Akoya Biosciences Correlations

AKYA Stock

USD 2.12 0.04 1.85%

The current 90-days correlation between Akoya Biosciences and ATRION is -0.22 (i.e., Very good diversification). The correlation of Akoya Biosciences 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.

Akoya Biosciences Correlation With Market

Weak diversification

The correlation between Akoya Biosciences and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Akoya Biosciences and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Akoya Biosciences. 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.

For information on how to trade Akoya Stock refer to our How to Trade Akoya Stock guide.

Moving together with Akoya Stock

0.71

VRDN

Viridian Therapeutics

Pair Corr

Moving against Akoya Stock

0.43	IVP	Inspire Veterinary	Pair Corr
0.42	FORA	Forian Inc	Pair Corr
0.45	VCNX	Vaccinex	Pair Corr
0.38	BACK	IMAC Holdings	Pair Corr
0.64	FBRX	Forte Biosciences Trending	Pair Corr

Related Correlations Analysis

	ATRC	ATRI	ICUI	HAE	ANGO	ATR	COO	INFU	PDEX
ATRC		0.25	0.24	0.67	-0.17	0.83	-0.16	0.7	0.93	ATRC
ATRI	0.25		-0.45	0.25	-0.04	0.24	-0.73	0.28	0.21	ATRI
ICUI	0.24	-0.45		0.1	-0.35	0.48	0.61	0.11	0.26	ICUI
HAE	0.67	0.25	0.1		0.04	0.53	-0.34	0.9	0.78	HAE
ANGO	-0.17	-0.04	-0.35	0.04		-0.45	-0.02	-0.22	-0.23	ANGO
ATR	0.83	0.24	0.48	0.53	-0.45		-0.05	0.61	0.81	ATR
COO	-0.16	-0.73	0.61	-0.34	-0.02	-0.05		-0.37	-0.18	COO
INFU	0.7	0.28	0.11	0.9	-0.22	0.61	-0.37		0.82	INFU
PDEX	0.93	0.21	0.26	0.78	-0.23	0.81	-0.18	0.82		PDEX
	ATRC	ATRI	ICUI	HAE	ANGO	ATR	COO	INFU	PDEX

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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

PDEX	+ 0.93	ATRC
INFU	+ 0.9	HAE
ATR	+ 0.83	ATRC
PDEX	+ 0.82	INFU
PDEX	+ 0.81	ATR
PDEX	+ 0.78	HAE

High negative correlations

COO	- 0.73	ATRI
ATR	- 0.45	ANGO
ICUI	- 0.45	ATRI
INFU	- 0.37	COO
ANGO	- 0.35	ICUI
COO	- 0.34	HAE

Risk-Adjusted Indicators

There is a big difference between Akoya Stock performing well and Akoya Biosciences 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 Akoya Biosciences' 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
ATRC	1.93	0.51	0.28	0.51	1.41	(2.32)	4.67	(3.12)	23.09
ATRI	0.39	0.00	0.00	0.12	0.00	0.00	0.94	(1.35)	6.29
ICUI	1.22	(0.01)	0.01	0.09	1.32	(1.30)	2.87	(2.38)	7.25
HAE	1.44	0.10	0.07	0.21	1.37	(1.69)	4.24	(2.10)	14.50
ANGO	2.12	(0.07)	0.00	0.20	0.00	0.00	3.71	(4.03)	19.00
ATR	0.71	0.13	0.08	0.31	0.88	(0.75)	1.47	(1.37)	7.86
COO	0.87	0.07	0.00	0.30	0.87	(0.94)	1.39	(1.64)	13.98
INFU	3.08	0.47	0.17	0.33	2.69	(3.59)	7.64	(4.81)	22.10
PDEX	3.94	1.11	0.20	0.94	4.33	(4.33)	9.99	(9.00)	28.08

Akoya Biosciences Corporate Management

Clifford Hoyt	VP Affairs	Profile
Marilee MBA	Chief Officer	Profile
Jennifer Kamocsay	General Counsel	Profile
Nikolay Samusik	CoFounder	Profile
Priyam Shah	Senior Strategy	Profile

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