Zura Bio Correlations

ZURA Stock

1.28 0.05 3.76%

The current 90-days correlation between Zura Bio Limited and Codexis is 0.05 (i.e., Significant diversification). The correlation of Zura Bio 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.

Zura Bio Correlation With Market

Good diversification

The correlation between Zura Bio Limited and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zura Bio Limited and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zura Bio Limited. 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.

Moving together with Zura Stock

0.69	TERN	Terns Pharmaceuticals	Pair Corr
0.61	CRNX	Crinetics Pharmaceuticals Earnings Call Tomorrow	Pair Corr
0.85	CTMX	CytomX Therapeutics	Pair Corr
0.83	EMBC	Embecta Corp	Pair Corr

Moving against Zura Stock

0.46	OPT	Opthea Earnings Call Tomorrow	Pair Corr
0.37	GANX	Gain Therapeutics	Pair Corr
0.35	LTRN	Lantern Pharma	Pair Corr
0.34	PHGE	Biomx Inc	Pair Corr
0.37	ELV	Elevance Health	Pair Corr
0.61	EC	Ecopetrol SA ADR Earnings Call Tomorrow	Pair Corr
0.59	OBI	Ondine Biomedical	Pair Corr
0.53	WPM	Wheaton Precious Metals	Pair Corr
0.48	T	ATT Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	UAN	HIHO	SXT	GFF	BAK	PPG	HNI	CDXS
UAN		-0.04	0.0	0.41	0.47	-0.16	0.08	0.04	UAN
HIHO	-0.04		-0.51	-0.38	-0.54	-0.08	0.01	0.45	HIHO
SXT	0.0	-0.51		0.64	0.63	0.6	0.5	-0.01	SXT
GFF	0.41	-0.38	0.64		0.83	0.43	0.7	0.05	GFF
BAK	0.47	-0.54	0.63	0.83		0.47	0.56	-0.07	BAK
PPG	-0.16	-0.08	0.6	0.43	0.47		0.72	0.33	PPG
HNI	0.08	0.01	0.5	0.7	0.56	0.72		0.53	HNI
CDXS	0.04	0.45	-0.01	0.05	-0.07	0.33	0.53		CDXS
	UAN	HIHO	SXT	GFF	BAK	PPG	HNI	CDXS

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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

BAK	+ 0.83	GFF
HNI	+ 0.72	PPG
HNI	+ 0.7	GFF
GFF	+ 0.64	SXT
BAK	+ 0.63	SXT
PPG	+ 0.6	SXT

High negative correlations

BAK	- 0.54	HIHO
SXT	- 0.51	HIHO
GFF	- 0.38	HIHO
PPG	- 0.16	UAN
PPG	- 0.08	HIHO
CDXS	- 0.07	BAK

Risk-Adjusted Indicators

There is a big difference between Zura Stock performing well and Zura Bio 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 Zura Bio's 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
UAN	1.20	0.16	0.11	(6.05)	1.14	(1.35)	3.38	(1.70)	12.05
HIHO	0.99	(0.01)	(0.01)	(0.13)	1.41	(1.16)	2.69	(2.62)	8.40
SXT	1.11	(0.13)	0.00	(0.12)	0.00	0.00	1.92	(2.24)	11.22
GFF	1.38	(0.23)	0.00	(0.15)	0.00	0.00	2.23	(3.20)	12.08
BAK	2.73	(0.27)	0.00	(0.26)	0.00	0.00	5.61	(5.91)	20.47
PPG	1.12	(0.11)	0.00	(0.14)	0.00	0.00	2.56	(2.26)	8.61
HNI	1.32	(0.28)	0.00	(0.18)	0.00	0.00	3.19	(3.67)	8.91
CDXS	3.03	(0.18)	0.00	(0.51)	0.00	0.00	7.51	(6.89)	23.04

Zura Bio Corporate Management

Gary Whale	Chief Officer	Profile
David Brady	Head Development	Profile
Kiran MBBS	Chief Development	Profile
Kimberly Davis	Chief Secretary	Profile
Theresa Lowry	Chief Officer	Profile
Verender Badial	Chief Officer	Profile
Michael Howell	Chief Medicine	Profile

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