Advanced Biomed Correlations

ADVB Stock

0.24 0.01 4.00%

The current 90-days correlation between Advanced Biomed Common and BioNexus Gene Lab is 0.03 (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

Pay attention - limited upside

The correlation between Advanced Biomed Common and DJI is -0.74 (i.e., Pay attention - limited upside) 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 manufacturing.

Moving together with Advanced Stock

0.77	EW	Edwards Lifesciences Corp	Pair Corr
0.85	IPD	Impedimed Earnings Call This Week	Pair Corr
0.65	VNRX	Volitionrx	Pair Corr
0.8	VVOS	Vivos Therapeutics	Pair Corr
0.75	OTC	Ocumetics Technology Corp	Pair Corr
0.86	ELAB	Elevai Labs Common	Pair Corr
0.78	EMBC	Embecta Corp	Pair Corr
0.93	XEJ	Accuray Incorporated	Pair Corr
0.88	ENOV	Enovis Corp	Pair Corr

Moving against Advanced Stock

0.89	EDAP	EDAP TMS SA	Pair Corr
0.84	EKSO	Ekso Bionics Holdings	Pair Corr
0.73	VREX	Varex Imaging Corp	Pair Corr
0.71	DXCM	DexCom Inc	Pair Corr
0.69	HYB	HOYA	Pair Corr
0.65	SKAN	SKAN Group AG	Pair Corr
0.47	7D2A	SEDANA MEDICAL AB	Pair Corr
0.78	BDX	Becton Dickinson	Pair Corr
0.73	QIPT	Quipt Home Medical	Pair Corr
0.73	AVR	Anteris Technologies	Pair Corr
0.73	BAX	Baxter International	Pair Corr
0.67	DRW8	Drgerwerk AG	Pair Corr
0.61	46K	IRadimed	Pair Corr
0.53	BB1	Blinklab	Pair Corr

Related Correlations Analysis

	BGLC	TRIB	RDGT	APM	XAIR	CHEK	MRKR	MBIO	TNON	GELS
BGLC		0.38	0.85	0.91	0.02	-0.1	-0.55	0.85	0.93	0.37	BGLC
TRIB	0.38		0.5	0.46	-0.22	0.4	-0.43	0.47	0.52	0.37	TRIB
RDGT	0.85	0.5		0.9	-0.02	-0.02	-0.6	0.82	0.86	0.4	RDGT
APM	0.91	0.46	0.9		0.1	-0.16	-0.69	0.86	0.89	0.44	APM
XAIR	0.02	-0.22	-0.02	0.1		-0.47	0.07	0.17	0.1	0.58	XAIR
CHEK	-0.1	0.4	-0.02	-0.16	-0.47		0.24	-0.04	-0.08	-0.03	CHEK
MRKR	-0.55	-0.43	-0.6	-0.69	0.07	0.24		-0.45	-0.56	-0.11	MRKR
MBIO	0.85	0.47	0.82	0.86	0.17	-0.04	-0.45		0.89	0.57	MBIO
TNON	0.93	0.52	0.86	0.89	0.1	-0.08	-0.56	0.89		0.53	TNON
GELS	0.37	0.37	0.4	0.44	0.58	-0.03	-0.11	0.57	0.53		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

TNON	+ 0.93	BGLC
APM	+ 0.91	BGLC
APM	+ 0.9	RDGT
TNON	+ 0.89	APM
TNON	+ 0.89	MBIO
TNON	+ 0.86	RDGT

High negative correlations

MRKR	- 0.69	APM
MRKR	- 0.6	RDGT
TNON	- 0.56	MRKR
MRKR	- 0.55	BGLC
CHEK	- 0.47	XAIR
MBIO	- 0.45	MRKR

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	3.19	(1.35)	0.00	(0.85)	0.00	0.00	5.09	(9.19)	24.17
TRIB	4.75	(0.08)	(0.01)	0.00	5.43	(8.73)	12.86	(8.97)	64.13
RDGT	6.26	(0.27)	0.00	(0.01)	0.00	0.00	11.72	(15.73)	91.56
APM	3.72	(0.79)	0.00	(1.55)	0.00	0.00	5.51	(10.53)	28.25
XAIR	7.39	0.48	0.04	(0.12)	6.15	(13.15)	14.46	(10.16)	163.02
CHEK	9.87	3.00	0.41	(4.09)	6.07	(13.88)	17.16	(10.37)	198.26
MRKR	5.36	0.79	0.13	72.80	5.59	(6.00)	11.81	(9.17)	28.69
MBIO	3.60	(0.49)	0.00	(0.33)	0.00	0.00	9.18	(7.22)	27.04
TNON	3.14	(0.70)	0.00	(0.62)	0.00	0.00	6.38	(8.53)	32.51
GELS	4.29	(0.23)	0.00	(0.11)	0.00	0.00	6.90	(7.34)	55.89

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