MacroGenics Correlations

MGNX Stock

USD 1.48 0.03 2.07%

The current 90-days correlation between MacroGenics and Bridgford Foods is 0.28 (i.e., Modest diversification). The correlation of MacroGenics 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. If the correlation is 0, the equities are not correlated; they are entirely random.

MacroGenics Correlation With Market

Good diversification

The correlation between MacroGenics and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MacroGenics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MacroGenics Stock

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

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

Moving together with MacroGenics Stock

0.76

ALVO

Alvotech

Pair Corr

Moving against MacroGenics Stock

0.69	ACW	Actinogen Medical Earnings Call This Week	Pair Corr
0.69	ABDX	Abingdon Health Plc	Pair Corr
0.64	CIZ	Cizzle Biotechnology	Pair Corr
0.53	DERM	Journey Medical Corp	Pair Corr
0.52	GGB	Gerdau SA ADR	Pair Corr
0.48	UTHR	United Therapeutics	Pair Corr
0.46	AAPL	Apple Inc	Pair Corr
0.45	SWKH	SWK Holdings Corp	Pair Corr
0.41	FR	First Industrial Realty	Pair Corr
0.39	209111FB4	CONSOLIDATED EDISON	Pair Corr
0.38	384802AD6	GRAINGER W W	Pair Corr
0.68	TVTV	WhereverTV Broadcasting	Pair Corr
0.67	GOOG	Alphabet Class C Sell-off Trend	Pair Corr
0.56	OSIS	OSI Systems	Pair Corr
0.53	CLLFF	Collins Foods Limited Earnings Call This Week	Pair Corr
0.52	PREC	Prestige Cars Intern	Pair Corr
0.5	MNST	Monster Beverage Corp Sell-off Trend	Pair Corr
0.43	MTD	Mettler Toledo Inter	Pair Corr
0.4	A	Agilent Technologies	Pair Corr
0.35	ACGBF	Agricultural Bank	Pair Corr
0.34	TFPM	Triple Flag Precious	Pair Corr
0.32	CALC	CalciMedica, Common Stock	Pair Corr
0.32	GBOOF	Grupo Financiero Banorte	Pair Corr
0.31	CDP	COPT Defense Properties	Pair Corr

Related Correlations Analysis

	EVTZF	SENEM	BRID	AHFD	UPLD	NTEK	BNTX	ACLS
EVTZF		0.0	-0.26	0.0	-0.38	0.0	0.08	-0.29	EVTZF
SENEM	0.0		0.0	0.0	0.0	0.0	0.0	0.0	SENEM
BRID	-0.26	0.0		0.0	0.11	0.0	-0.07	0.39	BRID
AHFD	0.0	0.0	0.0		0.0	1.0	0.0	0.0	AHFD
UPLD	-0.38	0.0	0.11	0.0		0.0	-0.2	0.35	UPLD
NTEK	0.0	0.0	0.0	1.0	0.0		0.0	0.0	NTEK
BNTX	0.08	0.0	-0.07	0.0	-0.2	0.0		-0.32	BNTX
ACLS	-0.29	0.0	0.39	0.0	0.35	0.0	-0.32		ACLS
	EVTZF	SENEM	BRID	AHFD	UPLD	NTEK	BNTX	ACLS

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

NTEK	+ 1.0	AHFD
ACLS	+ 0.39	BRID
ACLS	+ 0.35	UPLD
UPLD	+ 0.11	BRID
BNTX	+ 0.08	EVTZF
SENEM	+ 0.0	EVTZF

High negative correlations

UPLD	- 0.38	EVTZF
ACLS	- 0.32	BNTX
ACLS	- 0.29	EVTZF
BRID	- 0.26	EVTZF
BNTX	- 0.2	UPLD
BNTX	- 0.07	BRID

Risk-Adjusted Indicators

There is a big difference between MacroGenics Stock performing well and MacroGenics 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 MacroGenics' 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
EVTZF	0.73	0.14	0.04	0.56	0.86	(2.57)	1.86	(1.59)	14.87
SENEM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRID	1.68	0.02	(0.02)	(3.49)	2.47	(1.66)	4.02	(4.00)	12.89
AHFD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UPLD	2.79	(0.54)	0.00	0.48	0.00	0.00	4.44	(6.10)	14.30
NTEK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BNTX	1.67	(0.01)	(0.03)	(0.09)	2.67	(1.72)	3.28	(4.40)	17.37
ACLS	2.08	0.05	(0.01)	(2.26)	2.42	(2.34)	4.89	(4.60)	12.51

MacroGenics Corporate Management

Eric Risser	Sr. VP of Bus. Devel. and Portfolio Management	Profile
Beth Smith	Controller VP	Profile
Steve Harig	Senior Resources	Profile
Christopher MD	VP Communications	Profile
Harish Krishnaswamy	Senior Planning	Profile
Ezio MD	Senior Officer	Profile

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