BriaCell Therapeutics Correlations

BCTXW Stock

USD 0.10 0.01 9.09%

The current 90-days correlation between BriaCell Therapeutics and Reviva Pharmaceuticals Holdings is -0.09 (i.e., Good diversification). The correlation of BriaCell Therapeutics 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.

BriaCell Therapeutics Correlation With Market

Significant diversification

The correlation between BriaCell Therapeutics Corp and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BriaCell Therapeutics Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with BriaCell Stock

0.71	CDIOW	Cardio Diagnostics	Pair Corr
0.65	ELVN	Enliven Therapeutics	Pair Corr
0.68	SCLX	Scilex Holding	Pair Corr
0.73	ASMB	Assembly Biosciences Downward Rally	Pair Corr
0.89	CDIO	Cardio Diagnostics	Pair Corr
0.88	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.7	MSFT	Microsoft	Pair Corr
0.61	MRK	Merck Company	Pair Corr

Moving against BriaCell Stock

0.87	GE	GE Aerospace	Pair Corr
0.85	WM	Waste Management	Pair Corr
0.81	PLX	Protalix Biotherapeutics	Pair Corr
0.78	LUCD	Lucid Diagnostics	Pair Corr
0.39	PG	Procter Gamble	Pair Corr
0.38	ABUS	Arbutus Biopharma Corp	Pair Corr
0.31	MLSS	Milestone Scientific Earnings Call Today	Pair Corr
0.88	MMM	3M Company	Pair Corr
0.79	JNJ	Johnson Johnson	Pair Corr
0.79	T	ATT Inc Aggressive Push	Pair Corr
0.77	IBM	International Business	Pair Corr
0.74	CVX	Chevron Corp	Pair Corr
0.71	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.6	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.52	INTC	Intel	Pair Corr
0.38	DD	Dupont De Nemours	Pair Corr
0.34	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Related Correlations Analysis

	BCTX	GOVXW	IMTXW	ATNFW	RVPHW
BCTX		0.51	0.9	-0.17	0.55	BCTX
GOVXW	0.51		0.4	0.36	0.57	GOVXW
IMTXW	0.9	0.4		-0.21	0.46	IMTXW
ATNFW	-0.17	0.36	-0.21		0.35	ATNFW
RVPHW	0.55	0.57	0.46	0.35		RVPHW
	BCTX	GOVXW	IMTXW	ATNFW	RVPHW

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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

IMTXW	+ 0.9	BCTX
RVPHW	+ 0.57	GOVXW
RVPHW	+ 0.55	BCTX
GOVXW	+ 0.51	BCTX
RVPHW	+ 0.46	IMTXW
IMTXW	+ 0.4	GOVXW

High negative correlations

ATNFW	- 0.21	IMTXW
ATNFW	- 0.17	BCTX

Risk-Adjusted Indicators

There is a big difference between BriaCell Stock performing well and BriaCell Therapeutics 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 BriaCell Therapeutics' 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
BCTX	5.32	(0.98)	0.00	(0.46)	0.00	0.00	10.46	(11.44)	38.97
GOVXW	12.89	0.72	0.04	0.35	13.32	(20.98)	41.67	(25.00)	96.13
IMTXW	17.50	(1.69)	0.00	(1.00)	0.00	0.00	42.11	(38.23)	131.73
ATNFW	8.01	1.02	0.10	(0.64)	8.67	(10.82)	13.00	(12.62)	133.33
RVPHW	12.00	(0.35)	0.00	0.87	0.00	0.00	25.00	(23.33)	96.02

BriaCell Therapeutics 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 BriaCell Therapeutics stock to make a market-neutral strategy. Peer analysis of BriaCell Therapeutics could also be used in its relative valuation, which is a method of valuing BriaCell Therapeutics by comparing valuation metrics with similar companies.

Briacell Therapeutics Corp GeoVax Labs immatics biotechnologies GmbH CannBioRx Life Sciences Reviva Pharmaceuticals Holdings American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

Risk & Return

Correlation

BriaCell Therapeutics Corporate Management

FACP MD	Founder Director	Profile
Miguel LopezLago	Chief Officer	Profile
Farrah Dean	Mang Devel	Profile
MD MPH	Chief Officer	Profile

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