Fortress Biotech Correlations

FBIO Stock

USD 2.13 0.30 16.39%

The current 90-days correlation between Fortress Biotech and Achilles Therapeutics PLC is -0.17 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fortress Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fortress Biotech moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fortress Biotech Correlation With Market

Modest diversification

The correlation between Fortress Biotech and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fortress Biotech 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 Fortress Biotech. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

To learn how to invest in Fortress Stock, please use our How to Invest in Fortress Biotech guide.

Moving together with Fortress Stock

0.69

VERV

Verve Therapeutics

Pair Corr

Moving against Fortress Stock

0.31

VERA

Vera Therapeutics

Pair Corr

Related Correlations Analysis

	MBIO	ACHL	APTO	FBIOP	CKPT	ATXI	PIRS	ALRN	RVPHW	EYEN
MBIO		-0.54	0.5	0.76	-0.09	0.51	0.51	0.09	-0.37	0.62	MBIO
ACHL	-0.54		-0.31	-0.72	0.62	-0.84	-0.52	0.51	0.13	-0.48	ACHL
APTO	0.5	-0.31		0.21	-0.55	0.3	0.14	0.45	-0.5	0.8	APTO
FBIOP	0.76	-0.72	0.21		-0.2	0.69	0.71	-0.3	-0.12	0.43	FBIOP
CKPT	-0.09	0.62	-0.55	-0.2		-0.56	-0.2	0.18	0.18	-0.54	CKPT
ATXI	0.51	-0.84	0.3	0.69	-0.56		0.56	-0.31	-0.1	0.51	ATXI
PIRS	0.51	-0.52	0.14	0.71	-0.2	0.56		-0.14	-0.18	0.45	PIRS
ALRN	0.09	0.51	0.45	-0.3	0.18	-0.31	-0.14		-0.41	0.43	ALRN
RVPHW	-0.37	0.13	-0.5	-0.12	0.18	-0.1	-0.18	-0.41		-0.62	RVPHW
EYEN	0.62	-0.48	0.8	0.43	-0.54	0.51	0.45	0.43	-0.62		EYEN
	MBIO	ACHL	APTO	FBIOP	CKPT	ATXI	PIRS	ALRN	RVPHW	EYEN

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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

EYEN	+ 0.8	APTO
FBIOP	+ 0.76	MBIO
PIRS	+ 0.71	FBIOP
ATXI	+ 0.69	FBIOP
EYEN	+ 0.62	MBIO
CKPT	+ 0.62	ACHL

High negative correlations

ATXI	- 0.84	ACHL
FBIOP	- 0.72	ACHL
EYEN	- 0.62	RVPHW
ATXI	- 0.56	CKPT
CKPT	- 0.55	APTO
EYEN	- 0.54	CKPT

Risk-Adjusted Indicators

There is a big difference between Fortress Stock performing well and Fortress Biotech 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 Fortress Biotech'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
MBIO	3.76	(0.36)	0.00	0.56	0.00	0.00	7.14	(7.69)	41.50
ACHL	1.97	0.52	0.23	0.51	1.39	(3.11)	3.06	(2.78)	38.16
APTO	3.56	(0.99)	0.00	1.39	0.00	0.00	5.41	(7.69)	33.33
FBIOP	2.27	(0.20)	0.00	(0.14)	0.00	0.00	3.60	(4.72)	16.27
CKPT	3.20	1.07	0.26	3.51	3.09	(3.75)	7.91	(5.73)	19.17
ATXI	3.20	(0.15)	0.00	1.76	0.00	0.00	6.81	(6.13)	23.22
PIRS	1.58	(0.14)	0.00	(0.11)	0.00	0.00	3.23	(3.40)	12.92
ALRN	4.31	0.42	0.06	2.32	4.65	(5.03)	8.06	(7.99)	41.47
RVPHW	14.03	3.17	0.16	(6.66)	15.22	(17.56)	28.57	(22.22)	129.53
EYEN	6.68	(1.77)	0.00	(0.46)	0.00	0.00	14.29	(19.18)	92.81

Fortress Biotech Corporate Management

George Avgerinos	Sr. VP of Biologics Operations	Profile
Samuel Berry	General Secretary	Profile
Robyn Hunter	Ex Officer	Profile
Thomas Schaible	Project Disease	Profile

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