BioAffinity Technologies Correlations

BIAF Stock

USD 1.18 0.05 4.07%

The current 90-days correlation between bioAffinity Technologies and Artelo Biosciences is 0.19 (i.e., Average diversification). The correlation of BioAffinity Technologies 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.

BioAffinity Technologies Correlation With Market

Weak diversification

The correlation between bioAffinity Technologies and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding bioAffinity Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with BioAffinity Stock

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

For more detail on how to invest in BioAffinity Stock please use our How to Invest in BioAffinity Technologies guide.

Moving together with BioAffinity Stock

0.67	PG	Procter Gamble	Pair Corr
0.86	HPQ	HP Inc	Pair Corr
0.92	HD	Home Depot	Pair Corr
0.84	MSFT	Microsoft	Pair Corr

Moving against BioAffinity Stock

0.9	CSCO	Cisco Systems	Pair Corr
0.89	MRK	Merck Company	Pair Corr
0.87	AMGN	Amgen Inc	Pair Corr
0.87	FTV	Fortive Corp	Pair Corr
0.83	TRV	The Travelers Companies	Pair Corr
0.83	XOM	Exxon Mobil Corp	Pair Corr
0.77	KO	Coca Cola	Pair Corr
0.74	CAT	Caterpillar	Pair Corr
0.72	GILD	Gilead Sciences	Pair Corr
0.72	AXP	American Express	Pair Corr
0.72	BAC	Bank of America	Pair Corr
0.62	IBM	International Business	Pair Corr
0.62	MCD	McDonalds	Pair Corr
0.56	MMM	3M Company	Pair Corr
0.49	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	ARTL	GTBP	MNDR	WOK	CARM	PBM	REVB	PTIX	LIPO	SLRX
ARTL		-0.17	0.83	0.69	0.7	0.83	0.95	0.94	0.84	0.9	ARTL
GTBP	-0.17		-0.09	-0.13	-0.01	-0.2	-0.23	-0.15	-0.17	-0.22	GTBP
MNDR	0.83	-0.09		0.78	0.59	0.75	0.77	0.9	0.84	0.78	MNDR
WOK	0.69	-0.13	0.78		0.6	0.68	0.65	0.77	0.75	0.59	WOK
CARM	0.7	-0.01	0.59	0.6		0.44	0.66	0.61	0.54	0.46	CARM
PBM	0.83	-0.2	0.75	0.68	0.44		0.82	0.89	0.93	0.89	PBM
REVB	0.95	-0.23	0.77	0.65	0.66	0.82		0.87	0.79	0.91	REVB
PTIX	0.94	-0.15	0.9	0.77	0.61	0.89	0.87		0.92	0.89	PTIX
LIPO	0.84	-0.17	0.84	0.75	0.54	0.93	0.79	0.92		0.82	LIPO
SLRX	0.9	-0.22	0.78	0.59	0.46	0.89	0.91	0.89	0.82		SLRX
	ARTL	GTBP	MNDR	WOK	CARM	PBM	REVB	PTIX	LIPO	SLRX

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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

REVB	+ 0.95	ARTL
PTIX	+ 0.94	ARTL
LIPO	+ 0.93	PBM
LIPO	+ 0.92	PTIX
SLRX	+ 0.91	REVB
SLRX	+ 0.9	ARTL

High negative correlations

REVB	- 0.23	GTBP
SLRX	- 0.22	GTBP
PBM	- 0.2	GTBP
LIPO	- 0.17	GTBP
GTBP	- 0.17	ARTL
PTIX	- 0.15	GTBP

Risk-Adjusted Indicators

There is a big difference between BioAffinity Stock performing well and BioAffinity Technologies 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 BioAffinity Technologies' 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
ARTL	5.34	(2.00)	0.00	(9.51)	0.00	0.00	6.59	(12.18)	44.88
GTBP	6.39	0.84	0.09	0.44	8.84	(7.55)	12.73	(11.96)	74.56
MNDR	9.10	(0.93)	0.00	(3.49)	0.00	0.00	22.16	(20.35)	121.66
WOK	11.96	(3.76)	0.00	1.01	0.00	0.00	19.82	(35.75)	121.59
CARM	10.53	(1.04)	0.00	0.30	0.00	0.00	22.92	(26.09)	73.18
PBM	5.40	(1.83)	0.00	(1.29)	0.00	0.00	8.10	(13.37)	63.42
REVB	2.88	(0.91)	0.00	(0.42)	0.00	0.00	5.26	(7.14)	19.41
PTIX	4.37	(1.58)	0.00	6.97	0.00	0.00	9.38	(8.72)	24.38
LIPO	6.27	(1.62)	0.00	(0.58)	0.00	0.00	15.00	(15.15)	42.20
SLRX	6.04	(2.13)	0.00	(3.92)	0.00	0.00	10.05	(13.48)	66.01

BioAffinity Technologies Corporate Management

Dallas Coleman	National Sales	Profile
William Bauta	Senior Therapeutics	Profile
Maria JD	President, Founder	Profile
Gordon MD	Chief Officer	Profile
Xavier MS	VP Operations	Profile

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