Protagonist Therapeutics Correlations

PTGX Stock

USD 51.05 1.48 2.82%

The current 90-days correlation between Protagonist Therapeutics and Revolution Medicines is -0.16 (i.e., Good diversification). The correlation of Protagonist 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.

Protagonist Therapeutics Correlation With Market

Very good diversification

The correlation between Protagonist Therapeutics and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Protagonist Therapeutics 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 Protagonist 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 price.

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

Moving against Protagonist Stock

0.67	CDIOW	Cardio Diagnostics	Pair Corr
0.67	WMT	Walmart	Pair Corr
0.62	ASMB	Assembly Biosciences Earnings Call Today	Pair Corr
0.59	CMND	Clearmind Medicine Common	Pair Corr
0.54	OCEAW	Ocean Biomedical	Pair Corr
0.45	SCLX	Scilex Holding	Pair Corr
0.39	MLSS	Milestone Scientific Earnings Call Tomorrow	Pair Corr
0.33	ABUS	Arbutus Biopharma Corp	Pair Corr
0.88	DIS	Walt Disney	Pair Corr
0.78	HD	Home Depot	Pair Corr
0.6	MSFT	Microsoft Aggressive Push	Pair Corr
0.57	JPM	JPMorgan Chase	Pair Corr
0.47	BA	Boeing	Pair Corr
0.47	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	RVMD	AKRO	RNA	STOK	KURA	MRUS	REPL	CERE	RLAY	PLRX
RVMD		-0.27	0.26	0.78	0.81	-0.48	0.34	0.0	0.72	0.76	RVMD
AKRO	-0.27		0.59	-0.1	-0.04	0.28	0.59	0.0	-0.36	-0.59	AKRO
RNA	0.26	0.59		0.45	0.46	0.02	0.52	0.0	0.07	-0.1	RNA
STOK	0.78	-0.1	0.45		0.81	-0.66	0.44	0.0	0.71	0.74	STOK
KURA	0.81	-0.04	0.46	0.81		-0.31	0.45	0.0	0.45	0.52	KURA
MRUS	-0.48	0.28	0.02	-0.66	-0.31		-0.23	0.0	-0.73	-0.68	MRUS
REPL	0.34	0.59	0.52	0.44	0.45	-0.23		0.0	0.33	0.01	REPL
CERE	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	CERE
RLAY	0.72	-0.36	0.07	0.71	0.45	-0.73	0.33	0.0		0.84	RLAY
PLRX	0.76	-0.59	-0.1	0.74	0.52	-0.68	0.01	0.0	0.84		PLRX
	RVMD	AKRO	RNA	STOK	KURA	MRUS	REPL	CERE	RLAY	PLRX

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

PLRX	+ 0.84	RLAY
KURA	+ 0.81	RVMD
KURA	+ 0.81	STOK
STOK	+ 0.78	RVMD
PLRX	+ 0.76	RVMD
PLRX	+ 0.74	STOK

High negative correlations

RLAY	- 0.73	MRUS
PLRX	- 0.68	MRUS
MRUS	- 0.66	STOK
PLRX	- 0.59	AKRO
MRUS	- 0.48	RVMD
RLAY	- 0.36	AKRO

Risk-Adjusted Indicators

There is a big difference between Protagonist Stock performing well and Protagonist 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 Protagonist 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RVMD	1.77	(0.23)	0.00	(0.16)	0.00	0.00	4.37	(5.89)	11.35
AKRO	4.25	1.07	0.32	0.54	2.89	(5.77)	4.92	(5.64)	104.81
RNA	2.94	0.02	0.01	0.02	3.13	(3.63)	7.22	(4.79)	20.15
STOK	3.54	(0.58)	0.00	(0.33)	0.00	0.00	7.03	(9.08)	20.29
KURA	2.44	(0.43)	0.00	(0.53)	0.00	0.00	5.18	(5.91)	13.72
MRUS	1.96	0.09	0.03	0.94	2.54	(2.07)	3.84	(3.67)	11.65
REPL	2.82	(0.08)	0.00	(0.06)	0.00	0.00	5.86	(4.75)	23.59
CERE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RLAY	4.12	(0.52)	0.00	(0.27)	0.00	0.00	6.27	(7.87)	26.72
PLRX	6.36	(2.22)	0.00	(0.52)	0.00	0.00	10.39	(14.98)	80.84

Protagonist Therapeutics Corporate Management

Newman Yeilding	Chief EVP	Profile
Mohammad Masjedizadeh	Executive Officer	Profile
Abha Bommireddi	Executive Management	Profile
Matthew JD	Executive Counsel	Profile
Matthew Gosling	Executive Counsel	Profile
Richard Shames	Chief Medical 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