Zai Lab Correlations

ZLAB Stock

USD 18.04 0.86 5.01%

The current 90-days correlation between Zai Lab and Legend Biotech Corp is 0.22 (i.e., Modest diversification). The correlation of Zai Lab 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.

Zai Lab Correlation With Market

Modest diversification

The correlation between Zai Lab and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zai Lab and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Zai Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zai Lab. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with Zai Stock

0.92	AVH	Avita Medical	Pair Corr
0.63	ROQ	Roquefort Investments PLC	Pair Corr
0.71	T	ATT Inc	Pair Corr
0.73	BA	Boeing	Pair Corr
0.74	HPQ	HP Inc	Pair Corr
0.76	MSFT	Microsoft Aggressive Push	Pair Corr
0.88	HD	Home Depot	Pair Corr

Moving against Zai Stock

0.94	NHIC	NewHold Investment Corp	Pair Corr
0.91	ACW	Actinogen Medical	Pair Corr
0.89	JBHT	JB Hunt Transport	Pair Corr
0.88	MTC	MMTEC Inc Tech Boost	Pair Corr
0.86	AAPL	Apple Inc	Pair Corr
0.85	AMGN	Amgen Inc	Pair Corr
0.82	MRK	Merck Company Aggressive Push	Pair Corr
0.79	GILD	Gilead Sciences	Pair Corr
0.67	MCD	McDonalds	Pair Corr
0.93	DD	Dupont De Nemours	Pair Corr
0.93	CSCO	Cisco Systems	Pair Corr
0.89	KO	Coca Cola	Pair Corr
0.85	JNJ	Johnson Johnson	Pair Corr
0.82	AA	Alcoa Corp	Pair Corr
0.82	AXP	American Express	Pair Corr
0.78	MMM	3M Company	Pair Corr
0.64	WMT	Walmart Common Stock	Pair Corr

Related Correlations Analysis

	LEGN	IRON	AAPG	SRRK	IDYA	CNTA	XENE	CDTX	TARS	APGE
LEGN		-0.65	0.79	-0.78	-0.73	-0.68	-0.66	-0.87	-0.75	-0.84	LEGN
IRON	-0.65		-0.88	0.28	0.92	0.69	0.78	0.73	0.87	0.9	IRON
AAPG	0.79	-0.88		-0.39	-0.85	-0.63	-0.66	-0.76	-0.81	-0.91	AAPG
SRRK	-0.78	0.28	-0.39		0.5	0.69	0.5	0.8	0.54	0.56	SRRK
IDYA	-0.73	0.92	-0.85	0.5		0.84	0.79	0.85	0.86	0.91	IDYA
CNTA	-0.68	0.69	-0.63	0.69	0.84		0.66	0.88	0.71	0.76	CNTA
XENE	-0.66	0.78	-0.66	0.5	0.79	0.66		0.71	0.82	0.83	XENE
CDTX	-0.87	0.73	-0.76	0.8	0.85	0.88	0.71		0.83	0.87	CDTX
TARS	-0.75	0.87	-0.81	0.54	0.86	0.71	0.82	0.83		0.93	TARS
APGE	-0.84	0.9	-0.91	0.56	0.91	0.76	0.83	0.87	0.93		APGE
	LEGN	IRON	AAPG	SRRK	IDYA	CNTA	XENE	CDTX	TARS	APGE

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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

APGE	+ 0.93	TARS
IDYA	+ 0.92	IRON
APGE	+ 0.91	IDYA
APGE	+ 0.9	IRON
CDTX	+ 0.88	CNTA
TARS	+ 0.87	IRON

High negative correlations

APGE	- 0.91	AAPG
AAPG	- 0.88	IRON
CDTX	- 0.87	LEGN
IDYA	- 0.85	AAPG
APGE	- 0.84	LEGN
TARS	- 0.81	AAPG

Risk-Adjusted Indicators

There is a big difference between Zai Stock performing well and Zai Lab 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 Zai Lab'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
LEGN	1.66	(0.78)	0.00	(0.54)	0.00	0.00	2.97	(4.03)	12.55
IRON	2.10	0.58	0.27	0.62	1.77	(2.47)	4.69	(3.40)	25.30
AAPG	2.44	(0.48)	0.00	(0.46)	0.00	0.00	4.54	(5.59)	16.16
SRRK	3.45	0.54	0.12	1.12	3.73	(3.88)	6.48	(6.87)	29.11
IDYA	2.02	0.42	0.22	0.37	1.67	(2.42)	4.86	(3.04)	14.61
CNTA	2.35	0.21	0.06	0.36	2.74	(2.45)	4.97	(4.08)	26.54
XENE	1.58	0.19	0.11	0.20	1.59	(1.78)	4.00	(2.57)	10.11
CDTX	5.23	2.56	0.85	(1.13)	1.50	(6.14)	9.84	(4.54)	105.72
TARS	1.98	0.61	0.29	1.35	1.53	(2.42)	4.53	(3.31)	15.51
APGE	2.65	1.06	0.49	0.62	1.49	(3.33)	7.84	(4.18)	23.29

Zai Lab Corporate Management

Peter Huang	Chief Officer	Profile
Dr MBA	Chief Officer	Profile
Joshua Smiley	Chief Officer	Profile
Frazor III	Chief Sec	Profile
Christine Chiou	Senior Relations	Profile
Harald MD	Autoimmune Neuroscience	Profile

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