Bluebird Bio Correlations
| BLUEDelisted Stock | USD 4.97 0.23 4.85% |
The correlation of Bluebird Bio 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.
Bluebird Bio Correlation With Market
Modest diversification
The correlation between Bluebird Bio and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bluebird Bio and DJI in the same portfolio, assuming nothing else is changed.
Bluebird |
Moving together with Bluebird Stock
Moving against Bluebird Stock
Related Correlations Analysis
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
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Risk-Adjusted Indicators
There is a big difference between Bluebird Stock performing well and Bluebird Bio 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 Bluebird Bio's 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SYRE | 3.33 | 1.04 | 0.39 | 0.50 | 2.22 | 10.99 | 29.33 | |||
| GRNA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| RENB | 4.36 | (1.18) | 0.00 | (0.76) | 0.00 | 10.39 | 39.14 | |||
| ALVR | 3.08 | (0.13) | 0.00 | 0.22 | 0.00 | 7.14 | 18.20 | |||
| RNTX | 4.44 | (0.04) | 0.01 | 0.05 | 4.98 | 11.97 | 39.87 | |||
| MGTA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ERYP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| KRON | 2.46 | 0.14 | (0.01) | (0.02) | 3.67 | 4.00 | 32.10 | |||
| TCRR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PSTI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Bluebird Bio Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Bluebird Bio stock to make a market-neutral strategy. Peer analysis of Bluebird Bio could also be used in its relative valuation, which is a method of valuing Bluebird Bio by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Bluebird Bio Corporate Management
| Mr MD | Chief Officer | Profile | |
| Melissa Bonner | VP Research | Profile | |
| Andrea Walton | Chief Officer | Profile | |
| JD Esq | Chief Secretary | Profile | |
| Christopher CPA | Principal CFO | Profile |
Still Interested in Bluebird Bio?
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