)	0.00	10.35	0.00	0.00	8.40	(8.27)	23.57
KYMR	2.84	(0.41)	0.00	(0.26)	0.00	0.00	7.61	(7.08)	16.08
NRIX	2.43	(0.40)	0.00	(0.32)	0.00	0.00	6.53	(4.89)	13.29
MOLN	2.40	(0.12)	0.00	(0.09)	0.00	0.00	7.09	(4.88)	17.19
MNOV	2.44	(0.33)	0.00	0.54	0.00	0.00	6.15	(5.68)	24.62

Foghorn Therapeutics Corporate Management

Karin Hellsvik	Corporate VP	Profile
Saurabh Sewak	Vice Development	Profile
Kristian MBA	Chief Officer	Profile
Allan MD	Chief Officer	Profile
Alfonso MD	Chief Officer	Profile

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