Tekla Life Correlations

HQL Stock

USD 13.48 0.05 0.37%

The current 90-days correlation between Tekla Life Sciences and Tekla World Healthcare is 0.77 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tekla Life moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tekla Life Sciences moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tekla Life Correlation With Market

Modest diversification

The correlation between Tekla Life Sciences and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tekla Life Sciences and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Tekla Life Sciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Tekla Stock

0.66	LU	Lufax Holding	Pair Corr
0.85	WD	Walker Dunlop Normal Trading	Pair Corr
0.75	XP	Xp Inc	Pair Corr

Moving against Tekla Stock

0.63	LX	Lexinfintech Holdings Buyout Trend	Pair Corr
0.61	V	Visa Class A Earnings Call This Week	Pair Corr
0.61	DIST	Distoken Acquisition	Pair Corr
0.6	LC	LendingClub Corp	Pair Corr
0.45	DX	Dynex Capital	Pair Corr
0.34	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.49	GCMGW	GCM Grosvenor	Pair Corr
0.48	RM	Regional Management Corp Normal Trading	Pair Corr
0.48	DMYY	dMY Squared Technology	Pair Corr
0.45	PX	P10 Inc	Pair Corr
0.4	QD	Qudian Inc	Pair Corr
0.54	DYCQ	DT Cloud Acquisition	Pair Corr
0.49	EMCG	Embrace Change Acqui	Pair Corr
0.47	ESHA	ESH Acquisition Corp	Pair Corr
0.46	VIRT	Virtu Financial Earnings Call This Week	Pair Corr
0.34	BRACU	Broad Capital Acquisition	Pair Corr

Related Correlations Analysis

	THW	THQ	RVT	BTO	HQH	DFP	UTF	ETG	MYD	EVT
THW		0.98	-0.3	-0.25	0.89	0.57	0.74	0.6	0.77	0.17	THW
THQ	0.98		-0.24	-0.26	0.87	0.63	0.68	0.59	0.71	0.15	THQ
RVT	-0.3	-0.24		0.86	-0.11	0.24	0.15	0.36	0.09	0.74	RVT
BTO	-0.25	-0.26	0.86		-0.03	0.07	0.35	0.44	0.28	0.88	BTO
HQH	0.89	0.87	-0.11	-0.03		0.54	0.72	0.73	0.85	0.33	HQH
DFP	0.57	0.63	0.24	0.07	0.54		0.46	0.67	0.62	0.33	DFP
UTF	0.74	0.68	0.15	0.35	0.72	0.46		0.72	0.86	0.67	UTF
ETG	0.6	0.59	0.36	0.44	0.73	0.67	0.72		0.83	0.71	ETG
MYD	0.77	0.71	0.09	0.28	0.85	0.62	0.86	0.83		0.62	MYD
EVT	0.17	0.15	0.74	0.88	0.33	0.33	0.67	0.71	0.62		EVT
	THW	THQ	RVT	BTO	HQH	DFP	UTF	ETG	MYD	EVT

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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

THQ	+ 0.98	THW
HQH	+ 0.89	THW
EVT	+ 0.88	BTO
HQH	+ 0.87	THQ
BTO	+ 0.86	RVT
MYD	+ 0.86	UTF

High negative correlations

RVT	- 0.3	THW
BTO	- 0.26	THQ
BTO	- 0.25	THW
RVT	- 0.24	THQ
HQH	- 0.11	RVT
HQH	- 0.03	BTO

Risk-Adjusted Indicators

There is a big difference between Tekla Stock performing well and Tekla Life 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 Tekla Life'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
THW	0.76	(0.12)	0.00	(0.45)	0.00	0.00	1.23	(1.88)	3.96
THQ	0.94	(0.13)	0.00	(0.32)	0.00	0.00	1.59	(2.17)	5.19
RVT	0.88	0.08	0.08	0.25	0.98	(1.02)	1.87	(1.54)	9.12
BTO	1.13	0.18	0.12	0.28	1.23	(1.23)	2.32	(1.91)	13.54
HQH	0.86	(0.07)	0.00	(0.36)	0.00	0.00	1.62	(1.66)	6.31
DFP	0.51	(0.04)	0.00	(0.17)	0.00	0.00	0.93	(1.02)	2.59
UTF	0.74	(0.03)	0.00	(0.10)	0.00	0.00	1.33	(1.71)	3.40
ETG	0.58	(0.04)	0.00	(0.15)	0.00	0.00	0.86	(1.38)	5.38
MYD	0.60	(0.09)	0.00	(0.30)	0.00	0.00	1.09	(1.39)	3.23
EVT	0.55	0.01	0.01	0.03	0.68	(0.60)	1.05	(1.01)	5.21

Tekla Life Corporate Management

Thomas Kent	Independent Trustee	Profile
William Reardon	Independent Trustee	Profile
Elizabeth Nabel	Independent Trustee	Profile
Laura Woodward	Chief Compliance Officer, Treasurer, Secretary	Profile
Peter Branner	Chief Officer	Profile

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