Prime Medicine, Correlations

PRME Etf

USD 1.95 0.06 2.99%

The current 90-days correlation between Prime Medicine, Common and Sana Biotechnology is -0.03 (i.e., Good diversification). The correlation of Prime Medicine, 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.

Prime Medicine, Correlation With Market

Good diversification

The correlation between Prime Medicine, Common and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prime Medicine, Common and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Prime Medicine, Common. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Prime Etf

0.69	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.81	ME	23Andme Holding	Pair Corr
0.79	VANI	Vivani Medical	Pair Corr
0.77	DNLI	Denali Therapeutics	Pair Corr
0.77	VCEL	Vericel Corp Ord	Pair Corr
0.79	VCYT	Veracyte	Pair Corr
0.78	CDIOW	Cardio Diagnostics	Pair Corr
0.78	VRAX	Virax Biolabs Group	Pair Corr
0.75	VRCA	Verrica Pharmaceuticals	Pair Corr
0.63	VRDN	Viridian Therapeutics	Pair Corr
0.8	VRPX	Virpax Pharmaceuticals	Pair Corr
0.76	VTYX	Ventyx Biosciences	Pair Corr

Moving against Prime Etf

0.55	VALN	Valneva SE ADR	Pair Corr
0.7	VRTX	Vertex Pharmaceuticals	Pair Corr
0.67	DVAX	Dynavax Technologies	Pair Corr
0.65	VNDA	Vanda Pharmaceuticals	Pair Corr
0.6	VRNA	Verona Pharma PLC Sell-off Trend	Pair Corr
0.52	VSTM	Verastem	Pair Corr
0.49	EDSA	Edesa Biotech	Pair Corr
0.32	SRZNW	Surrozen Warrant	Pair Corr
0.32	VTVT	vTv Therapeutics	Pair Corr

Related Correlations Analysis

	BEAM	CRBU	NTLA	SANA	RPHM	DNA	OCEA	RPRX	EDIT	CRSP
BEAM		0.2	0.53	0.0	0.0	0.39	-0.11	-0.01	0.55	0.76	BEAM
CRBU	0.2		0.79	-0.24	0.0	0.36	0.91	-0.9	-0.25	-0.18	CRBU
NTLA	0.53	0.79		-0.41	0.0	0.22	0.62	-0.72	0.18	0.28	NTLA
SANA	0.0	-0.24	-0.41		0.0	0.37	-0.25	0.48	0.05	0.13	SANA
RPHM	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	RPHM
DNA	0.39	0.36	0.22	0.37	0.0		0.09	-0.09	-0.09	0.16	DNA
OCEA	-0.11	0.91	0.62	-0.25	0.0	0.09		-0.9	-0.4	-0.4	OCEA
RPRX	-0.01	-0.9	-0.72	0.48	0.0	-0.09	-0.9		0.4	0.37	RPRX
EDIT	0.55	-0.25	0.18	0.05	0.0	-0.09	-0.4	0.4		0.77	EDIT
CRSP	0.76	-0.18	0.28	0.13	0.0	0.16	-0.4	0.37	0.77		CRSP
	BEAM	CRBU	NTLA	SANA	RPHM	DNA	OCEA	RPRX	EDIT	CRSP

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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

OCEA	+ 0.91	CRBU
NTLA	+ 0.79	CRBU
CRSP	+ 0.77	EDIT
CRSP	+ 0.76	BEAM
OCEA	+ 0.62	NTLA
EDIT	+ 0.55	BEAM

High negative correlations

RPRX	- 0.9	OCEA
RPRX	- 0.9	CRBU
RPRX	- 0.72	NTLA
SANA	- 0.41	NTLA
CRSP	- 0.4	OCEA
EDIT	- 0.4	OCEA

Prime Medicine, Constituents Risk-Adjusted Indicators

There is a big difference between Prime Etf performing well and Prime Medicine, ETF 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 Prime Medicine,'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
BEAM	3.43	(0.14)	0.00	(0.14)	0.00	0.00	7.58	(8.18)	23.04
CRBU	3.01	(0.84)	0.00	(0.83)	0.00	0.00	5.26	(7.09)	17.85
NTLA	3.71	(0.38)	0.00	(0.27)	0.00	0.00	7.76	(7.56)	20.66
SANA	7.58	1.60	0.22	0.58	6.09	(10.32)	10.15	(11.52)	178.30
RPHM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DNA	5.86	0.04	0.00	(0.02)	0.00	0.00	12.92	(9.86)	31.71
OCEA	7.19	(2.91)	0.00	(1.77)	0.00	0.00	15.38	(15.19)	51.00
RPRX	1.01	0.48	0.54	9.99	0.40	(1.30)	2.29	(1.45)	14.16
EDIT	6.61	0.70	0.07	0.16	7.93	(8.37)	12.20	(9.30)	119.53
CRSP	2.63	0.03	0.01	0.00	3.12	(2.71)	5.26	(4.81)	19.32

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