Inhibrx Correlations

INBX Stock

USD 14.00 0.06 0.43%

The current 90-days correlation between Inhibrx and Lyell Immunopharma is 0.28 (i.e., Modest diversification). The correlation of Inhibrx 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.

Inhibrx Correlation With Market

Modest diversification

The correlation between Inhibrx and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Inhibrx 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 Inhibrx. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

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

Moving together with Inhibrx Stock

0.65	VERA	Vera Therapeutics	Pair Corr
0.77	DSGN	Design Therapeutics	Pair Corr
0.74	VINC	Vincerx Pharma	Pair Corr
0.72	VKTX	Viking Therapeutics	Pair Corr
0.62	DYAI	Dyadic International Earnings Call This Week	Pair Corr

Moving against Inhibrx Stock

0.68	VIGL	Vigil Neuroscience	Pair Corr
0.59	DMAC	DiaMedica Therapeutics	Pair Corr
0.59	VALN	Valneva SE ADR	Pair Corr
0.52	VERV	Verve Therapeutics	Pair Corr
0.31	DTIL	Precision BioSciences Earnings Call This Week	Pair Corr
0.63	VRNA	Verona Pharma PLC	Pair Corr
0.53	SRZNW	Surrozen Warrant	Pair Corr
0.43	VRTX	Vertex Pharmaceuticals	Pair Corr
0.43	VTVT	vTv Therapeutics Trending	Pair Corr
0.32	EDSA	Edesa Biotech	Pair Corr

Related Correlations Analysis

	CRNX	MRUS	LYEL	KRON	OPT	MLYS	ELYM	ANEB	MACK	CELC
CRNX		-0.2	0.4	0.05	-0.45	0.54	0.0	0.2	0.0	0.65	CRNX
MRUS	-0.2		0.41	-0.37	-0.32	0.32	0.0	-0.48	0.0	-0.39	MRUS
LYEL	0.4	0.41		0.18	-0.35	0.31	0.0	-0.3	0.0	0.05	LYEL
KRON	0.05	-0.37	0.18		0.43	-0.3	0.0	0.3	0.0	0.32	KRON
OPT	-0.45	-0.32	-0.35	0.43		-0.66	0.0	0.14	0.0	0.11	OPT
MLYS	0.54	0.32	0.31	-0.3	-0.66		0.0	0.13	0.0	0.21	MLYS
ELYM	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ELYM
ANEB	0.2	-0.48	-0.3	0.3	0.14	0.13	0.0		0.0	0.44	ANEB
MACK	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	MACK
CELC	0.65	-0.39	0.05	0.32	0.11	0.21	0.0	0.44	0.0		CELC
	CRNX	MRUS	LYEL	KRON	OPT	MLYS	ELYM	ANEB	MACK	CELC

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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

CELC	+ 0.65	CRNX
MLYS	+ 0.54	CRNX
CELC	+ 0.44	ANEB
OPT	+ 0.43	KRON
LYEL	+ 0.41	MRUS
LYEL	+ 0.4	CRNX

High negative correlations

MLYS	- 0.66	OPT
ANEB	- 0.48	MRUS
OPT	- 0.45	CRNX
CELC	- 0.39	MRUS
KRON	- 0.37	MRUS
OPT	- 0.35	LYEL

Risk-Adjusted Indicators

There is a big difference between Inhibrx Stock performing well and Inhibrx 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 Inhibrx'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
CRNX	2.71	(0.59)	0.00	(0.84)	0.00	0.00	3.78	(7.53)	21.52
MRUS	1.96	0.12	0.09	(0.51)	2.52	(2.11)	4.91	(4.03)	12.66
LYEL	3.93	(0.61)	0.00	(0.64)	0.00	0.00	6.56	(9.23)	17.43
KRON	1.69	(0.10)	0.00	(0.23)	0.00	0.00	3.19	(3.03)	12.10
OPT	4.37	0.33	0.03	0.04	6.72	(4.61)	8.61	(7.55)	44.59
MLYS	4.15	0.15	0.08	(0.18)	4.56	(4.87)	10.04	(8.23)	50.53
ELYM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ANEB	5.11	0.40	0.06	0.18	5.31	(6.76)	19.58	(10.43)	40.87
MACK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CELC	3.01	(0.20)	0.00	(0.39)	0.00	0.00	6.28	(7.81)	21.63

Inhibrx Corporate Management

Leah JD	Corporate VP	Profile
Mark Lappe	Chairman, Founder	Profile
Charbel PharmD	Vice Planning	Profile
BS CPA	Chief Officer	Profile
Jeffrey Jensen	Executive Officer	Profile
Brendan Eckelman	Executive Officer	Profile
Carlos Bais	Executive Sciences	Profile

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