Advanced Biomed Correlations

ADVB Stock

0.29 0.05 14.71%

The current 90-days correlation between Advanced Biomed Common and BioNexus Gene Lab is -0.16 (i.e., Good 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

Modest diversification

The correlation between Advanced Biomed Common and DJI is 0.23 (i.e., Modest 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 services.

Moving against Advanced Stock

0.59	GSTX	Graphene Solar Techn	Pair Corr
0.5	TRV	The Travelers Companies	Pair Corr
0.5	AA	Alcoa Corp	Pair Corr
0.47	BAC	Bank of America	Pair Corr
0.44	IRNRF	Iron Road Limited	Pair Corr
0.44	MCD	McDonalds	Pair Corr
0.43	XOM	Exxon Mobil Corp	Pair Corr
0.43	DD	Dupont De Nemours	Pair Corr
0.41	CSCO	Cisco Systems	Pair Corr
0.37	VZ	Verizon Communications Aggressive Push	Pair Corr
0.31	AXP	American Express	Pair Corr

Related Correlations Analysis

	BGLC	TRIB	RDGT	APM	XAIR	CHEK	MRKR	MBIO	TNON	GELS
BGLC		0.2	-0.66	0.48	0.76	0.22	-0.67	0.69	0.66	0.57	BGLC
TRIB	0.2		-0.36	0.4	0.39	-0.44	0.08	0.51	0.33	0.55	TRIB
RDGT	-0.66	-0.36		-0.62	-0.84	0.11	0.53	-0.75	-0.54	-0.71	RDGT
APM	0.48	0.4	-0.62		0.79	-0.51	-0.52	0.82	0.55	0.73	APM
XAIR	0.76	0.39	-0.84	0.79		-0.2	-0.71	0.95	0.76	0.89	XAIR
CHEK	0.22	-0.44	0.11	-0.51	-0.2		-0.16	-0.3	0.12	-0.27	CHEK
MRKR	-0.67	0.08	0.53	-0.52	-0.71	-0.16		-0.56	-0.68	-0.52	MRKR
MBIO	0.69	0.51	-0.75	0.82	0.95	-0.3	-0.56		0.74	0.92	MBIO
TNON	0.66	0.33	-0.54	0.55	0.76	0.12	-0.68	0.74		0.73	TNON
GELS	0.57	0.55	-0.71	0.73	0.89	-0.27	-0.52	0.92	0.73		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

MBIO	+ 0.95	XAIR
GELS	+ 0.92	MBIO
GELS	+ 0.89	XAIR
MBIO	+ 0.82	APM
XAIR	+ 0.79	APM
XAIR	+ 0.76	BGLC

High negative correlations

XAIR	- 0.84	RDGT
MBIO	- 0.75	RDGT
MRKR	- 0.71	XAIR
GELS	- 0.71	RDGT
TNON	- 0.68	MRKR
MRKR	- 0.67	BGLC

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	2.17	(0.40)	0.00	0.60	0.00	0.00	4.23	(5.43)	14.92
TRIB	4.52	(0.23)	0.00	(0.11)	0.00	0.00	9.09	(7.27)	64.13
RDGT	6.40	1.62	0.24	0.45	6.08	(7.66)	13.02	(10.22)	91.56
APM	3.79	(0.75)	0.00	(0.24)	0.00	0.00	7.92	(9.91)	45.27
XAIR	4.07	(1.77)	0.00	(0.87)	0.00	0.00	5.19	(10.16)	27.59
CHEK	9.87	3.12	0.42	(0.86)	6.07	(13.88)	17.16	(10.37)	198.26
MRKR	4.00	0.75	0.18	0.47	3.95	(4.72)	10.94	(6.25)	22.86
MBIO	3.39	(0.75)	0.00	(0.22)	0.00	0.00	6.54	(7.80)	25.74
TNON	2.53	(0.39)	0.00	(0.13)	0.00	0.00	5.98	(6.09)	17.46
GELS	3.40	(0.78)	0.00	(0.41)	0.00	0.00	5.88	(7.29)	33.80

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