EnGene Holdings Correlations

ENGN Etf

USD 8.77 0.62 6.60%

The current 90-days correlation between enGene Holdings Common and DiaMedica Therapeutics is 0.08 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as EnGene Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if enGene Holdings Common moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

EnGene Holdings Correlation With Market

Average diversification

The correlation between enGene Holdings Common and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding enGene Holdings Common and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in enGene Holdings Common. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with EnGene Etf

0.86	DRUG	Bright Minds Biosciences Trending	Pair Corr
0.76	VRNA	Verona Pharma PLC	Pair Corr
0.65	VSTM	Verastem Trending	Pair Corr

Moving against EnGene Etf

0.67	ME	23Andme Holding	Pair Corr
0.58	DTIL	Precision BioSciences Downward Rally	Pair Corr
0.49	VALN	Valneva SE ADR	Pair Corr
0.45	A	Agilent Technologies	Pair Corr
0.42	VCNX	Vaccinex	Pair Corr
0.41	DRMA	Dermata Therapeutics	Pair Corr
0.38	DOMH	Dominari Holdings	Pair Corr
0.79	VINC	Vincerx Pharma	Pair Corr
0.67	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.57	EDSA	Edesa Biotech Fiscal Year End 20th of December 2024	Pair Corr
0.48	VXRT	Vaxart Inc	Pair Corr
0.47	EDIT	Editas Medicine	Pair Corr
0.44	VRCA	Verrica Pharmaceuticals	Pair Corr
0.4	VRPX	Virpax Pharmaceuticals	Pair Corr
0.37	VRAX	Virax Biolabs Group	Pair Corr
0.34	VIRX	Viracta Therapeutics	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.53	0.1	0.5	0.07	0.64	0.3	-0.52	0.73	META
MSFT	0.26		0.19	0.2	0.14	0.01	0.04	-0.08	0.13	-0.2	MSFT
UBER	0.53	0.19		-0.06	-0.13	0.28	-0.05	-0.17	0.11	0.35	UBER
F	0.1	0.2	-0.06		0.32	-0.41	0.52	0.71	-0.39	0.32	F
T	0.5	0.14	-0.13	0.32		-0.49	0.82	0.68	-0.8	0.39	T
A	0.07	0.01	0.28	-0.41	-0.49		-0.44	-0.58	0.62	0.0	A
CRM	0.64	0.04	-0.05	0.52	0.82	-0.44		0.87	-0.91	0.64	CRM
JPM	0.3	-0.08	-0.17	0.71	0.68	-0.58	0.87		-0.84	0.46	JPM
MRK	-0.52	0.13	0.11	-0.39	-0.8	0.62	-0.91	-0.84		-0.55	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.64	0.46	-0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.87	CRM
CRM	+ 0.82	T
XOM	+ 0.73	META
JPM	+ 0.71	F
JPM	+ 0.68	T
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.84	JPM
MRK	- 0.8	T
JPM	- 0.58	A
XOM	- 0.55	MRK
MRK	- 0.52	META

EnGene Holdings Competition Risk-Adjusted Indicators

There is a big difference between EnGene Etf performing well and EnGene Holdings ETF 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 EnGene Holdings' 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
META	1.11	0.13	0.06	0.31	1.37	(1.22)	2.69	(3.15)	8.02
MSFT	0.92	(0.01)	(0.03)	0.09	1.49	(0.90)	2.09	(1.85)	8.19
UBER	1.63	(0.08)	(0.03)	0.04	2.32	(1.73)	2.69	(2.53)	20.10
F	1.43	(0.16)	(0.04)	0.01	2.21	(1.41)	2.53	(2.90)	11.21
T	0.95	0.00	0.10	0.00	0.95	(1.06)	2.56	(1.86)	6.47
A	1.17	(0.08)	0.00	(0.05)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.29	0.26	0.20	0.34	1.06	(1.50)	3.18	(1.91)	9.98
JPM	1.14	(0.04)	0.04	0.09	1.38	(1.25)	2.05	(2.00)	15.87
MRK	0.92	(0.26)	0.00	(0.91)	0.00	0.00	2.00	(2.13)	4.89
XOM	0.98	(0.05)	(0.08)	0.02	1.32	(1.03)	2.10	(2.09)	5.74

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