Bluejay Diagnostics Correlations

BJDX Stock

USD 3.50 0.06 1.74%

The current 90-days correlation between Bluejay Diagnostics and Bone Biologics Corp is 0.04 (i.e., Significant diversification). The correlation of Bluejay Diagnostics 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.

Bluejay Diagnostics Correlation With Market

Significant diversification

The correlation between Bluejay Diagnostics and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bluejay Diagnostics 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 Bluejay Diagnostics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

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

Moving together with Bluejay Stock

0.86	AGL	agilon health	Pair Corr
0.82	AMN	AMN Healthcare Services	Pair Corr
0.89	FORA	Forian Inc	Pair Corr
0.76	EVH	Evolent Health	Pair Corr
0.91	IVP	Inspire Veterinary	Pair Corr
0.61	ATPC	Agape ATP	Pair Corr
0.8	BACK	IMAC Holdings	Pair Corr
0.81	CYRX	Cryoport	Pair Corr
0.71	ME	23Andme Holding	Pair Corr
0.89	VALN	Valneva SE ADR Downward Rally	Pair Corr
0.66	VCNX	Vaccinex	Pair Corr

Moving against Bluejay Stock

0.75	VMD	Viemed Healthcare	Pair Corr
0.68	DOCS	Doximity	Pair Corr
0.54	ITGR	Integer Holdings Corp	Pair Corr
0.46	FOXO	FOXO Technologies	Pair Corr
0.44	VEEV	Veeva Systems Class	Pair Corr
0.75	OMIC	Singular Genomics Systems	Pair Corr
0.59	MMSI	Merit Medical Systems	Pair Corr
0.52	NXGL	Nexgel Inc	Pair Corr
0.4	CRVL	CorVel Corp Normal Trading	Pair Corr
0.32	NXGLW	NexGel Warrant	Pair Corr
0.81	BMY	Bristol Myers Squibb	Pair Corr
0.77	EWTX	Edgewise Therapeutics	Pair Corr
0.68	EXEL	Exelixis	Pair Corr
0.67	VRDN	Viridian Therapeutics	Pair Corr
0.58	KZR	Kezar Life Sciences	Pair Corr
0.33	KTTAW	Pasithea Therapeutics	Pair Corr

Related Correlations Analysis

	BBLG	TLIS	NUWE	HSCS	TIVC	NXL	INVO	MOTS	IRIX
BBLG		0.39	-0.12	0.69	-0.4	-0.47	-0.39	0.16	-0.09	BBLG
TLIS	0.39		-0.43	0.51	-0.06	-0.91	-0.51	0.69	0.51	TLIS
NUWE	-0.12	-0.43		-0.23	0.24	0.49	0.24	-0.45	-0.56	NUWE
HSCS	0.69	0.51	-0.23		-0.39	-0.57	-0.41	0.19	-0.04	HSCS
TIVC	-0.4	-0.06	0.24	-0.39		0.25	0.34	0.09	0.21	TIVC
NXL	-0.47	-0.91	0.49	-0.57	0.25		0.36	-0.71	-0.46	NXL
INVO	-0.39	-0.51	0.24	-0.41	0.34	0.36		-0.12	-0.04	INVO
MOTS	0.16	0.69	-0.45	0.19	0.09	-0.71	-0.12		0.64	MOTS
IRIX	-0.09	0.51	-0.56	-0.04	0.21	-0.46	-0.04	0.64		IRIX
	BBLG	TLIS	NUWE	HSCS	TIVC	NXL	INVO	MOTS	IRIX

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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

HSCS	+ 0.69	BBLG
MOTS	+ 0.69	TLIS
IRIX	+ 0.64	MOTS
HSCS	+ 0.51	TLIS
IRIX	+ 0.51	TLIS
NXL	+ 0.49	NUWE

High negative correlations

NXL	- 0.91	TLIS
MOTS	- 0.71	NXL
NXL	- 0.57	HSCS
IRIX	- 0.56	NUWE
INVO	- 0.51	TLIS
NXL	- 0.47	BBLG

Risk-Adjusted Indicators

There is a big difference between Bluejay Stock performing well and Bluejay Diagnostics 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 Bluejay Diagnostics' 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
BBLG	9.22	0.70	0.08	0.51	8.76	(15.35)	18.13	(17.14)	163.17
TLIS	4.85	(2.17)	0.00	(0.70)	0.00	0.00	5.32	(10.69)	68.77
NUWE	10.60	1.00	0.05	(0.29)	12.27	(13.25)	25.66	(25.00)	141.14
HSCS	5.11	(0.44)	0.00	(0.09)	0.00	0.00	11.44	(8.97)	58.33
TIVC	4.73	(0.23)	0.00	(0.36)	0.00	0.00	12.12	(6.90)	79.31
NXL	8.33	2.60	0.33	1.75	6.68	(11.18)	25.71	(12.22)	71.17
INVO	4.97	0.75	0.06	(0.11)	4.69	(8.22)	6.67	(6.85)	105.62
MOTS	3.80	(0.40)	0.00	(0.11)	0.00	0.00	9.09	(5.63)	56.89
IRIX	2.53	(0.19)	0.00	(0.17)	0.00	0.00	4.76	(5.33)	40.39

Bluejay Diagnostics Corporate Management

Kenneth CPA	Chief Officer	Profile
Kevin Vance	Chief Officer	Profile
Jason Cook	Chief Officer	Profile
Mark MD	Chief Advisor	Profile
Les DeLuca	Vice Operations	Profile
Eryn Graham	Marketing Manager	Profile

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