Tscan Therapeutics Correlations

TCRX Stock

USD 1.91 0.14 6.83%

The current 90-days correlation between Tscan Therapeutics and Editas Medicine is 0.21 (i.e., Modest diversification). The correlation of Tscan 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.

Tscan Therapeutics Correlation With Market

Significant diversification

The correlation between Tscan Therapeutics and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tscan Therapeutics and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tscan 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 metropolitan statistical area.

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

Moving together with Tscan Stock

0.64	ILMN	Illumina	Pair Corr
0.69	INZY	Inozyme Pharma	Pair Corr
0.75	KURA	Kura Oncology	Pair Corr
0.93	ABOS	Acumen Pharmaceuticals	Pair Corr
0.9	ADTX	Aditxt Inc	Pair Corr
0.68	ANAB	AnaptysBio	Pair Corr
0.92	STRO	Sutro Biopharma	Pair Corr
0.76	TERN	Terns Pharmaceuticals	Pair Corr
0.83	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.64	CTMX	CytomX Therapeutics	Pair Corr
0.82	DAWN	Day One Biopharmaceu	Pair Corr
0.7	TLKMF	Telkom Indonesia Tbk	Pair Corr

Moving against Tscan Stock

0.71	PHGE	Biomx Inc	Pair Corr
0.67	OPT	Opthea	Pair Corr
0.64	LTRN	Lantern Pharma	Pair Corr
0.63	GANX	Gain Therapeutics	Pair Corr
0.53	FENC	Fennec Pharmaceuticals	Pair Corr
0.53	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.51	CUE	Cue Biopharma	Pair Corr
0.34	XFOR	X4 Pharmaceuticals	Pair Corr
0.33	A	Agilent Technologies	Pair Corr
0.62	CGTX	Cognition Therapeutics	Pair Corr
0.61	DBVT	DBV Technologies Earnings Call This Week	Pair Corr
0.32	CPRX	Catalyst Pharmaceuticals	Pair Corr
0.8	OBI	Ondine Biomedical	Pair Corr
0.77	SSNLF	Samsung Electronics	Pair Corr
0.65	EC	Ecopetrol SA ADR	Pair Corr
0.65	GPI	Group 1 Automotive	Pair Corr

Related Correlations Analysis

	BEAM	EDIT	CRBU	VERV	NTLA	FATE	REGN	NVO	SRPT	HEPA
BEAM		0.28	-0.18	0.47	0.08	-0.01	-0.11	-0.02	-0.23	-0.32	BEAM
EDIT	0.28		0.48	-0.17	0.68	0.68	0.53	0.62	-0.1	0.36	EDIT
CRBU	-0.18	0.48		-0.6	0.9	0.87	0.86	0.84	0.67	0.9	CRBU
VERV	0.47	-0.17	-0.6		-0.46	-0.45	-0.49	-0.44	-0.32	-0.79	VERV
NTLA	0.08	0.68	0.9	-0.46		0.9	0.86	0.89	0.5	0.77	NTLA
FATE	-0.01	0.68	0.87	-0.45	0.9		0.79	0.83	0.54	0.76	FATE
REGN	-0.11	0.53	0.86	-0.49	0.86	0.79		0.87	0.53	0.79	REGN
NVO	-0.02	0.62	0.84	-0.44	0.89	0.83	0.87		0.45	0.7	NVO
SRPT	-0.23	-0.1	0.67	-0.32	0.5	0.54	0.53	0.45		0.6	SRPT
HEPA	-0.32	0.36	0.9	-0.79	0.77	0.76	0.79	0.7	0.6		HEPA
	BEAM	EDIT	CRBU	VERV	NTLA	FATE	REGN	NVO	SRPT	HEPA

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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

NTLA	+ 0.9	CRBU
HEPA	+ 0.9	CRBU
FATE	+ 0.9	NTLA
NVO	+ 0.89	NTLA
FATE	+ 0.87	CRBU
NVO	+ 0.87	REGN

High negative correlations

HEPA	- 0.79	VERV
VERV	- 0.6	CRBU
REGN	- 0.49	VERV
NTLA	- 0.46	VERV
FATE	- 0.45	VERV
NVO	- 0.44	VERV

Risk-Adjusted Indicators

There is a big difference between Tscan Stock performing well and Tscan 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 Tscan 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
BEAM	3.40	0.24	0.06	0.24	3.78	(3.74)	8.04	(7.45)	21.42
EDIT	6.37	0.24	0.03	0.11	8.46	(7.74)	12.04	(9.59)	119.53
CRBU	3.00	(0.63)	0.00	(1.55)	0.00	0.00	8.22	(7.09)	17.35
VERV	5.44	0.78	0.15	0.28	4.82	(6.53)	11.24	(7.99)	36.90
NTLA	3.59	(0.32)	0.00	0.54	0.00	0.00	7.84	(7.15)	22.98
FATE	5.42	(0.71)	0.00	(0.31)	0.00	0.00	11.34	(11.47)	34.46
REGN	1.41	(0.07)	0.00	0.13	0.00	0.00	2.15	(3.61)	8.14
NVO	2.05	(0.16)	0.00	0.73	0.00	0.00	4.36	(3.62)	20.40
SRPT	1.74	0.06	0.03	(0.23)	2.19	(1.86)	3.98	(4.04)	19.63
HEPA	7.67	(1.29)	0.00	(1.46)	0.00	0.00	17.65	(11.11)	86.86

Tscan Therapeutics Corporate Management

Justin McCue	Chief Officer	Profile
Leiden MBA	Principal Treasurer	Profile
Ray Lockard	VP Quality	Profile
Ray MBA	Senior Quality	Profile
Jim Murray	Senior Operations	Profile

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