Tenaya Therapeutics Correlations

TNYA Stock

USD 0.64 0.02 3.03%

The current 90-days correlation between Tenaya Therapeutics and IGM Biosciences is -0.04 (i.e., Good diversification). The correlation of Tenaya 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.

Tenaya Therapeutics Correlation With Market

Weak diversification

The correlation between Tenaya Therapeutics and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tenaya 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 Tenaya 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 manufacturing.

For information on how to trade Tenaya Stock refer to our How to Trade Tenaya Stock guide.

Moving together with Tenaya Stock

0.75	CDIOW	Cardio Diagnostics	Pair Corr
0.67	ELVN	Enliven Therapeutics	Pair Corr
0.73	SCLX	Scilex Holding	Pair Corr
0.76	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.82	CDIO	Cardio Diagnostics	Pair Corr
0.74	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.77	MSFT	Microsoft	Pair Corr

Moving against Tenaya Stock

0.68	GE	GE Aerospace	Pair Corr
0.67	WM	Waste Management	Pair Corr
0.66	LUCD	Lucid Diagnostics	Pair Corr
0.59	PLX	Protalix Biotherapeutics	Pair Corr
0.42	PG	Procter Gamble	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr
0.71	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.7	MMM	3M Company	Pair Corr
0.6	IBM	International Business	Pair Corr
0.54	CSCO	Cisco Systems	Pair Corr
0.48	CVX	Chevron Corp	Pair Corr
0.38	XOM	Exxon Mobil Corp	Pair Corr
0.31	INTC	Intel	Pair Corr

Related Correlations Analysis

	BCYC	IGMS	GLUE	STOK	BMEA	AKRO	FIXX	GOSS	RANI	VINC
BCYC		0.73	0.33	0.69	0.83	-0.62	0.0	-0.8	-0.34	0.86	BCYC
IGMS	0.73		0.64	0.54	0.52	-0.63	0.0	-0.59	-0.2	0.85	IGMS
GLUE	0.33	0.64		0.62	0.29	-0.06	0.0	-0.13	0.23	0.38	GLUE
STOK	0.69	0.54	0.62		0.75	-0.13	0.0	-0.58	-0.06	0.52	STOK
BMEA	0.83	0.52	0.29	0.75		-0.41	0.0	-0.72	-0.17	0.63	BMEA
AKRO	-0.62	-0.63	-0.06	-0.13	-0.41		0.0	0.62	0.43	-0.79	AKRO
FIXX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	FIXX
GOSS	-0.8	-0.59	-0.13	-0.58	-0.72	0.62	0.0		0.62	-0.74	GOSS
RANI	-0.34	-0.2	0.23	-0.06	-0.17	0.43	0.0	0.62		-0.39	RANI
VINC	0.86	0.85	0.38	0.52	0.63	-0.79	0.0	-0.74	-0.39		VINC
	BCYC	IGMS	GLUE	STOK	BMEA	AKRO	FIXX	GOSS	RANI	VINC

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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

VINC	+ 0.86	BCYC
VINC	+ 0.85	IGMS
BMEA	+ 0.83	BCYC
BMEA	+ 0.75	STOK
IGMS	+ 0.73	BCYC
STOK	+ 0.69	BCYC

High negative correlations

GOSS	- 0.8	BCYC
VINC	- 0.79	AKRO
VINC	- 0.74	GOSS
GOSS	- 0.72	BMEA
AKRO	- 0.63	IGMS
AKRO	- 0.62	BCYC

Risk-Adjusted Indicators

There is a big difference between Tenaya Stock performing well and Tenaya 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 Tenaya 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
BCYC	2.59	(0.52)	0.00	(0.68)	0.00	0.00	4.86	(6.07)	21.30
IGMS	4.81	(1.80)	0.00	(0.85)	0.00	0.00	5.64	(8.55)	71.93
GLUE	3.56	(0.22)	0.00	(0.26)	0.00	0.00	7.34	(7.69)	19.92
STOK	3.45	(0.39)	0.00	(0.32)	0.00	0.00	7.03	(9.08)	20.29
BMEA	3.88	(0.72)	0.00	(0.37)	0.00	0.00	6.48	(8.98)	24.41
AKRO	4.30	1.28	0.36	0.70	2.89	(5.76)	4.92	(5.64)	104.81
FIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GOSS	4.35	0.83	0.16	0.52	4.62	(4.96)	9.84	(7.62)	21.24
RANI	3.90	0.15	0.02	0.01	4.28	(4.80)	7.69	(8.09)	28.29
VINC	6.79	(2.14)	0.00	1.24	0.00	0.00	13.02	(19.08)	97.80

Tenaya Therapeutics Corporate Management

Deepak MD	Chairman Founder	Profile
Saptarsi MD	Scientific Founder	Profile
Chihiro Saito	Senior Officer	Profile
Tomohiro MBA	Senior Officer	Profile
KeeHong Kim	Chief Officer	Profile
Jennifer JD	General Secretary	Profile

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