BioLife Solutions Correlations

BLFS Stock

USD 20.10 0.57 2.76%

The current 90-days correlation between BioLife Solutions and Kestra Medical Technologies is -0.09 (i.e., Good diversification). The correlation of BioLife Solutions 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.

BioLife Solutions Correlation With Market

Excellent diversification

The correlation between BioLife Solutions and DJI is -0.53 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BioLife Solutions and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with BioLife Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in BioLife Solutions. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

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

Moving together with BioLife Stock

0.82	IL3	Integra LifeSciences	Pair Corr
0.62	EW	Edwards Lifesciences Corp	Pair Corr
0.8	SI	Shoulder Innovations Earnings Call This Week	Pair Corr
0.84	56S1	Sartorius Stedim Biotech	Pair Corr
0.76	56S0	RENAUUNSPARD 15 EO	Pair Corr
0.87	IPD	Impedimed	Pair Corr
0.63	VNRX	Volitionrx	Pair Corr
0.68	BA3	Brooks Automation	Pair Corr
0.8	VVOS	Vivos Therapeutics	Pair Corr
0.73	OTC	Ocumetics Technology Corp	Pair Corr
0.68	GXI	Gerresheimer AG Earnings Call This Week	Pair Corr
0.64	ELAB	Elevai Labs Common	Pair Corr
0.78	EMBC	Embecta Corp	Pair Corr
0.79	XEJ	Accuray Incorporated	Pair Corr
0.68	ENOV	Enovis Corp	Pair Corr

Moving against BioLife Stock

0.81	HYB	HOYA	Pair Corr
0.55	DXCM	DexCom Inc	Pair Corr
0.33	SPEC	Inspecs Group plc	Pair Corr
0.76	61R	GROUPE EUROMEDIS	Pair Corr
0.73	EDAP	EDAP TMS SA	Pair Corr
0.69	EKSO	Ekso Bionics Holdings	Pair Corr
0.6	VREX	Varex Imaging Corp	Pair Corr
0.45	ECOR	Electrocore LLC	Pair Corr
0.7	DRW8	Drgerwerk AG	Pair Corr
0.43	46K	IRadimed	Pair Corr
0.34	LXD1	INSPIRATION HEAGRLS-10	Pair Corr

Related Correlations Analysis

	KMTS	NVCR	AZTA	STAA	PHR	PLSE	NEOG	HROW	ATRC	ESTA
KMTS		-0.24	-0.26	0.08	-0.03	0.25	-0.16	0.13	0.02	0.52	KMTS
NVCR	-0.24		0.42	0.35	0.29	-0.47	-0.21	0.2	0.37	-0.06	NVCR
AZTA	-0.26	0.42		0.4	0.6	-0.69	-0.44	-0.24	0.72	-0.61	AZTA
STAA	0.08	0.35	0.4		0.87	-0.67	-0.93	-0.12	0.56	-0.07	STAA
PHR	-0.03	0.29	0.6	0.87		-0.71	-0.88	-0.27	0.6	-0.39	PHR
PLSE	0.25	-0.47	-0.69	-0.67	-0.71		0.65	0.31	-0.66	0.47	PLSE
NEOG	-0.16	-0.21	-0.44	-0.93	-0.88	0.65		0.14	-0.67	0.15	NEOG
HROW	0.13	0.2	-0.24	-0.12	-0.27	0.31	0.14		-0.02	0.52	HROW
ATRC	0.02	0.37	0.72	0.56	0.6	-0.66	-0.67	-0.02		-0.32	ATRC
ESTA	0.52	-0.06	-0.61	-0.07	-0.39	0.47	0.15	0.52	-0.32		ESTA
	KMTS	NVCR	AZTA	STAA	PHR	PLSE	NEOG	HROW	ATRC	ESTA

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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

PHR	+ 0.87	STAA
ATRC	+ 0.72	AZTA
NEOG	+ 0.65	PLSE
PHR	+ 0.6	AZTA
ATRC	+ 0.6	PHR
ATRC	+ 0.56	STAA

High negative correlations

NEOG	- 0.93	STAA
NEOG	- 0.88	PHR
PLSE	- 0.71	PHR
PLSE	- 0.69	AZTA
ATRC	- 0.67	NEOG
PLSE	- 0.67	STAA

Risk-Adjusted Indicators

There is a big difference between BioLife Stock performing well and BioLife Solutions 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 BioLife Solutions' 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
KMTS	2.54	(0.18)	0.00	0.26	0.00	0.00	4.70	(6.80)	20.54
NVCR	3.51	0.14	0.04	0.10	4.25	(4.09)	6.92	(8.27)	35.96
AZTA	2.15	(0.54)	0.00	(0.35)	0.00	0.00	3.44	(5.03)	29.88
STAA	2.45	(0.42)	0.00	(1.39)	0.00	0.00	5.26	(5.51)	15.08
PHR	2.21	(0.72)	0.00	(0.49)	0.00	0.00	2.77	(4.84)	24.45
PLSE	3.88	0.49	0.13	0.14	3.91	(4.50)	7.62	(5.94)	66.16
NEOG	2.07	0.95	0.56	1.14	0.77	(2.46)	5.56	(2.35)	34.17
HROW	2.93	(0.04)	0.00	0.02	5.80	(2.82)	6.42	(4.79)	38.78
ATRC	2.22	(0.23)	0.00	(0.15)	0.00	0.00	3.39	(3.34)	24.05
ESTA	2.30	0.06	0.02	0.09	2.98	(2.41)	4.55	(5.74)	13.50

BioLife Solutions Corporate Management

Sarah JD	Chief Officer	Profile
Troy Wichterman	Chief Officer	Profile
Geraint Phillips	Senior Operations	Profile
Troy CPA	Chief Officer	Profile

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