Tyra Biosciences Correlations

TYRA Stock

USD 10.69 0.25 2.29%

The current 90-days correlation between Tyra Biosciences and Mineralys Therapeutics, Common is -0.03 (i.e., Good 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

Modest diversification

The correlation between Tyra Biosciences and DJI is 0.26 (i.e., Modest 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

0.72	EYEN	Eyenovia	Pair Corr
0.7	IPA	Immunoprecise Antibodies	Pair Corr
0.8	MOLN	Molecular Partners	Pair Corr
0.7	SNDL	SNDL Inc	Pair Corr
0.84	CLDX	Celldex Therapeutics	Pair Corr
0.69	ELMD	Electromed	Pair Corr
0.82	GKOS	Glaukos Corp	Pair Corr
0.75	ITGR	Integer Holdings Corp	Pair Corr
0.79	LIVN	LivaNova PLC	Pair Corr
0.8	MODD	Modular Medical	Pair Corr
0.74	OTRK	Ontrak Inc	Pair Corr
0.76	APYX	Apyx Medical	Pair Corr
0.64	SGHT	Sight Sciences	Pair Corr
0.83	SRDX	SurModics	Pair Corr
0.81	CNMD	CONMED	Pair Corr
0.61	RKV	Rakovina Therapeutics	Pair Corr

Moving against Tyra Stock

0.86	CPIX	Cumberland Pharmaceuticals	Pair Corr
0.8	CMRX	Chimerix	Pair Corr
0.74	FNA	Paragon 28	Pair Corr
0.82	LUCD	Lucid Diagnostics	Pair Corr
0.78	INMD	InMode	Pair Corr
0.76	NVRO	Nevro Corp	Pair Corr
0.66	LUNG	Pulmonx Corp	Pair Corr
0.83	BRK-A	Berkshire Hathaway	Pair Corr
0.83	BRK-B	Berkshire Hathaway	Pair Corr
0.76	FWEDF	Fireweed Zinc	Pair Corr
0.73	NHNCF	NAVER Corp	Pair Corr
0.59	TRGGF	Tarachi Gold Corp	Pair Corr
0.52	PKX	POSCO Holdings	Pair Corr

Related Correlations Analysis

	CNTB	RAPT	XLO	MLYS	GRCL	THRX	GLUE	DSGN	ERAS	HOWL
CNTB		0.33	0.26	-0.1	0.0	0.0	0.31	0.47	0.81	0.71	CNTB
RAPT	0.33		0.32	0.17	0.0	0.0	0.16	0.38	0.4	0.27	RAPT
XLO	0.26	0.32		-0.12	0.0	0.0	0.05	0.21	0.29	0.35	XLO
MLYS	-0.1	0.17	-0.12		0.0	0.0	0.5	0.42	0.22	-0.03	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	0.31	0.16	0.05	0.5	0.0	0.0		0.57	0.52	0.59	GLUE
DSGN	0.47	0.38	0.21	0.42	0.0	0.0	0.57		0.76	0.57	DSGN
ERAS	0.81	0.4	0.29	0.22	0.0	0.0	0.52	0.76		0.81	ERAS
HOWL	0.71	0.27	0.35	-0.03	0.0	0.0	0.59	0.57	0.81		HOWL
	CNTB	RAPT	XLO	MLYS	GRCL	THRX	GLUE	DSGN	ERAS	HOWL

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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

ERAS	+ 0.81	CNTB
HOWL	+ 0.81	ERAS
ERAS	+ 0.76	DSGN
HOWL	+ 0.71	CNTB
HOWL	+ 0.59	GLUE
DSGN	+ 0.57	GLUE

High negative correlations

MLYS	- 0.12	XLO
MLYS	- 0.1	CNTB
HOWL	- 0.03	MLYS
HOWL	- 0.0	THRX
ERAS	- 0.0	THRX
DSGN	- 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	3.54	(0.59)	0.00	0.80	0.00	0.00	7.59	(7.07)	29.84
RAPT	5.38	1.12	0.19	0.25	4.43	(8.27)	9.01	(8.97)	119.01
XLO	7.45	0.71	0.08	0.35	7.51	(12.31)	11.46	(12.84)	137.08
MLYS	4.32	0.58	0.16	(0.42)	4.22	(5.10)	10.04	(8.23)	50.53
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	3.30	0.02	0.00	(0.06)	0.00	0.00	7.34	(7.40)	19.92
DSGN	4.32	(0.21)	0.00	(0.36)	0.00	0.00	9.45	(9.07)	26.51
ERAS	3.21	(0.68)	0.00	(0.55)	0.00	0.00	7.57	(8.74)	21.39
HOWL	2.76	(0.53)	0.00	(0.50)	0.00	0.00	6.08	(7.10)	23.66

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

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