Abcellera Biologics Correlations

ABCL Stock

USD 3.74 0.03 0.80%

The current 90-days correlation between Abcellera Biologics and Celldex Therapeutics is 0.31 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Abcellera Biologics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Abcellera Biologics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Abcellera Biologics Correlation With Market

Weak diversification

The correlation between Abcellera Biologics and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Abcellera Biologics and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Abcellera Biologics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in private.

For more information on how to buy Abcellera Stock please use our How to buy in Abcellera Stock guide.

Moving together with Abcellera Stock

0.65	MAIA	MAIA Biotechnology	Pair Corr
0.61	ABSI	Absci Corp Upward Rally	Pair Corr
0.81	ALVO	Alvotech	Pair Corr

Moving against Abcellera Stock

0.75	PTN	Palatin Technologies Trending	Pair Corr
0.69	NAUT	Nautilus Biotechnology	Pair Corr
0.54	ESPR	Esperion Therapeutics	Pair Corr
0.5	600201	Jinyu Bio Technology	Pair Corr
0.49	GILD	Gilead Sciences	Pair Corr
0.35	300439	Ningbo MedicalSystem	Pair Corr
0.8	688670	Jiangsu GDK Biotechnology	Pair Corr
0.68	AMGN	Amgen Inc	Pair Corr
0.62	ABDX	Abingdon Health Plc	Pair Corr
0.58	CIZ	Cizzle Biotechnology	Pair Corr
0.83	EC	Ecopetrol SA ADR	Pair Corr
0.83	TLK	Telkom Indonesia Tbk	Pair Corr
0.79	CTMCF	Canterra Minerals	Pair Corr
0.74	OOAG	OMDA Oil	Pair Corr
0.71	KB	KB Financial Group	Pair Corr
0.57	PFG	Principal Financial	Pair Corr

Related Correlations Analysis

	CLDX	VERA	JANX	SYRE	BHVN	SION	IMNM	PHVS	XERS	NUVB
CLDX		0.8	-0.38	0.55	0.22	0.39	0.46	0.34	-0.05	0.43	CLDX
VERA	0.8		-0.43	0.78	-0.25	0.54	0.66	0.49	-0.37	0.73	VERA
JANX	-0.38	-0.43		0.01	-0.14	0.26	0.17	-0.11	0.13	0.05	JANX
SYRE	0.55	0.78	0.01		-0.48	0.87	0.91	0.39	-0.27	0.91	SYRE
BHVN	0.22	-0.25	-0.14	-0.48		-0.44	-0.47	-0.44	0.72	-0.6	BHVN
SION	0.39	0.54	0.26	0.87	-0.44		0.93	0.3	-0.13	0.8	SION
IMNM	0.46	0.66	0.17	0.91	-0.47	0.93		0.24	-0.16	0.8	IMNM
PHVS	0.34	0.49	-0.11	0.39	-0.44	0.3	0.24		-0.63	0.57	PHVS
XERS	-0.05	-0.37	0.13	-0.27	0.72	-0.13	-0.16	-0.63		-0.47	XERS
NUVB	0.43	0.73	0.05	0.91	-0.6	0.8	0.8	0.57	-0.47		NUVB
	CLDX	VERA	JANX	SYRE	BHVN	SION	IMNM	PHVS	XERS	NUVB

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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

IMNM	+ 0.93	SION
IMNM	+ 0.91	SYRE
NUVB	+ 0.91	SYRE
SION	+ 0.87	SYRE
VERA	+ 0.8	CLDX
NUVB	+ 0.8	SION

High negative correlations

XERS	- 0.63	PHVS
NUVB	- 0.6	BHVN
BHVN	- 0.48	SYRE
NUVB	- 0.47	XERS
IMNM	- 0.47	BHVN
PHVS	- 0.44	BHVN

Risk-Adjusted Indicators

There is a big difference between Abcellera Stock performing well and Abcellera Biologics 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 Abcellera Biologics' 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
CLDX	2.35	0.16	0.06	0.17	2.74	(2.42)	5.97	(4.26)	13.45
VERA	3.17	0.78	0.26	0.37	2.87	(3.77)	10.77	(5.81)	23.44
JANX	4.09	(0.15)	0.00	0.16	0.00	0.00	9.48	(6.55)	63.52
SYRE	3.62	1.04	0.31	0.48	2.87	(4.18)	10.99	(4.47)	29.33
BHVN	4.63	(0.22)	0.00	(0.24)	0.00	0.00	9.97	(7.73)	52.54
SION	3.24	0.83	0.24	0.72	3.00	(4.01)	7.92	(4.89)	42.57
IMNM	4.21	1.18	0.33	0.58	3.31	(5.35)	13.34	(5.28)	25.75
PHVS	3.17	0.31	0.05	(0.24)	3.48	(3.52)	8.92	(5.72)	27.49
XERS	2.50	(0.15)	0.00	(0.06)	0.00	0.00	4.23	(4.35)	36.05
NUVB	4.38	1.63	0.38	(0.75)	2.94	(5.52)	12.05	(6.27)	54.16

Abcellera Biologics Corporate Management

Andy Clark	Head Assurance	Profile
Veronique Lecault	COO Director	Profile
Bo Barnhart	Scientific Director	Profile
Andrew MBA	Chief Officer	Profile
EdD CEC	Senior Development	Profile
Paul Colussi	Site Technologies	Profile
JD Esq	Chief Officer	Profile

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