Bluejay Diagnostics Correlations

BJDX Stock

USD 2.72 0.26 8.72%

The current 90-days correlation between Bluejay Diagnostics and Tivic Health Systems is 0.22 (i.e., Modest 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

Pay attention - limited upside

The correlation between Bluejay Diagnostics and DJI is -0.76 (i.e., Pay attention - limited upside) 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.

Build AI portfolio with Bluejay Stock

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

0.88	OTC	Ocumetics Technology Corp	Pair Corr
0.7	AHC	Austco Healthcare	Pair Corr
0.87	IVF	INVO Fertility Symbol Change	Pair Corr
0.87	IHC	Inspiration Healthcare	Pair Corr
0.7	NTI	Neurotech International	Pair Corr
0.68	MLSS	Milestone Scientific	Pair Corr
0.77	TNONW	Tenon Medical Warrant	Pair Corr
0.65	NVNO	enVVeno Medical Corp	Pair Corr

Moving against Bluejay Stock

0.92	QIPT	Quipt Home Medical	Pair Corr
0.91	4DX	4DMEDICAL	Pair Corr
0.73	VMD	Viemed Healthcare	Pair Corr
0.54	AMS	Advanced Medical Sol	Pair Corr
0.8	PINK	Perimeter Medical Imaging	Pair Corr
0.79	AFW	Align Technology	Pair Corr
0.67	PRN	Profound Medical Corp	Pair Corr
0.59	IMR	Imricor Medical Systems	Pair Corr
0.56	EYE	Nova EYE Medical	Pair Corr
0.47	5EZ	SHIP HEALTHCARE HLDGINC	Pair Corr
0.44	TLT	Theralase Technologies	Pair Corr
0.42	FPH	Fisher Paykel Healthcare	Pair Corr
0.38	AFME	Affluent Medical SAS	Pair Corr
0.32	CREO	Creo Medical Group	Pair Corr

Related Correlations Analysis

	TIVC	VTAK	WINT	UPC	BCTXZ	MLEC	MSPR	ELAB	NKGN	WGS
TIVC		0.55	0.9	-0.18	0.72	0.42	0.76	0.8	-0.74	0.82	TIVC
VTAK	0.55		0.37	0.2	-0.04	0.33	0.24	0.33	-0.16	0.39	VTAK
WINT	0.9	0.37		-0.34	0.79	0.59	0.93	0.93	-0.92	0.8	WINT
UPC	-0.18	0.2	-0.34		-0.34	-0.33	-0.46	-0.43	0.51	-0.22	UPC
BCTXZ	0.72	-0.04	0.79	-0.34		0.27	0.76	0.71	-0.79	0.66	BCTXZ
MLEC	0.42	0.33	0.59	-0.33	0.27		0.66	0.66	-0.66	0.18	MLEC
MSPR	0.76	0.24	0.93	-0.46	0.76	0.66		0.95	-0.96	0.68	MSPR
ELAB	0.8	0.33	0.93	-0.43	0.71	0.66	0.95		-0.94	0.8	ELAB
NKGN	-0.74	-0.16	-0.92	0.51	-0.79	-0.66	-0.96	-0.94		-0.69	NKGN
WGS	0.82	0.39	0.8	-0.22	0.66	0.18	0.68	0.8	-0.69		WGS
	TIVC	VTAK	WINT	UPC	BCTXZ	MLEC	MSPR	ELAB	NKGN	WGS

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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

ELAB	+ 0.95	MSPR
MSPR	+ 0.93	WINT
ELAB	+ 0.93	WINT
WINT	+ 0.9	TIVC
WGS	+ 0.82	TIVC
ELAB	+ 0.8	TIVC

High negative correlations

NKGN	- 0.96	MSPR
NKGN	- 0.94	ELAB
NKGN	- 0.92	WINT
NKGN	- 0.79	BCTXZ
NKGN	- 0.74	TIVC
WGS	- 0.69	NKGN

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
TIVC	5.28	(1.41)	0.00	(0.58)	0.00	0.00	10.43	(12.63)	46.76
VTAK	5.28	(0.78)	0.00	(0.15)	0.00	0.00	13.33	(10.81)	35.41
WINT	6.53	(2.40)	0.00	(0.71)	0.00	0.00	16.67	(20.00)	75.00
UPC	4.67	(0.23)	0.00	(0.11)	0.00	0.00	13.75	(9.34)	52.35
BCTXZ	9.28	(0.97)	0.00	0.90	0.00	0.00	18.52	(22.22)	69.68
MLEC	9.12	0.11	0.02	0.12	10.91	(11.40)	15.63	(17.38)	152.55
MSPR	13.75	(1.07)	0.00	(0.93)	0.00	0.00	46.34	(22.50)	139.00
ELAB	6.12	(3.89)	0.00	(0.93)	0.00	0.00	7.40	(20.40)	53.38
NKGN	4.98	2.05	0.00	11.32	0.00	0.00	20.00	(6.00)	68.90
WGS	2.81	(0.71)	0.00	(0.34)	0.00	0.00	5.29	(7.88)	21.84

Bluejay Diagnostics Corporate Management

Kenneth CPA	Chief Officer	Profile
Mr MD	Chief Advisor	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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