Star Equity Correlations

STRR Stock

USD 2.15 0.01 0.47%

The current 90-days correlation between Star Equity Holdings and Biodesix is 0.05 (i.e., Significant diversification). The correlation of Star Equity 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Star Equity Correlation With Market

Significant diversification

The correlation between Star Equity Holdings and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Star Equity Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Star Equity Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Star Stock

0.9	JNJ	Johnson Johnson	Pair Corr
0.82	INZY	Inozyme Pharma	Pair Corr
0.68	KRYS	Krystal Biotech	Pair Corr
0.78	MREO	Mereo BioPharma Group	Pair Corr
0.89	NKTX	Nkarta Inc	Pair Corr
0.95	PDSB	PDS Biotechnology Corp	Pair Corr
0.62	PLRX	Pliant Therapeutics	Pair Corr
0.62	ABBV	AbbVie Inc Earnings Call Today	Pair Corr
0.96	ABOS	Acumen Pharmaceuticals	Pair Corr
0.85	ADAP	Adaptimmune Therapeutics	Pair Corr
0.95	AFMD	Affimed NV	Pair Corr
0.68	AGIO	Agios Pharm	Pair Corr
0.9	AMGN	Amgen Inc Earnings Call This Week	Pair Corr
0.86	AMLX	Amylyx Pharmaceuticals	Pair Corr
0.78	APTO	Aptose Biosciences	Pair Corr
0.69	STOK	Stoke Therapeutics	Pair Corr
0.85	BDTX	Black Diamond Therap	Pair Corr
0.73	TERN	Terns Pharmaceuticals Buyout Trend	Pair Corr
0.87	CRVS	Corvus Pharmaceuticals	Pair Corr
0.87	DAWN	Day One Biopharmaceu	Pair Corr
0.63	CVS	CVS Health Corp Earnings Call This Week	Pair Corr
0.88	ACET	Adicet Bio	Pair Corr
0.9	SHG	Shinhan Financial Earnings Call This Week	Pair Corr
0.76	WF	Woori Financial Group Earnings Call This Week	Pair Corr

Moving against Star Stock

0.74	MLAB	Mesa Laboratories Earnings Call This Week	Pair Corr
0.49	BMY	Bristol Myers Squibb Earnings Call This Week	Pair Corr
0.43	GILD	Gilead Sciences Earnings Call This Week	Pair Corr
0.36	XFOR	X4 Pharmaceuticals	Pair Corr
0.48	PTCT	PTC Therapeutics	Pair Corr
0.36	BPMC	Blueprint Medicines Corp Sell-off Trend	Pair Corr
0.9	FNMFO	Federal National Mortgage	Pair Corr
0.68	MNPR	Monopar Therapeutics	Pair Corr
0.59	AVAL	Grupo Aval	Pair Corr
0.57	TGNA	Tegna Inc	Pair Corr
0.51	ITCL	Banco Ita Chile	Pair Corr
0.45	CIB	Bancolombia SA ADR	Pair Corr

Related Correlations Analysis

	VNRX	LMDX	GTH	BDSX	FONR	BNR	SERA	OLK	STIM
VNRX		0.35	0.12	0.03	0.16	-0.29	-0.39	-0.33	-0.34	VNRX
LMDX	0.35		0.28	0.42	-0.08	-0.81	-0.21	-0.54	-0.41	LMDX
GTH	0.12	0.28		0.15	-0.41	-0.34	-0.05	0.03	0.17	GTH
BDSX	0.03	0.42	0.15		-0.19	-0.4	0.5	-0.49	-0.65	BDSX
FONR	0.16	-0.08	-0.41	-0.19		0.16	-0.34	0.04	0.03	FONR
BNR	-0.29	-0.81	-0.34	-0.4	0.16		0.13	0.78	0.53	BNR
SERA	-0.39	-0.21	-0.05	0.5	-0.34	0.13		-0.09	-0.23	SERA
OLK	-0.33	-0.54	0.03	-0.49	0.04	0.78	-0.09		0.85	OLK
STIM	-0.34	-0.41	0.17	-0.65	0.03	0.53	-0.23	0.85		STIM
	VNRX	LMDX	GTH	BDSX	FONR	BNR	SERA	OLK	STIM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

STIM	+ 0.85	OLK
OLK	+ 0.78	BNR
STIM	+ 0.53	BNR
SERA	+ 0.5	BDSX
BDSX	+ 0.42	LMDX
LMDX	+ 0.35	VNRX

High negative correlations

BNR	- 0.81	LMDX
STIM	- 0.65	BDSX
OLK	- 0.54	LMDX
OLK	- 0.49	BDSX
FONR	- 0.41	GTH
STIM	- 0.41	LMDX

Risk-Adjusted Indicators

There is a big difference between Star Stock performing well and Star Equity 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 Star Equity'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
VNRX	4.88	(0.02)	0.00	0.16	0.00	0.00	10.71	(9.84)	32.29
LMDX	4.74	(0.85)	0.00	(2.07)	0.00	0.00	11.54	(10.71)	34.05
GTH	1.87	0.02	(0.02)	(2.40)	2.49	(2.24)	3.45	(4.08)	14.43
BDSX	3.50	(0.53)	0.00	(19.57)	0.00	0.00	6.92	(8.87)	29.63
FONR	1.40	(0.01)	(0.02)	0.08	1.59	(1.61)	2.67	(2.81)	13.34
BNR	4.82	1.55	0.24	10.02	4.49	(6.08)	15.95	(6.70)	46.14
SERA	4.01	0.13	0.00	(0.10)	5.47	(4.22)	10.39	(8.66)	31.68
OLK	0.63	0.18	0.10	(0.98)	0.48	(0.76)	1.58	(1.37)	4.37
STIM	6.53	2.47	0.23	(2.82)	8.10	(7.80)	18.50	(9.45)	45.79

Star Equity Corporate Management

Jeffrey Eberwein	Executive Board	Profile
Bob Halbert	Director Resource	Profile
Martin Shirley	Pres Solutions	Profile
Matthew Molchan	I Health	Profile
CCP CEBS	Senior Resource	Profile
Hannah Bible	Chief Officer	Profile
Scott Jarchow	I EdgeBuilder	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC