Connect Biopharma Correlations

CNTB Stock

USD 1.02 0.01 0.97%

The current 90-days correlation between Connect Biopharma and Assembly Biosciences is -0.06 (i.e., Good diversification). The correlation of Connect Biopharma 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.

Connect Biopharma Correlation With Market

Modest diversification

The correlation between Connect Biopharma Holdings and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Connect Biopharma Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Connect Biopharma 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 estimate.

Moving together with Connect Stock

0.7	HLN	Haleon plc	Pair Corr
0.63	LLY	Eli Lilly Sell-off Trend	Pair Corr
0.66	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.67	RDY	Dr Reddys Laboratories	Pair Corr
0.61	TAK	Takeda Pharmaceutical	Pair Corr
0.66	ZTS	Zoetis Inc	Pair Corr

Moving against Connect Stock

0.7	VTRS	Viatris	Pair Corr
0.58	ESPR	Esperion Therapeutics	Pair Corr
0.55	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr
0.48	GILD	Gilead Sciences	Pair Corr
0.44	BFRIW	Biofrontera Warrants	Pair Corr
0.35	EBS	Emergent Biosolutions	Pair Corr
0.73	DXCM	DexCom Inc	Pair Corr
0.72	MNMD	Mind Medicine	Pair Corr
0.54	CPRX	Catalyst Pharmaceuticals	Pair Corr
0.52	NBIX	Neurocrine Biosciences	Pair Corr
0.5	BSX	Boston Scientific Corp	Pair Corr
0.46	ABT	Abbott Laboratories Fiscal Year End 22nd of January 2025	Pair Corr
0.39	MOLN	Molecular Partners	Pair Corr
0.36	EW	Edwards Lifesciences Corp	Pair Corr
0.34	CMND	Clearmind Medicine Common	Pair Corr

Related Correlations Analysis

	ASMB	NLTX	TIL	CTMX	ACHL	NXTC	NUVB	OVID
ASMB		0.13	0.12	0.28	-0.31	0.28	0.25	0.29	ASMB
NLTX	0.13		0.33	0.46	-0.48	0.39	0.24	-0.07	NLTX
TIL	0.12	0.33		0.36	0.08	-0.07	-0.2	-0.03	TIL
CTMX	0.28	0.46	0.36		-0.67	0.48	0.23	0.07	CTMX
ACHL	-0.31	-0.48	0.08	-0.67		-0.55	-0.62	0.1	ACHL
NXTC	0.28	0.39	-0.07	0.48	-0.55		0.28	0.3	NXTC
NUVB	0.25	0.24	-0.2	0.23	-0.62	0.28		0.07	NUVB
OVID	0.29	-0.07	-0.03	0.07	0.1	0.3	0.07		OVID
	ASMB	NLTX	TIL	CTMX	ACHL	NXTC	NUVB	OVID

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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

NXTC	+ 0.48	CTMX
CTMX	+ 0.46	NLTX
NXTC	+ 0.39	NLTX
CTMX	+ 0.36	TIL
TIL	+ 0.33	NLTX
OVID	+ 0.3	NXTC

High negative correlations

ACHL	- 0.67	CTMX
NUVB	- 0.62	ACHL
NXTC	- 0.55	ACHL
ACHL	- 0.48	NLTX
ACHL	- 0.31	ASMB
NUVB	- 0.2	TIL

Risk-Adjusted Indicators

There is a big difference between Connect Stock performing well and Connect Biopharma 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 Connect Biopharma'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
ASMB	2.95	0.10	0.00	0.47	4.39	(2.92)	8.79	(5.34)	21.34
NLTX	2.25	(0.07)	0.00	0.19	0.00	0.00	4.05	(3.53)	27.84
TIL	9.58	1.71	0.27	0.47	6.82	(12.82)	20.63	(10.89)	105.83
CTMX	2.76	(0.33)	0.00	(0.14)	0.00	0.00	6.25	(5.22)	20.61
ACHL	2.02	0.45	0.20	0.44	1.53	(3.19)	3.06	(2.88)	38.16
NXTC	2.58	(0.37)	0.00	1.76	0.00	0.00	5.22	(6.37)	21.68
NUVB	3.61	(0.44)	(0.02)	0.00	4.52	(3.86)	9.48	(8.36)	21.30
OVID	2.81	(0.43)	0.00	(0.06)	0.00	0.00	5.50	(6.25)	19.20

Connect Biopharma Corporate Management

Steven Chan	Chief Officer	Profile
Raul Collazo	VP Affairs	Profile
Lei Sun	VP CMC	Profile
Jiang JD	General Officer	Profile

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