Biodesix Correlations

BDSX Stock

USD 1.20 0.01 0.84%

The current 90-days correlation between Biodesix and Genetron Holdings is -0.22 (i.e., Very good diversification). The correlation of Biodesix 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Biodesix Correlation With Market

Good diversification

The correlation between Biodesix and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Biodesix 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 Biodesix. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more information on how to buy Biodesix Stock please use our How to Invest in Biodesix guide.

Moving together with Biodesix Stock

0.82	ME	23Andme Holding	Pair Corr
0.81	VALN	Valneva SE ADR Downward Rally	Pair Corr
0.81	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.9	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.78	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.75	IPSC	Century Therapeutics	Pair Corr
0.81	MTEM	Molecular Templates	Pair Corr
0.86	NKTX	Nkarta Inc	Pair Corr
0.78	TPST	Tempest Therapeutics	Pair Corr
0.85	AGL	agilon health	Pair Corr
0.62	BACK	IMAC Holdings	Pair Corr
0.7	TCHH	Trustcash Holdings	Pair Corr
0.72	SHG	Shinhan Financial	Pair Corr
0.8	EC	Ecopetrol SA ADR	Pair Corr
0.8	HYMTF	Hyundai Motor	Pair Corr
0.8	TLK	Telkom Indonesia Tbk	Pair Corr

Moving against Biodesix Stock

0.71	MDGL	Madrigal Pharmaceuticals	Pair Corr
0.44	KZR	Kezar Life Sciences	Pair Corr
0.44	RNXT	RenovoRx	Pair Corr
0.39	MLYS	Mineralys Therapeutics, Downward Rally	Pair Corr
0.86	BAC	Bank of America Aggressive Push	Pair Corr
0.86	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.82	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.78	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.78	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.75	T	ATT Inc Aggressive Push	Pair Corr
0.67	HPQ	HP Inc	Pair Corr
0.61	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.57	HD	Home Depot	Pair Corr
0.43	KB	KB Financial Group	Pair Corr
0.4	VFS	VinFast Auto Earnings Call This Week	Pair Corr

Related Correlations Analysis

	GTH	ACRS	CSTL	PRE	DRIO	OLK	XGN	STIM	FONR	ENZ
GTH		0.24	0.11	0.36	-0.66	0.03	0.15	0.21	-0.07	-0.16	GTH
ACRS	0.24		0.08	-0.04	-0.37	0.75	0.38	0.06	-0.51	-0.34	ACRS
CSTL	0.11	0.08		0.16	0.21	0.38	-0.59	0.55	-0.49	0.3	CSTL
PRE	0.36	-0.04	0.16		-0.2	-0.07	0.05	0.15	-0.01	0.02	PRE
DRIO	-0.66	-0.37	0.21	-0.2		0.07	-0.39	0.23	-0.08	0.2	DRIO
OLK	0.03	0.75	0.38	-0.07	0.07		-0.11	0.27	-0.77	-0.05	OLK
XGN	0.15	0.38	-0.59	0.05	-0.39	-0.11		-0.47	0.26	-0.46	XGN
STIM	0.21	0.06	0.55	0.15	0.23	0.27	-0.47		-0.26	0.24	STIM
FONR	-0.07	-0.51	-0.49	-0.01	-0.08	-0.77	0.26	-0.26		0.0	FONR
ENZ	-0.16	-0.34	0.3	0.02	0.2	-0.05	-0.46	0.24	0.0		ENZ
	GTH	ACRS	CSTL	PRE	DRIO	OLK	XGN	STIM	FONR	ENZ

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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

OLK	+ 0.75	ACRS
STIM	+ 0.55	CSTL
XGN	+ 0.38	ACRS
OLK	+ 0.38	CSTL
PRE	+ 0.36	GTH
ENZ	+ 0.3	CSTL

High negative correlations

FONR	- 0.77	OLK
DRIO	- 0.66	GTH
XGN	- 0.59	CSTL
FONR	- 0.51	ACRS
FONR	- 0.49	CSTL
STIM	- 0.47	XGN

Risk-Adjusted Indicators

There is a big difference between Biodesix Stock performing well and Biodesix 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 Biodesix'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
GTH	1.87	0.13	(0.02)	(0.02)	2.49	(2.24)	3.45	(4.08)	14.43
ACRS	5.18	2.28	0.48	(33.92)	2.92	(6.25)	15.47	(5.51)	66.90
CSTL	2.45	(0.04)	0.00	0.07	2.79	(2.90)	5.90	(4.38)	19.49
PRE	4.28	(0.10)	0.00	0.16	0.00	0.00	9.93	(8.62)	28.16
DRIO	3.74	(0.31)	0.00	(0.03)	0.00	0.00	8.99	(5.83)	25.17
OLK	0.63	0.18	0.09	(1.85)	0.48	(0.76)	1.58	(1.37)	4.37
XGN	3.69	0.38	0.11	0.47	3.39	(4.84)	9.62	(6.46)	24.12
STIM	4.90	(0.15)	0.00	0.03	7.16	(6.82)	8.33	(9.24)	59.07
FONR	1.51	(0.11)	0.00	(0.06)	0.00	0.00	2.15	(2.97)	9.69
ENZ	1.29	(0.08)	0.00	(0.28)	0.00	0.00	2.97	(1.94)	7.62

Biodesix Corporate Management

Christopher Vazquez	Controller VP	Profile
James MD	CoChief Officer	Profile
Matt Stauffer	VP Sales	Profile
Dr III	Chief Officer	Profile
Ryan Siurek	Chief Officer	Profile
Heinrich Rder	Founder CTO	Profile

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