Standard Biotools Correlations

LAB Stock

USD 1.50 0.18 10.71%

The current 90-days correlation between Standard Biotools and Varex Imaging Corp is 0.25 (i.e., Modest 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

Weak diversification

The correlation between Standard Biotools and DJI is 0.3 (i.e., Weak 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

0.72	GKOS	Glaukos Corp	Pair Corr
0.68	ALRS	Alerus Financial Corp	Pair Corr
0.64	TORO	Toro	Pair Corr
0.73	AYASF	Aya Gold Silver	Pair Corr
0.64	THH	TryHard Holdings Trending	Pair Corr

Moving against Standard Stock

0.72	FNMFO	Federal National Mortgage	Pair Corr
0.39	OSL	Oncosil Medical	Pair Corr
0.44	LTNC	Labor Smart	Pair Corr
0.31	BZDLF	Kincora Copper	Pair Corr

Related Correlations Analysis

	VREX	CBLL	CGEM	AVNS	SY	ADCT	TMCI	KIDS	CTKB	BVS
VREX		-0.09	-0.33	0.43	0.36	-0.24	0.3	0.09	-0.42	0.14	VREX
CBLL	-0.09		0.82	0.23	-0.57	-0.26	-0.76	0.25	0.6	0.62	CBLL
CGEM	-0.33	0.82		0.11	-0.65	-0.01	-0.77	0.09	0.78	0.62	CGEM
AVNS	0.43	0.23	0.11		-0.08	-0.2	-0.01	0.56	0.03	0.33	AVNS
SY	0.36	-0.57	-0.65	-0.08		-0.17	0.37	0.06	-0.44	-0.18	SY
ADCT	-0.24	-0.26	-0.01	-0.2	-0.17		0.16	-0.34	0.02	-0.13	ADCT
TMCI	0.3	-0.76	-0.77	-0.01	0.37	0.16		0.03	-0.88	-0.69	TMCI
KIDS	0.09	0.25	0.09	0.56	0.06	-0.34	0.03		-0.08	0.06	KIDS
CTKB	-0.42	0.6	0.78	0.03	-0.44	0.02	-0.88	-0.08		0.67	CTKB
BVS	0.14	0.62	0.62	0.33	-0.18	-0.13	-0.69	0.06	0.67		BVS
	VREX	CBLL	CGEM	AVNS	SY	ADCT	TMCI	KIDS	CTKB	BVS

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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

CGEM	+ 0.82	CBLL
CTKB	+ 0.78	CGEM
BVS	+ 0.67	CTKB
BVS	+ 0.62	CBLL
BVS	+ 0.62	CGEM
CTKB	+ 0.6	CBLL

High negative correlations

CTKB	- 0.88	TMCI
TMCI	- 0.77	CGEM
TMCI	- 0.76	CBLL
BVS	- 0.69	TMCI
SY	- 0.65	CGEM
SY	- 0.57	CBLL

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
VREX	1.73	(0.05)	(0.01)	0.02	3.31	(1.54)	3.69	(4.08)	18.19
CBLL	2.94	0.78	0.25	0.49	2.73	(3.50)	7.04	(6.13)	16.78
CGEM	4.72	0.93	0.20	0.83	4.15	(5.77)	11.50	(9.23)	45.76
AVNS	1.67	(0.10)	0.00	(0.05)	0.00	0.00	4.06	(3.06)	9.72
SY	3.97	(0.35)	0.00	(0.25)	0.00	0.00	5.00	(8.60)	31.96
ADCT	3.76	0.16	0.04	0.19	4.74	(4.25)	8.71	(7.56)	24.27
TMCI	3.18	(1.48)	0.00	(0.93)	0.00	0.00	5.46	(5.71)	33.84
KIDS	1.92	(0.23)	0.00	(0.07)	0.00	0.00	4.68	(3.98)	13.88
CTKB	2.95	0.48	0.14	0.49	3.25	(3.24)	8.77	(4.99)	26.01
BVS	2.12	0.10	0.04	0.16	2.08	(2.76)	5.11	(3.31)	22.05

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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