Biomedix Incubator Correlations

BMDX Stock

ILS 18,820 380.00 1.98%

The current 90-days correlation between Biomedix Incubator and Nice is 0.46 (i.e., Very weak diversification). The correlation of Biomedix Incubator 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.

Biomedix Incubator Correlation With Market

Significant diversification

The correlation between Biomedix Incubator and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Biomedix Incubator and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Biomedix Incubator could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Biomedix Incubator when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Biomedix Incubator - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Biomedix Incubator to buy it.

Moving together with Biomedix Stock

0.83	GOLD	Gold Bond	Pair Corr
0.86	LUMI	Bank Leumi Le Earnings Call Tomorrow	Pair Corr
0.9	MZTF	Mizrahi Tefahot Earnings Call Today	Pair Corr
0.87	AZRG	Azrieli Group	Pair Corr
0.82	ESLT	Elbit Systems	Pair Corr
0.84	DSCT	Israel Discount Bank	Pair Corr
0.78	ORA	Ormat Technologies	Pair Corr
0.8	RATI	Ratio Oil Explorations Earnings Call Tomorrow	Pair Corr
0.82	FIBI	First International Bank	Pair Corr
0.86	DLEKG	Delek Group	Pair Corr
0.73	MTDS	Meitav Dash Investments	Pair Corr
0.69	EXPO	Export Inv	Pair Corr
0.71	JBNK	Jerusalem	Pair Corr
0.81	DISI	Discount Investment Corp	Pair Corr

Related Correlations Analysis

	NICE	GOLD	LUMI	ICL	MZTF	AZRG	ESLT	DSCT	ORA
NICE		0.26	0.28	0.42	0.34	0.31	0.24	0.31	0.48	NICE
GOLD	0.26		0.92	0.3	0.91	0.9	0.92	0.9	0.66	GOLD
LUMI	0.28	0.92		0.37	0.97	0.94	0.96	0.97	0.72	LUMI
ICL	0.42	0.3	0.37		0.4	0.37	0.24	0.47	0.13	ICL
MZTF	0.34	0.91	0.97	0.4		0.97	0.94	0.98	0.78	MZTF
AZRG	0.31	0.9	0.94	0.37	0.97		0.92	0.96	0.77	AZRG
ESLT	0.24	0.92	0.96	0.24	0.94	0.92		0.93	0.74	ESLT
DSCT	0.31	0.9	0.97	0.47	0.98	0.96	0.93		0.73	DSCT
ORA	0.48	0.66	0.72	0.13	0.78	0.77	0.74	0.73		ORA
	NICE	GOLD	LUMI	ICL	MZTF	AZRG	ESLT	DSCT	ORA

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Risk-Adjusted Indicators

There is a big difference between Biomedix Stock performing well and Biomedix Incubator 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 Biomedix Incubator'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
NICE	1.97	(0.04)	(0.03)	(0.04)	3.59	(1.80)	4.35	(3.98)	21.85
GOLD	1.58	0.27	0.05	5.65	2.27	(1.64)	3.40	(4.14)	18.99
LUMI	1.19	0.35	0.14	3.83	1.22	(1.26)	2.58	(2.60)	6.40
ICL	1.91	0.01	(0.05)	(0.16)	2.22	(2.12)	5.55	(3.18)	11.77
MZTF	1.24	0.24	0.08	(64.93)	1.27	(1.45)	2.71	(2.12)	6.12
AZRG	1.65	0.20	0.06	0.62	1.71	(1.90)	3.77	(3.05)	9.70
ESLT	1.28	0.48	0.32	9.96	0.64	(1.57)	4.09	(1.78)	8.26
DSCT	1.23	0.26	0.10	13.04	1.17	(1.42)	2.60	(2.64)	7.16
ORA	1.10	0.08	(0.01)	0.76	1.52	(1.11)	2.38	(2.20)	6.88

Be your own money manager

Our tools can tell you how much better you can do entering a position in Biomedix Incubator without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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