Legend Biotech Correlations

LEGN Stock

USD 36.95 0.77 2.04%

The current 90-days correlation between Legend Biotech Corp and Vaxcyte is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Legend Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Legend Biotech Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Legend Biotech Correlation With Market

Good diversification

The correlation between Legend Biotech Corp and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Legend Biotech Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Legend Biotech Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Legend Stock

0.7	GE	GE Aerospace	Pair Corr
0.67	MMM	3M Company	Pair Corr
0.66	IBM	International Business	Pair Corr

Moving against Legend Stock

0.51	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.51	CDIO	Cardio Diagnostics	Pair Corr
0.46	SCLX	Scilex Holding	Pair Corr
0.45	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.38	CDIOW	Cardio Diagnostics	Pair Corr
0.35	CMND	Clearmind Medicine Common	Pair Corr
0.32	ELVN	Enliven Therapeutics	Pair Corr
0.53	MRK	Merck Company	Pair Corr
0.36	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	PCVX	APLS	TVTX	AKRO	ISEE	BPMC	AMLX	KRTX	DAWN	ZLAB
PCVX		0.75	0.04	-0.17	0.0	0.66	0.31	0.0	0.89	-0.81	PCVX
APLS	0.75		-0.41	-0.54	0.0	0.15	0.6	0.0	0.83	-0.82	APLS
TVTX	0.04	-0.41		0.75	0.0	0.3	-0.42	0.0	-0.05	0.26	TVTX
AKRO	-0.17	-0.54	0.75		0.0	0.18	-0.34	0.0	-0.27	0.49	AKRO
ISEE	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ISEE
BPMC	0.66	0.15	0.3	0.18	0.0		-0.21	0.0	0.45	-0.46	BPMC
AMLX	0.31	0.6	-0.42	-0.34	0.0	-0.21		0.0	0.28	-0.27	AMLX
KRTX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	KRTX
DAWN	0.89	0.83	-0.05	-0.27	0.0	0.45	0.28	0.0		-0.87	DAWN
ZLAB	-0.81	-0.82	0.26	0.49	0.0	-0.46	-0.27	0.0	-0.87		ZLAB
	PCVX	APLS	TVTX	AKRO	ISEE	BPMC	AMLX	KRTX	DAWN	ZLAB

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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

DAWN	+ 0.89	PCVX
DAWN	+ 0.83	APLS
APLS	+ 0.75	PCVX
AKRO	+ 0.75	TVTX
BPMC	+ 0.66	PCVX
AMLX	+ 0.6	APLS

High negative correlations

ZLAB	- 0.87	DAWN
ZLAB	- 0.82	APLS
ZLAB	- 0.81	PCVX
AKRO	- 0.54	APLS
ZLAB	- 0.46	BPMC
AMLX	- 0.42	TVTX

Risk-Adjusted Indicators

There is a big difference between Legend Stock performing well and Legend 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 Legend 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
PCVX	2.23	(0.12)	0.00	(0.17)	0.00	0.00	3.86	(4.85)	19.90
APLS	2.14	(0.37)	0.00	(0.43)	0.00	0.00	4.11	(4.33)	20.77
TVTX	2.90	0.44	0.12	0.18	2.98	(3.62)	6.29	(4.94)	20.04
AKRO	4.30	1.28	0.36	0.70	2.89	(5.76)	4.92	(5.64)	104.81
ISEE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BPMC	2.13	0.05	0.00	(0.03)	0.00	0.00	5.39	(4.23)	26.30
AMLX	3.64	0.00	0.00	(0.06)	0.00	0.00	7.20	(9.09)	21.45
KRTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DAWN	2.87	(0.52)	0.00	(0.64)	0.00	0.00	6.36	(6.67)	22.86
ZLAB	2.35	0.48	0.17	6.17	2.75	(2.43)	5.70	(5.27)	17.40

Legend Biotech Corporate Management

Elaine Qian	VP Resources	Profile
James JD	General Counsel	Profile
Lori CPA	Chief Officer	Profile
Birk Vanderweeen	Senior Supply	Profile
Tina Carter	Corporate Lead	Profile
Steven Gavel	US Development	Profile

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