Novacyt Correlations

Stocks . France . 
Stock . Novacyt
ALNOV Stock  EUR 0.54  0.04  6.90%   
The current 90-days correlation between Novacyt and Eurobio Scientific SA is 0.17 (i.e., Average diversification). The correlation of Novacyt 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.

Novacyt Correlation With Market

Good diversification

The correlation between Novacyt and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Novacyt and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Novacyt could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Novacyt 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 Novacyt - 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 Novacyt to buy it.

Moving together with Novacyt Stock

  0.65AAA Alan Allman AssociatesPairCorr

Moving against Novacyt Stock

  0.62ENX Euronext NVPairCorr
  0.61ABCA ABC arbitrage SA Earnings Call This WeekPairCorr
  0.6ALGIR Signaux GirodPairCorr
  0.6ML Compagnie Generale desPairCorr
  0.59BALYO Balyo SAPairCorr
  0.59CRI Chargeurs SAPairCorr
  0.57BEN Bnteau SAPairCorr
  0.56ALMET MethanorPairCorr
  0.56CARM Carmila SAPairCorr
  0.56VLA Valneva SEPairCorr
  0.55HO Thales SAPairCorr
  0.54ATO Atos SEPairCorr
  0.53EXA Exail Technologies Earnings Call This WeekPairCorr
  0.52HDF Hydrogene De FrancePairCorr
  0.52IVA Inventiva SA Earnings Call This WeekPairCorr
  0.51ALESK Esker SA Earnings Call This WeekPairCorr
  0.49ALBPK Broadpeak SAPairCorr
  0.4CBDG Compagnie du CambodgePairCorr
  0.4ALMOU MoulinvestPairCorr
  0.36LEBL Foncire 7 investissementPairCorr
  0.35ENGI Engie SAPairCorr
  0.64ALSMA SMAIO SAPairCorr
  0.63CRLO Caisse RegionalePairCorr
  0.62EXPL EPC GroupePairCorr
  0.61ALTPC Societe MarseillaisePairCorr
  0.6CS AXA SAPairCorr
  0.55NRO NeuronesPairCorr
  0.54SAN Sanofi SAPairCorr
  0.51ALDBT DBT SAPairCorr
  0.5ALLOG Logic InstrumePairCorr
  0.5AIR Airbus Group SEPairCorr
  0.5NOKIA Nokia OyjPairCorr
  0.48ALPRO ProdwarePairCorr
  0.47EXENS EXOSENS PROMPairCorr

Related Correlations Analysis

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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   
ALBPS
+ 0.06
ALBIO
  
High negative correlations   
ALINS
- 0.29
ALBIO
ALERS
- 0.17
ALBPS
ALERS
- 0.12
ALBIO
ALINS
- 0.02
ALERS
ALINS
- 0.02
ALBPS

Risk-Adjusted Indicators

There is a big difference between Novacyt Stock performing well and Novacyt 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 Novacyt'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Novacyt without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Novacyt Corporate Management

Elected by the shareholders, the Novacyt's board of directors comprises two types of representatives: Novacyt inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Novacyt. The board's role is to monitor Novacyt's management team and ensure that shareholders' interests are well served. Novacyt's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Novacyt's outside directors are responsible for providing unbiased perspectives on the board's policies.
Steve GibsonMember of the Executive Team, Group Financial ControllerProfile
David FranksChief OfficerProfile
Grald UlrichChief DevelProfile
James McCarthyActing CFOProfile
Wendy KarbanMember of the Executive Team, Group Human Resource ManagerProfile
Bryan CloseChief OfficerProfile
Paul OladimejiGroup RDProfile
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