Immunitybio Correlations

IBRX Stock

USD 2.83 0.07 2.54%

The current 90-days correlation between Immunitybio and Ardelyx is 0.1 (i.e., Average diversification). The correlation of Immunitybio 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.

Immunitybio Correlation With Market

Modest diversification

The correlation between Immunitybio and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Immunitybio and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Immunitybio. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Immunitybio Stock

0.69	VERV	Verve Therapeutics	Pair Corr
0.69	VIGL	Vigil Neuroscience	Pair Corr

Moving against Immunitybio Stock

0.42	DRRX	Durect Earnings Call This Week	Pair Corr
0.4	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.33	DYAI	Dyadic International Earnings Call This Week	Pair Corr

Related Correlations Analysis

	BLRX	ARDX	LXRX	MCRB	EFTR	PLX	PDSB	LIFE	ELEV
BLRX		-0.5	0.43	0.74	0.0	-0.84	0.81	0.0	0.28	BLRX
ARDX	-0.5		-0.05	-0.34	0.0	0.63	-0.34	0.0	0.11	ARDX
LXRX	0.43	-0.05		0.7	0.0	-0.12	0.61	0.0	0.72	LXRX
MCRB	0.74	-0.34	0.7		0.0	-0.49	0.78	0.0	0.49	MCRB
EFTR	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	EFTR
PLX	-0.84	0.63	-0.12	-0.49	0.0		-0.61	0.0	-0.02	PLX
PDSB	0.81	-0.34	0.61	0.78	0.0	-0.61		0.0	0.53	PDSB
LIFE	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	LIFE
ELEV	0.28	0.11	0.72	0.49	0.0	-0.02	0.53	0.0		ELEV
	BLRX	ARDX	LXRX	MCRB	EFTR	PLX	PDSB	LIFE	ELEV

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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

PDSB	+ 0.81	BLRX
PDSB	+ 0.78	MCRB
MCRB	+ 0.74	BLRX
ELEV	+ 0.72	LXRX
MCRB	+ 0.7	LXRX
PLX	+ 0.63	ARDX

High negative correlations

PLX	- 0.84	BLRX
PDSB	- 0.61	PLX
ARDX	- 0.5	BLRX
PLX	- 0.49	MCRB
PDSB	- 0.34	ARDX
MCRB	- 0.34	ARDX

Risk-Adjusted Indicators

There is a big difference between Immunitybio Stock performing well and Immunitybio 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 Immunitybio'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
BLRX	5.14	(1.24)	0.00	(2.15)	0.00	0.00	9.73	(15.04)	60.21
ARDX	3.15	0.25	0.05	0.08	4.21	(3.59)	8.32	(5.22)	27.51
LXRX	6.29	(0.03)	0.00	(0.11)	0.00	0.00	14.49	(10.26)	80.49
MCRB	3.42	0.03	0.00	(0.08)	0.00	0.00	7.81	(6.10)	35.32
EFTR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PLX	2.38	0.51	0.18	0.48	2.43	(3.23)	6.37	(4.08)	16.96
PDSB	4.66	(0.39)	0.00	(0.57)	0.00	0.00	9.21	(9.22)	33.91
LIFE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ELEV	4.48	(0.35)	0.00	(0.32)	0.00	0.00	8.33	(8.47)	40.61

Immunitybio Corporate Management

Jason JD	General Secretary	Profile
Sandeep MD	Chief Officer	Profile
Helen Luu	Chief Officer	Profile
Leonard MD	Chief Officer	Profile
Jason Liljestrom	General Secretary	Profile
Bruce MD	Senior Affairs	Profile

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