Praxis Precision Correlations

PRAX Stock

USD 178.08 5.53 3.01%

The current 90-days correlation between Praxis Precision Med and Crinetics Pharmaceuticals is -0.08 (i.e., Good diversification). The correlation of Praxis Precision 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.

Praxis Precision Correlation With Market

Good diversification

The correlation between Praxis Precision Medicines and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Precision Medicines and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Praxis Precision Medicines. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Praxis Stock

0.9	UPB	Upstream Bio,	Pair Corr
0.79	ZBIO	Zenas BioPharma, Common	Pair Corr
0.75	ZYME	Zymeworks Common Stock	Pair Corr
0.87	IMNM	Immunome Earnings Call This Week	Pair Corr
0.85	600201	Jinyu Bio Technology	Pair Corr

Moving against Praxis Stock

0.82	OPTI	OptiBiotix Health Plc	Pair Corr
0.82	688089	Cabio Biotech Wuhan	Pair Corr
0.66	688238	OBiO Technology Corp	Pair Corr
0.64	KPRX	Kiora Pharmaceuticals	Pair Corr
0.59	INAB	In8bio Inc	Pair Corr
0.52	AIM	AIM ImmunoTech	Pair Corr
0.45	HCWB	HCW Biologics	Pair Corr
0.45	300439	Ningbo MedicalSystem	Pair Corr
0.44	XTLB	XTL Biopharmaceuticals	Pair Corr
0.41	ABP	ABPRO P Symbol Change	Pair Corr
0.32	688639	Anhui Huaheng Biotec	Pair Corr
0.81	MAIA	MAIA Biotechnology	Pair Corr
0.77	METROPOLIS	Metropolis Healthcare	Pair Corr
0.75	688166	BrightGene Bio Medical	Pair Corr
0.74	OBI	Ondine Biomedical	Pair Corr
0.72	MTNB	Matinas BioPharma	Pair Corr
0.5	300942	Shenzhen Bioeasy Bio	Pair Corr
0.38	PLRZ	Polyrizon Ordinary	Pair Corr
0.38	300871	Wuhan Hvsen Biotechnology	Pair Corr

Related Correlations Analysis

	CRNX	SLNO	VKTX	KYMR	ACAD	LGND	XENE	AKRO	CNTA	IMVT
CRNX		-0.29	0.36	0.92	-0.85	0.84	0.65	0.54	0.78	0.64	CRNX
SLNO	-0.29		0.09	-0.4	0.21	-0.53	0.22	0.0	-0.46	-0.32	SLNO
VKTX	0.36	0.09		0.45	-0.26	0.49	0.46	0.72	0.22	0.62	VKTX
KYMR	0.92	-0.4	0.45		-0.82	0.89	0.64	0.67	0.86	0.73	KYMR
ACAD	-0.85	0.21	-0.26	-0.82		-0.63	-0.49	-0.47	-0.75	-0.37	ACAD
LGND	0.84	-0.53	0.49	0.89	-0.63		0.56	0.65	0.71	0.85	LGND
XENE	0.65	0.22	0.46	0.64	-0.49	0.56		0.7	0.38	0.53	XENE
AKRO	0.54	0.0	0.72	0.67	-0.47	0.65	0.7		0.38	0.74	AKRO
CNTA	0.78	-0.46	0.22	0.86	-0.75	0.71	0.38	0.38		0.54	CNTA
IMVT	0.64	-0.32	0.62	0.73	-0.37	0.85	0.53	0.74	0.54		IMVT
	CRNX	SLNO	VKTX	KYMR	ACAD	LGND	XENE	AKRO	CNTA	IMVT

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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

KYMR	+ 0.92	CRNX
LGND	+ 0.89	KYMR
CNTA	+ 0.86	KYMR
IMVT	+ 0.85	LGND
LGND	+ 0.84	CRNX
CNTA	+ 0.78	CRNX

High negative correlations

ACAD	- 0.85	CRNX
ACAD	- 0.82	KYMR
CNTA	- 0.75	ACAD
LGND	- 0.63	ACAD
LGND	- 0.53	SLNO
XENE	- 0.49	ACAD

Risk-Adjusted Indicators

There is a big difference between Praxis Stock performing well and Praxis Precision 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 Praxis Precision'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
CRNX	2.94	0.54	0.19	0.49	2.71	(3.52)	6.35	(5.14)	35.94
SLNO	3.83	(0.75)	0.00	(1.15)	0.00	0.00	6.43	(7.41)	40.05
VKTX	3.80	0.13	0.02	0.21	8.23	(3.89)	8.06	(5.46)	47.27
KYMR	2.51	0.58	0.23	0.53	2.22	(2.88)	6.26	(3.86)	12.27
ACAD	1.92	(0.31)	0.00	(0.03)	0.00	0.00	4.41	(3.79)	14.40
LGND	1.17	0.40	0.27	0.96	0.93	(1.47)	2.67	(1.95)	12.13
XENE	1.62	0.00	0.02	0.11	1.75	(1.84)	4.00	(2.60)	10.11
AKRO	1.49	0.38	0.05	(0.13)	1.39	(1.82)	3.68	(3.07)	16.73
CNTA	2.70	0.68	0.21	1.16	2.53	(3.26)	8.92	(4.08)	22.36
IMVT	2.82	0.58	0.22	0.57	2.10	(3.19)	9.77	(4.03)	18.29

Praxis Precision Corporate Management

Dr B	CoFounder Officer	Profile
Timothy Kelly	CFO Treasurer	Profile
Nicole Sweeny	Chief Officer	Profile
Kelly McCue	Chief Officer	Profile
Alyssa Wyant	Chief Officer	Profile
Megan Sniecinski	Chief Officer	Profile
Lauren Mastrocola	VP Officer	Profile

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