Prothena Plc Correlations

PRTA Stock

USD 16.01 4.06 33.97%

The current 90-days correlation between Prothena plc and Seres Therapeutics is 0.27 (i.e., Modest diversification). The correlation of Prothena Plc 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.

Prothena Plc Correlation With Market

Weak diversification

The correlation between Prothena plc and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prothena plc 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 Prothena plc. 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 information on how to trade Prothena Stock refer to our How to Trade Prothena Stock guide.

Moving together with Prothena Stock

0.75	VALN	Valneva SE ADR Upward Rally	Pair Corr
0.81	ERNA	Eterna Therapeutics	Pair Corr
0.71	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.66	LLY	Eli Lilly	Pair Corr
0.74	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.74	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.69	INBX	Inhibrx Symbol Change	Pair Corr
0.7	SXTPW	60 Degrees Pharmaceu	Pair Corr
0.74	MRVI	Maravai Lifesciences	Pair Corr
0.78	REGN	Regeneron Pharmaceuticals	Pair Corr
0.61	ABBV	AbbVie Inc	Pair Corr
0.65	AKAN	Akanda Corp	Pair Corr
0.81	AMGN	Amgen Inc	Pair Corr
0.73	APGE	Apogee Therapeutics,	Pair Corr
0.62	AVDL	Avadel Pharmaceuticals	Pair Corr
0.82	SMMT	Summit Therapeutics PLC Buyout Trend	Pair Corr

Moving against Prothena Stock

0.73	BMY	Bristol Myers Squibb	Pair Corr
0.62	ESPR	Esperion Therapeutics	Pair Corr
0.56	DYAI	Dyadic International	Pair Corr
0.54	GILD	Gilead Sciences	Pair Corr
0.4	MNMD	Mind Medicine	Pair Corr
0.39	ABCL	Abcellera Biologics	Pair Corr
0.67	TARS	Tarsus Pharmaceuticals	Pair Corr

Related Correlations Analysis

	SCPH	MIST	ONCY	MCRB	LIFE	ETNB	MDGL	PLRX	ACLX	STOK
SCPH		-0.68	0.36	0.36	0.13	-0.09	-0.64	-0.22	-0.09	0.49	SCPH
MIST	-0.68		-0.59	-0.12	-0.05	0.54	0.81	0.27	0.41	0.0	MIST
ONCY	0.36	-0.59		-0.42	0.1	-0.01	-0.41	0.19	0.16	0.0	ONCY
MCRB	0.36	-0.12	-0.42		0.02	-0.24	-0.2	-0.26	-0.45	0.16	MCRB
LIFE	0.13	-0.05	0.1	0.02		-0.1	-0.14	-0.22	0.07	0.03	LIFE
ETNB	-0.09	0.54	-0.01	-0.24	-0.1		0.67	0.57	0.76	0.41	ETNB
MDGL	-0.64	0.81	-0.41	-0.2	-0.14	0.67		0.44	0.38	0.06	MDGL
PLRX	-0.22	0.27	0.19	-0.26	-0.22	0.57	0.44		0.44	0.22	PLRX
ACLX	-0.09	0.41	0.16	-0.45	0.07	0.76	0.38	0.44		0.28	ACLX
STOK	0.49	0.0	0.0	0.16	0.03	0.41	0.06	0.22	0.28		STOK
	SCPH	MIST	ONCY	MCRB	LIFE	ETNB	MDGL	PLRX	ACLX	STOK

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

MDGL	+ 0.81	MIST
ACLX	+ 0.76	ETNB
MDGL	+ 0.67	ETNB
PLRX	+ 0.57	ETNB
ETNB	+ 0.54	MIST
STOK	+ 0.49	SCPH

High negative correlations

MIST	- 0.68	SCPH
MDGL	- 0.64	SCPH
ONCY	- 0.59	MIST
ACLX	- 0.45	MCRB
MCRB	- 0.42	ONCY
MDGL	- 0.41	ONCY

Risk-Adjusted Indicators

There is a big difference between Prothena Stock performing well and Prothena Plc 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 Prothena Plc'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
SCPH	2.98	(0.72)	0.00	(0.48)	0.00	0.00	5.07	(7.09)	20.70
MIST	1.88	0.17	0.06	0.22	2.23	(2.50)	6.90	(3.61)	19.58
ONCY	3.71	0.09	0.02	(0.52)	3.64	(5.66)	9.41	(7.23)	36.56
MCRB	4.79	(0.02)	0.00	(0.02)	5.52	(5.86)	10.84	(9.78)	28.84
LIFE	2.57	0.40	0.12	(2.88)	2.62	(3.23)	6.45	(5.29)	28.98
ETNB	2.78	(0.07)	0.00	(0.54)	0.00	0.00	5.01	(6.35)	27.43
MDGL	2.68	0.42	0.17	0.73	2.18	(3.57)	5.17	(3.96)	30.27
PLRX	3.02	0.12	0.04	0.08	3.23	(3.38)	5.37	(5.67)	24.35
ACLX	2.66	(0.01)	(0.01)	0.00	3.49	(2.85)	6.28	(6.79)	16.07
STOK	2.65	(0.43)	0.00	(0.20)	0.00	0.00	5.57	(5.30)	21.35

Prothena Plc Corporate Management

Hideki MD	Chief Officer	Profile
CPA CPA	Chief Controller	Profile
Jennifer Zibuda	Director Communication	Profile
Brandon Smith	Chief Officer	Profile
Wagner Zago	Chief Scientific Officer	Profile
Carol Karp	Chief Regulatory Officer	Profile
David Ford	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