Standard Biotools Correlations

LAB Stock

USD 1.13 0.04 3.42%

The current 90-days correlation between Standard Biotools and 908 Devices is 0.16 (i.e., Average diversification). The correlation of Standard Biotools 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.

Standard Biotools Correlation With Market

Very good diversification

The correlation between Standard Biotools and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Standard Biotools and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Standard Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Standard Biotools. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with Standard Stock

0.62	A	Agilent Technologies Earnings Call Tomorrow	Pair Corr
0.62	GSS	Genetic Signatures	Pair Corr
0.64	BIO	Bio Rad Laboratories	Pair Corr
0.66	CDT	Conduit Pharmaceuticals	Pair Corr
0.67	CRL	Charles River Labora	Pair Corr
0.68	FTRE	Fortrea Holdings	Pair Corr
0.81	IQV	IQVIA Holdings	Pair Corr
0.64	TEM	Tempus AI Class Earnings Call Tomorrow	Pair Corr
0.75	TMO	Thermo Fisher Scientific	Pair Corr
0.75	WAT	Waters	Pair Corr
0.76	ICLR	ICON PLC	Pair Corr
0.64	ILMN	Illumina	Pair Corr
0.63	OSL	Oncosil Medical	Pair Corr
0.78	MEDP	Medpace Holdings	Pair Corr
0.71	MRVI	Maravai Lifesciences	Pair Corr
0.73	NAGE	Niagen Bioscience Symbol Change	Pair Corr
0.75	IXI	IXICO PLC	Pair Corr
0.66	NOTV	Inotiv Inc	Pair Corr
0.63	PACB	Pacific Biosciences	Pair Corr

Moving against Standard Stock

0.69	CTE	Cryosite	Pair Corr
0.59	MLAB	Mesa Laboratories	Pair Corr
0.73	GNFT	Genfit SA	Pair Corr
0.43	MEM	Memphasys	Pair Corr
0.31	SEER	Seer Inc	Pair Corr
0.31	ATLN	Atlantic International	Pair Corr

Related Correlations Analysis

	SNWV	MASS	SGHT	OM	NNOX	SENS	CVRX	VMD	INGN	IMRX
SNWV		-0.45	0.9	0.02	0.85	-0.81	0.79	-0.86	0.9	0.72	SNWV
MASS	-0.45		-0.56	0.09	-0.12	0.62	-0.1	0.43	-0.51	-0.24	MASS
SGHT	0.9	-0.56		-0.11	0.67	-0.81	0.66	-0.8	0.85	0.69	SGHT
OM	0.02	0.09	-0.11		0.24	0.11	-0.04	-0.27	-0.1	-0.31	OM
NNOX	0.85	-0.12	0.67	0.24		-0.62	0.79	-0.86	0.72	0.68	NNOX
SENS	-0.81	0.62	-0.81	0.11	-0.62		-0.56	0.74	-0.7	-0.73	SENS
CVRX	0.79	-0.1	0.66	-0.04	0.79	-0.56		-0.63	0.75	0.71	CVRX
VMD	-0.86	0.43	-0.8	-0.27	-0.86	0.74	-0.63		-0.77	-0.6	VMD
INGN	0.9	-0.51	0.85	-0.1	0.72	-0.7	0.75	-0.77		0.73	INGN
IMRX	0.72	-0.24	0.69	-0.31	0.68	-0.73	0.71	-0.6	0.73		IMRX
	SNWV	MASS	SGHT	OM	NNOX	SENS	CVRX	VMD	INGN	IMRX

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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

SGHT	+ 0.9	SNWV
INGN	+ 0.9	SNWV
NNOX	+ 0.85	SNWV
INGN	+ 0.85	SGHT
CVRX	+ 0.79	SNWV
CVRX	+ 0.79	NNOX

High negative correlations

VMD	- 0.86	NNOX
VMD	- 0.86	SNWV
SENS	- 0.81	SGHT
SENS	- 0.81	SNWV
VMD	- 0.8	SGHT
INGN	- 0.77	VMD

Risk-Adjusted Indicators

There is a big difference between Standard Stock performing well and Standard Biotools 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 Standard Biotools' 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
SNWV	1.85	(0.52)	0.00	(0.53)	0.00	0.00	3.79	(3.90)	12.41
MASS	2.87	0.27	0.08	0.78	2.76	(3.57)	6.91	(4.06)	23.77
SGHT	2.61	(0.60)	0.00	(0.29)	0.00	0.00	3.99	(6.23)	15.97
OM	4.39	(0.33)	0.00	(0.06)	0.00	0.00	9.51	(10.41)	38.45
NNOX	3.07	(1.00)	0.00	(0.46)	0.00	0.00	6.54	(6.25)	19.93
SENS	3.04	0.56	0.17	0.33	3.08	(3.21)	8.04	(7.00)	18.36
CVRX	4.06	(0.19)	0.00	(0.23)	0.00	0.00	8.87	(9.59)	24.44
VMD	1.46	0.38	0.20	0.97	1.26	(1.69)	3.57	(2.79)	9.36
INGN	1.99	(0.21)	0.00	(0.18)	0.00	0.00	4.50	(3.89)	19.47
IMRX	3.84	(0.30)	0.00	(0.98)	0.00	0.00	8.12	(5.64)	67.18

Standard Biotools Corporate Management

Jeffrey Black	Chief Officer	Profile
Shane Bowen	Chief Officer	Profile
Elizabeth Jensen	Chief Officer	Profile
Mark Spearman	Sr Communications	Profile
Mike Musgnug	Senior Officer	Profile
John Graziano	Vice Relations	Profile

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