Passage Bio Correlations

PASG Stock

USD 12.58 0.12 0.94%

The current 90-days correlation between Passage Bio and Lisata Therapeutics is -0.03 (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 poor diversification

The correlation between Passage Bio and DJI is 0.8 (i.e., Very poor 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

0.82	SLS	Sellas Life Sciences Downward Rally	Pair Corr
0.76	GNFT	Genfit SA	Pair Corr
0.71	ANNX	Annexon	Pair Corr
0.7	APGE	Apogee Therapeutics	Pair Corr
0.66	CELC	Celcuity LLC	Pair Corr
0.75	BCH	Banco De Chile Normal Trading	Pair Corr
0.7	AEM	Agnico Eagle Mines	Pair Corr
0.62	USAS	Americas Silver Corp Trending	Pair Corr

Moving against Passage Stock

0.75	GALT	Galectin Therapeutics	Pair Corr
0.73	RARE	Ultragenyx	Pair Corr
0.69	AAPG	Ascentage Pharma Symbol Change	Pair Corr
0.68	LEGN	Legend Biotech Corp	Pair Corr
0.61	FNMFO	Federal National Mortgage	Pair Corr
0.52	ZLAB	Zai Lab	Pair Corr
0.51	CCCC	C4 Therapeutics	Pair Corr
0.48	AURA	Aura Biosciences	Pair Corr
0.45	KRRO	Frequency Therapeutics	Pair Corr
0.41	SGMO	Sangamo Therapeutics	Pair Corr
0.37	CNTA	Centessa Pharmaceuticals	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.59	T	ATT Inc Earnings Call This Week	Pair Corr
0.58	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	NCNA	MTVA	LSTA	ALLR	GDTC	ENLV	CING	CLGN	XCUR	CASI
NCNA		0.5	-0.08	0.58	0.21	0.51	-0.4	0.62	-0.17	0.43	NCNA
MTVA	0.5		-0.3	0.32	0.46	0.06	-0.66	0.43	-0.41	0.39	MTVA
LSTA	-0.08	-0.3		0.41	-0.14	0.39	0.27	0.12	0.07	0.27	LSTA
ALLR	0.58	0.32	0.41		0.06	0.63	-0.15	0.63	-0.36	0.79	ALLR
GDTC	0.21	0.46	-0.14	0.06		0.24	-0.69	0.49	-0.6	0.22	GDTC
ENLV	0.51	0.06	0.39	0.63	0.24		-0.24	0.72	-0.33	0.64	ENLV
CING	-0.4	-0.66	0.27	-0.15	-0.69	-0.24		-0.67	0.69	-0.42	CING
CLGN	0.62	0.43	0.12	0.63	0.49	0.72	-0.67		-0.68	0.76	CLGN
XCUR	-0.17	-0.41	0.07	-0.36	-0.6	-0.33	0.69	-0.68		-0.66	XCUR
CASI	0.43	0.39	0.27	0.79	0.22	0.64	-0.42	0.76	-0.66		CASI
	NCNA	MTVA	LSTA	ALLR	GDTC	ENLV	CING	CLGN	XCUR	CASI

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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

CASI	+ 0.79	ALLR
CASI	+ 0.76	CLGN
CLGN	+ 0.72	ENLV
XCUR	+ 0.69	CING
CASI	+ 0.64	ENLV
ENLV	+ 0.63	ALLR

High negative correlations

CING	- 0.69	GDTC
XCUR	- 0.68	CLGN
CLGN	- 0.67	CING
CASI	- 0.66	XCUR
CING	- 0.66	MTVA
XCUR	- 0.6	GDTC

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
NCNA	3.46	(0.64)	0.00	(0.40)	0.00	0.00	6.97	(7.87)	16.72
MTVA	7.17	(1.38)	0.00	1.30	0.00	0.00	11.60	(20.10)	79.95
LSTA	4.35	0.96	0.31	0.32	2.85	(6.58)	5.58	(5.26)	85.83
ALLR	3.66	(0.38)	0.00	(0.14)	0.00	0.00	7.07	(7.48)	19.82
GDTC	3.78	(1.33)	0.00	(2.35)	0.00	0.00	6.03	(9.62)	31.46
ENLV	3.59	0.04	0.01	0.10	3.98	(5.08)	8.57	(7.53)	24.21
CING	3.30	0.35	0.08	0.28	4.51	(3.33)	7.46	(6.75)	20.19
CLGN	3.67	(0.28)	0.00	11.29	0.00	0.00	8.51	(7.84)	20.81
XCUR	5.56	0.92	0.10	(0.61)	7.40	(6.72)	21.22	(9.76)	63.80
CASI	3.72	(0.93)	0.00	(0.45)	0.00	0.00	5.88	(7.69)	32.11

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

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