Advanced Biomed Correlations

ADVB Stock

0.32 0.02 5.88%

The current 90-days correlation between Advanced Biomed Common and BioNexus Gene Lab is 0.08 (i.e., Significant diversification). The correlation of Advanced Biomed 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.

Advanced Biomed Correlation With Market

Excellent diversification

The correlation between Advanced Biomed Common and DJI is -0.61 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advanced Biomed Common and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Advanced Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Advanced Biomed Common. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in private.

Moving together with Advanced Stock

0.72	BSX	Boston Scientific Corp	Pair Corr
0.8	IHC	Inspiration Healthcare	Pair Corr
0.63	STIM	Neuronetics	Pair Corr
0.66	STI	Solidion Technology Upward Rally	Pair Corr

Moving against Advanced Stock

0.76	DHR	Danaher Earnings Call This Week	Pair Corr
0.74	KRMD	Repro Med Systems	Pair Corr
0.68	LIVN	LivaNova PLC	Pair Corr
0.68	UFPT	UFP Technologies	Pair Corr
0.66	HAE	Haemonetics	Pair Corr
0.32	ITGR	Integer Holdings Corp	Pair Corr
0.8	AIZ	Assurant	Pair Corr
0.79	HLT	Hilton Worldwide Holdings	Pair Corr
0.77	KGC	Kinross Gold Aggressive Push	Pair Corr
0.76	KEYS	Keysight Technologies	Pair Corr
0.75	BIMT	Bitmis Corp	Pair Corr
0.75	MNHVF	Mowi ASA	Pair Corr
0.74	PHI	PLDT Inc ADR	Pair Corr
0.69	IDYA	Ideaya Biosciences	Pair Corr
0.68	USAS	Americas Silver Corp Trending	Pair Corr
0.67	LMND	Lemonade	Pair Corr
0.64	AEM	Agnico Eagle Mines	Pair Corr
0.59	FCTI	Fact Inc	Pair Corr
0.58	FCAP	First Capital	Pair Corr
0.58	MGDDY	Compagnie Generale des	Pair Corr
0.53	KAEPY	Kansai Electric Power Earnings Call This Week	Pair Corr
0.46	KMFG	KMFG	Pair Corr
0.38	RDEXF	Red Pine Exploration	Pair Corr

Related Correlations Analysis

	BGLC	TRIB	RDGT	APM	XAIR	CHEK	MRKR	MBIO	TNON	GELS
BGLC		0.44	-0.31	0.87	0.49	-0.22	-0.88	0.78	0.86	0.46	BGLC
TRIB	0.44		0.09	0.51	0.05	-0.11	-0.51	0.48	0.63	0.39	TRIB
RDGT	-0.31	0.09		-0.05	-0.62	0.76	0.01	-0.38	-0.1	-0.36	RDGT
APM	0.87	0.51	-0.05		0.48	-0.12	-0.86	0.81	0.85	0.53	APM
XAIR	0.49	0.05	-0.62	0.48		-0.44	-0.33	0.67	0.45	0.76	XAIR
CHEK	-0.22	-0.11	0.76	-0.12	-0.44		0.01	-0.39	-0.13	-0.36	CHEK
MRKR	-0.88	-0.51	0.01	-0.86	-0.33	0.01		-0.61	-0.84	-0.34	MRKR
MBIO	0.78	0.48	-0.38	0.81	0.67	-0.39	-0.61		0.79	0.72	MBIO
TNON	0.86	0.63	-0.1	0.85	0.45	-0.13	-0.84	0.79		0.57	TNON
GELS	0.46	0.39	-0.36	0.53	0.76	-0.36	-0.34	0.72	0.57		GELS
	BGLC	TRIB	RDGT	APM	XAIR	CHEK	MRKR	MBIO	TNON	GELS

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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

APM	+ 0.87	BGLC
TNON	+ 0.86	BGLC
TNON	+ 0.85	APM
MBIO	+ 0.81	APM
TNON	+ 0.79	MBIO
MBIO	+ 0.78	BGLC

High negative correlations

MRKR	- 0.88	BGLC
MRKR	- 0.86	APM
TNON	- 0.84	MRKR
XAIR	- 0.62	RDGT
MBIO	- 0.61	MRKR
MRKR	- 0.51	TRIB

Risk-Adjusted Indicators

There is a big difference between Advanced Stock performing well and Advanced Biomed 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 Biomed'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
BGLC	2.42	(0.66)	0.00	9.85	0.00	0.00	4.23	(6.61)	14.16
TRIB	4.43	0.07	0.00	0.25	5.30	(7.41)	12.86	(6.82)	64.13
RDGT	5.93	0.96	0.14	0.44	6.60	(6.81)	8.84	(14.49)	91.56
APM	2.73	(0.61)	0.00	2.73	0.00	0.00	4.46	(6.87)	28.25
XAIR	7.27	0.69	0.06	(0.14)	6.57	(11.37)	14.46	(11.85)	163.02
CHEK	9.87	3.18	0.41	(0.92)	6.07	(13.88)	17.16	(10.37)	198.26
MRKR	4.91	1.24	0.23	3.39	4.44	(5.73)	12.79	(7.04)	26.24
MBIO	3.12	(0.65)	0.00	(0.31)	0.00	0.00	7.00	(6.31)	21.51
TNON	2.56	(0.53)	0.00	(0.23)	0.00	0.00	5.98	(6.09)	16.03
GELS	4.60	(0.12)	0.00	(0.01)	0.00	0.00	8.33	(9.60)	55.89

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