10X Genomics Correlations

TXG Stock

USD 12.32 0.38 3.18%

The current 90-days correlation between 10X Genomics and Twist Bioscience Corp is 0.56 (i.e., Very weak diversification). The correlation of 10X Genomics 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.

10X Genomics Correlation With Market

Average diversification

The correlation between 10X Genomics and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 10X Genomics 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 10X Genomics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

For more detail on how to invest in 10X Stock please use our How to Invest in 10X Genomics guide.

Moving together with 10X Stock

0.71	ME	23Andme Holding	Pair Corr
0.67	VTYX	Ventyx Biosciences	Pair Corr
0.64	AIM	AIM ImmunoTech	Pair Corr
0.69	MRK	Merck Company	Pair Corr

Moving against 10X Stock

0.64	DOMH	Dominari Holdings Trending	Pair Corr
0.59	VALN	Valneva SE ADR	Pair Corr
0.51	ACB	Aurora Cannabis	Pair Corr
0.33	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	TWST	FATE	BEAM	VCYT	GH
TWST		-0.14	0.29	0.78	0.64	TWST
FATE	-0.14		0.16	-0.14	-0.57	FATE
BEAM	0.29	0.16		0.14	0.07	BEAM
VCYT	0.78	-0.14	0.14		0.65	VCYT
GH	0.64	-0.57	0.07	0.65		GH
	TWST	FATE	BEAM	VCYT	GH

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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

VCYT	+ 0.78	TWST
GH	+ 0.65	VCYT
GH	+ 0.64	TWST
BEAM	+ 0.29	TWST
BEAM	+ 0.16	FATE
VCYT	+ 0.14	BEAM

High negative correlations

GH	- 0.57	FATE
VCYT	- 0.14	FATE
FATE	- 0.14	TWST

Risk-Adjusted Indicators

There is a big difference between 10X Stock performing well and 10X Genomics 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 10X Genomics' 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
TWST	3.05	0.14	0.04	0.10	3.70	(3.20)	6.39	(6.12)	20.14
FATE	5.24	(0.59)	0.00	(0.35)	0.00	0.00	11.34	(11.47)	34.46
BEAM	3.62	0.37	0.09	1.19	3.77	(4.08)	8.04	(7.94)	20.93
VCYT	2.42	0.21	0.07	0.19	2.64	(2.56)	4.66	(4.46)	13.06
GH	2.86	0.86	0.31	0.49	2.26	(3.47)	6.32	(3.80)	29.03

10X Genomics Corporate Management

James Wilbur	Chief Officer	Profile
Mennah Moustafa	Chief Officer	Profile
Ruth Backer	Chief Officer	Profile
Florian Baumgartner	Senior Manager	Profile
Jonathan Schimmel	VP Operations	Profile
Jim Goodrich	Chief Operations	Profile

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