Passage Bio Correlations

PASG Stock

USD 6.51 0.19 2.84%

The current 90-days correlation between Passage Bio and Leap Therapeutics is -0.11 (i.e., Good diversification). The correlation of Passage Bio 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.

Passage Bio Correlation With Market

Very good diversification

The correlation between Passage Bio and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Passage Bio and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Passage Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Passage Bio. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more detail on how to invest in Passage Stock please use our How to Invest in Passage Bio guide.

Moving together with Passage Stock

0.76	RAC	Race Oncology	Pair Corr
0.78	VERA	Vera Therapeutics	Pair Corr
0.78	DRUG	Bright Minds Biosciences	Pair Corr
0.73	VNDA	Vanda Pharmaceuticals	Pair Corr

Moving against Passage Stock

0.5	DRMA	Dermata Therapeutics	Pair Corr
0.33	DVAX	Dynavax Technologies Buyout Trend	Pair Corr
0.67	300238	Guanhao Biotech	Pair Corr
0.64	VPRO	Viropro	Pair Corr
0.44	VXRT	Vaxart Inc Earnings Call This Week	Pair Corr
0.32	KTTAW	Pasithea Therapeutics	Pair Corr

Related Correlations Analysis

	ENTO	LPTX	ENLV	APLM	SONN	ALLR	KAPA	BOLD	CVKD	DRTS
ENTO		0.55	-0.37	0.81	0.67	0.47	-0.08	0.51	0.61	0.7	ENTO
LPTX	0.55		-0.09	0.64	0.18	0.19	-0.29	0.64	0.34	0.59	LPTX
ENLV	-0.37	-0.09		-0.25	-0.22	-0.5	-0.16	-0.17	-0.34	-0.32	ENLV
APLM	0.81	0.64	-0.25		0.46	0.26	-0.26	0.71	0.45	0.65	APLM
SONN	0.67	0.18	-0.22	0.46		0.34	0.08	0.1	0.45	0.57	SONN
ALLR	0.47	0.19	-0.5	0.26	0.34		0.59	0.07	0.57	0.47	ALLR
KAPA	-0.08	-0.29	-0.16	-0.26	0.08	0.59		-0.29	0.25	-0.15	KAPA
BOLD	0.51	0.64	-0.17	0.71	0.1	0.07	-0.29		0.25	0.5	BOLD
CVKD	0.61	0.34	-0.34	0.45	0.45	0.57	0.25	0.25		0.35	CVKD
DRTS	0.7	0.59	-0.32	0.65	0.57	0.47	-0.15	0.5	0.35		DRTS
	ENTO	LPTX	ENLV	APLM	SONN	ALLR	KAPA	BOLD	CVKD	DRTS

Please upgrade your account to get full access to Macroaxis premium features

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

APLM	+ 0.81	ENTO
BOLD	+ 0.71	APLM
DRTS	+ 0.7	ENTO
SONN	+ 0.67	ENTO
DRTS	+ 0.65	APLM
APLM	+ 0.64	LPTX

High negative correlations

ALLR	- 0.5	ENLV
ENLV	- 0.37	ENTO
CVKD	- 0.34	ENLV
DRTS	- 0.32	ENLV
BOLD	- 0.29	KAPA
KAPA	- 0.29	LPTX

Risk-Adjusted Indicators

There is a big difference between Passage Stock performing well and Passage Bio 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 Passage Bio'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
ENTO	7.90	2.46	0.28	(0.45)	5.72	(9.55)	18.03	(11.79)	79.65
LPTX	7.19	0.91	0.09	1.05	8.73	(9.08)	19.05	(9.43)	65.13
ENLV	2.90	(0.47)	0.00	(0.35)	0.00	0.00	5.94	(5.17)	45.42
APLM	8.56	2.53	0.15	(0.79)	8.50	(12.27)	31.11	(17.87)	96.36
SONN	9.10	0.83	0.14	0.25	7.69	(13.21)	22.31	(16.41)	69.59
ALLR	5.17	0.26	0.09	0.17	4.61	(7.72)	13.75	(9.02)	63.00
KAPA	5.17	(0.22)	(0.01)	0.01	6.64	(5.55)	10.43	(10.62)	36.13
BOLD	1.92	0.06	0.01	0.15	2.28	(2.57)	5.26	(5.11)	13.44
CVKD	3.26	0.12	0.04	0.17	3.75	(3.61)	7.06	(5.53)	22.36
DRTS	2.64	0.26	0.06	0.80	3.30	(2.75)	5.69	(6.00)	14.54

Passage Bio Corporate Management

Sue Browne	Senior Development	Profile
Simona King	CFO Sec	Profile
JD Esq	General Secretary	Profile
Gregory Fuest	Vice Marketing	Profile
MSc MBA	Chief Officer	Profile
Kathleen Borthwick	Principal Finance	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC