Tyra Biosciences Correlations

TYRA Stock

USD 12.20 0.17 1.41%

The current 90-days correlation between Tyra Biosciences and Mineralys Therapeutics, Common is 0.39 (i.e., Weak diversification). The correlation of Tyra Biosciences 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.

Tyra Biosciences Correlation With Market

Average diversification

The correlation between Tyra Biosciences 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 Tyra Biosciences 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 Tyra Biosciences. 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 information on how to trade Tyra Stock refer to our How to Trade Tyra Stock guide.

Moving together with Tyra Stock

0.87	ILMN	Illumina	Pair Corr
0.7	ABOS	Acumen Pharmaceuticals	Pair Corr
0.67	ADUS	Addus HomeCare	Pair Corr

Moving against Tyra Stock

0.67	FENC	Fennec Pharmaceuticals	Pair Corr
0.64	OPT	Opthea	Pair Corr
0.59	PHGE	Biomx Inc	Pair Corr
0.46	LTRN	Lantern Pharma	Pair Corr
0.4	GANX	Gain Therapeutics	Pair Corr
0.79	T	ATT Inc Aggressive Push	Pair Corr
0.77	COST	Costco Wholesale Corp	Pair Corr
0.74	KO	Coca Cola Aggressive Push	Pair Corr
0.7	EC	Ecopetrol SA ADR	Pair Corr

Related Correlations Analysis

	CNTB	RAPT	XLO	MLYS	GRCL	THRX	GLUE	DSGN	ERAS	HOWL
CNTB		0.33	0.14	0.55	0.0	0.0	0.34	0.55	0.64	0.35	CNTB
RAPT	0.33		0.15	0.17	0.0	0.0	-0.16	0.18	0.06	-0.1	RAPT
XLO	0.14	0.15		0.23	0.0	0.0	0.14	0.15	0.23	0.29	XLO
MLYS	0.55	0.17	0.23		0.0	0.0	0.78	0.88	0.88	0.84	MLYS
GRCL	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	GRCL
THRX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	THRX
GLUE	0.34	-0.16	0.14	0.78	0.0	0.0		0.67	0.76	0.91	GLUE
DSGN	0.55	0.18	0.15	0.88	0.0	0.0	0.67		0.81	0.69	DSGN
ERAS	0.64	0.06	0.23	0.88	0.0	0.0	0.76	0.81		0.82	ERAS
HOWL	0.35	-0.1	0.29	0.84	0.0	0.0	0.91	0.69	0.82		HOWL
	CNTB	RAPT	XLO	MLYS	GRCL	THRX	GLUE	DSGN	ERAS	HOWL

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

HOWL	+ 0.91	GLUE
DSGN	+ 0.88	MLYS
ERAS	+ 0.88	MLYS
HOWL	+ 0.84	MLYS
HOWL	+ 0.82	ERAS
ERAS	+ 0.81	DSGN

High negative correlations

GLUE	- 0.16	RAPT
HOWL	- 0.1	RAPT
HOWL	- 0.0	THRX
ERAS	- 0.0	THRX
DSGN	- 0.0	THRX
GLUE	- 0.0	THRX

Risk-Adjusted Indicators

There is a big difference between Tyra Stock performing well and Tyra Biosciences 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 Tyra Biosciences' 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
CNTB	3.68	(0.10)	0.00	(0.13)	0.00	0.00	8.00	(7.48)	29.84
RAPT	5.36	0.81	0.14	0.17	4.73	(8.48)	9.09	(9.09)	119.01
XLO	7.60	0.93	0.12	(0.60)	7.21	(13.49)	12.00	(12.84)	137.08
MLYS	3.38	(0.34)	0.00	(0.89)	0.00	0.00	7.79	(6.02)	21.81
GRCL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
THRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GLUE	3.77	(0.29)	0.00	10.35	0.00	0.00	8.40	(8.27)	23.57
DSGN	4.19	(0.06)	0.00	(0.07)	0.00	0.00	8.72	(11.01)	26.51
ERAS	3.24	(0.93)	0.00	2.92	0.00	0.00	4.48	(8.74)	26.76
HOWL	2.86	(0.37)	0.00	(2.51)	0.00	0.00	6.74	(5.10)	18.29

Tyra Biosciences Corporate Management

CPA CPA	Chief Officer	Profile
Sarah Honig	Vice Strategy	Profile
Erik Goluboff	Senior Development	Profile
Amy Conrad	Investor Contact	Profile
Douglas MD	Chief Officer	Profile
Hiroomi MD	Chief Officer	Profile
Lynn Scherm	F Director	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