Butterfly Network Correlations

BFLY Stock

USD 4.03 0.35 9.51%

The current 90-days correlation between Butterfly Network and Sycamore Entmt Grp is 0.07 (i.e., Significant diversification). The correlation of Butterfly Network 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.

Butterfly Network Correlation With Market

Weak diversification

The correlation between Butterfly Network 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 Butterfly Network and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Butterfly Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Butterfly Network. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

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

Moving together with Butterfly Stock

0.7

SKAN

SKAN Group AG

Pair Corr

Moving against Butterfly Stock

0.45	SPEC	Inspecs Group plc	Pair Corr
0.46	ELAB	Elevai Labs Common	Pair Corr
0.51	LXD1	INSPIRATION HEAGRLS-10	Pair Corr
0.39	ESTA	Establishment Labs	Pair Corr
0.32	FEMY	Femasys	Pair Corr
0.31	2M6	Medtronic PLC	Pair Corr

Related Correlations Analysis

	ONCSQ	LBHIX	MSTSX	VIASP	RRTLX	WQTM	OSHDF	SITKF	RWAYL	SEGI
ONCSQ		0.0	0.0	0.0	0.0	0.0	1.0	0.0	0.0	0.0	ONCSQ
LBHIX	0.0		0.83	0.9	0.87	0.3	0.0	-0.28	0.75	-0.7	LBHIX
MSTSX	0.0	0.83		0.9	0.97	0.31	0.0	-0.11	0.75	-0.63	MSTSX
VIASP	0.0	0.9	0.9		0.94	0.27	0.0	-0.23	0.82	-0.69	VIASP
RRTLX	0.0	0.87	0.97	0.94		0.28	0.0	-0.1	0.85	-0.65	RRTLX
WQTM	0.0	0.3	0.31	0.27	0.28		0.0	-0.09	0.0	-0.12	WQTM
OSHDF	1.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	OSHDF
SITKF	0.0	-0.28	-0.11	-0.23	-0.1	-0.09	0.0		0.07	0.22	SITKF
RWAYL	0.0	0.75	0.75	0.82	0.85	0.0	0.0	0.07		-0.56	RWAYL
SEGI	0.0	-0.7	-0.63	-0.69	-0.65	-0.12	0.0	0.22	-0.56		SEGI
	ONCSQ	LBHIX	MSTSX	VIASP	RRTLX	WQTM	OSHDF	SITKF	RWAYL	SEGI

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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

OSHDF	+ 1.0	ONCSQ
RRTLX	+ 0.97	MSTSX
RRTLX	+ 0.94	VIASP
VIASP	+ 0.9	LBHIX
VIASP	+ 0.9	MSTSX
RRTLX	+ 0.87	LBHIX

High negative correlations

SEGI	- 0.7	LBHIX
SEGI	- 0.69	VIASP
SEGI	- 0.65	RRTLX
SEGI	- 0.63	MSTSX
SEGI	- 0.56	RWAYL
SITKF	- 0.28	LBHIX

Risk-Adjusted Indicators

There is a big difference between Butterfly Stock performing well and Butterfly Network 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 Butterfly Network'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
ONCSQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LBHIX	0.12	0.03	0.01	0.37	0.00	(0.22)	0.24	(0.17)	2.15
MSTSX	0.61	0.18	0.23	0.28	0.29	(0.72)	0.91	(0.89)	12.34
VIASP	0.30	0.03	(0.01)	(21.68)	0.32	(0.33)	0.64	(0.70)	1.72
RRTLX	0.26	0.05	0.08	0.20	0.09	(0.33)	0.47	(0.46)	3.36
WQTM	1.69	0.04	0.03	0.06	1.98	(1.70)	3.22	(3.22)	9.00
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SITKF	2.68	0.16	0.04	0.16	2.96	(3.49)	7.81	(5.88)	17.28
RWAYL	0.11	0.02	(0.08)	(0.84)	0.00	(0.14)	0.24	(0.20)	0.88
SEGI	11.44	1.06	0.04	1.76	11.88	(30.13)	33.33	(25.00)	58.33

Butterfly Network Corporate Management

David Ramsey	Chief Officer	Profile
John Hammergren	Independent Director	Profile
Dawn Carfora	Independent Director	Profile
Stacey Pugh	Chief Commercial Officer	Profile
Victor Ku	Senior Officer	Profile
John Martin	Chief Medical Officer	Profile

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