Relay Therapeutics Correlations

RLAY Stock

USD 3.75 0.07 1.90%

The current 90-days correlation between Relay Therapeutics and Stoke Therapeutics is 0.14 (i.e., Average diversification). The correlation of Relay 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.

Relay Therapeutics Correlation With Market

Average diversification

The correlation between Relay Therapeutics and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Relay 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 Relay 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 nation.

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

Moving together with Relay Stock

0.72

ILMN

Illumina

Pair Corr

Moving against Relay Stock

0.57	PHGE	Biomx Inc	Pair Corr
0.43	FENC	Fennec Pharmaceuticals	Pair Corr
0.43	OPT	Opthea	Pair Corr
0.33	GANX	Gain Therapeutics	Pair Corr
0.64	KO	Coca Cola Aggressive Push	Pair Corr
0.56	T	ATT Inc Aggressive Push	Pair Corr
0.56	MCD	McDonalds	Pair Corr
0.49	EC	Ecopetrol SA ADR	Pair Corr

Related Correlations Analysis

	STOK	PLRX	BDTX	ARVN	DAWN	MRTX	AMLX	TERN	APLS	THRX
STOK		0.54	0.55	0.57	0.58	0.0	0.63	0.71	0.52	0.0	STOK
PLRX	0.54		0.27	0.49	0.57	0.0	0.55	0.77	0.64	0.0	PLRX
BDTX	0.55	0.27		0.41	0.48	0.0	0.46	0.21	-0.02	0.0	BDTX
ARVN	0.57	0.49	0.41		0.83	0.0	0.93	0.63	0.36	0.0	ARVN
DAWN	0.58	0.57	0.48	0.83		0.0	0.87	0.63	0.4	0.0	DAWN
MRTX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	MRTX
AMLX	0.63	0.55	0.46	0.93	0.87	0.0		0.7	0.36	0.0	AMLX
TERN	0.71	0.77	0.21	0.63	0.63	0.0	0.7		0.75	0.0	TERN
APLS	0.52	0.64	-0.02	0.36	0.4	0.0	0.36	0.75		0.0	APLS
THRX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		THRX
	STOK	PLRX	BDTX	ARVN	DAWN	MRTX	AMLX	TERN	APLS	THRX

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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

AMLX	+ 0.93	ARVN
AMLX	+ 0.87	DAWN
DAWN	+ 0.83	ARVN
TERN	+ 0.77	PLRX
APLS	+ 0.75	TERN
TERN	+ 0.71	STOK

High negative correlations

APLS	- 0.02	BDTX
THRX	- 0.0	APLS
THRX	- 0.0	TERN
THRX	- 0.0	AMLX
THRX	- 0.0	MRTX
APLS	- 0.0	MRTX

Risk-Adjusted Indicators

There is a big difference between Relay Stock performing well and Relay 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 Relay 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
STOK	3.37	(0.42)	0.00	6.99	0.00	0.00	7.03	(9.08)	27.59
PLRX	4.91	(1.34)	0.00	(1.09)	0.00	0.00	10.38	(8.16)	72.98
BDTX	3.54	(0.22)	0.00	(0.19)	0.00	0.00	5.02	(6.45)	29.04
ARVN	3.27	(0.34)	0.00	(0.22)	0.00	0.00	6.13	(6.68)	23.09
DAWN	1.83	(0.13)	0.00	(0.30)	0.00	0.00	3.92	(3.28)	10.17
MRTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AMLX	3.30	(0.76)	0.00	(0.80)	0.00	0.00	5.85	(7.94)	16.76
TERN	3.21	(0.67)	0.00	0.53	0.00	0.00	5.17	(6.98)	26.61
APLS	2.46	0.12	0.03	2.01	3.60	(2.66)	4.84	(4.54)	27.73
THRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Relay Therapeutics Corporate Management

Deborah Palestrant	Vice Strategy	Profile
MA MBA	Pres CEO	Profile
Thomas Catinazzo	Chief Officer	Profile
Andy Porter	Chief Officer	Profile
Jim Watters	Chief Research	Profile

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