Ikena Oncology Correlations

IKNA Stock

USD 1.31 0.01 0.77%

The current 90-days correlation between Ikena Oncology and Xilio Development is 0.08 (i.e., Significant diversification). The correlation of Ikena Oncology 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.

Ikena Oncology Correlation With Market

Good diversification

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

For information on how to trade Ikena Stock refer to our How to Trade Ikena Stock guide.

Moving together with Ikena Stock

0.61	EYEN	Eyenovia	Pair Corr
0.67	SNDL	SNDL Inc	Pair Corr
0.61	GKOS	Glaukos Corp	Pair Corr
0.75	MDAI	Spectral AI	Pair Corr
0.66	RKV	Rakovina Therapeutics	Pair Corr

Moving against Ikena Stock

0.48	CPIX	Cumberland Pharmaceuticals	Pair Corr
0.47	CMRX	Chimerix Sell-off Trend	Pair Corr
0.46	FNA	Paragon 28	Pair Corr
0.57	INMD	InMode	Pair Corr
0.55	NVRO	Nevro Corp	Pair Corr
0.52	LUCD	Lucid Diagnostics Buyout Trend	Pair Corr
0.39	LUNG	Pulmonx Corp	Pair Corr
0.63	BRK-A	Berkshire Hathaway	Pair Corr
0.63	BRK-B	Berkshire Hathaway	Pair Corr
0.55	PKX	POSCO Holdings	Pair Corr
0.5	TRGGF	Tarachi Gold Corp	Pair Corr
0.47	NHNCF	NAVER Corp	Pair Corr
0.43	SWZNF	Schweizerische Nationalbank	Pair Corr

Related Correlations Analysis

	EWTX	DSGN	XLO	ELYM	GLUE	HOWL	STOK	ANEB	CELC	MNOV
EWTX		0.54	-0.25	0.0	0.45	0.53	0.68	-0.18	0.24	0.52	EWTX
DSGN	0.54		-0.08	0.0	0.57	0.57	0.43	0.0	0.24	0.51	DSGN
XLO	-0.25	-0.08		0.0	-0.11	0.3	-0.15	-0.03	0.26	0.18	XLO
ELYM	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	ELYM
GLUE	0.45	0.57	-0.11	0.0		0.59	0.64	0.15	0.4	0.44	GLUE
HOWL	0.53	0.57	0.3	0.0	0.59		0.76	0.02	0.57	0.87	HOWL
STOK	0.68	0.43	-0.15	0.0	0.64	0.76		0.21	0.58	0.78	STOK
ANEB	-0.18	0.0	-0.03	0.0	0.15	0.02	0.21		0.39	0.13	ANEB
CELC	0.24	0.24	0.26	0.0	0.4	0.57	0.58	0.39		0.59	CELC
MNOV	0.52	0.51	0.18	0.0	0.44	0.87	0.78	0.13	0.59		MNOV
	EWTX	DSGN	XLO	ELYM	GLUE	HOWL	STOK	ANEB	CELC	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

MNOV	+ 0.87	HOWL
MNOV	+ 0.78	STOK
STOK	+ 0.76	HOWL
STOK	+ 0.68	EWTX
STOK	+ 0.64	GLUE
HOWL	+ 0.59	GLUE

High negative correlations

XLO	- 0.25	EWTX
ANEB	- 0.18	EWTX
STOK	- 0.15	XLO
GLUE	- 0.11	XLO
XLO	- 0.08	DSGN
ANEB	- 0.03	XLO

Risk-Adjusted Indicators

There is a big difference between Ikena Stock performing well and Ikena Oncology 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 Ikena Oncology'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
EWTX	2.94	(0.08)	0.00	(0.13)	0.00	0.00	5.32	(7.61)	26.44
DSGN	4.32	(0.21)	0.00	(0.36)	0.00	0.00	9.45	(9.07)	26.51
XLO	6.88	0.46	0.06	0.55	7.47	(11.28)	11.40	(12.26)	137.08
ELYM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GLUE	3.30	0.02	0.00	(0.06)	0.00	0.00	7.34	(7.40)	19.92
HOWL	2.76	(0.53)	0.00	(0.50)	0.00	0.00	6.08	(7.10)	23.66
STOK	3.45	(0.38)	0.00	(0.32)	0.00	0.00	7.03	(9.08)	20.29
ANEB	5.50	0.93	0.16	0.56	4.79	(7.81)	19.58	(9.76)	40.87
CELC	3.20	(0.20)	0.00	2.48	0.00	0.00	6.28	(7.81)	21.63
MNOV	2.24	(0.44)	0.00	(0.64)	0.00	0.00	5.35	(5.24)	16.27

Ikena Oncology Corporate Management

Navin MS	VP Quality	Profile
Sabine Ruppel	VP Discovery	Profile
Jennifer Schroeder	Sr Operations	Profile
Rebecca Cohen	Corporate Relations	Profile
Valdas Jurkauskas	Senior Operations	Profile
MBA MD	Chief Officer	Profile
David MS	Senior Operations	Profile

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