Castle Biosciences Correlations

CSTL Stock

USD 30.28 0.16 0.53%

The current 90-days correlation between Castle Biosciences and Caredx Inc is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Castle Biosciences moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Castle Biosciences moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Castle Biosciences Correlation With Market

Modest diversification

The correlation between Castle Biosciences and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Castle Biosciences 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 Castle Biosciences. 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.

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

Moving together with Castle Stock

0.64	GANX	Gain Therapeutics	Pair Corr
0.64	CMND	Clearmind Medicine Common	Pair Corr
0.66	CPRX	Catalyst Pharmaceuticals	Pair Corr

Moving against Castle Stock

0.49	ELAN	Elanco Animal Health	Pair Corr
0.33	HLN	Haleon plc	Pair Corr
0.36	CTLT	Catalent	Pair Corr

Related Correlations Analysis

	CDNA	TWST	BDSX	NTRA	GTH	OLK	FONR	XGN	PSNL	GH
CDNA		0.26	0.75	-0.38	-0.23	-0.73	0.63	-0.08	0.54	-0.35	CDNA
TWST	0.26		0.03	0.13	-0.03	-0.03	0.38	0.09	0.11	0.16	TWST
BDSX	0.75	0.03		-0.72	-0.02	-0.87	0.57	-0.32	0.74	-0.56	BDSX
NTRA	-0.38	0.13	-0.72		0.04	0.72	-0.16	0.73	-0.79	0.83	NTRA
GTH	-0.23	-0.03	-0.02	0.04		0.03	0.16	0.06	0.16	0.39	GTH
OLK	-0.73	-0.03	-0.87	0.72	0.03		-0.6	0.3	-0.75	0.58	OLK
FONR	0.63	0.38	0.57	-0.16	0.16	-0.6		0.25	0.4	0.05	FONR
XGN	-0.08	0.09	-0.32	0.73	0.06	0.3	0.25		-0.6	0.71	XGN
PSNL	0.54	0.11	0.74	-0.79	0.16	-0.75	0.4	-0.6		-0.53	PSNL
GH	-0.35	0.16	-0.56	0.83	0.39	0.58	0.05	0.71	-0.53		GH
	CDNA	TWST	BDSX	NTRA	GTH	OLK	FONR	XGN	PSNL	GH

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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

GH	+ 0.83	NTRA
BDSX	+ 0.75	CDNA
PSNL	+ 0.74	BDSX
XGN	+ 0.73	NTRA
OLK	+ 0.72	NTRA
GH	+ 0.71	XGN

High negative correlations

OLK	- 0.87	BDSX
PSNL	- 0.79	NTRA
PSNL	- 0.75	OLK
OLK	- 0.73	CDNA
NTRA	- 0.72	BDSX
PSNL	- 0.6	XGN

Risk-Adjusted Indicators

There is a big difference between Castle Stock performing well and Castle Biosciences 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 Castle Biosciences' 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
CDNA	2.55	(0.38)	0.00	(0.26)	0.00	0.00	4.19	(6.01)	24.22
TWST	3.12	(0.09)	0.03	0.09	3.73	(3.28)	8.94	(6.21)	17.59
BDSX	2.61	(0.28)	0.00	4.87	0.00	0.00	5.95	(5.61)	29.48
NTRA	2.28	0.44	0.17	0.57	2.15	(2.56)	4.30	(3.67)	25.26
GTH	1.87	0.00	(0.03)	0.13	2.49	(2.24)	3.45	(4.08)	14.43
OLK	0.63	0.19	0.05	(0.80)	0.48	(0.76)	1.58	(1.37)	4.37
FONR	1.50	(0.15)	0.00	(0.09)	0.00	0.00	2.15	(2.97)	10.84
XGN	3.75	0.47	0.13	0.60	3.40	(4.87)	9.62	(6.46)	25.65
PSNL	4.38	(0.50)	0.00	(0.26)	0.00	0.00	8.46	(9.47)	35.38
GH	2.88	0.29	0.14	0.29	2.55	(3.46)	8.24	(4.43)	17.48

Castle Biosciences Corporate Management

Camilla Zuckero	Exec Communications	Profile
John Abbott	VP Controller	Profile
RN RN	Chief Officer	Profile
Kristen RN	Chief Officer	Profile
Tobin Juvenal	Chief Officer	Profile

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