Bio Techne Correlations

TECH Stock

USD 59.65 0.84 1.43%

The current 90-days correlation between Bio Techne Corp and Moderna is 0.24 (i.e., Modest diversification). The correlation of Bio Techne 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.

Bio Techne Correlation With Market

Very weak diversification

The correlation between Bio Techne Corp and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bio Techne Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Bio Stock

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

Moving together with Bio Stock

0.67	A	Agilent Technologies	Pair Corr
0.77	QGEN	Qiagen NV	Pair Corr

Moving against Bio Stock

0.49	DB	Deutsche Bank AG	Pair Corr
0.32	MZHOF	Mizuho Financial Normal Trading	Pair Corr

Related Correlations Analysis

	MRNA	EXEL	BMRN	MDGL	RNA	CAI	JAZZ	RVMD	QGEN	CORT
MRNA		0.35	0.58	0.3	0.06	0.19	0.24	0.33	-0.06	0.11	MRNA
EXEL	0.35		0.64	0.88	0.63	-0.61	0.72	0.77	-0.38	0.05	EXEL
BMRN	0.58	0.64		0.52	0.18	-0.12	0.42	0.4	-0.03	-0.13	BMRN
MDGL	0.3	0.88	0.52		0.73	-0.74	0.9	0.93	-0.36	0.03	MDGL
RNA	0.06	0.63	0.18	0.73		-0.7	0.65	0.86	-0.5	-0.16	RNA
CAI	0.19	-0.61	-0.12	-0.74	-0.7		-0.66	-0.67	0.47	0.08	CAI
JAZZ	0.24	0.72	0.42	0.9	0.65	-0.66		0.87	-0.13	0.01	JAZZ
RVMD	0.33	0.77	0.4	0.93	0.86	-0.67	0.87		-0.32	-0.05	RVMD
QGEN	-0.06	-0.38	-0.03	-0.36	-0.5	0.47	-0.13	-0.32		0.1	QGEN
CORT	0.11	0.05	-0.13	0.03	-0.16	0.08	0.01	-0.05	0.1		CORT
	MRNA	EXEL	BMRN	MDGL	RNA	CAI	JAZZ	RVMD	QGEN	CORT

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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

RVMD	+ 0.93	MDGL
JAZZ	+ 0.9	MDGL
MDGL	+ 0.88	EXEL
RVMD	+ 0.87	JAZZ
RVMD	+ 0.86	RNA
RVMD	+ 0.77	EXEL

High negative correlations

CAI	- 0.74	MDGL
CAI	- 0.7	RNA
RVMD	- 0.67	CAI
JAZZ	- 0.66	CAI
CAI	- 0.61	EXEL
QGEN	- 0.5	RNA

Risk-Adjusted Indicators

There is a big difference between Bio Stock performing well and Bio Techne 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 Bio Techne'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
MRNA	3.06	0.21	0.07	0.14	3.72	(3.32)	6.85	(7.01)	22.21
EXEL	1.71	0.06	0.02	0.12	2.52	(1.87)	4.27	(2.93)	14.78
BMRN	1.50	0.11	0.07	0.17	1.43	(1.76)	3.20	(2.95)	20.77
MDGL	2.01	0.37	0.22	0.47	1.33	(2.57)	7.29	(2.58)	12.14
RNA	1.96	0.80	0.59	0.69	0.23	(2.14)	4.86	(1.82)	42.94
CAI	2.36	(0.14)	0.00	(0.20)	0.00	0.00	4.40	(4.73)	22.72
JAZZ	1.55	0.48	0.25	(0.77)	1.17	(1.90)	3.66	(2.50)	24.53
RVMD	1.62	0.76	0.60	0.94	0.61	(2.17)	4.34	(2.20)	11.71
QGEN	0.98	(0.01)	(0.03)	0.03	1.19	(1.07)	2.56	(2.25)	7.00
CORT	3.37	(1.02)	0.00	(0.23)	0.00	0.00	4.66	(7.08)	58.23

Bio Techne Corporate Management

Lynne Hohlfeld	Senior Division	Profile
Steven Crouse	Senior Division	Profile
Gerry Andros	Vice Marketing	Profile
Bernie Andruss	Senior Division	Profile
Kim Kelderman	Pres Genomics	Profile
Dylan Malayter	Senior Division	Profile

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