BICO Group Correlations

BICO Stock

16.77 0.45 2.61%

The current 90-days correlation between BICO Group AB and Genovis AB is 0.23 (i.e., Modest diversification). The correlation of BICO Group 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.

BICO Group Correlation With Market

Very good diversification

The correlation between BICO Group AB and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BICO Group AB and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BICO Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BICO Group when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back BICO Group - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling BICO Group AB to buy it.

Moving together with BICO Stock

0.78	PAX	Paxman AB	Pair Corr
0.66	SPEC	SpectraCure AB	Pair Corr
0.65	SEZI	Senzime AB	Pair Corr

Moving against BICO Stock

0.64	MNTC	Mentice AB Earnings Call Next Week	Pair Corr
0.61	SHB-A	Svenska Handelsbanken	Pair Corr
0.58	AZN	AstraZeneca PLC Earnings Call This Week	Pair Corr
0.57	ADDV-B	ADDvise Group B	Pair Corr
0.57	SWED-A	Swedbank AB	Pair Corr
0.56	SDS	Seamless Distribution	Pair Corr
0.55	NDA-SE	Nordea Bank Abp	Pair Corr
0.53	SHB-B	Svenska Handelsbanken Earnings Call Tomorrow	Pair Corr
0.5	INVE-B	Investor AB ser	Pair Corr
0.48	INVE-A	Investor AB ser	Pair Corr
0.42	ATCO-B	Atlas Copco AB	Pair Corr
0.4	CAMX	Camurus AB	Pair Corr
0.39	ATCO-A	Atlas Copco AB	Pair Corr
0.38	NOBA	NOBA Bank	Pair Corr
0.36	XVIVO	Xvivo Perfusion AB	Pair Corr

Related Correlations Analysis

	OSSD	PAX	STIL	DMYD-B	GENO	SEZI	CRAD-B	ADDV-B	ONCO	SEDANA
OSSD		0.58	0.37	-0.58	0.08	0.61	0.18	-0.5	0.67	0.26	OSSD
PAX	0.58		-0.01	-0.53	0.27	0.6	0.61	-0.74	0.65	-0.25	PAX
STIL	0.37	-0.01		-0.5	-0.37	-0.02	-0.15	-0.14	0.47	-0.01	STIL
DMYD-B	-0.58	-0.53	-0.5		0.5	-0.11	-0.27	0.72	-0.85	0.28	DMYD-B
GENO	0.08	0.27	-0.37	0.5		0.58	0.2	0.1	-0.24	0.39	GENO
SEZI	0.61	0.6	-0.02	-0.11	0.58		0.18	-0.23	0.26	0.37	SEZI
CRAD-B	0.18	0.61	-0.15	-0.27	0.2	0.18		-0.55	0.33	-0.4	CRAD-B
ADDV-B	-0.5	-0.74	-0.14	0.72	0.1	-0.23	-0.55		-0.8	0.32	ADDV-B
ONCO	0.67	0.65	0.47	-0.85	-0.24	0.26	0.33	-0.8		-0.21	ONCO
SEDANA	0.26	-0.25	-0.01	0.28	0.39	0.37	-0.4	0.32	-0.21		SEDANA
	OSSD	PAX	STIL	DMYD-B	GENO	SEZI	CRAD-B	ADDV-B	ONCO	SEDANA

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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

ADDV-B	+ 0.72	DMYD-B
ONCO	+ 0.67	OSSD
ONCO	+ 0.65	PAX
SEZI	+ 0.61	OSSD
CRAD-B	+ 0.61	PAX
SEZI	+ 0.6	PAX

High negative correlations

ONCO	- 0.85	DMYD-B
ONCO	- 0.8	ADDV-B
ADDV-B	- 0.74	PAX
DMYD-B	- 0.58	OSSD
ADDV-B	- 0.55	CRAD-B
DMYD-B	- 0.53	PAX

Risk-Adjusted Indicators

There is a big difference between BICO Stock performing well and BICO Group 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 BICO Group'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
OSSD	2.22	(0.44)	0.00	(0.59)	0.00	0.00	4.86	(4.89)	15.50
PAX	1.89	(0.51)	0.00	(2.32)	0.00	0.00	3.42	(4.56)	11.94
STIL	1.69	(0.04)	0.00	(0.09)	0.00	0.00	3.81	(3.13)	9.59
DMYD-B	2.64	0.77	0.31	1.39	1.90	(3.45)	8.69	(3.34)	22.62
GENO	1.79	(0.11)	0.00	1.87	0.00	0.00	3.16	(3.85)	8.54
SEZI	2.11	(0.29)	0.00	(0.38)	0.00	0.00	3.42	(4.29)	14.56
CRAD-B	1.17	(0.06)	0.00	0.22	0.00	0.00	2.51	(2.96)	10.54
ADDV-B	1.88	0.82	0.46	(3.82)	0.50	(3.34)	5.56	(2.33)	30.53
ONCO	3.33	(0.74)	0.00	0.76	0.00	0.00	7.87	(6.90)	29.44
SEDANA	1.91	(0.06)	0.00	0.22	0.00	0.00	3.88	(4.17)	10.32

Be your own money manager

Our tools can tell you how much better you can do entering a position in BICO Group without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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BICO Group Corporate Management

Elected by the shareholders, the BICO Group's board of directors comprises two types of representatives: BICO Group inside directors who are chosen from within the company, and outside directors, selected externally and held independent of BICO. The board's role is to monitor BICO Group's management team and ensure that shareholders' interests are well served. BICO Group's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, BICO Group's outside directors are responsible for providing unbiased perspectives on the board's policies.

Erik Gatenholm	CEO, CoFounder	Profile
Lotta Bus	Gen SVP	Profile
Karin Danielsson	Global Director	Profile
Asa Hillsten	VP Relations	Profile
Itedale Redwan	Chief Bioprinting	Profile
Erica Bell	VP Officer	Profile
Mikael Engblom	Interim Officer	Profile

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