Bluejay Diagnostics Correlations

BJDX Stock

USD 4.40 0.33 8.11%

The current 90-days correlation between Bluejay Diagnostics and Bone Biologics Corp is -0.17 (i.e., Good 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

Good diversification

The correlation between Bluejay Diagnostics and DJI is -0.1 (i.e., Good 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 against Bluejay Stock

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0.4	DH	Definitive Healthcare Buyout Trend	Pair Corr
0.37	DXCM	DexCom Inc	Pair Corr
0.37	ECOR	Electrocore LLC	Pair Corr
0.32	EKSO	Ekso Bionics Holdings	Pair Corr
0.4	DVA	DaVita HealthCare	Pair Corr
0.39	FONR	Fonar	Pair Corr
0.39	FORA	Forian Inc Earnings Call This Week	Pair Corr
0.38	BSX	Boston Scientific Corp	Pair Corr
0.37	XAIR	Beyond Air	Pair Corr

Related Correlations Analysis

	BBLG	TLIS	NUWE	HSCS	TIVC	NXL	INVO	MOTS	IRIX
BBLG		0.0	0.12	0.47	0.14	0.75	0.0	0.0	0.7	BBLG
TLIS	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	TLIS
NUWE	0.12	0.0		0.1	0.38	0.24	0.0	0.0	-0.21	NUWE
HSCS	0.47	0.0	0.1		0.59	0.72	0.0	0.0	0.6	HSCS
TIVC	0.14	0.0	0.38	0.59		0.36	0.0	0.0	0.13	TIVC
NXL	0.75	0.0	0.24	0.72	0.36		0.0	0.0	0.66	NXL
INVO	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	INVO
MOTS	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	MOTS
IRIX	0.7	0.0	-0.21	0.6	0.13	0.66	0.0	0.0		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

NXL	+ 0.75	BBLG
NXL	+ 0.72	HSCS
IRIX	+ 0.7	BBLG
IRIX	+ 0.66	NXL
IRIX	+ 0.6	HSCS
TIVC	+ 0.59	HSCS

High negative correlations

IRIX	- 0.21	NUWE
IRIX	- 0.0	MOTS
IRIX	- 0.0	INVO
MOTS	- 0.0	INVO
MOTS	- 0.0	NXL
INVO	- 0.0	NXL

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	3.63	(0.18)	0.00	(0.36)	0.00	0.00	10.13	(8.18)	23.26
TLIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NUWE	3.58	0.41	0.09	0.15	3.71	(4.32)	10.62	(6.85)	20.78
HSCS	3.04	(0.07)	0.00	(2.38)	0.00	0.00	7.14	(6.41)	19.85
TIVC	10.43	1.84	0.23	(3.89)	7.77	(14.94)	13.08	(14.48)	221.76
NXL	5.48	(0.07)	0.00	(0.12)	0.00	0.00	10.77	(13.03)	29.64
INVO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MOTS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IRIX	3.27	(0.59)	0.00	(0.41)	0.00	0.00	8.93	(7.30)	31.26

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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