Editas Medicine Correlations

EDIT Stock

USD 2.22 0.13 5.53%

The current 90-days correlation between Editas Medicine and Beam Therapeutics is 0.67 (i.e., Poor diversification). The correlation of Editas Medicine 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.

Editas Medicine Correlation With Market

Very weak diversification

The correlation between Editas Medicine and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Editas Medicine and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Editas Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Editas Medicine. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

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

Moving together with Editas Stock

0.68	KG	KING PHARMACEUTICALS INC Symbol Change	Pair Corr
0.68	VANI	Vivani Medical	Pair Corr
0.68	VERV	Verve Therapeutics Trending	Pair Corr
0.74	DRTS	Alpha Tau Medical	Pair Corr
0.83	VIGL	Vigil Neuroscience	Pair Corr
0.63	VRDN	Viridian Therapeutics	Pair Corr
0.93	VRNA	Verona Pharma PLC	Pair Corr
0.91	VTYX	Ventyx Biosciences	Pair Corr

Moving against Editas Stock

0.67	DRRX	Durect	Pair Corr
0.66	CDIOW	Cardio Diagnostics	Pair Corr
0.62	VCYT	Veracyte	Pair Corr
0.59	DRUG	Bright Minds Biosciences	Pair Corr
0.54	DVAX	Dynavax Technologies	Pair Corr
0.51	VALN	Valneva SE ADR	Pair Corr
0.49	DRMA	Dermata Therapeutics	Pair Corr
0.44	EQ	Equillium	Pair Corr
0.34	VIVS	VivoSim Labs, Symbol Change	Pair Corr
0.75	VYNE	Vyne Therapeutics	Pair Corr
0.73	DYAI	Dyadic International	Pair Corr
0.63	EDSA	Edesa Biotech	Pair Corr
0.45	KTTAW	Pasithea Therapeutics	Pair Corr
0.42	VRAX	Virax Biolabs Group	Pair Corr
0.41	VRTX	Vertex Pharmaceuticals	Pair Corr
0.39	SRZNW	Surrozen Warrant	Pair Corr
0.37	CDTTW	Conduit Pharmaceuticals	Pair Corr

Related Correlations Analysis

	BEAM	CRSP	CRBU	VERV	NTLA	PRME	VRTX	DNA	ALLO	SANA
BEAM		0.49	0.05	0.3	0.51	0.82	0.66	-0.04	0.69	0.23	BEAM
CRSP	0.49		0.63	0.75	0.7	0.41	0.15	0.69	0.33	0.8	CRSP
CRBU	0.05	0.63		0.54	0.49	0.1	-0.32	0.35	-0.14	0.85	CRBU
VERV	0.3	0.75	0.54		0.54	0.45	0.05	0.47	0.25	0.69	VERV
NTLA	0.51	0.7	0.49	0.54		0.3	-0.01	0.42	0.06	0.54	NTLA
PRME	0.82	0.41	0.1	0.45	0.3		0.66	-0.16	0.72	0.2	PRME
VRTX	0.66	0.15	-0.32	0.05	-0.01	0.66		-0.25	0.91	-0.19	VRTX
DNA	-0.04	0.69	0.35	0.47	0.42	-0.16	-0.25		-0.1	0.54	DNA
ALLO	0.69	0.33	-0.14	0.25	0.06	0.72	0.91	-0.1		0.08	ALLO
SANA	0.23	0.8	0.85	0.69	0.54	0.2	-0.19	0.54	0.08		SANA
	BEAM	CRSP	CRBU	VERV	NTLA	PRME	VRTX	DNA	ALLO	SANA

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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

ALLO	+ 0.91	VRTX
SANA	+ 0.85	CRBU
PRME	+ 0.82	BEAM
SANA	+ 0.8	CRSP
VERV	+ 0.75	CRSP
ALLO	+ 0.72	PRME

High negative correlations

VRTX	- 0.32	CRBU
DNA	- 0.25	VRTX
SANA	- 0.19	VRTX
DNA	- 0.16	PRME
ALLO	- 0.14	CRBU
ALLO	- 0.1	DNA

Risk-Adjusted Indicators

There is a big difference between Editas Stock performing well and Editas Medicine 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 Editas Medicine'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
BEAM	3.74	(0.45)	0.00	(0.24)	0.00	0.00	7.29	(10.63)	31.91
CRSP	2.86	0.11	0.03	0.10	3.36	(3.18)	6.77	(4.47)	26.57
CRBU	5.47	0.53	0.08	0.32	5.85	(6.20)	11.90	(8.49)	26.71
VERV	6.84	1.41	0.22	0.99	5.78	(8.86)	14.81	(10.56)	41.88
NTLA	4.76	0.17	0.03	0.14	6.59	(4.82)	9.54	(7.79)	36.46
PRME	5.88	0.33	0.05	0.18	6.26	(8.14)	13.68	(11.94)	41.91
VRTX	1.32	(0.21)	0.00	(0.37)	0.00	0.00	2.40	(2.65)	12.74
DNA	4.81	0.30	0.06	0.19	4.90	(5.62)	14.73	(7.43)	25.69
ALLO	3.94	(0.41)	0.00	(0.40)	0.00	0.00	9.09	(6.25)	32.96
SANA	5.74	0.26	0.04	0.16	7.07	(6.61)	12.50	(12.42)	31.62

Editas Medicine Corporate Management

Damien JD	General VP	Profile
Bruce Eaton	Exec Officer	Profile
Cristi Barnett	Corporate Relations	Profile
Charlene JD	Executive Counsel	Profile

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