Relay Therapeutics Correlations

RLAY Stock

USD 3.50 0.15 4.11%

The current 90-days correlation between Relay Therapeutics and Sana Biotechnology is 0.33 (i.e., Weak diversification). The correlation of Relay Therapeutics 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.

Relay Therapeutics Correlation With Market

Weak diversification

The correlation between Relay Therapeutics and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Relay Therapeutics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Relay Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Relay Therapeutics. 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 more information on how to buy Relay Stock please use our How to Invest in Relay Therapeutics guide.

Moving together with Relay Stock

0.75	MRK	Merck Company	Pair Corr
0.87	PFE	Pfizer Inc	Pair Corr
0.72	KMDA	Kamada	Pair Corr
0.68	NKTR	Nektar Therapeutics	Pair Corr
0.71	CGEN	Compugen	Pair Corr
0.67	FNMFO	Federal National Mortgage	Pair Corr
0.76	KB	KB Financial Group Earnings Call Tomorrow	Pair Corr
0.8	SHG	Shinhan Financial Earnings Call This Week	Pair Corr
0.81	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.79	BAC-PL	Bank of America	Pair Corr
0.67	WFC-PL	Wells Fargo	Pair Corr
0.68	CSCO	Cisco Systems	Pair Corr
0.65	INTC	Intel Earnings Call This Week	Pair Corr
0.65	IBM	International Business Earnings Call This Week	Pair Corr
0.68	MSFT	Microsoft	Pair Corr
0.76	CVX	Chevron Corp	Pair Corr
0.68	AXP	American Express	Pair Corr

Moving against Relay Stock

0.6

Procter Gamble

Pair Corr

Related Correlations Analysis

	RVMD	BPMC	SANA	KYMR	GLUE	NRIX	PCVX	ITOS
RVMD		0.09	-0.13	0.21	-0.02	0.1	0.4	0.09	RVMD
BPMC	0.09		0.79	0.92	0.42	0.69	0.52	0.89	BPMC
SANA	-0.13	0.79		0.75	0.7	0.68	0.62	0.75	SANA
KYMR	0.21	0.92	0.75		0.62	0.86	0.66	0.85	KYMR
GLUE	-0.02	0.42	0.7	0.62		0.78	0.7	0.4	GLUE
NRIX	0.1	0.69	0.68	0.86	0.78		0.72	0.71	NRIX
PCVX	0.4	0.52	0.62	0.66	0.7	0.72		0.57	PCVX
ITOS	0.09	0.89	0.75	0.85	0.4	0.71	0.57		ITOS
	RVMD	BPMC	SANA	KYMR	GLUE	NRIX	PCVX	ITOS

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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

KYMR	+ 0.92	BPMC
ITOS	+ 0.89	BPMC
NRIX	+ 0.86	KYMR
ITOS	+ 0.85	KYMR
SANA	+ 0.79	BPMC
NRIX	+ 0.78	GLUE

High negative correlations

SANA	- 0.13	RVMD
GLUE	- 0.02	RVMD

Risk-Adjusted Indicators

There is a big difference between Relay Stock performing well and Relay Therapeutics 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 Relay Therapeutics' 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
RVMD	1.95	0.00	(0.01)	0.13	2.49	(2.12)	3.61	(4.27)	18.30
BPMC	1.86	0.75	0.47	4.64	0.61	(2.41)	5.43	(1.91)	26.28
SANA	4.85	1.42	0.36	1.02	3.47	(6.48)	12.50	(7.06)	31.62
KYMR	3.18	0.92	0.26	0.87	2.76	(3.70)	6.98	(4.46)	48.99
GLUE	3.08	0.30	0.10	0.31	3.47	(3.42)	7.85	(6.84)	21.39
NRIX	2.88	0.09	0.04	0.19	3.27	(3.55)	7.16	(4.42)	20.42
PCVX	3.04	0.05	0.03	0.16	3.65	(3.73)	6.93	(4.87)	21.28
ITOS	2.77	0.97	0.37	3.57	1.83	(4.15)	7.68	(3.81)	20.47

Relay Therapeutics Corporate Management

Deborah Palestrant	Vice Strategy	Profile
MA MBA	Pres CEO	Profile
Thomas Catinazzo	Chief Officer	Profile
Andy Porter	Chief Officer	Profile
Jim Watters	Chief Research	Profile

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