Zymeworks Inc. (ZYME) — Stock Correlations & Overview
Over the past year, ZYME has moved most closely with JAZZ, CANC, BBC. Explore the stocks most correlated and inversely correlated with ZYME below, along with its price, financials, and company profile.
Stocks correlated with ZYME
Correlation of daily returns. Higher positive values move with ZYME; negative values move opposite it. Informational only, not investment advice.
Most correlated with ZYME
| Symbol | Company | Correlation |
|---|---|---|
| JAZZ | Jazz Pharmaceuticals, Inc.PHARMACEUTICAL PREPARATIONS | 0.51 |
| CANC | Tema Oncology ETF | 0.49 |
| BBC | Virtus Biotech Clinical Trials ETF | 0.47 |
| XBI | State Street SPDR S&P Biotech ETF | 0.45 |
| LABU | Direxion Daily S&P Biotech Bull 3X ETF | 0.45 |
Most inversely correlated with ZYME
| Symbol | Company | Correlation |
|---|---|---|
| LABD | Direxion Daily S&P Biotech Bear 3X ETF | -0.44 |
| BIS | ProShares UltraShort NASDAQ Biotechnology | -0.43 |
| LOBO | LOBO TECHNOLOGIES LTD. Class A Ordinary Shares | -0.25 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.22 |
| RXD | ProShares UltraShort Health Care | -0.22 |
Frequently asked questions about ZYME correlations
- Which stocks are most correlated with ZYME?
- Based on one year of daily returns, the stocks most correlated with Zymeworks Inc. (ZYME) are JAZZ (0.51), CANC (0.49) and BBC (0.47). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with ZYME?
- Over the past year, the stocks most inversely correlated with Zymeworks Inc. (ZYME) are LABD (-0.44), BIS (-0.43) and LOBO (-0.25). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these ZYME correlations calculated?
- We compute the correlation of daily returns between ZYME and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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