Leap Therapeutics Correlations

LPTX Stock

USD 0.40 0.01 2.44%

The current 90-days correlation between Leap Therapeutics and Elevation Oncology is 0.1 (i.e., Average diversification). The correlation of Leap Therapeutics 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.

Leap Therapeutics Correlation With Market

Significant diversification

The correlation between Leap Therapeutics and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Leap Therapeutics 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 Leap Therapeutics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

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

Moving together with Leap Stock

0.67	CDIOW	Cardio Diagnostics	Pair Corr
0.73	ELVN	Enliven Therapeutics	Pair Corr
0.8	SCLX	Scilex Holding	Pair Corr
0.83	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.78	CDIO	Cardio Diagnostics	Pair Corr
0.79	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.71	MSFT	Microsoft	Pair Corr
0.72	MRK	Merck Company	Pair Corr

Moving against Leap Stock

0.93	WM	Waste Management	Pair Corr
0.91	GE	GE Aerospace	Pair Corr
0.82	LUCD	Lucid Diagnostics	Pair Corr
0.71	PLX	Protalix Biotherapeutics	Pair Corr
0.6	PG	Procter Gamble	Pair Corr
0.9	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.9	IBM	International Business	Pair Corr
0.88	MMM	3M Company	Pair Corr
0.87	JNJ	Johnson Johnson	Pair Corr
0.74	CSCO	Cisco Systems	Pair Corr
0.6	CVX	Chevron Corp	Pair Corr
0.51	INTC	Intel	Pair Corr
0.49	XOM	Exxon Mobil Corp	Pair Corr
0.45	DD	Dupont De Nemours	Pair Corr
0.4	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	XFOR	TERN	DAWN	PDSB	INZY	EFTR	ELEV	MREO	HEPA	HOOK
XFOR		0.85	0.81	0.84	0.82	0.0	0.58	0.87	0.76	0.77	XFOR
TERN	0.85		0.74	0.89	0.93	0.0	0.53	0.9	0.89	0.78	TERN
DAWN	0.81	0.74		0.7	0.59	0.0	0.72	0.74	0.65	0.94	DAWN
PDSB	0.84	0.89	0.7		0.82	0.0	0.47	0.8	0.72	0.73	PDSB
INZY	0.82	0.93	0.59	0.82		0.0	0.37	0.89	0.89	0.59	INZY
EFTR	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	EFTR
ELEV	0.58	0.53	0.72	0.47	0.37	0.0		0.6	0.6	0.71	ELEV
MREO	0.87	0.9	0.74	0.8	0.89	0.0	0.6		0.87	0.72	MREO
HEPA	0.76	0.89	0.65	0.72	0.89	0.0	0.6	0.87		0.68	HEPA
HOOK	0.77	0.78	0.94	0.73	0.59	0.0	0.71	0.72	0.68		HOOK
	XFOR	TERN	DAWN	PDSB	INZY	EFTR	ELEV	MREO	HEPA	HOOK

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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

HOOK	+ 0.94	DAWN
INZY	+ 0.93	TERN
MREO	+ 0.9	TERN
PDSB	+ 0.89	TERN
HEPA	+ 0.89	TERN
MREO	+ 0.89	INZY

High negative correlations

HOOK	- 0.0	EFTR
HEPA	- 0.0	EFTR
MREO	- 0.0	EFTR
ELEV	- 0.0	EFTR
EFTR	- 0.0	INZY
EFTR	- 0.0	PDSB

Risk-Adjusted Indicators

There is a big difference between Leap Stock performing well and Leap Therapeutics 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 Leap Therapeutics' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
XFOR	6.27	(0.67)	(1.77)	10.87	(13.51)	68.45
TERN	3.05	(0.92)	(1.16)	5.03	(6.98)	19.13
DAWN	2.87	(0.52)	(0.64)	6.36	(6.67)	22.86
PDSB	4.54	(0.22)	(0.38)	9.21	(9.22)	33.91
INZY	4.07	(1.42)	(0.89)	6.82	(9.17)	36.29
EFTR	0.00	0.00	0.00	0.00	0.00	0.00
ELEV	5.06	(0.69)	(0.53)	8.33	(9.43)	68.94
MREO	2.65	(0.57)	(0.84)	6.16	(6.32)	20.77
HEPA	9.87	(3.91)	(5.38)	16.37	(31.39)	90.05
HOOK	3.63	(0.68)	(5.15)	7.00	(7.50)	32.80

Leap Therapeutics Corporate Management

Augustine Lawlor	Chief Officer	Profile
Cynthia MD	Chief Officer	Profile
Christine Granfield	VP Quality	Profile
Mark OMahony	Chief Officer	Profile
Jason Baum	Chief Officer	Profile
Cynthia Sirard	Chief Officer	Profile

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