Enzo Biochem Correlations
| ENZDelisted Stock | USD 0.54 0.01 1.89% |
The correlation of Enzo Biochem 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.
Enzo Biochem Correlation With Market
Poor diversification
The correlation between Enzo Biochem and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enzo Biochem and DJI in the same portfolio, assuming nothing else is changed.
Enzo |
Moving together with Enzo Stock
| 0.64 | GS | Goldman Sachs Group | PairCorr |
| 0.69 | NTZ | Natuzzi SpA | PairCorr |
| 0.65 | LAND | Gladstone Land | PairCorr |
| 0.67 | SLSR | Solaris Resources | PairCorr |
| 0.79 | TOGOF | TomaGold | PairCorr |
| 0.76 | CYD | China Yuchai Interna | PairCorr |
| 0.69 | EMMA | Emmaus Life Sciences | PairCorr |
| 0.65 | CGECF | Cogeco Inc | PairCorr |
| 0.64 | USPH | US Physicalrapy | PairCorr |
| 0.83 | TATT | Tat Techno | PairCorr |
| 0.64 | FRFFF | Fairfax Financial | PairCorr |
| 0.77 | YLLXF | Yellow Cake plc Downward Rally | PairCorr |
| 0.74 | CAMZF | Camino Minerals | PairCorr |
| 0.66 | GAYMF | Galway Metals | PairCorr |
| 0.64 | FRSB | First Resource Bank | PairCorr |
Moving against Enzo Stock
| 0.79 | APVO | Aptevo Therapeutics | PairCorr |
| 0.74 | VLCN | Volcon Inc Symbol Change | PairCorr |
| 0.72 | TRNR | Interactive Strength | PairCorr |
| 0.71 | NIVF | NewGenIvf Group | PairCorr |
| 0.63 | AFIIQ | Armstrong Flooring | PairCorr |
| 0.52 | BRK-A | Berkshire Hathaway | PairCorr |
| 0.51 | WELL | Welltower Earnings Call This Week | PairCorr |
| 0.32 | BAM | Brookfield Asset Man Normal Trading | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Enzo Stock performing well and Enzo Biochem 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 Enzo Biochem'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CEMI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PMD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AIH | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ME | 5.98 | (1.66) | 0.00 | 3.17 | 0.00 | 9.80 | 72.68 | |||
| TMDI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CSCI | 6.90 | 0.11 | 0.00 | 0.56 | 11.21 | 27.11 | 94.83 | |||
| ATON | 7.95 | (2.37) | 0.00 | 15.78 | 0.00 | 22.67 | 72.09 | |||
| KA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CFMS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NYMXF | 10.17 | 0.08 | 0.00 | 0.02 | 0.00 | 36.54 | 82.03 |
Enzo Biochem 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 Enzo Biochem stock to make a market-neutral strategy. Peer analysis of Enzo Biochem could also be used in its relative valuation, which is a method of valuing Enzo Biochem by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Enzo Biochem?
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