Ginkgo Bioworks Correlations

DNA Stock

USD 6.85 0.55 7.43%

The current 90-days correlation between Ginkgo Bioworks Holdings and Day One Biopharmaceuticals is 0.36 (i.e., Weak diversification). The correlation of Ginkgo Bioworks 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.

Ginkgo Bioworks Correlation With Market

Good diversification

The correlation between Ginkgo Bioworks Holdings and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ginkgo Bioworks Holdings and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Ginkgo Bioworks Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Ginkgo Stock

0.64	GNLX	Genelux Common	Pair Corr
0.74	CDXS	Codexis	Pair Corr
0.66	CMPX	Compass Therapeutics	Pair Corr
0.64	DAWN	Day One Biopharmaceu	Pair Corr
0.63	HD	Home Depot	Pair Corr

Moving against Ginkgo Stock

0.5	MCK	McKesson	Pair Corr
0.31	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	DAWN	XFOR	ABOS	MREO	TERN	PDSB	HOOK	ELDN	AMLX
DAWN		0.9	0.87	0.62	0.72	0.23	0.42	0.91	-0.59	DAWN
XFOR	0.9		0.88	0.42	0.58	0.07	0.27	0.9	-0.79	XFOR
ABOS	0.87	0.88		0.59	0.77	0.39	0.5	0.89	-0.58	ABOS
MREO	0.62	0.42	0.59		0.85	0.59	0.51	0.68	0.05	MREO
TERN	0.72	0.58	0.77	0.85		0.69	0.73	0.83	-0.14	TERN
PDSB	0.23	0.07	0.39	0.59	0.69		0.72	0.4	0.31	PDSB
HOOK	0.42	0.27	0.5	0.51	0.73	0.72		0.5	-0.06	HOOK
ELDN	0.91	0.9	0.89	0.68	0.83	0.4	0.5		-0.54	ELDN
AMLX	-0.59	-0.79	-0.58	0.05	-0.14	0.31	-0.06	-0.54		AMLX
	DAWN	XFOR	ABOS	MREO	TERN	PDSB	HOOK	ELDN	AMLX

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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

ELDN	+ 0.91	DAWN
XFOR	+ 0.9	DAWN
ELDN	+ 0.9	XFOR
ELDN	+ 0.89	ABOS
ABOS	+ 0.88	XFOR
ABOS	+ 0.87	DAWN

High negative correlations

AMLX	- 0.79	XFOR
AMLX	- 0.59	DAWN
AMLX	- 0.58	ABOS
AMLX	- 0.54	ELDN
AMLX	- 0.14	TERN
AMLX	- 0.06	HOOK

Risk-Adjusted Indicators

There is a big difference between Ginkgo Stock performing well and Ginkgo Bioworks 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 Ginkgo Bioworks' 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
DAWN	3.79	(0.87)	0.00	2.19	0.00	0.00	7.30	(7.02)	22.66
XFOR	4.64	(2.14)	0.00	54.06	0.00	0.00	7.26	(12.20)	27.97
ABOS	3.85	(0.34)	0.00	(2.64)	0.00	0.00	7.84	(7.62)	25.32
MREO	3.49	(0.31)	0.00	0.82	0.00	0.00	7.33	(7.20)	19.17
TERN	4.20	(0.38)	0.00	(1.08)	0.00	0.00	7.94	(7.83)	21.70
PDSB	4.70	0.29	0.07	(13.34)	5.39	(5.14)	8.94	(9.24)	33.91
HOOK	5.20	0.12	0.03	1.51	5.60	(6.47)	13.10	(8.70)	52.09
ELDN	2.94	(0.57)	0.00	1.74	0.00	0.00	5.67	(6.34)	22.26
AMLX	4.23	0.87	0.17	0.59	4.46	(4.72)	10.74	(8.54)	26.02

Ginkgo Bioworks Corporate Management

Anna Wagner	Senior Development	Profile
Samantha Sutton	Head People	Profile
Joaquim Marques	Head Chemistry	Profile
Mark Dmytruk	Chief Officer	Profile
Reshma Shetty	President, Founder	Profile
Joshua Dunn	Head Design	Profile
Thomas Knight	Founder	Profile

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