Crinetics Pharmaceuticals Correlations

CRNX Stock

USD 30.95 0.16 0.51%

The current 90-days correlation between Crinetics Pharmaceuticals and Ideaya Biosciences is 0.71 (i.e., Poor diversification). The correlation of Crinetics Pharmaceuticals 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Crinetics Pharmaceuticals Correlation With Market

Very weak diversification

The correlation between Crinetics Pharmaceuticals and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Crinetics Pharmaceuticals and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Crinetics Pharmaceuticals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Crinetics Stock please use our How to Invest in Crinetics Pharmaceuticals guide.

Moving against Crinetics Stock

0.31

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Pair Corr

Related Correlations Analysis

	IDYA	ANAB	MGTX	KROS	QTTB	REPL	YMAB	SRRK	STRO
IDYA		0.87	0.69	0.15	0.1	0.81	0.41	0.68	0.04	IDYA
ANAB	0.87		0.83	0.16	0.36	0.88	0.2	0.83	-0.13	ANAB
MGTX	0.69	0.83		0.09	0.34	0.82	-0.02	0.87	-0.08	MGTX
KROS	0.15	0.16	0.09		0.35	0.35	0.0	0.06	0.48	KROS
QTTB	0.1	0.36	0.34	0.35		0.43	0.13	0.37	-0.19	QTTB
REPL	0.81	0.88	0.82	0.35	0.43		0.26	0.83	-0.01	REPL
YMAB	0.41	0.2	-0.02	0.0	0.13	0.26		0.03	-0.32	YMAB
SRRK	0.68	0.83	0.87	0.06	0.37	0.83	0.03		-0.15	SRRK
STRO	0.04	-0.13	-0.08	0.48	-0.19	-0.01	-0.32	-0.15		STRO
	IDYA	ANAB	MGTX	KROS	QTTB	REPL	YMAB	SRRK	STRO

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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

REPL	+ 0.88	ANAB
ANAB	+ 0.87	IDYA
SRRK	+ 0.87	MGTX
MGTX	+ 0.83	ANAB
SRRK	+ 0.83	ANAB
SRRK	+ 0.83	REPL

High negative correlations

STRO	- 0.32	YMAB
STRO	- 0.19	QTTB
STRO	- 0.15	SRRK
STRO	- 0.13	ANAB
STRO	- 0.08	MGTX
YMAB	- 0.02	MGTX

Risk-Adjusted Indicators

There is a big difference between Crinetics Stock performing well and Crinetics Pharmaceuticals 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 Crinetics Pharmaceuticals' 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
IDYA	2.46	0.25	0.07	0.36	3.45	(2.66)	6.44	(4.71)	19.73
ANAB	2.64	0.58	0.18	2.17	2.31	(3.40)	7.59	(3.89)	17.51
MGTX	3.34	0.59	0.14	0.53	4.27	(3.66)	8.54	(8.36)	22.01
KROS	1.54	0.14	0.00	(1.51)	2.20	(1.59)	3.36	(4.23)	10.31
QTTB	6.92	0.87	0.13	0.65	6.80	(9.20)	8.93	(9.63)	143.55
REPL	3.61	0.75	0.13	0.97	4.89	(4.11)	9.93	(5.40)	34.70
YMAB	3.63	(0.23)	0.00	(0.10)	0.00	0.00	7.03	(9.18)	23.66
SRRK	3.22	0.41	0.14	0.41	3.01	(3.91)	7.18	(4.99)	22.87
STRO	5.96	0.27	0.09	0.19	6.81	(8.39)	20.69	(9.89)	75.21

Crinetics Pharmaceuticals Corporate Management

Jeff Knight	Chief Officer	Profile
BSc FRCP	Vice Endocrinology	Profile
James Hassard	Chief Officer	Profile
Adriana MBA	Chief Officer	Profile
Gayathri Diwakar	Head Relations	Profile
Dana MD	Chief Officer	Profile

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