Trinity Biotech Correlations

TRIB Stock

USD 0.88 0.03 3.18%

The current 90-days correlation between Trinity Biotech plc and Beyond Air is -0.02 (i.e., Good diversification). The correlation of Trinity Biotech 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.

Trinity Biotech Correlation With Market

Very good diversification

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

Build AI portfolio with Trinity Stock

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

Moving against Trinity Stock

0.62	IMDX	Insight Molecular Symbol Change	Pair Corr
0.56	ONDS	Ondas Holdings	Pair Corr
0.47	BIOA	BioAge Labs	Pair Corr
0.46	HYMC	Hycroft Mining Holding	Pair Corr
0.43	SAIC	Science Applications	Pair Corr
0.38	F	Ford Motor Earnings Call This Week	Pair Corr
0.35	695156AW9	PKG 305 01	Pair Corr
0.54	AA	Alcoa Corp	Pair Corr
0.49	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr
0.47	MRK	Merck Company Earnings Call This Week	Pair Corr
0.46	BA	Boeing	Pair Corr
0.4	DD	Dupont De Nemours Sell-off Trend	Pair Corr
0.36	INTC	Intel	Pair Corr
0.35	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	ADVB	BGLC	XAIR	MRKR	CHEK	GBS	SINT	EVGN	SNSE	TNON
ADVB		0.85	0.45	-0.78	-0.22	0.0	-0.38	0.8	-0.33	0.87	ADVB
BGLC	0.85		0.37	-0.85	-0.3	0.0	-0.26	0.74	-0.35	0.87	BGLC
XAIR	0.45	0.37		-0.27	-0.44	0.0	-0.35	0.56	0.28	0.37	XAIR
MRKR	-0.78	-0.85	-0.27		0.05	0.0	0.44	-0.6	0.51	-0.84	MRKR
CHEK	-0.22	-0.3	-0.44	0.05		0.0	0.15	-0.32	-0.22	-0.11	CHEK
GBS	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	GBS
SINT	-0.38	-0.26	-0.35	0.44	0.15	0.0		-0.34	0.12	-0.24	SINT
EVGN	0.8	0.74	0.56	-0.6	-0.32	0.0	-0.34		0.02	0.71	EVGN
SNSE	-0.33	-0.35	0.28	0.51	-0.22	0.0	0.12	0.02		-0.43	SNSE
TNON	0.87	0.87	0.37	-0.84	-0.11	0.0	-0.24	0.71	-0.43		TNON
	ADVB	BGLC	XAIR	MRKR	CHEK	GBS	SINT	EVGN	SNSE	TNON

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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

TNON	+ 0.87	ADVB
TNON	+ 0.87	BGLC
BGLC	+ 0.85	ADVB
EVGN	+ 0.8	ADVB
EVGN	+ 0.74	BGLC
TNON	+ 0.71	EVGN

High negative correlations

MRKR	- 0.85	BGLC
TNON	- 0.84	MRKR
MRKR	- 0.78	ADVB
EVGN	- 0.6	MRKR
CHEK	- 0.44	XAIR
TNON	- 0.43	SNSE

Risk-Adjusted Indicators

There is a big difference between Trinity Stock performing well and Trinity Biotech 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 Trinity Biotech'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
ADVB	4.08	(0.45)	0.00	(0.23)	0.00	0.00	10.00	(10.81)	39.70
BGLC	2.52	(0.97)	0.00	(0.95)	0.00	0.00	4.14	(7.25)	16.78
XAIR	7.25	0.56	0.04	(0.09)	6.29	(11.73)	14.46	(10.16)	163.02
MRKR	5.21	0.94	0.16	4.96	5.18	(5.87)	12.79	(8.63)	28.69
CHEK	9.87	2.40	0.41	0.35	6.07	(13.88)	17.16	(10.37)	198.26
GBS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SINT	4.07	(0.01)	0.00	0.06	5.15	(4.72)	9.09	(5.90)	32.00
EVGN	2.55	(0.24)	0.00	(0.31)	0.00	0.00	3.77	(5.22)	21.65
SNSE	5.28	0.12	0.01	4.36	5.90	(6.35)	17.33	(10.69)	36.61
TNON	2.42	(0.41)	0.00	(0.19)	0.00	0.00	5.98	(4.04)	16.03

Trinity Biotech Corporate Management

Simon Dunne	Chief Officer	Profile
Fernando Devia	Ex Sales	Profile
Eibhlin Kelly	Chief Officer	Profile
Susan OConnor	Interim Officer	Profile
Aris Kekedjian	CEO Chairman	Profile
Louise Tallon	Chief Officer	Profile

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