Bone Biologics Correlations

BBLG Stock

USD 1.22 0.04 3.17%

The current 90-days correlation between Bone Biologics Corp and Bluejay Diagnostics is 0.04 (i.e., Significant diversification). The correlation of Bone Biologics 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.

Bone Biologics Correlation With Market

Significant diversification

The correlation between Bone Biologics Corp and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bone Biologics Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bone Biologics 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 bureau of economic analysis.

Moving together with Bone Stock

0.62

DRIO

DarioHealth Corp

Pair Corr

Moving against Bone Stock

0.55	LH	Laboratory	Pair Corr
0.53	GH	Guardant Health	Pair Corr
0.45	VREX	Varex Imaging Corp	Pair Corr
0.44	VEEV	Veeva Systems Class Earnings Call This Week	Pair Corr
0.39	MD	Mednax Inc	Pair Corr
0.39	DXCM	DexCom Inc Sell-off Trend	Pair Corr
0.64	OFIX	Orthofix Medical	Pair Corr
0.52	FNA	Paragon 28	Pair Corr
0.51	LNSR	LENSAR Inc	Pair Corr
0.46	SYK	Stryker	Pair Corr
0.46	NPCE	Neuropace	Pair Corr
0.45	ENOV	Enovis Corp	Pair Corr
0.38	ABT	Abbott Laboratories Sell-off Trend	Pair Corr
0.37	ZBH	Zimmer Biomet Holdings	Pair Corr
0.33	MMSI	Merit Medical Systems	Pair Corr
0.32	WGS	GeneDx Holdings Corp	Pair Corr
0.51	VANI	Vivani Medical	Pair Corr
0.47	CVRX	CVRx Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.44	CTKB	Cytek Biosciences	Pair Corr
0.39	DCTH	Delcath Systems	Pair Corr

Related Correlations Analysis

	BJDX	TLIS	NUWE	HSCS	TIVC	VVOS	RPID	INVO	TNON	MOTS
BJDX		0.75	-0.38	0.31	0.17	-0.12	-0.71	-0.05	0.62	0.81	BJDX
TLIS	0.75		-0.27	0.48	-0.03	-0.4	-0.82	-0.51	0.57	0.69	TLIS
NUWE	-0.38	-0.27		-0.19	0.29	-0.08	0.48	0.12	-0.14	-0.36	NUWE
HSCS	0.31	0.48	-0.19		-0.39	-0.42	-0.44	-0.49	0.29	0.44	HSCS
TIVC	0.17	-0.03	0.29	-0.39		0.18	0.25	0.35	-0.01	0.12	TIVC
VVOS	-0.12	-0.4	-0.08	-0.42	0.18		0.28	0.25	-0.03	-0.13	VVOS
RPID	-0.71	-0.82	0.48	-0.44	0.25	0.28		0.44	-0.52	-0.69	RPID
INVO	-0.05	-0.51	0.12	-0.49	0.35	0.25	0.44		-0.17	-0.12	INVO
TNON	0.62	0.57	-0.14	0.29	-0.01	-0.03	-0.52	-0.17		0.58	TNON
MOTS	0.81	0.69	-0.36	0.44	0.12	-0.13	-0.69	-0.12	0.58		MOTS
	BJDX	TLIS	NUWE	HSCS	TIVC	VVOS	RPID	INVO	TNON	MOTS

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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

MOTS	+ 0.81	BJDX
TLIS	+ 0.75	BJDX
MOTS	+ 0.69	TLIS
TNON	+ 0.62	BJDX
MOTS	+ 0.58	TNON
TNON	+ 0.57	TLIS

High negative correlations

RPID	- 0.82	TLIS
RPID	- 0.71	BJDX
MOTS	- 0.69	RPID
TNON	- 0.52	RPID
INVO	- 0.51	TLIS
INVO	- 0.49	HSCS

Risk-Adjusted Indicators

There is a big difference between Bone Stock performing well and Bone Biologics 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 Bone Biologics' 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
BJDX	6.37	(0.90)	0.00	(2.25)	0.00	0.00	13.03	(13.14)	120.52
TLIS	4.85	(1.85)	0.00	5.84	0.00	0.00	5.32	(10.69)	68.77
NUWE	10.35	1.62	0.10	(0.61)	10.80	(13.50)	25.66	(20.93)	141.14
HSCS	4.98	(0.15)	0.00	0.06	5.33	(6.23)	11.44	(8.97)	58.33
TIVC	4.66	(0.11)	0.00	(0.02)	0.00	0.00	12.12	(6.90)	79.31
VVOS	4.85	0.61	0.09	0.98	5.39	(5.51)	9.52	(6.90)	69.53
RPID	2.32	0.22	0.08	0.31	2.66	(2.79)	5.88	(4.55)	24.78
INVO	4.97	0.47	0.05	(0.73)	4.69	(8.22)	6.67	(6.85)	105.62
TNON	7.95	(0.11)	0.00	(0.10)	0.00	0.00	34.08	(16.00)	90.53
MOTS	3.80	(0.22)	0.00	(3.95)	0.00	0.00	9.09	(5.63)	56.89

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