Advanced Biomedical Correlations

ABMT Stock

USD 0.0004 0.0002 100.00%

The correlation of Advanced Biomedical 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.

Advanced Biomedical Correlation With Market

Good diversification

The correlation between Advanced Biomedical Technologi and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advanced Biomedical Technologi and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Advanced Biomedical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Advanced Biomedical 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 Advanced Biomedical - 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 Advanced Biomedical Technologies to buy it.

Moving together with Advanced Pink Sheet

0.62

EYPT

Eyepoint Pharmaceuticals Earnings Call This Week

Pair Corr

Moving against Advanced Pink Sheet

0.56	CGON	CG Oncology Common	Pair Corr
0.48	ABCB	Ameris Bancorp	Pair Corr
0.44	SOJE	Southern Company	Pair Corr
0.43	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.41	BNL	Broadstone Net Lease Sell-off Trend	Pair Corr
0.39	CAPL	Crossamerica Partners	Pair Corr
0.38	XYIGY	Xinyi Glass Holdings	Pair Corr
0.37	GEL	Genesis Energy LP	Pair Corr
0.36	CMI	Cummins	Pair Corr
0.35	BKRKF	PT Bank Rakyat	Pair Corr
0.35	MZHOF	Mizuho Financial	Pair Corr
0.35	OXY	Occidental Petroleum Aggressive Push	Pair Corr
0.34	BKCYF	Bank Of Cyprus Holdings P Normal Trading	Pair Corr
0.32	JPSTF	JAPAN POST BANK	Pair Corr
0.57	VHI	Valhi Inc Earnings Call This Week	Pair Corr
0.56	GRBK	Green Brick Partners Downward Rally	Pair Corr
0.49	TG	Tredegar	Pair Corr
0.49	WEJTY	Webjet Limited	Pair Corr
0.38	ALFVF	Alfa Laval AB	Pair Corr
0.37	TDY	Teledyne Technologies	Pair Corr
0.32	BCO	Brinks Company	Pair Corr
0.32	IFS	Intercorp Financial	Pair Corr

Related Correlations Analysis

	VRAYQ	MDXL	HSMD	ECGI	FIORF	PTLF	MRRCF	NUGS	WCUI	ASFX
VRAYQ		0.0	0.0	-0.77	0.0	0.0	0.0	0.89	0.0	0.0	VRAYQ
MDXL	0.0		1.0	0.0	0.0	1.0	0.0	0.0	1.0	0.0	MDXL
HSMD	0.0	1.0		0.0	0.0	1.0	0.0	0.0	1.0	0.0	HSMD
ECGI	-0.77	0.0	0.0		0.0	0.0	0.0	-0.78	0.0	0.0	ECGI
FIORF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	FIORF
PTLF	0.0	1.0	1.0	0.0	0.0		0.0	0.0	1.0	0.0	PTLF
MRRCF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	MRRCF
NUGS	0.89	0.0	0.0	-0.78	0.0	0.0	0.0		0.0	0.0	NUGS
WCUI	0.0	1.0	1.0	0.0	0.0	1.0	0.0	0.0		0.0	WCUI
ASFX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ASFX
	VRAYQ	MDXL	HSMD	ECGI	FIORF	PTLF	MRRCF	NUGS	WCUI	ASFX

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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

HSMD	+ 1.0	MDXL
PTLF	+ 1.0	MDXL
WCUI	+ 1.0	MDXL
PTLF	+ 1.0	HSMD
WCUI	+ 1.0	HSMD
WCUI	+ 1.0	PTLF

High negative correlations

NUGS	- 0.78	ECGI
ECGI	- 0.77	VRAYQ
ASFX	- 0.0	WCUI
ASFX	- 0.0	NUGS
WCUI	- 0.0	NUGS
ASFX	- 0.0	MRRCF

Risk-Adjusted Indicators

There is a big difference between Advanced Pink Sheet performing well and Advanced Biomedical 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 Advanced Biomedical'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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VRAYQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MDXL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HSMD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ECGI	5.24	0.09	(0.03)	6.70	(19.23)	20.00	(16.67)	62.86
FIORF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PTLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MRRCF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NUGS	12.46	6.76	(1.24)	0.00	0.00	20.00	0.00	316.67
WCUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASFX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Advanced Biomedical 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.

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