Immunovant Correlations

IMVT Stock

USD 18.88 0.09 0.48%

The current 90-days correlation between Immunovant and Arcutis Biotherapeutics is 0.37 (i.e., Weak diversification). The correlation of Immunovant 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.

Immunovant Correlation With Market

Modest diversification

The correlation between Immunovant and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Immunovant 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 Immunovant. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

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

Moving together with Immunovant Stock

0.77	ME	23Andme Holding	Pair Corr
0.82	VANI	Vivani Medical Earnings Call This Week	Pair Corr
0.87	VERA	Vera Therapeutics	Pair Corr
0.78	DSGN	Design Therapeutics Potential Growth	Pair Corr
0.87	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.94	VKTX	Viking Therapeutics	Pair Corr
0.62	VRCA	Verrica Pharmaceuticals	Pair Corr
0.73	VRDN	Viridian Therapeutics	Pair Corr
0.7	VRPX	Virpax Pharmaceuticals	Pair Corr
0.87	VTRS	Viatris	Pair Corr
0.92	VTYX	Ventyx Biosciences	Pair Corr

Moving against Immunovant Stock

0.88	VALN	Valneva SE ADR	Pair Corr
0.64	VIGL	Vigil Neuroscience	Pair Corr
0.6	DMAC	DiaMedica Therapeutics	Pair Corr
0.57	DVAX	Dynavax Technologies	Pair Corr
0.55	EQ	Equillium	Pair Corr
0.42	VERV	Verve Therapeutics	Pair Corr
0.93	VRNA	Verona Pharma PLC	Pair Corr
0.63	VSTM	Verastem	Pair Corr
0.61	EDSA	Edesa Biotech	Pair Corr
0.6	VRTX	Vertex Pharmaceuticals	Pair Corr
0.58	SRZNW	Surrozen Warrant	Pair Corr
0.52	VTVT	vTv Therapeutics	Pair Corr

Related Correlations Analysis

	ABUS	ARQT	LEGN	PTGX	ISEE	AKRO	MDGL	APLS	ETNB
ABUS		-0.36	0.28	-0.29	0.0	0.22	0.15	0.16	0.33	ABUS
ARQT	-0.36		-0.14	0.52	0.0	-0.33	0.0	0.04	-0.47	ARQT
LEGN	0.28	-0.14		0.26	0.0	0.65	0.65	-0.32	0.59	LEGN
PTGX	-0.29	0.52	0.26		0.0	0.09	0.18	-0.35	-0.13	PTGX
ISEE	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ISEE
AKRO	0.22	-0.33	0.65	0.09	0.0		0.65	-0.56	0.86	AKRO
MDGL	0.15	0.0	0.65	0.18	0.0	0.65		-0.45	0.61	MDGL
APLS	0.16	0.04	-0.32	-0.35	0.0	-0.56	-0.45		-0.25	APLS
ETNB	0.33	-0.47	0.59	-0.13	0.0	0.86	0.61	-0.25		ETNB
	ABUS	ARQT	LEGN	PTGX	ISEE	AKRO	MDGL	APLS	ETNB

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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

ETNB	+ 0.86	AKRO
AKRO	+ 0.65	LEGN
MDGL	+ 0.65	LEGN
MDGL	+ 0.65	AKRO
ETNB	+ 0.61	MDGL
ETNB	+ 0.59	LEGN

High negative correlations

APLS	- 0.56	AKRO
ETNB	- 0.47	ARQT
APLS	- 0.45	MDGL
ARQT	- 0.36	ABUS
APLS	- 0.35	PTGX
AKRO	- 0.33	ARQT

Risk-Adjusted Indicators

There is a big difference between Immunovant Stock performing well and Immunovant 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 Immunovant'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
ABUS	1.99	(0.14)	0.00	(0.25)	0.00	0.00	4.08	(5.01)	12.89
ARQT	4.03	0.47	0.12	0.58	3.90	(5.15)	9.51	(6.81)	22.69
LEGN	2.45	0.03	0.05	(0.46)	2.95	(2.66)	6.15	(5.44)	14.84
PTGX	2.79	0.41	0.24	(0.38)	2.45	(3.34)	3.48	(3.74)	50.66
ISEE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AKRO	4.34	1.19	0.33	0.60	2.98	(6.03)	4.92	(5.64)	104.81
MDGL	3.01	0.31	0.07	0.17	3.98	(3.04)	7.64	(5.66)	23.14
APLS	2.17	(0.39)	0.00	(0.48)	0.00	0.00	4.11	(4.33)	20.77
ETNB	3.82	0.42	0.08	0.14	4.11	(4.75)	10.74	(8.41)	35.21

Immunovant Corporate Management

Jay Stout	Chief Officer	Profile
Mark Levine	Chief Secretary	Profile
Lauren MBA	Vice Marketing	Profile
JD Esq	Chief Secretary	Profile
Eva MBA	Chief Officer	Profile
Julie Kirschling	Senior Management	Profile
Christine Blodgett	Senior Resources	Profile

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