BeiGene Correlations

ONC Stock

320.37 13.50 4.04%

The current 90-days correlation between BeiGene and Humana Inc is 0.05 (i.e., Significant diversification). The correlation of BeiGene 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.

BeiGene Correlation With Market

Weak diversification

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

Build AI portfolio with BeiGene Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in BeiGene. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

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

Moving against BeiGene Stock

0.6	MCHP	Microchip Technology	Pair Corr
0.48	DIS	Walt Disney	Pair Corr
0.4	ACN	Accenture plc	Pair Corr
0.36	BAC	Bank of America Earnings Call This Week	Pair Corr
0.32	AXP	American Express	Pair Corr

Related Correlations Analysis

	HUM	INSM	GEHC	RMD	IQV	ALC	MTD	NTRA	PHG	A
HUM		-0.74	0.06	0.55	-0.28	-0.24	-0.38	-0.5	0.17	-0.31	HUM
INSM	-0.74		0.15	-0.55	0.41	0.3	0.54	0.62	-0.23	0.5	INSM
GEHC	0.06	0.15		-0.41	0.77	0.84	0.44	0.79	-0.3	-0.11	GEHC
RMD	0.55	-0.55	-0.41		-0.63	-0.44	-0.62	-0.73	0.31	-0.08	RMD
IQV	-0.28	0.41	0.77	-0.63		0.8	0.8	0.88	0.02	0.35	IQV
ALC	-0.24	0.3	0.84	-0.44	0.8		0.52	0.82	-0.11	0.03	ALC
MTD	-0.38	0.54	0.44	-0.62	0.8	0.52		0.7	0.24	0.7	MTD
NTRA	-0.5	0.62	0.79	-0.73	0.88	0.82	0.7		-0.29	0.2	NTRA
PHG	0.17	-0.23	-0.3	0.31	0.02	-0.11	0.24	-0.29		0.53	PHG
A	-0.31	0.5	-0.11	-0.08	0.35	0.03	0.7	0.2	0.53		A
	HUM	INSM	GEHC	RMD	IQV	ALC	MTD	NTRA	PHG	A

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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

NTRA	+ 0.88	IQV
ALC	+ 0.84	GEHC
NTRA	+ 0.82	ALC
ALC	+ 0.8	IQV
MTD	+ 0.8	IQV
NTRA	+ 0.79	GEHC

High negative correlations

INSM	- 0.74	HUM
NTRA	- 0.73	RMD
IQV	- 0.63	RMD
MTD	- 0.62	RMD
RMD	- 0.55	INSM
NTRA	- 0.5	HUM

Risk-Adjusted Indicators

There is a big difference between BeiGene Stock performing well and BeiGene 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 BeiGene'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
HUM	1.86	(0.18)	0.00	(0.04)	0.00	0.00	3.83	(5.22)	12.22
INSM	1.85	0.14	0.02	0.69	3.23	(1.96)	2.84	(2.97)	32.41
GEHC	1.38	0.11	0.08	0.14	1.65	(1.36)	2.80	(2.77)	6.97
RMD	0.93	(0.22)	0.00	(0.24)	0.00	0.00	2.00	(2.26)	5.71
IQV	1.10	0.18	0.16	0.24	0.93	(1.32)	3.12	(2.03)	6.13
ALC	1.08	(0.01)	0.00	0.07	1.16	(1.23)	2.69	(1.89)	6.78
MTD	1.19	0.06	0.05	0.13	1.15	(1.45)	2.85	(2.37)	6.73
NTRA	1.56	0.48	0.26	0.79	1.41	(1.89)	3.75	(2.19)	8.04
PHG	1.13	0.02	0.00	0.10	1.76	(1.06)	2.43	(2.41)	8.74
A	1.14	(0.04)	(0.02)	0.04	1.34	(1.20)	2.34	(2.22)	6.50

BeiGene Corporate Management

Chan Lee	General VP	Profile
Liza Heapes	Head Relations	Profile
Marcello Damiani	Chief Officer	Profile
Eleanor Duff	Senior Communications	Profile

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