BioLife Solutions Correlations

BLFS Stock

USD 26.81 0.46 1.69%

The current 90-days correlation between BioLife Solutions and Baxter International is 0.16 (i.e., Average diversification). The correlation of BioLife Solutions 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.

BioLife Solutions Correlation With Market

Weak diversification

The correlation between BioLife Solutions and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BioLife Solutions 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 BioLife Solutions. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

For more information on how to buy BioLife Stock please use our How to Invest in BioLife Solutions guide.

Moving together with BioLife Stock

0.63	EMBC	Embecta Corp Trending	Pair Corr
0.65	ENOV	Enovis Corp	Pair Corr

Moving against BioLife Stock

0.41	CCM	Concord Medical Services	Pair Corr
0.39	MDT	Medtronic PLC	Pair Corr
0.33	AHG	Akso Health Group	Pair Corr
0.33	BDX	Becton Dickinson	Pair Corr
0.33	TFX	Teleflex Incorporated	Pair Corr

Related Correlations Analysis

	BAX	WST	RMD	ICUI	ATR
BAX		-0.53	0.19	0.31	-0.82	BAX
WST	-0.53		0.26	-0.38	0.57	WST
RMD	0.19	0.26		-0.33	-0.03	RMD
ICUI	0.31	-0.38	-0.33		-0.01	ICUI
ATR	-0.82	0.57	-0.03	-0.01		ATR
	BAX	WST	RMD	ICUI	ATR

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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

ATR	+ 0.57	WST
ICUI	+ 0.31	BAX
RMD	+ 0.26	WST
RMD	+ 0.19	BAX

High negative correlations

ATR	- 0.82	BAX
WST	- 0.53	BAX
ICUI	- 0.38	WST
ICUI	- 0.33	RMD
ATR	- 0.03	RMD
ATR	- 0.01	ICUI

Risk-Adjusted Indicators

There is a big difference between BioLife Stock performing well and BioLife Solutions 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 BioLife Solutions' 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
BAX	1.19	(0.24)	0.00	(0.44)	0.00	0.00	3.30	(2.81)	7.67
WST	1.70	(0.04)	(0.02)	0.07	2.07	(1.88)	2.96	(3.02)	22.42
RMD	1.09	(0.01)	(0.05)	0.07	1.67	(1.06)	2.08	(2.59)	11.88
ICUI	1.34	(0.19)	0.00	(0.07)	0.00	0.00	2.77	(2.68)	10.44
ATR	0.71	0.11	0.07	0.28	0.88	(0.77)	1.47	(1.37)	7.86

BioLife Solutions Corporate Management

Sarah JD	Chief Officer	Profile
Troy Wichterman	Chief Officer	Profile
Geraint Phillips	Senior Operations	Profile
Troy CPA	Chief Officer	Profile

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