Relay Therapeutics Correlations

RLAY Stock

USD 3.33 0.23 7.42%

The current 90-days correlation between Relay Therapeutics and Stoke Therapeutics is 0.62 (i.e., Poor diversification). The correlation of Relay Therapeutics 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.

Relay Therapeutics Correlation With Market

Good diversification

The correlation between Relay Therapeutics and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Relay Therapeutics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Relay Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Relay Therapeutics. 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.

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

Moving together with Relay Stock

0.93	A	Agilent Technologies	Pair Corr
0.66	EQ	Equillium	Pair Corr
0.84	DMAC	DiaMedica Therapeutics Earnings Call Shortly	Pair Corr
0.86	VANI	Vivani Medical	Pair Corr
0.94	DNLI	Denali Therapeutics Earnings Call Shortly	Pair Corr
0.77	DNTH	Dianthus Therapeutics Earnings Call Shortly	Pair Corr
0.88	VCEL	Vericel Corp Ord Earnings Call Shortly	Pair Corr
0.89	VCYT	Veracyte Earnings Call Shortly	Pair Corr
0.93	VERV	Verve Therapeutics	Pair Corr
0.9	VERA	Vera Therapeutics	Pair Corr
0.61	DRMA	Dermata Therapeutics Earnings Call Shortly	Pair Corr
0.81	DRTS	Alpha Tau Medical	Pair Corr
0.8	CDIOW	Cardio Diagnostics	Pair Corr
0.71	DSGN	Design Therapeutics Earnings Call Shortly	Pair Corr
0.67	SABSW	SAB Biotherapeutics	Pair Corr
0.82	VIGL	Vigil Neuroscience	Pair Corr
0.93	VKTX	Viking Therapeutics	Pair Corr
0.75	DYAI	Dyadic International	Pair Corr
0.88	VRAX	Virax Biolabs Group	Pair Corr
0.76	VRCA	Verrica Pharmaceuticals	Pair Corr
0.94	VRDN	Viridian Therapeutics Earnings Call Shortly	Pair Corr
0.82	VTGN	VistaGen Therapeutics	Pair Corr
0.91	VTRS	Viatris Earnings Call Shortly	Pair Corr
0.97	VTYX	Ventyx Biosciences	Pair Corr
0.91	VXRT	Vaxart Inc	Pair Corr

Moving against Relay Stock

0.45	VRTX	Vertex Pharmaceuticals Earnings Call Shortly	Pair Corr
0.39	EDSA	Edesa Biotech Earnings Call Shortly	Pair Corr

Related Correlations Analysis

	STOK	PLRX	BDTX	ARVN	DAWN	MRTX	AMLX	TERN	APLS	THRX
STOK		0.77	0.84	0.66	0.77	0.0	0.17	0.85	0.61	0.0	STOK
PLRX	0.77		0.82	0.61	0.76	0.0	-0.19	0.73	0.67	0.0	PLRX
BDTX	0.84	0.82		0.87	0.96	0.0	-0.29	0.95	0.89	0.0	BDTX
ARVN	0.66	0.61	0.87		0.85	0.0	-0.38	0.87	0.81	0.0	ARVN
DAWN	0.77	0.76	0.96	0.85		0.0	-0.35	0.92	0.89	0.0	DAWN
MRTX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	MRTX
AMLX	0.17	-0.19	-0.29	-0.38	-0.35	0.0		-0.23	-0.58	0.0	AMLX
TERN	0.85	0.73	0.95	0.87	0.92	0.0	-0.23		0.89	0.0	TERN
APLS	0.61	0.67	0.89	0.81	0.89	0.0	-0.58	0.89		0.0	APLS
THRX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		THRX
	STOK	PLRX	BDTX	ARVN	DAWN	MRTX	AMLX	TERN	APLS	THRX

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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

DAWN	+ 0.96	BDTX
TERN	+ 0.95	BDTX
TERN	+ 0.92	DAWN
APLS	+ 0.89	BDTX
APLS	+ 0.89	DAWN
APLS	+ 0.89	TERN

High negative correlations

APLS	- 0.58	AMLX
AMLX	- 0.38	ARVN
AMLX	- 0.35	DAWN
AMLX	- 0.29	BDTX
TERN	- 0.23	AMLX
AMLX	- 0.19	PLRX

Risk-Adjusted Indicators

There is a big difference between Relay Stock performing well and Relay Therapeutics 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 Relay Therapeutics' 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
STOK	3.94	(0.05)	0.00	(1.17)	0.00	0.00	7.69	(7.77)	20.29
PLRX	6.59	(1.78)	0.00	(14.00)	0.00	0.00	10.38	(14.98)	80.84
BDTX	3.92	(0.28)	0.00	(0.36)	0.00	0.00	6.25	(7.82)	17.39
ARVN	4.06	(0.64)	0.00	1.60	0.00	0.00	8.53	(6.80)	61.27
DAWN	3.33	(0.50)	0.00	(0.59)	0.00	0.00	6.77	(6.92)	20.32
MRTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AMLX	3.99	0.87	0.16	0.59	4.63	(4.23)	7.44	(8.54)	22.84
TERN	4.12	(0.17)	0.00	(0.27)	0.00	0.00	7.94	(7.25)	20.88
APLS	2.28	(0.51)	0.00	(0.76)	0.00	0.00	4.11	(4.54)	16.85
THRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Relay Therapeutics Corporate Management

Deborah Palestrant	Vice Strategy	Profile
MA MBA	Pres CEO	Profile
Thomas Catinazzo	Chief Officer	Profile
Andy Porter	Chief Officer	Profile
Jim Watters	Chief Research	Profile

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