Erasca Correlations

ERAS Stock

USD 3.28 0.01 0.31%

The current 90-days correlation between Erasca Inc and Keros Therapeutics is 0.32 (i.e., Weak diversification). The correlation of Erasca 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.

Erasca Correlation With Market

Significant diversification

The correlation between Erasca Inc and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Erasca Inc 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 Erasca Inc. 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.

Moving together with Erasca Stock

0.73	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.61	ANIK	Anika Therapeutics	Pair Corr
0.82	IRMD	Iradimed Earnings Call This Week	Pair Corr
0.61	ITGR	Integer Holdings Corp	Pair Corr
0.69	OFIX	Orthofix Medical	Pair Corr
0.84	SGHT	Sight Sciences Earnings Call This Week	Pair Corr
0.75	AAC	AAC Holdings	Pair Corr
0.7	MDH	MDH Acquisition Corp	Pair Corr
0.78	APAC	Stonebridge Acquisition Symbol Change	Pair Corr
0.76	ARTE	Artemis Strategic	Pair Corr
0.66	TRCA	Twin Ridge Capital	Pair Corr

Moving against Erasca Stock

0.62	ALVO	Alvotech	Pair Corr
0.54	ONCT	Oncternal Therapeutics	Pair Corr
0.51	MRK	Merck Company Earnings Call This Week	Pair Corr
0.51	IMMP	Immutep Ltd ADR Earnings Call This Week	Pair Corr
0.5	ENTX	Entera Bio	Pair Corr
0.49	TARA	Protara Therapeutics Earnings Call This Week	Pair Corr
0.47	ATHE	Alterity Therapeutics	Pair Corr
0.35	NPCE	Neuropace	Pair Corr
0.63	CVI	CVR Energy Earnings Call This Week	Pair Corr
0.56	LION	Lionsgate Studios Corp	Pair Corr

Related Correlations Analysis

	IPSC	NGM	KROS	GLUE	GRCL	THRX	DSGN	EWTX	CCCC	MLYS
IPSC		0.0	0.49	0.34	-0.4	0.39	0.24	-0.36	0.18	0.04	IPSC
NGM	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NGM
KROS	0.49	0.0		0.92	-0.71	0.26	0.42	-0.04	0.8	0.28	KROS
GLUE	0.34	0.0	0.92		-0.72	0.23	0.38	0.03	0.85	0.25	GLUE
GRCL	-0.4	0.0	-0.71	-0.72		-0.46	-0.21	0.31	-0.48	0.04	GRCL
THRX	0.39	0.0	0.26	0.23	-0.46		-0.15	-0.28	-0.01	-0.13	THRX
DSGN	0.24	0.0	0.42	0.38	-0.21	-0.15		0.43	0.57	0.69	DSGN
EWTX	-0.36	0.0	-0.04	0.03	0.31	-0.28	0.43		0.38	0.77	EWTX
CCCC	0.18	0.0	0.8	0.85	-0.48	-0.01	0.57	0.38		0.46	CCCC
MLYS	0.04	0.0	0.28	0.25	0.04	-0.13	0.69	0.77	0.46		MLYS
	IPSC	NGM	KROS	GLUE	GRCL	THRX	DSGN	EWTX	CCCC	MLYS

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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

GLUE	+ 0.92	KROS
CCCC	+ 0.85	GLUE
CCCC	+ 0.8	KROS
MLYS	+ 0.77	EWTX
MLYS	+ 0.69	DSGN
CCCC	+ 0.57	DSGN

High negative correlations

GRCL	- 0.72	GLUE
GRCL	- 0.71	KROS
CCCC	- 0.48	GRCL
THRX	- 0.46	GRCL
GRCL	- 0.4	IPSC
EWTX	- 0.36	IPSC

Risk-Adjusted Indicators

There is a big difference between Erasca Stock performing well and Erasca 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 Erasca'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
IPSC	4.56	(0.20)	0.00	2.17	0.00	0.00	11.11	(8.81)	30.97
NGM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KROS	2.28	(0.15)	0.00	(0.03)	0.00	0.00	6.08	(4.22)	16.46
GLUE	4.01	(0.29)	0.00	(0.07)	0.00	0.00	8.36	(7.39)	24.79
GRCL	5.71	1.36	0.19	1.73	6.35	(6.70)	16.34	(6.25)	52.11
THRX	5.44	(0.75)	0.00	(0.20)	0.00	0.00	11.75	(8.57)	90.33
DSGN	3.58	0.62	0.16	0.70	3.30	(4.75)	8.19	(6.50)	37.04
EWTX	2.99	0.39	0.08	3.92	3.64	(2.97)	6.29	(5.82)	15.05
CCCC	3.73	(0.19)	(0.01)	0.01	4.34	(4.43)	11.08	(8.33)	23.76
MLYS	2.45	0.21	0.07	0.27	2.80	(2.74)	4.90	(4.36)	16.39

Erasca Corporate Management

Esq JD	General Secretary	Profile
Michael Varney	Scientific Development	Profile
Chandra Lovejoy	VP Affairs	Profile
Lisa TesvichBonora	Chief Officer	Profile
Nik Chetwyn	VP Operations	Profile
CPA MS	VP Fin	Profile
Wei MD	Chief Officer	Profile

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