BeiGene Correlations
| B1GN34 Stock | BRL 66.48 0.48 0.73% |
The current 90-days correlation between BeiGene and Cincinnati Financial is 0.01 (i.e., Significant diversification). The correlation of BeiGene 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.
BeiGene Correlation With Market
Good diversification
The correlation between BeiGene and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BeiGene and DJI in the same portfolio, assuming nothing else is changed.
BeiGene |
The ability to find closely correlated positions to BeiGene could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BeiGene 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 BeiGene - 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 BeiGene to buy it.
Moving together with BeiGene Stock
| 0.62 | VRTX34 | Vertex Pharmaceuticals | PairCorr |
| 0.78 | B1SA34 | Banco Santander Chile | PairCorr |
| 0.61 | HYPE3 | Hypera SA | PairCorr |
| 0.63 | CTKA4 | Karsten SA | PairCorr |
| 0.76 | CTKA3 | Karsten SA | PairCorr |
Moving against BeiGene Stock
| 0.77 | B1NT34 | BIONTECH SE DRN | PairCorr |
| 0.77 | TSMC34 | Taiwan Semiconductor | PairCorr |
| 0.69 | T1CH34 | Bio Techne | PairCorr |
| 0.69 | S1RP34 | Sarepta Therapeutics | PairCorr |
| 0.58 | M1RN34 | Moderna | PairCorr |
| 0.55 | TMCO34 | Toyota Motor | PairCorr |
| 0.5 | VFCO34 | VF Corporation | PairCorr |
| 0.44 | AAPL34 | Apple Inc | PairCorr |
| 0.39 | HOND34 | Honda Motor | PairCorr |
| 0.32 | A1SN34 | Ascendis Pharma AS | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between BeiGene Stock performing well and BeiGene 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 BeiGene'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CINF34 | 0.58 | (0.30) | 0.00 | (5.23) | 0.00 | 0.00 | 12.37 | |||
| M1UF34 | 1.33 | 0.09 | 0.09 | (0.58) | 1.72 | 3.12 | 12.23 | |||
| S1MF34 | 0.86 | 0.04 | 0.05 | 0.01 | 1.21 | 3.11 | 9.35 | |||
| B1RF34 | 0.02 | 0.00 | 0.00 | (0.33) | 0.00 | 0.00 | 0.36 | |||
| B1BT34 | 0.44 | (0.04) | 0.00 | (2.08) | 0.00 | 1.07 | 7.44 | |||
| COWC34 | 1.67 | (0.23) | 0.00 | 0.52 | 0.00 | 2.29 | 10.30 | |||
| TSMC34 | 2.00 | (0.25) | 0.00 | (1.70) | 0.00 | 4.97 | 20.67 |
BeiGene Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with BeiGene stock to make a market-neutral strategy. Peer analysis of BeiGene could also be used in its relative valuation, which is a method of valuing BeiGene by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
BeiGene Corporate Management
Elected by the shareholders, the BeiGene's board of directors comprises two types of representatives: BeiGene inside directors who are chosen from within the company, and outside directors, selected externally and held independent of BeiGene. The board's role is to monitor BeiGene's management team and ensure that shareholders' interests are well served. BeiGene'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, BeiGene's outside directors are responsible for providing unbiased perspectives on the board's policies.
| John Oyler | Ex CoFounder | Profile | |
| Xiaodong Wang | Chairman CoFounder | Profile | |
| Mi Zhou | Director Relations | Profile | |
| Daniel Maller | VP Accounting | Profile | |
| Chan Lee | G Counsel | Profile | |
| Wang Lai | Global RD | Profile | |
| Kevin Mannix | VP Relations | Profile |