EnGene Holdings Correlations

ENGN Etf

USD 7.27 0.33 4.76%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as EnGene Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if enGene Holdings Common moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

EnGene Holdings Correlation With Market

Average diversification

The correlation between enGene Holdings Common and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding enGene Holdings Common and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in enGene Holdings Common. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with EnGene Etf

0.81	ME	23Andme Holding	Pair Corr
0.66	DOMH	Dominari Holdings	Pair Corr
0.73	VCNX	Vaccinex	Pair Corr
0.82	VIGL	Vigil Neuroscience	Pair Corr
0.72	VIRI	Virios Therapeutics Llc	Pair Corr
0.8	VIRX	Viracta Therapeutics	Pair Corr
0.68	SRZNW	Surrozen Warrant	Pair Corr
0.71	VNDA	Vanda Pharmaceuticals	Pair Corr
0.9	VRCA	Verrica Pharmaceuticals	Pair Corr
0.63	CDTTW	Conduit Pharmaceuticals Symbol Change	Pair Corr

Moving against EnGene Etf

0.9	VCYT	Veracyte	Pair Corr
0.67	A	Agilent Technologies Fiscal Year End 18th of November 2024	Pair Corr
0.64	VERA	Vera Therapeutics	Pair Corr
0.61	DMAC	DiaMedica Therapeutics Downward Rally	Pair Corr
0.51	DSGN	Design Therapeutics	Pair Corr
0.46	DNLI	Denali Therapeutics	Pair Corr
0.44	EQ	Equillium	Pair Corr
0.77	VRNA	Verona Pharma PLC	Pair Corr
0.69	VRAX	Virax Biolabs Group	Pair Corr
0.55	VKTX	Viking Therapeutics	Pair Corr
0.37	VRDN	Viridian Therapeutics	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.07	0.69	-0.23	0.27	0.07	0.26	0.13	-0.23	-0.07	META
MSFT	0.07		0.3	0.78	-0.52	-0.77	-0.02	-0.36	0.84	-0.5	MSFT
UBER	0.69	0.3		0.21	0.09	-0.03	0.26	0.27	0.15	-0.07	UBER
F	-0.23	0.78	0.21		-0.44	-0.62	0.03	-0.02	0.74	-0.22	F
T	0.27	-0.52	0.09	-0.44		0.56	0.27	0.48	-0.62	0.2	T
A	0.07	-0.77	-0.03	-0.62	0.56		0.26	0.55	-0.7	0.54	A
CRM	0.26	-0.02	0.26	0.03	0.27	0.26		0.67	-0.28	0.59	CRM
JPM	0.13	-0.36	0.27	-0.02	0.48	0.55	0.67		-0.44	0.62	JPM
MRK	-0.23	0.84	0.15	0.74	-0.62	-0.7	-0.28	-0.44		-0.49	MRK
XOM	-0.07	-0.5	-0.07	-0.22	0.2	0.54	0.59	0.62	-0.49		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MRK	+ 0.84	MSFT
F	+ 0.78	MSFT
MRK	+ 0.74	F
UBER	+ 0.69	META
JPM	+ 0.67	CRM
XOM	+ 0.62	JPM

High negative correlations

A	- 0.77	MSFT
MRK	- 0.7	A
MRK	- 0.62	T
A	- 0.62	F
T	- 0.52	MSFT
XOM	- 0.5	MSFT

EnGene Holdings Competition Risk-Adjusted Indicators

There is a big difference between EnGene Etf performing well and EnGene Holdings ETF 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 EnGene Holdings' 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
META	1.54	0.03	0.00	0.15	2.07	(1.49)	3.86	(3.21)	11.55
MSFT	0.98	(0.11)	0.00	(0.03)	0.00	0.00	1.77	(2.45)	5.77
UBER	1.75	(0.05)	(0.02)	0.06	2.12	(2.14)	5.29	(3.33)	13.81
F	1.73	(0.24)	0.00	(0.05)	0.00	0.00	3.21	(3.24)	22.50
T	0.93	0.34	0.18	20.64	0.88	(1.07)	2.53	(2.20)	7.97
A	1.07	(0.01)	(0.01)	0.09	1.33	(1.05)	2.69	(2.08)	6.98
CRM	1.27	0.05	0.04	0.15	1.32	(1.36)	2.93	(2.21)	7.90
JPM	1.08	0.00	0.01	0.11	1.66	(0.97)	2.05	(2.38)	7.98
MRK	1.10	0.00	0.00	0.00	0.00	0.00	2.01	(2.09)	13.12
XOM	1.07	0.00	(0.03)	0.10	1.28	(1.12)	2.10	(2.09)	6.61

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