Alpha Teknova Correlations

TKNO Stock

USD 7.19 0.14 1.91%

The current 90-days correlation between Alpha Teknova and Lifecore Biomedical is 0.26 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Alpha Teknova moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alpha Teknova moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Alpha Teknova Correlation With Market

Modest diversification

The correlation between Alpha Teknova and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alpha Teknova 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 Alpha Teknova. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

To learn how to invest in Alpha Stock, please use our How to Invest in Alpha Teknova guide.

Moving together with Alpha Stock

0.66	MLYS	Mineralys Therapeutics,	Pair Corr
0.75	KB	KB Financial Group	Pair Corr
0.74	HPQ	HP Inc	Pair Corr
0.79	BAC	Bank of America Aggressive Push	Pair Corr
0.81	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.63	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Alpha Stock

0.89	MTEM	Molecular Templates	Pair Corr
0.82	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.8	TPST	Tempest Therapeutics	Pair Corr
0.79	ME	23Andme Holding	Pair Corr
0.78	NKTX	Nkarta Inc	Pair Corr
0.75	AGL	agilon health Buyout Trend	Pair Corr
0.63	VALN	Valneva SE ADR	Pair Corr
0.62	IPSC	Century Therapeutics	Pair Corr
0.6	CYRX	Cryoport	Pair Corr
0.58	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.57	A	Agilent Technologies	Pair Corr
0.56	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.5	TCHH	Trustcash Holdings	Pair Corr
0.42	BACK	IMAC Holdings	Pair Corr
0.81	EC	Ecopetrol SA ADR	Pair Corr
0.78	KO	Coca Cola Aggressive Push	Pair Corr
0.74	HYMTF	Hyundai Motor	Pair Corr
0.71	TLK	Telkom Indonesia Tbk	Pair Corr
0.63	SHG	Shinhan Financial	Pair Corr
0.5	PG	Procter Gamble	Pair Corr
0.49	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.45	VFSWW	VinFast Auto	Pair Corr
0.39	WF	Woori Financial Group	Pair Corr

Related Correlations Analysis

	COLL	PAHC	ANIP	PROC	SSIC	SHPHF	EGRX	PROCW	RGC	GHSI
COLL		-0.52	0.29	0.88	-0.73	-0.25	0.51	0.25	-0.23	0.09	COLL
PAHC	-0.52		-0.2	-0.5	0.3	0.1	-0.63	-0.13	-0.3	0.4	PAHC
ANIP	0.29	-0.2		0.23	-0.07	-0.11	0.48	0.34	0.37	-0.14	ANIP
PROC	0.88	-0.5	0.23		-0.86	-0.25	0.44	0.31	-0.13	0.26	PROC
SSIC	-0.73	0.3	-0.07	-0.86		0.25	-0.29	-0.25	0.05	-0.49	SSIC
SHPHF	-0.25	0.1	-0.11	-0.25	0.25		-0.38	-0.18	-0.04	-0.08	SHPHF
EGRX	0.51	-0.63	0.48	0.44	-0.29	-0.38		0.21	0.28	-0.28	EGRX
PROCW	0.25	-0.13	0.34	0.31	-0.25	-0.18	0.21		0.2	0.13	PROCW
RGC	-0.23	-0.3	0.37	-0.13	0.05	-0.04	0.28	0.2		-0.3	RGC
GHSI	0.09	0.4	-0.14	0.26	-0.49	-0.08	-0.28	0.13	-0.3		GHSI
	COLL	PAHC	ANIP	PROC	SSIC	SHPHF	EGRX	PROCW	RGC	GHSI

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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

PROC	+ 0.88	COLL
EGRX	+ 0.51	COLL
EGRX	+ 0.48	ANIP
EGRX	+ 0.44	PROC
GHSI	+ 0.4	PAHC
RGC	+ 0.37	ANIP

High negative correlations

SSIC	- 0.86	PROC
SSIC	- 0.73	COLL
EGRX	- 0.63	PAHC
PAHC	- 0.52	COLL
PROC	- 0.5	PAHC
GHSI	- 0.49	SSIC

Risk-Adjusted Indicators

There is a big difference between Alpha Stock performing well and Alpha Teknova 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 Alpha Teknova'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
COLL	1.88	(0.40)	0.00	(0.23)	0.00	0.00	3.59	(4.47)	12.29
PAHC	1.96	0.16	0.13	0.21	1.62	(2.30)	5.36	(2.45)	15.47
ANIP	1.86	(0.23)	0.00	(0.06)	0.00	0.00	3.70	(3.75)	10.82
PROC	5.98	(0.74)	0.00	(0.16)	0.00	0.00	8.74	(13.11)	63.61
SSIC	1.09	0.12	0.02	0.60	1.04	(1.35)	2.89	(1.82)	7.09
SHPHF	1.38	0.57	0.00	0.68	0.00	0.00	0.00	0.00	0.00
EGRX	3.94	(1.12)	0.00	1.87	0.00	0.00	9.24	(8.24)	53.71
PROCW	12.44	(1.92)	0.00	(2.35)	0.00	0.00	26.79	(32.09)	78.66
RGC	6.20	(0.06)	0.00	0.19	0.00	0.00	22.58	(10.93)	43.32
GHSI	5.47	0.68	0.06	(6.47)	8.11	(7.10)	18.66	(7.94)	101.05

Alpha Teknova Corporate Management

Damon JD	Chief Counsel	Profile
Matthew Lowell	Chief Officer	Profile
Ken Gelhaus	Chief Officer	Profile
Damon Terrill	Chief Counsel	Profile
Jennifer Henry	Senior Marketing	Profile
Lisa McCann	Chief Officer	Profile

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