Nkarta Correlations

NKTX Stock

USD 1.52 0.01 0.65%

The current 90-days correlation between Nkarta Inc and Lyell Immunopharma is 0.32 (i.e., Weak diversification). The correlation of Nkarta 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.

Nkarta Correlation With Market

Average diversification

The correlation between Nkarta Inc and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nkarta Inc 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 Nkarta Inc. 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.

Moving together with Nkarta Stock

0.74	A	Agilent Technologies	Pair Corr
0.9	ME	23Andme Holding	Pair Corr
0.78	VANI	Vivani Medical Earnings Call This Week	Pair Corr
0.84	DNLI	Denali Therapeutics	Pair Corr
0.84	VCEL	Vericel Corp Ord	Pair Corr
0.87	VCYT	Veracyte	Pair Corr
0.73	VERA	Vera Therapeutics	Pair Corr
0.66	DRTS	Alpha Tau Medical	Pair Corr
0.65	CDIOW	Cardio Diagnostics	Pair Corr
0.65	SABSW	SAB Biotherapeutics	Pair Corr
0.7	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.68	VKTX	Viking Therapeutics	Pair Corr
0.67	VRAX	Virax Biolabs Group	Pair Corr
0.81	VRDN	Viridian Therapeutics	Pair Corr
0.83	VRPX	Virpax Pharmaceuticals	Pair Corr
0.82	VTRS	Viatris	Pair Corr
0.85	VTYX	Ventyx Biosciences	Pair Corr

Moving against Nkarta Stock

0.81	DVAX	Dynavax Technologies	Pair Corr
0.7	VALN	Valneva SE ADR	Pair Corr
0.33	VIGL	Vigil Neuroscience	Pair Corr
0.31	EQ	Equillium	Pair Corr
0.74	VRTX	Vertex Pharmaceuticals	Pair Corr
0.71	VRNA	Verona Pharma PLC	Pair Corr
0.57	EDSA	Edesa Biotech	Pair Corr
0.51	VTVT	vTv Therapeutics	Pair Corr
0.49	VNDA	Vanda Pharmaceuticals	Pair Corr
0.45	VSTM	Verastem	Pair Corr
0.35	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.32	SRZNW	Surrozen Warrant	Pair Corr

Related Correlations Analysis

	GLUE	LYEL	GBIO	SANA	PASG	BDTX	TCRR	HARP	ALEC
GLUE		0.45	0.55	-0.53	0.53	0.32	0.0	0.0	0.56	GLUE
LYEL	0.45		0.19	-0.3	0.27	-0.04	0.0	0.0	0.42	LYEL
GBIO	0.55	0.19		-0.38	0.92	0.57	0.0	0.0	0.81	GBIO
SANA	-0.53	-0.3	-0.38		-0.32	0.13	0.0	0.0	-0.26	SANA
PASG	0.53	0.27	0.92	-0.32		0.61	0.0	0.0	0.88	PASG
BDTX	0.32	-0.04	0.57	0.13	0.61		0.0	0.0	0.64	BDTX
TCRR	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	TCRR
HARP	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HARP
ALEC	0.56	0.42	0.81	-0.26	0.88	0.64	0.0	0.0		ALEC
	GLUE	LYEL	GBIO	SANA	PASG	BDTX	TCRR	HARP	ALEC

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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

PASG	+ 0.92	GBIO
ALEC	+ 0.88	PASG
ALEC	+ 0.81	GBIO
ALEC	+ 0.64	BDTX
BDTX	+ 0.61	PASG
BDTX	+ 0.57	GBIO

High negative correlations

SANA	- 0.53	GLUE
SANA	- 0.38	GBIO
PASG	- 0.32	SANA
SANA	- 0.3	LYEL
ALEC	- 0.26	SANA
BDTX	- 0.04	LYEL

Risk-Adjusted Indicators

There is a big difference between Nkarta Stock performing well and Nkarta 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 Nkarta'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
GLUE	3.51	(0.31)	0.00	(0.33)	0.00	0.00	7.34	(8.27)	19.92
LYEL	3.99	(0.75)	0.00	(0.72)	0.00	0.00	6.56	(9.23)	20.34
GBIO	3.79	(1.00)	0.00	(0.78)	0.00	0.00	7.41	(7.89)	22.69
SANA	7.75	1.34	0.16	0.40	6.70	(10.89)	10.15	(12.82)	176.41
PASG	4.14	(0.49)	0.00	(0.47)	0.00	0.00	7.69	(8.96)	56.48
BDTX	3.78	(0.26)	0.00	(0.23)	0.00	0.00	5.92	(7.35)	29.04
TCRR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HARP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALEC	3.40	(0.57)	0.00	(0.48)	0.00	0.00	7.60	(5.82)	23.91

Nkarta Corporate Management

Ralph Brandenberger	Chief Officer	Profile
Nadir Mahmood	Chief Officer	Profile
Greg Mann	Vice Relations	Profile
Yvonne MBA	Chief Officer	Profile
Alicia Hager	Chief Secretary	Profile
James Trager	Chief Officer	Profile

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