Enzo Biochem Correlations

ENZ Stock

USD 0.60 0.03 4.76%

The current 90-days correlation between Enzo Biochem and Burning Rock Biotech is -0.05 (i.e., Good diversification). 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

Very weak diversification

The correlation between Enzo Biochem and DJI is 0.41 (i.e., Very weak 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.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Enzo Biochem. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Enzo Stock please use our How to Invest in Enzo Biochem guide.

Moving together with Enzo Stock

0.76	XAIR	Beyond Air	Pair Corr
0.63	CVS	CVS Health Corp Earnings Call This Week	Pair Corr
0.89	MRM	Medirom Healthcare	Pair Corr
0.75	NRC	National Research Corp	Pair Corr
0.62	TFX	Teleflex Incorporated	Pair Corr
0.81	VMD	Viemed Healthcare	Pair Corr
0.86	HCAT	Health Catalyst	Pair Corr
0.78	INMD	InMode	Pair Corr
0.68	JYNT	Joint Corp	Pair Corr
0.79	LIVN	LivaNova PLC	Pair Corr

Moving against Enzo Stock

0.88	AHG	Akso Health Group	Pair Corr
0.65	ELMD	Electromed	Pair Corr
0.61	PEN	Penumbra	Pair Corr
0.58	FNA	Paragon 28	Pair Corr
0.46	CAH	Cardinal Health	Pair Corr
0.37	FORA	Forian Inc	Pair Corr
0.35	FIGS	Figs Inc	Pair Corr
0.35	HQY	HealthEquity	Pair Corr
0.73	LNSR	LENSAR Inc	Pair Corr
0.65	XYLO	Xylo Technologies Symbol Change	Pair Corr
0.41	MASI	Masimo	Pair Corr
0.89	PDCO	Patterson Companies	Pair Corr
0.86	AEMD	Aethlon Medical	Pair Corr

Related Correlations Analysis

	FONR	BNR	SERA	OLK	LMDX	GTH	PMD	DRIO	CSTL	XGN
FONR		0.16	-0.34	0.04	-0.08	-0.41	0.22	-0.24	0.09	0.22	FONR
BNR	0.16		0.13	0.78	-0.81	-0.34	0.26	-0.45	-0.66	0.71	BNR
SERA	-0.34	0.13		-0.09	-0.21	-0.05	-0.23	0.19	0.17	0.35	SERA
OLK	0.04	0.78	-0.09		-0.54	0.03	0.49	-0.32	-0.68	0.35	OLK
LMDX	-0.08	-0.81	-0.21	-0.54		0.28	-0.18	0.52	0.55	-0.67	LMDX
GTH	-0.41	-0.34	-0.05	0.03	0.28		0.2	0.2	0.06	-0.48	GTH
PMD	0.22	0.26	-0.23	0.49	-0.18	0.2		-0.24	-0.29	0.08	PMD
DRIO	-0.24	-0.45	0.19	-0.32	0.52	0.2	-0.24		0.64	-0.54	DRIO
CSTL	0.09	-0.66	0.17	-0.68	0.55	0.06	-0.29	0.64		-0.47	CSTL
XGN	0.22	0.71	0.35	0.35	-0.67	-0.48	0.08	-0.54	-0.47		XGN
	FONR	BNR	SERA	OLK	LMDX	GTH	PMD	DRIO	CSTL	XGN

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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

OLK	+ 0.78	BNR
XGN	+ 0.71	BNR
CSTL	+ 0.64	DRIO
CSTL	+ 0.55	LMDX
DRIO	+ 0.52	LMDX
PMD	+ 0.49	OLK

High negative correlations

LMDX	- 0.81	BNR
CSTL	- 0.68	OLK
XGN	- 0.67	LMDX
CSTL	- 0.66	BNR
XGN	- 0.54	DRIO
LMDX	- 0.54	OLK

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
FONR	1.40	(0.01)	(0.02)	0.08	1.59	(1.61)	2.67	(2.81)	13.34
BNR	4.82	1.55	0.24	10.02	4.49	(6.08)	15.95	(6.70)	46.14
SERA	4.01	0.13	0.00	(0.10)	5.47	(4.22)	10.39	(8.66)	31.68
OLK	0.63	0.18	0.10	(0.98)	0.48	(0.76)	1.58	(1.37)	4.37
LMDX	4.74	(0.85)	0.00	(2.07)	0.00	0.00	11.54	(10.71)	34.05
GTH	1.87	0.02	(0.02)	(2.40)	2.49	(2.24)	3.45	(4.08)	14.43
PMD	1.52	0.41	0.05	(0.57)	3.35	(2.29)	1.74	(1.67)	57.47
DRIO	6.60	0.24	0.00	(0.07)	8.94	(8.49)	9.86	(12.66)	121.18
CSTL	2.52	(0.11)	0.00	0.71	0.00	0.00	4.85	(7.40)	23.12
XGN	5.43	0.86	0.12	2.06	5.58	(6.24)	17.67	(6.67)	45.67

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