Ondine Biomedical Correlations

OBI Stock

8.25 0.12 1.48%

The current 90-days correlation between Ondine Biomedical and Bisichi Mining PLC is -0.05 (i.e., Good diversification). The correlation of Ondine Biomedical 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.

Ondine Biomedical Correlation With Market

Good diversification

The correlation between Ondine Biomedical and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ondine Biomedical and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Ondine Biomedical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ondine Biomedical when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Ondine Biomedical - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Ondine Biomedical to buy it.

Moving against Ondine Stock

0.86	0KDU	Overstock	Pair Corr
0.61	IIG	Intuitive Investments	Pair Corr
0.55	SYME	SupplyMe Capital PLC	Pair Corr
0.46	GVMH	Grand Vision Media	Pair Corr
0.45	0A60	FuelCell Energy	Pair Corr

Related Correlations Analysis

	GRX	0UYN	0K50	0L8B	BISI	0JZT	0JZZ	DEMG
GRX		0.7	-0.16	0.31	0.28	0.37	-0.43	-0.04	GRX
0UYN	0.7		-0.15	0.24	0.51	0.21	-0.47	-0.17	0UYN
0K50	-0.16	-0.15		0.05	-0.06	-0.43	-0.39	-0.71	0K50
0L8B	0.31	0.24	0.05		0.4	0.67	0.2	-0.27	0L8B
BISI	0.28	0.51	-0.06	0.4		0.32	0.01	-0.39	BISI
0JZT	0.37	0.21	-0.43	0.67	0.32		0.22	0.19	0JZT
0JZZ	-0.43	-0.47	-0.39	0.2	0.01	0.22		0.25	0JZZ
DEMG	-0.04	-0.17	-0.71	-0.27	-0.39	0.19	0.25		DEMG
	GRX	0UYN	0K50	0L8B	BISI	0JZT	0JZZ	DEMG

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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

0UYN	+ 0.7	GRX
0JZT	+ 0.67	0L8B
BISI	+ 0.51	0UYN
BISI	+ 0.4	0L8B
0JZT	+ 0.37	GRX
0JZT	+ 0.32	BISI

High negative correlations

DEMG	- 0.71	0K50
0JZZ	- 0.47	0UYN
0JZT	- 0.43	0K50
0JZZ	- 0.43	GRX
DEMG	- 0.39	BISI
0JZZ	- 0.39	0K50

Risk-Adjusted Indicators

There is a big difference between Ondine Stock performing well and Ondine Biomedical 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 Ondine Biomedical'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
GRX	2.05	(0.04)	(0.03)	(0.03)	2.89	(6.15)	5.06	(5.00)	44.49
0UYN	2.53	0.16	(0.01)	(0.17)	2.87	(2.98)	5.36	(4.65)	16.99
0K50	0.88	0.07	(0.02)	0.50	0.92	(1.56)	2.02	(1.95)	8.09
0L8B	1.79	(0.11)	0.00	(0.03)	0.00	0.00	2.93	(4.19)	12.79
BISI	1.76	0.40	0.05	1.70	1.72	(8.74)	2.38	(4.17)	40.12
0JZT	2.31	(0.23)	0.00	(0.22)	0.00	0.00	5.28	(5.37)	16.36
0JZZ	2.62	(0.07)	(0.04)	0.01	2.83	(3.35)	5.34	(5.17)	25.45
DEMG	1.63	(0.87)	0.00	(1.74)	0.00	0.00	0.00	(7.69)	13.64

Be your own money manager

Our tools can tell you how much better you can do entering a position in Ondine Biomedical without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Ondine Biomedical Corporate Management

Elected by the shareholders, the Ondine Biomedical's board of directors comprises two types of representatives: Ondine Biomedical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Ondine. The board's role is to monitor Ondine Biomedical's management team and ensure that shareholders' interests are well served. Ondine Biomedical's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Ondine Biomedical's outside directors are responsible for providing unbiased perspectives on the board's policies.

Mike Long	VP Operations	Profile
Nikita Parkhaev	Company Secretary	Profile
Elaine CPA	Corporate Controller	Profile
Joseph Errico	Chief Officer	Profile

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