Tenaya Therapeutics Correlations

TNYA Stock

USD 3.29 0.33 11.15%

The current 90-days correlation between Tenaya Therapeutics and IGM Biosciences is 0.14 (i.e., Average diversification). The correlation of Tenaya 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.

Tenaya Therapeutics Correlation With Market

Significant diversification

The correlation between Tenaya Therapeutics and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tenaya Therapeutics and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tenaya 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 manufacturing.

For information on how to trade Tenaya Stock refer to our How to Trade Tenaya Stock guide.

Moving together with Tenaya Stock

0.76

NBIX

Neurocrine Biosciences

Pair Corr

Moving against Tenaya Stock

0.49	HCM	HUTCHMED DRC	Pair Corr
0.45	ZTS	Zoetis Inc	Pair Corr
0.44	GANX	Gain Therapeutics	Pair Corr
0.4	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.44	APGE	Apogee Therapeutics,	Pair Corr
0.4	CVS	CVS Health Corp Sell-off Trend	Pair Corr
0.36	ANEB	Anebulo Pharmaceuticals	Pair Corr
0.36	SMMT	Summit Therapeutics PLC	Pair Corr

Related Correlations Analysis

	BCYC	IGMS	GLUE	STOK	BMEA	AKRO	FIXX	GOSS	RANI	VINC
BCYC		0.58	-0.36	0.23	0.57	-0.09	0.11	0.55	0.21	0.08	BCYC
IGMS	0.58		-0.28	-0.1	0.77	0.07	0.22	0.65	-0.08	0.08	IGMS
GLUE	-0.36	-0.28		-0.08	-0.42	0.69	-0.56	-0.65	-0.19	-0.58	GLUE
STOK	0.23	-0.1	-0.08		-0.31	-0.43	-0.26	0.15	0.59	0.55	STOK
BMEA	0.57	0.77	-0.42	-0.31		0.07	0.41	0.65	0.03	-0.08	BMEA
AKRO	-0.09	0.07	0.69	-0.43	0.07		-0.28	-0.37	-0.25	-0.8	AKRO
FIXX	0.11	0.22	-0.56	-0.26	0.41	-0.28		0.26	-0.12	0.22	FIXX
GOSS	0.55	0.65	-0.65	0.15	0.65	-0.37	0.26		0.21	0.56	GOSS
RANI	0.21	-0.08	-0.19	0.59	0.03	-0.25	-0.12	0.21		0.36	RANI
VINC	0.08	0.08	-0.58	0.55	-0.08	-0.8	0.22	0.56	0.36		VINC
	BCYC	IGMS	GLUE	STOK	BMEA	AKRO	FIXX	GOSS	RANI	VINC

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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

BMEA	+ 0.77	IGMS
AKRO	+ 0.69	GLUE
GOSS	+ 0.65	IGMS
GOSS	+ 0.65	BMEA
RANI	+ 0.59	STOK
IGMS	+ 0.58	BCYC

High negative correlations

VINC	- 0.8	AKRO
GOSS	- 0.65	GLUE
VINC	- 0.58	GLUE
FIXX	- 0.56	GLUE
AKRO	- 0.43	STOK
BMEA	- 0.42	GLUE

Risk-Adjusted Indicators

There is a big difference between Tenaya Stock performing well and Tenaya 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 Tenaya 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
BCYC	2.34	(0.26)	0.00	(0.03)	0.00	0.00	4.68	(3.70)	35.92
IGMS	5.80	0.01	0.02	0.13	6.09	(6.87)	11.62	(9.42)	41.11
GLUE	5.18	0.88	0.25	0.43	3.74	(7.01)	8.10	(8.18)	102.66
STOK	2.63	(0.30)	0.00	(0.10)	0.00	0.00	4.68	(6.99)	21.35
BMEA	3.46	(0.07)	(0.02)	0.05	4.69	(3.85)	9.12	(8.16)	24.44
AKRO	2.37	0.09	0.07	0.17	2.62	(2.49)	5.23	(4.45)	13.37
FIXX	2.82	0.08	0.00	0.27	3.52	(3.25)	5.77	(5.61)	19.43
GOSS	2.39	(0.36)	0.00	(0.62)	0.00	0.00	6.06	(4.76)	17.73
RANI	5.15	(0.56)	0.00	(0.06)	0.00	0.00	8.71	(7.50)	90.76
VINC	3.97	(1.46)	0.00	(1.15)	0.00	0.00	6.06	(7.32)	47.76

Tenaya Therapeutics Corporate Management

Deepak MD	Chairman Founder	Profile
Saptarsi MD	Scientific Founder	Profile
Sheng Ding	Scientific Founder	Profile
Benoit Bruneau	Scientific Founder	Profile
Timothy Hoey	Chief Officer	Profile
Leone MBA	Chief Officer	Profile
Chihiro Saito	Senior Officer	Profile

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