Bion Environmental Correlations

BNET Stock

USD 0.29 0.01 3.57%

The current 90-days correlation between Bion Environmental and Exro Technologies is -0.09 (i.e., Good diversification). The correlation of Bion Environmental 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.

Bion Environmental Correlation With Market

Very weak diversification

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

The ability to find closely correlated positions to Bion Environmental could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bion Environmental 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 Bion Environmental - 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 Bion Environmental Technologies to buy it.

Moving together with Bion OTC Stock

0.78	GEL	Genesis Energy LP	Pair Corr
0.65	SOJE	Southern Company	Pair Corr
0.71	VHI	Valhi Inc	Pair Corr
0.84	PSX	Phillips 66	Pair Corr
0.83	OXY	Occidental Petroleum Aggressive Push	Pair Corr
0.83	ENBP	ENB Financial Corp	Pair Corr
0.64	CAPL	Crossamerica Partners Earnings Call Today	Pair Corr
0.62	WEJTY	Webjet Limited	Pair Corr
0.91	DFKCY	Daifuku Co	Pair Corr
0.61	DREUF	Dream Industrial Real	Pair Corr
0.63	BHB	Bar Harbor Bankshares	Pair Corr
0.7	BCO	Brinks Company Earnings Call Tomorrow	Pair Corr
0.84	PRTS	CarPartsCom	Pair Corr
0.76	MOG-A	Moog Inc	Pair Corr
0.73	AIQUF	LAir Liquide SA	Pair Corr
0.76	ALFVF	Alfa Laval AB	Pair Corr
0.84	TRP	TC Energy Corp	Pair Corr
0.8	TDY	Teledyne Technologies	Pair Corr
0.87	ITW	Illinois Tool Works	Pair Corr

Moving against Bion OTC Stock

0.63	TRNR	Interactive Strength	Pair Corr
0.55	NIVF	NewGenIvf Group	Pair Corr
0.52	APVO	Aptevo Therapeutics	Pair Corr

Related Correlations Analysis

	INTWF	DOCKF	ETCC	AWAW	EFTI	UCIX	CHSTY	QUTIF	APGI	EXROF
INTWF		0.2	-0.67	-0.58	0.0	-0.04	0.27	0.19	0.35	-0.51	INTWF
DOCKF	0.2		0.02	-0.04	0.0	0.17	0.4	0.24	-0.32	-0.32	DOCKF
ETCC	-0.67	0.02		0.61	0.0	0.24	-0.46	-0.5	-0.27	0.33	ETCC
AWAW	-0.58	-0.04	0.61		0.0	-0.01	-0.44	-0.44	-0.3	0.45	AWAW
EFTI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	EFTI
UCIX	-0.04	0.17	0.24	-0.01	0.0		0.05	0.21	0.26	-0.3	UCIX
CHSTY	0.27	0.4	-0.46	-0.44	0.0	0.05		0.61	-0.25	-0.44	CHSTY
QUTIF	0.19	0.24	-0.5	-0.44	0.0	0.21	0.61		0.08	-0.45	QUTIF
APGI	0.35	-0.32	-0.27	-0.3	0.0	0.26	-0.25	0.08		-0.32	APGI
EXROF	-0.51	-0.32	0.33	0.45	0.0	-0.3	-0.44	-0.45	-0.32		EXROF
	INTWF	DOCKF	ETCC	AWAW	EFTI	UCIX	CHSTY	QUTIF	APGI	EXROF

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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

AWAW	+ 0.61	ETCC
QUTIF	+ 0.61	CHSTY
EXROF	+ 0.45	AWAW
CHSTY	+ 0.4	DOCKF
APGI	+ 0.35	INTWF
EXROF	+ 0.33	ETCC

High negative correlations

ETCC	- 0.67	INTWF
AWAW	- 0.58	INTWF
EXROF	- 0.51	INTWF
QUTIF	- 0.5	ETCC
CHSTY	- 0.46	ETCC
EXROF	- 0.45	QUTIF

Risk-Adjusted Indicators

There is a big difference between Bion OTC Stock performing well and Bion Environmental OTC Stock 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 Bion Environmental'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
INTWF	8.38	1.82	0.12	(1.70)	8.14	(14.31)	25.00	(17.42)	61.11
DOCKF	23.19	8.39	0.00	(11.22)	0.00	0.00	52.94	(50.00)	381.88
ETCC	1.87	(0.66)	0.00	1.50	0.00	0.00	3.65	(5.22)	13.33
AWAW	14.48	1.84	0.04	(0.63)	17.02	(61.34)	50.00	(41.18)	270.00
EFTI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UCIX	16.46	4.74	0.09	(1.88)	16.33	(71.81)	70.00	(38.78)	247.42
CHSTY	1.01	0.43	0.00	0.60	0.00	0.00	0.00	0.00	33.81
QUTIF	1.34	(0.04)	0.00	0.06	0.00	0.00	0.00	0.00	44.44
APGI	3.97	0.57	0.03	(4.25)	5.27	(22.38)	16.67	(14.29)	50.00
EXROF	29.10	4.59	0.13	0.96	23.71	(69.10)	100.00	(50.00)	266.67

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bion Environmental 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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