IGM Biosciences Correlations

IGMS Stock

USD 1.28 0.01 0.79%

The current 90-days correlation between IGM Biosciences and Dyne Therapeutics is 0.21 (i.e., Modest diversification). The correlation of IGM Biosciences 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.

IGM Biosciences Correlation With Market

Modest diversification

The correlation between IGM Biosciences 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 IGM Biosciences and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IGM Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in IGM Biosciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

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

Moving against IGM Stock

0.33

TRV

The Travelers Companies

Pair Corr

Related Correlations Analysis

	DYN	EWTX	CGEM	STOK	MLYS	ALXO	SWTX	AKRO
DYN		0.74	0.71	0.03	0.61	0.25	-0.12	0.18	DYN
EWTX	0.74		0.54	-0.1	0.42	0.35	-0.59	-0.06	EWTX
CGEM	0.71	0.54		0.08	0.34	0.63	-0.07	0.3	CGEM
STOK	0.03	-0.1	0.08		-0.09	-0.19	0.43	0.87	STOK
MLYS	0.61	0.42	0.34	-0.09		-0.11	0.06	0.08	MLYS
ALXO	0.25	0.35	0.63	-0.19	-0.11		-0.25	-0.14	ALXO
SWTX	-0.12	-0.59	-0.07	0.43	0.06	-0.25		0.47	SWTX
AKRO	0.18	-0.06	0.3	0.87	0.08	-0.14	0.47		AKRO
	DYN	EWTX	CGEM	STOK	MLYS	ALXO	SWTX	AKRO

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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

AKRO	+ 0.87	STOK
EWTX	+ 0.74	DYN
CGEM	+ 0.71	DYN
ALXO	+ 0.63	CGEM
MLYS	+ 0.61	DYN
CGEM	+ 0.54	EWTX

High negative correlations

SWTX	- 0.59	EWTX
SWTX	- 0.25	ALXO
ALXO	- 0.19	STOK
AKRO	- 0.14	ALXO
SWTX	- 0.12	DYN
ALXO	- 0.11	MLYS

Risk-Adjusted Indicators

There is a big difference between IGM Stock performing well and IGM Biosciences 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 IGM Biosciences' 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
DYN	4.10	0.27	0.06	0.33	5.57	(4.55)	10.08	(7.07)	41.63
EWTX	2.40	0.06	0.02	0.20	3.36	(2.39)	5.66	(3.95)	22.67
CGEM	2.58	(0.17)	(0.04)	0.00	3.47	(2.37)	4.81	(5.34)	16.72
STOK	2.46	0.81	0.23	1.36	2.51	(2.69)	7.08	(2.97)	21.76
MLYS	2.36	(0.05)	(0.02)	0.07	3.12	(2.43)	4.38	(6.08)	12.76
ALXO	4.06	0.06	0.01	0.21	4.22	(5.53)	9.43	(8.70)	25.96
SWTX	1.57	(0.02)	(0.02)	0.10	2.82	(1.50)	5.93	(6.92)	20.32
AKRO	2.48	0.49	0.15	1.05	2.56	(2.80)	5.49	(5.32)	30.05

IGM Biosciences Corporate Management

TS Harigopal	Senior Operations	Profile
Faraz Siddiqui	Senior Operations	Profile
Angus Sinclair	Senior ImmunoOncology	Profile
Elizabeth JD	Senior Property	Profile
Elaine Sapinoso	Senior Quality	Profile
Misbah CPA	Chief Officer	Profile
Lisa Decker	Chief Officer	Profile

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