Bio Essence Correlations

BIOE Stock

0.05 0.01 10.16%

The current 90-days correlation between Bio Essence and Intact Financial is 0.01 (i.e., Significant diversification). The correlation of Bio Essence 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.

Bio Essence Correlation With Market

Good diversification

The correlation between Bio Essence and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bio Essence and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Bio Essence could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bio Essence 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 Bio Essence - 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 Bio Essence to buy it.

Moving together with Bio Pink Sheet

0.7	MSFT	Microsoft	Pair Corr
0.71	META	Meta Platforms	Pair Corr
0.82	NTNX	Nutanix	Pair Corr

Moving against Bio Pink Sheet

0.89	EGP	EastGroup Properties	Pair Corr
0.88	GOOG	Alphabet Class C Sell-off Trend	Pair Corr
0.85	REGN	Regeneron Pharmaceuticals	Pair Corr
0.84	AAPL	Apple Inc	Pair Corr
0.81	STAG	STAG Industrial	Pair Corr
0.79	AKAM	Akamai Technologies	Pair Corr
0.71	BMYMP	Bristol Myers Squibb	Pair Corr
0.69	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.67	BAC	Bank of America	Pair Corr
0.65	PHAR	Pharming Group NV	Pair Corr
0.58	MSB	Mesabi Trust	Pair Corr
0.56	68233JBP8	US68233JBP84	Pair Corr
0.55	AVGO	Broadcom Aggressive Push	Pair Corr
0.54	HMDCF	HUTCHMED Limited	Pair Corr
0.47	ARRXF	Archer Materials	Pair Corr
0.41	CLRI	Cleartronic	Pair Corr
0.39	ZPTA	Zapata Computing Holdings Tech Boost	Pair Corr
0.91	APGE	Apogee Therapeutics,	Pair Corr
0.87	KYOCF	Kyocera	Pair Corr
0.86	RLMD	Relmada Therapeutics	Pair Corr
0.83	GM	General Motors	Pair Corr
0.81	CX	Cemex SAB de Sell-off Trend	Pair Corr
0.8	CHACR	Crane Harbor Acquisition	Pair Corr
0.76	AAL	American Airlines	Pair Corr
0.75	SHIP	Seanergy Maritime	Pair Corr
0.75	HL	Hecla Mining	Pair Corr

Related Correlations Analysis

	INFFF	AFSIM	AFSIC	AFSIP	SYANY	AFSIB	AFSIN	AFSIA
INFFF		-0.23	-0.15	-0.21	0.0	-0.06	-0.18	-0.27	INFFF
AFSIM	-0.23		0.4	0.31	0.0	0.39	-0.06	0.12	AFSIM
AFSIC	-0.15	0.4		0.56	0.0	0.17	-0.24	0.27	AFSIC
AFSIP	-0.21	0.31	0.56		0.0	0.25	0.01	0.12	AFSIP
SYANY	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SYANY
AFSIB	-0.06	0.39	0.17	0.25	0.0		0.08	0.2	AFSIB
AFSIN	-0.18	-0.06	-0.24	0.01	0.0	0.08		0.11	AFSIN
AFSIA	-0.27	0.12	0.27	0.12	0.0	0.2	0.11		AFSIA
	INFFF	AFSIM	AFSIC	AFSIP	SYANY	AFSIB	AFSIN	AFSIA

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

AFSIP	+ 0.56	AFSIC
AFSIC	+ 0.4	AFSIM
AFSIB	+ 0.39	AFSIM
AFSIP	+ 0.31	AFSIM
AFSIA	+ 0.27	AFSIC
AFSIB	+ 0.25	AFSIP

High negative correlations

AFSIA	- 0.27	INFFF
AFSIN	- 0.24	AFSIC
AFSIM	- 0.23	INFFF
AFSIP	- 0.21	INFFF
AFSIN	- 0.18	INFFF
AFSIC	- 0.15	INFFF

Risk-Adjusted Indicators

There is a big difference between Bio Pink Sheet performing well and Bio Essence 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 Bio Essence'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
INFFF	0.05	0.01	0.00	0.74	0.00	0.00	0.00	0.00	1.74
AFSIM	1.60	(0.18)	0.00	(0.38)	0.00	0.00	3.33	(4.91)	15.81
AFSIC	1.28	(0.09)	0.00	(1.01)	0.00	0.00	4.63	(5.53)	13.82
AFSIP	1.29	(0.16)	0.00	(0.35)	0.00	0.00	3.54	(3.89)	11.46
SYANY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AFSIB	1.16	(0.09)	0.00	(0.14)	0.00	0.00	3.92	(3.23)	20.27
AFSIN	2.26	0.03	0.00	0.20	3.95	(2.72)	6.44	(5.72)	39.17
AFSIA	1.01	0.01	(0.02)	0.25	1.42	(1.99)	3.67	(2.79)	11.51

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bio Essence 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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