89bio Correlations
| ETNB Stock | USD 8.14 0.04 0.49% |
The correlation of 89bio 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as 89bio moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 89bio Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between 89bio Inc and NYA is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 89bio Inc and NYA in the same portfolio, assuming nothing else is changed.
89bio |
The ability to find closely correlated positions to 89bio could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 89bio when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back 89bio - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling 89bio Inc to buy it.
Moving together with 89bio Stock
| 0.79 | DVAX | Dynavax Technologies | PairCorr |
| 0.86 | EGRX | Eagle Pharmaceuticals | PairCorr |
| 0.83 | BMY | Bristol Myers Squibb | PairCorr |
| 0.82 | JNJ | Johnson Johnson Financial Report 18th of July 2024 | PairCorr |
| 0.91 | GILD | Gilead Sciences | PairCorr |
| 0.87 | ABBV | AbbVie Inc | PairCorr |
| 0.89 | ALKS | Alkermes Plc | PairCorr |
| 0.68 | AQST | Aquestive Therapeutics | PairCorr |
Moving against 89bio Stock
| 0.81 | BSGM | Biosig Technologies | PairCorr |
| 0.71 | MRK | Merck Company Earnings Call Today | PairCorr |
| 0.56 | AMRX | Amneal Pharmaceuticals | PairCorr |
| 0.55 | DCPH | Deciphera Pharmaceuticals | PairCorr |
| 0.42 | AMGN | Amgen Inc Sell-off Trend | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between 89bio Stock performing well and 89bio 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 89bio'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MLGO | 26.40 | 10.70 | 1.62 | 1.46 | 4.93 | 11.64 | 852.61 | |||
| MSTSX | 0.46 | 0.01 | 0.00 | 0.05 | 0.67 | 0.90 | 3.08 | |||
| RRTLX | 0.26 | 0.01 | (0.03) | 0.05 | 0.22 | 0.59 | 1.36 | |||
| ANTMX | 0.62 | 0.04 | 0.07 | 0.08 | 0.62 | 1.23 | 3.55 | |||
| MLGF | 0.37 | 0.01 | (0.03) | (0.10) | 0.46 | 1.11 | 2.94 | |||
| GSFI | 2.98 | 1.54 | 0.00 | (1.72) | 0.00 | 0.00 | 100.00 | |||
| COLD | 1.28 | (0.18) | 0.00 | (0.14) | 0.00 | 2.54 | 8.95 | |||
| SEIC | 0.60 | (0.02) | (0.02) | 0.02 | 0.83 | 1.34 | 4.74 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in 89bio without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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89bio Corporate Management
Elected by the shareholders, the 89bio's board of directors comprises two types of representatives: 89bio inside directors who are chosen from within the company, and outside directors, selected externally and held independent of 89bio. The board's role is to monitor 89bio's management team and ensure that shareholders' interests are well served. 89bio's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, 89bio's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Harry MD | Chief Officer | Profile | |
| Rohan Palekar | CEO Director | Profile | |
| Quoc LeNguyen | Chief Quality | Profile | |
| Shiva CPA | Senior Officer | Profile | |
| Shiva Natarajan | Senior Officer | Profile | |
| Amanda Hill | VP Culture | Profile | |
| Melissa Abel | VP Communications | Profile |
Already Invested in 89bio Inc?
The danger of trading 89bio Inc is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of 89bio is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than 89bio. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile 89bio Inc is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether 89bio Inc offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of 89bio's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of 89bio Inc Stock. Outlined below are crucial reports that will aid in making a well-informed decision on 89bio Inc Stock: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in 89bio Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Complementary Tools for 89bio Stock analysis
When running 89bio's price analysis, check to measure 89bio's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy 89bio is operating at the current time. Most of 89bio's value examination focuses on studying past and present price action to predict the probability of 89bio's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move 89bio's price. Additionally, you may evaluate how the addition of 89bio to your portfolios can decrease your overall portfolio volatility.
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Is 89bio's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of 89bio. If investors know 89bio will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about 89bio listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (2.00) | Return On Assets (0.21) | Return On Equity (0.35) |
The market value of 89bio Inc is measured differently than its book value, which is the value of 89bio that is recorded on the company's balance sheet. Investors also form their own opinion of 89bio's value that differs from its market value or its book value, called intrinsic value, which is 89bio's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because 89bio's market value can be influenced by many factors that don't directly affect 89bio's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between 89bio's value and its price as these two are different measures arrived at by different means. Investors typically determine if 89bio is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, 89bio's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.