IO Biotech Correlations

IOBT Stock

USD 0.90 0.02 2.17%

The current 90-days correlation between IO Biotech and Pmv Pharmaceuticals is 0.06 (i.e., Significant diversification). The correlation of IO Biotech 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.

IO Biotech Correlation With Market

Significant diversification

The correlation between IO Biotech and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IO Biotech 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 IO Biotech. 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 IOBT Stock please use our How to Invest in IO Biotech guide.

Moving against IOBT Stock

0.32	DRTS	Alpha Tau Medical	Pair Corr
0.32	VINC	Vincerx Pharma	Pair Corr
0.37	SRZNW	Surrozen Warrant	Pair Corr

Related Correlations Analysis

	PMVP	ELYM	MNOV	PHVS	PEPG	PRDS	STTK	CSBR	IPSC	GPCR
PMVP		0.0	0.9	0.67	0.58	0.0	-0.06	-0.23	0.84	0.33	PMVP
ELYM	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ELYM
MNOV	0.9	0.0		0.78	0.51	0.0	-0.24	-0.22	0.88	0.53	MNOV
PHVS	0.67	0.0	0.78		0.45	0.0	-0.45	-0.16	0.76	0.57	PHVS
PEPG	0.58	0.0	0.51	0.45		0.0	-0.28	-0.66	0.78	-0.04	PEPG
PRDS	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	PRDS
STTK	-0.06	0.0	-0.24	-0.45	-0.28	0.0		0.14	-0.33	-0.44	STTK
CSBR	-0.23	0.0	-0.22	-0.16	-0.66	0.0	0.14		-0.35	0.01	CSBR
IPSC	0.84	0.0	0.88	0.76	0.78	0.0	-0.33	-0.35		0.32	IPSC
GPCR	0.33	0.0	0.53	0.57	-0.04	0.0	-0.44	0.01	0.32		GPCR
	PMVP	ELYM	MNOV	PHVS	PEPG	PRDS	STTK	CSBR	IPSC	GPCR

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.9	PMVP
IPSC	+ 0.88	MNOV
IPSC	+ 0.84	PMVP
PHVS	+ 0.78	MNOV
IPSC	+ 0.78	PEPG
IPSC	+ 0.76	PHVS

High negative correlations

CSBR	- 0.66	PEPG
STTK	- 0.45	PHVS
GPCR	- 0.44	STTK
IPSC	- 0.35	CSBR
IPSC	- 0.33	STTK
STTK	- 0.28	PEPG

Risk-Adjusted Indicators

There is a big difference between IOBT Stock performing well and IO Biotech 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 IO Biotech'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
PMVP	1.82	(0.22)	0.00	(0.30)	0.00	0.00	4.41	(3.31)	16.42
ELYM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MNOV	2.22	(0.51)	0.00	(0.80)	0.00	0.00	5.35	(5.24)	16.27
PHVS	2.31	(0.19)	0.00	1.27	0.00	0.00	5.62	(3.84)	14.29
PEPG	8.27	(0.18)	0.00	(0.15)	0.00	0.00	19.62	(13.91)	92.48
PRDS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
STTK	5.34	0.56	0.07	0.44	6.60	(6.77)	11.71	(8.40)	50.15
CSBR	4.14	0.58	0.13	1.45	4.64	(4.55)	9.97	(8.06)	29.24
IPSC	2.96	(1.08)	0.00	(0.74)	0.00	0.00	5.88	(7.48)	17.02
GPCR	3.54	(0.42)	0.00	5.86	0.00	0.00	5.64	(8.73)	25.66

IO Biotech Corporate Management

MaiBritt Zocca	President, Founder	Profile
Qasim MD	Chief Officer	Profile
Faical Miyara	Chief Officer	Profile
Brian CPA	Chief Officer	Profile
Amy Sullivan	Chief Officer	Profile
Anders Ljungqvist	Founder	Profile
Brian Burkavage	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC