Cytek Biosciences Correlations

CTKB Stock

USD 4.40 0.03 0.69%

The current 90-days correlation between Cytek Biosciences and Varex Imaging Corp is 0.35 (i.e., Weak diversification). The correlation of Cytek Biosciences 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.

Cytek Biosciences Correlation With Market

Very good diversification

The correlation between Cytek Biosciences and DJI is -0.43 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cytek Biosciences and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cytek Stock

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

For information on how to trade Cytek Stock refer to our How to Trade Cytek Stock guide.

Moving together with Cytek Stock

0.66	EW	Edwards Lifesciences Corp	Pair Corr
0.62	56S1	Sartorius Stedim Biotech	Pair Corr
0.62	56S0	RENAUUNSPARD 15 EO	Pair Corr
0.72	IPD	Impedimed	Pair Corr
0.82	VNRX	Volitionrx	Pair Corr
0.78	BA3	Brooks Automation	Pair Corr
0.65	VVOS	Vivos Therapeutics	Pair Corr
0.63	OTC	Ocumetics Technology Corp	Pair Corr
0.64	OC5	Cochlear Limited	Pair Corr
0.82	EMBC	Embecta Corp	Pair Corr
0.65	XEJ	Accuray Incorporated	Pair Corr

Moving against Cytek Stock

0.68	HYB	HOYA	Pair Corr
0.51	SPEC	Inspecs Group plc	Pair Corr
0.32	DXCM	DexCom Inc	Pair Corr
0.75	61R	GROUPE EUROMEDIS	Pair Corr
0.51	EDAP	EDAP TMS SA	Pair Corr
0.46	EKSO	Ekso Bionics Holdings	Pair Corr
0.63	ESTA	Establishment Labs Earnings Call This Week	Pair Corr
0.42	DRW8	Drgerwerk AG	Pair Corr
0.34	LXD1	INSPIRATION HEAGRLS-10	Pair Corr

Related Correlations Analysis

	VREX	AVNS	LAB	CLPT	TMCI	SRDX	CBLL	KIDS	ORGO	ANGO
VREX		0.74	-0.14	0.17	-0.57	0.03	0.5	-0.25	-0.86	-0.82	VREX
AVNS	0.74		-0.62	-0.05	-0.81	0.6	0.02	-0.56	-0.75	-0.6	AVNS
LAB	-0.14	-0.62		0.16	0.69	-0.69	0.31	0.59	0.33	0.12	LAB
CLPT	0.17	-0.05	0.16		0.21	-0.04	0.26	0.35	-0.03	-0.21	CLPT
TMCI	-0.57	-0.81	0.69	0.21		-0.56	-0.02	0.8	0.51	0.35	TMCI
SRDX	0.03	0.6	-0.69	-0.04	-0.56		-0.38	-0.47	-0.2	0.03	SRDX
CBLL	0.5	0.02	0.31	0.26	-0.02	-0.38		0.23	-0.3	-0.2	CBLL
KIDS	-0.25	-0.56	0.59	0.35	0.8	-0.47	0.23		0.18	0.1	KIDS
ORGO	-0.86	-0.75	0.33	-0.03	0.51	-0.2	-0.3	0.18		0.8	ORGO
ANGO	-0.82	-0.6	0.12	-0.21	0.35	0.03	-0.2	0.1	0.8		ANGO
	VREX	AVNS	LAB	CLPT	TMCI	SRDX	CBLL	KIDS	ORGO	ANGO

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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

KIDS	+ 0.8	TMCI
ANGO	+ 0.8	ORGO
AVNS	+ 0.74	VREX
TMCI	+ 0.69	LAB
SRDX	+ 0.6	AVNS
KIDS	+ 0.59	LAB

High negative correlations

ORGO	- 0.86	VREX
ANGO	- 0.82	VREX
TMCI	- 0.81	AVNS
ORGO	- 0.75	AVNS
SRDX	- 0.69	LAB
LAB	- 0.62	AVNS

Risk-Adjusted Indicators

There is a big difference between Cytek Stock performing well and Cytek Biosciences 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 Cytek Biosciences' 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
VREX	1.36	0.27	0.19	0.31	1.26	(1.63)	3.69	(2.43)	9.48
AVNS	1.86	0.32	0.13	0.38	2.13	(2.16)	4.79	(2.38)	15.78
LAB	2.96	(0.26)	0.00	(0.03)	0.00	0.00	7.81	(6.12)	27.04
CLPT	3.16	0.06	0.02	0.17	3.58	(3.34)	7.08	(5.56)	21.07
TMCI	3.14	(0.51)	0.00	(0.12)	0.00	0.00	6.51	(5.43)	18.13
SRDX	1.90	0.51	0.20	(2.34)	1.26	(2.68)	2.09	(2.90)	49.69
CBLL	2.37	0.45	0.19	0.51	2.15	(2.87)	6.39	(4.02)	18.00
KIDS	1.95	(0.04)	0.00	0.08	2.24	(2.19)	5.64	(3.29)	16.89
ORGO	2.55	(0.23)	0.00	0.65	0.00	0.00	5.75	(4.96)	19.91
ANGO	2.19	(0.05)	0.00	(0.06)	0.00	0.00	4.60	(4.55)	18.26

Cytek Biosciences Corporate Management

Todd Garland	Chief Officer	Profile
Ming Yan	CTO Director	Profile
Melik Ulusu	Senior Chain	Profile
Mark Edinger	VP Affairs	Profile
Allen Poirson	Senior Development	Profile
Connie Wedel	Chief Officer	Profile

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