OpGen Correlations

Summary

OPGNDelisted Stock

USD 1.90 0.15 7.32%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as OpGen moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OpGen Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

OpGen Correlation With Market

Good diversification

The correlation between OpGen Inc and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OpGen Inc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to OpGen could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OpGen 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 OpGen - 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 OpGen Inc to buy it.

Moving against OpGen Pink Sheet

0.63	MYO	Myomo Inc	Pair Corr
0.62	ELMD	Electromed	Pair Corr
0.56	BSX	Boston Scientific Corp	Pair Corr
0.54	OM	Outset Medical	Pair Corr
0.53	NXL	Nexalin Technology	Pair Corr
0.49	VVOS	Vivos Therapeutics	Pair Corr
0.45	FNA	Paragon 28	Pair Corr
0.45	PEN	Penumbra	Pair Corr
0.43	VMSI	Vita Mobile Systems	Pair Corr
0.39	ECOR	Electrocore LLC	Pair Corr
0.39	XAIR	Beyond Air	Pair Corr
0.7	SYK	Stryker	Pair Corr
0.57	GMED	Globus Medical Sell-off Trend	Pair Corr
0.54	IRMD	Iradimed	Pair Corr
0.53	INMD	InMode	Pair Corr
0.52	LUCD	Lucid Diagnostics	Pair Corr
0.49	HDII	Hypertension Diagnostics	Pair Corr
0.46	INBS	Intelligent Bio Solutions	Pair Corr
0.36	GKOS	Glaukos Corp	Pair Corr
0.36	IART	Integra LifeSciences	Pair Corr

Related Correlations Analysis

	BBLG	NAOV	BJDX	VVOS	TIVC	HSCS	NURO	RSLS	IINN	SGHT
BBLG		-0.11	0.16	-0.02	-0.37	0.7	0.35	-0.23	0.35	0.39	BBLG
NAOV	-0.11		-0.01	0.65	0.06	-0.34	-0.37	0.19	-0.16	-0.13	NAOV
BJDX	0.16	-0.01		0.01	0.27	0.27	-0.32	0.79	-0.64	0.84	BJDX
VVOS	-0.02	0.65	0.01		0.27	-0.41	-0.3	0.24	-0.19	-0.1	VVOS
TIVC	-0.37	0.06	0.27	0.27		-0.38	-0.48	0.42	-0.35	-0.01	TIVC
HSCS	0.7	-0.34	0.27	-0.41	-0.38		0.26	-0.24	0.22	0.42	HSCS
NURO	0.35	-0.37	-0.32	-0.3	-0.48	0.26		-0.35	0.52	0.0	NURO
RSLS	-0.23	0.19	0.79	0.24	0.42	-0.24	-0.35		-0.81	0.66	RSLS
IINN	0.35	-0.16	-0.64	-0.19	-0.35	0.22	0.52	-0.81		-0.46	IINN
SGHT	0.39	-0.13	0.84	-0.1	-0.01	0.42	0.0	0.66	-0.46		SGHT
	BBLG	NAOV	BJDX	VVOS	TIVC	HSCS	NURO	RSLS	IINN	SGHT

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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	+ 0.84	BJDX
RSLS	+ 0.79	BJDX
HSCS	+ 0.7	BBLG
SGHT	+ 0.66	RSLS
VVOS	+ 0.65	NAOV
IINN	+ 0.52	NURO

High negative correlations

IINN	- 0.81	RSLS
IINN	- 0.64	BJDX
NURO	- 0.48	TIVC
SGHT	- 0.46	IINN
HSCS	- 0.41	VVOS
HSCS	- 0.38	TIVC

Risk-Adjusted Indicators

There is a big difference between OpGen Pink Sheet performing well and OpGen 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 OpGen'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
BBLG	9.12	0.77	0.09	0.62	8.80	(14.60)	18.13	(17.14)	163.17
NAOV	4.20	0.27	0.04	0.42	4.91	(5.34)	9.26	(7.46)	32.03
BJDX	6.50	(0.88)	0.00	(1.82)	0.00	0.00	13.03	(13.14)	120.52
VVOS	5.01	0.53	0.08	0.81	5.60	(5.77)	9.52	(7.14)	69.53
TIVC	4.76	(0.15)	0.00	(0.07)	0.00	0.00	12.12	(6.90)	79.31
HSCS	5.03	(0.45)	0.00	(0.08)	0.00	0.00	11.44	(8.97)	58.33
NURO	2.64	0.34	0.06	(1.80)	2.91	(3.05)	6.09	(4.75)	15.39
RSLS	4.88	(0.63)	0.00	(1.96)	0.00	0.00	7.93	(10.12)	42.57
IINN	2.25	0.32	0.09	1.32	2.18	(3.02)	5.74	(3.57)	15.46
SGHT	3.05	(1.12)	0.00	(0.22)	0.00	0.00	6.65	(7.84)	18.22

View OpGen Related Equities

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Risk & Return

Correlation

OpGen Corporate Management

Terrance Walker	Sr. VP of RandD	Profile
Michael Farmer	VP Marketing	Profile
Arne Materna	MD GmbH	Profile
Derek Joesting	VP Sales	Profile
Vadim Sapiro	Chief Officer	Profile

Still Interested in OpGen Inc?

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