Biocardia Correlations

BCDA Stock

USD 1.13 0.03 2.59%

The current 90-days correlation between Biocardia and Creative Medical Technology is 0.02 (i.e., Significant diversification). The correlation of Biocardia 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.

Biocardia Correlation With Market

Very good diversification

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

Build AI portfolio with Biocardia Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Biocardia. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

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

Moving together with Biocardia Stock

0.68	VCYT	Veracyte Earnings Call This Week	Pair Corr
0.67	DRMA	Dermata Therapeutics	Pair Corr

Moving against Biocardia Stock

0.75	EQ	Equillium	Pair Corr
0.6	PYC	Physiomics Plc	Pair Corr
0.47	6C1	CytomX Therapeutics	Pair Corr
0.46	CMB	Cambium Bio Earnings Call This Week	Pair Corr
0.42	DRTS	Alpha Tau Medical	Pair Corr
0.4	GXEA	Galapagos NV Earnings Call This Week	Pair Corr
0.32	DNTH	Dianthus Therapeutics	Pair Corr
0.31	ALSEN	Sensorion SA	Pair Corr
0.61	S09	Sutro Biopharma Split	Pair Corr
0.52	SRZNW	Surrozen Warrant	Pair Corr
0.51	ALA	Arovella Therapeutics Earnings Call This Week	Pair Corr
0.49	VRTX	Vertex Pharmaceuticals	Pair Corr
0.48	NANO	Nanobiotix SA	Pair Corr
0.45	TF2	Takara Bio	Pair Corr
0.43	VTVT	vTv Therapeutics	Pair Corr
0.41	0P6S	Bayer AG NA	Pair Corr

Related Correlations Analysis

	CELZ	APRE	ACXP	KPRX	HCWB	ALZN	ADIL	INAB	PHIO	APVO
CELZ		0.83	0.77	-0.4	0.83	0.1	0.71	-0.26	0.01	0.71	CELZ
APRE	0.83		0.85	-0.54	0.83	0.32	0.86	-0.17	0.08	0.82	APRE
ACXP	0.77	0.85		-0.4	0.92	0.25	0.9	-0.35	0.03	0.9	ACXP
KPRX	-0.4	-0.54	-0.4		-0.32	0.29	-0.35	0.22	-0.22	-0.45	KPRX
HCWB	0.83	0.83	0.92	-0.32		0.22	0.87	-0.36	0.02	0.91	HCWB
ALZN	0.1	0.32	0.25	0.29	0.22		0.42	0.34	-0.25	0.14	ALZN
ADIL	0.71	0.86	0.9	-0.35	0.87	0.42		-0.12	0.04	0.84	ADIL
INAB	-0.26	-0.17	-0.35	0.22	-0.36	0.34	-0.12		0.03	-0.53	INAB
PHIO	0.01	0.08	0.03	-0.22	0.02	-0.25	0.04	0.03		0.16	PHIO
APVO	0.71	0.82	0.9	-0.45	0.91	0.14	0.84	-0.53	0.16		APVO
	CELZ	APRE	ACXP	KPRX	HCWB	ALZN	ADIL	INAB	PHIO	APVO

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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

HCWB	+ 0.92	ACXP
APVO	+ 0.91	HCWB
ADIL	+ 0.9	ACXP
APVO	+ 0.9	ACXP
ADIL	+ 0.87	HCWB
ADIL	+ 0.86	APRE

High negative correlations

KPRX	- 0.54	APRE
APVO	- 0.53	INAB
APVO	- 0.45	KPRX
KPRX	- 0.4	ACXP
KPRX	- 0.4	CELZ
INAB	- 0.36	HCWB

Risk-Adjusted Indicators

There is a big difference between Biocardia Stock performing well and Biocardia 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 Biocardia'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
CELZ	3.67	(0.81)	0.00	(0.28)	0.00	0.00	7.17	(9.64)	25.03
APRE	4.37	(0.60)	0.00	(0.23)	0.00	0.00	11.29	(10.58)	46.26
ACXP	4.14	(1.44)	0.00	(0.91)	0.00	0.00	9.45	(8.06)	49.19
KPRX	2.60	(0.16)	0.00	(0.09)	0.00	0.00	4.44	(4.89)	16.69
HCWB	5.01	(2.42)	0.00	(0.71)	0.00	0.00	8.72	(16.16)	42.74
ALZN	3.19	(0.10)	0.00	(0.01)	0.00	0.00	7.89	(6.48)	19.96
ADIL	3.14	(1.73)	0.00	(2.64)	0.00	0.00	5.70	(8.24)	34.48
INAB	4.92	0.03	0.02	0.09	4.81	(6.68)	14.29	(8.88)	37.96
PHIO	4.54	0.05	0.00	0.25	5.68	(5.84)	7.34	(9.65)	56.33
APVO	4.98	(1.86)	0.00	(1.20)	0.00	0.00	7.81	(10.34)	43.37

Biocardia Corporate Management

Edward Gillis	Senior Devices	Profile
Ian McNiece	Chief Officer	Profile
Sujith Shetty	Chief Regulatory	Profile
Sujith MBBS	Chief Regulatory	Profile
Miranda Benvenuti	Investor Executive	Profile

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