BioLife Solutions Correlations

BLFS Stock

USD 24.90 0.51 2.01%

The current 90-days correlation between BioLife Solutions and Kestra Medical Technologies, is 0.21 (i.e., Modest 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

Very weak diversification

The correlation between BioLife Solutions and DJI is 0.43 (i.e., Very weak 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 census.

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

Moving together with BioLife Stock

0.62	OM	Outset Medical	Pair Corr
0.69	688677	Qingdao NovelBeam	Pair Corr
0.67	688289	Sansure Biotech	Pair Corr
0.73	ENOV	Enovis Corp	Pair Corr

Moving against BioLife Stock

0.45	EW	Edwards Lifesciences Corp	Pair Corr
0.44	SPEC	Inspecs Group plc	Pair Corr
0.44	688656	HOB Biotech Group	Pair Corr
0.45	ELMD	Electromed	Pair Corr
0.36	EDAP	EDAP TMS SA Upward Rally	Pair Corr
0.48	ESTA	Establishment Labs	Pair Corr
0.48	FIGS	Figs Inc	Pair Corr
0.41	601089	Beijing Winsunny Pha	Pair Corr
0.41	ALC	Alcon AG	Pair Corr
0.4	688198	Beijing Balance Medical	Pair Corr
0.37	BB1	Blinklab	Pair Corr

Related Correlations Analysis

	KMTS	NVCR	AZTA	STAA	PHR	PLSE	NEOG	HROW	ATRC	ESTA
KMTS		-0.12	0.23	-0.22	-0.28	-0.27	0.45	-0.1	0.17	0.5	KMTS
NVCR	-0.12		0.09	-0.08	0.17	0.7	0.01	0.3	0.38	-0.52	NVCR
AZTA	0.23	0.09		-0.46	-0.68	-0.54	0.44	0.44	0.74	0.64	AZTA
STAA	-0.22	-0.08	-0.46		0.64	0.32	-0.65	-0.41	-0.64	-0.49	STAA
PHR	-0.28	0.17	-0.68	0.64		0.69	-0.69	-0.53	-0.71	-0.81	PHR
PLSE	-0.27	0.7	-0.54	0.32	0.69		-0.31	-0.12	-0.26	-0.89	PLSE
NEOG	0.45	0.01	0.44	-0.65	-0.69	-0.31		0.31	0.59	0.61	NEOG
HROW	-0.1	0.3	0.44	-0.41	-0.53	-0.12	0.31		0.66	0.22	HROW
ATRC	0.17	0.38	0.74	-0.64	-0.71	-0.26	0.59	0.66		0.44	ATRC
ESTA	0.5	-0.52	0.64	-0.49	-0.81	-0.89	0.61	0.22	0.44		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

ATRC	+ 0.74	AZTA
PLSE	+ 0.7	NVCR
PLSE	+ 0.69	PHR
ATRC	+ 0.66	HROW
ESTA	+ 0.64	AZTA
PHR	+ 0.64	STAA

High negative correlations

ESTA	- 0.89	PLSE
ESTA	- 0.81	PHR
ATRC	- 0.71	PHR
NEOG	- 0.69	PHR
PHR	- 0.68	AZTA
NEOG	- 0.65	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	2.37	0.02	0.03	0.09	3.20	(2.37)	5.06	(6.34)	17.59
NVCR	2.47	(0.02)	0.01	0.06	2.94	(2.84)	5.31	(4.90)	17.03
AZTA	2.16	0.11	0.08	0.13	2.27	(2.58)	4.88	(4.80)	22.17
STAA	2.57	(0.17)	0.00	(0.87)	0.00	0.00	5.47	(5.97)	15.52
PHR	1.88	(0.60)	0.00	(0.20)	0.00	0.00	2.77	(4.85)	28.56
PLSE	2.17	(0.43)	0.00	(0.14)	0.00	0.00	3.91	(4.51)	13.37
NEOG	2.56	0.35	0.11	0.29	2.96	(2.93)	5.96	(5.91)	27.41
HROW	2.89	(0.09)	0.02	0.04	3.49	(3.13)	6.42	(5.16)	21.38
ATRC	1.96	0.12	0.05	0.19	2.28	(1.99)	4.34	(3.76)	15.15
ESTA	2.70	0.93	0.30	1.21	2.38	(3.35)	6.94	(5.80)	30.17

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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