Bionano Genomics Correlations

BNGO Stock

USD 3.25 0.05 1.52%

The current 90-days correlation between Bionano Genomics and Innovative Eyewear is 0.25 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bionano Genomics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bionano Genomics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Bionano Genomics Correlation With Market

Good diversification

The correlation between Bionano Genomics and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bionano Genomics 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 Bionano Genomics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

To learn how to invest in Bionano Stock, please use our How to Invest in Bionano Genomics guide.

Moving together with Bionano Stock

0.95	EYEN	Eyenovia	Pair Corr
0.82	CLDX	Celldex Therapeutics	Pair Corr
0.8	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.64	CRVS	Corvus Pharmaceuticals	Pair Corr
0.69	MDAI	Spectral AI	Pair Corr
0.78	MODD	Modular Medical	Pair Corr
0.76	APYX	Apyx Medical	Pair Corr
0.84	SGHT	Sight Sciences	Pair Corr
0.84	SRDX	SurModics	Pair Corr
0.63	CNMD	CONMED	Pair Corr

Moving against Bionano Stock

0.92	FNA	Paragon 28	Pair Corr
0.79	CPIX	Cumberland Pharmaceuticals	Pair Corr
0.79	LUCD	Lucid Diagnostics	Pair Corr
0.7	INMD	InMode	Pair Corr
0.69	CMRX	Chimerix	Pair Corr
0.64	NYXH	Nyxoah	Pair Corr
0.48	LUNG	Pulmonx Corp	Pair Corr
0.42	MASI	Masimo	Pair Corr
0.93	BAOB	Baraboo Bancorporation	Pair Corr
0.93	NVRO	Nevro Corp	Pair Corr
0.88	AXSM	Axsome Therapeutics	Pair Corr
0.84	TOI	Oncology Institute Earnings Call This Week	Pair Corr
0.81	KGC	Kinross Gold Aggressive Push	Pair Corr
0.8	GORO	Gold Resource	Pair Corr
0.79	CBYDF	Corby Spirit	Pair Corr
0.75	TCTZF	Tencent Holdings	Pair Corr
0.74	CDR-PB	Cedar Realty Trust	Pair Corr
0.73	FWEDF	Fireweed Zinc	Pair Corr
0.72	INVX	Innovex International, Symbol Change	Pair Corr
0.69	DNCVF	Defiance Silver Corp	Pair Corr
0.66	KEY-PI	KeyCorp	Pair Corr
0.61	TMCI	Treace Medical Concepts	Pair Corr

Related Correlations Analysis

	ISRG	LUCY	STXS	NXGL	MBOT	STAA	NVST	GMVD	BDX	WST
ISRG		0.29	0.43	-0.05	0.38	-0.03	0.89	0.0	0.3	0.1	ISRG
LUCY	0.29		0.58	0.67	0.09	0.78	0.33	0.0	0.33	0.82	LUCY
STXS	0.43	0.58		0.56	0.25	0.54	0.61	0.0	0.2	0.58	STXS
NXGL	-0.05	0.67	0.56		-0.46	0.69	0.12	0.0	-0.1	0.58	NXGL
MBOT	0.38	0.09	0.25	-0.46		-0.09	0.36	0.0	0.41	0.1	MBOT
STAA	-0.03	0.78	0.54	0.69	-0.09		0.1	0.0	0.41	0.92	STAA
NVST	0.89	0.33	0.61	0.12	0.36	0.1		0.0	0.32	0.17	NVST
GMVD	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	GMVD
BDX	0.3	0.33	0.2	-0.1	0.41	0.41	0.32	0.0		0.5	BDX
WST	0.1	0.82	0.58	0.58	0.1	0.92	0.17	0.0	0.5		WST
	ISRG	LUCY	STXS	NXGL	MBOT	STAA	NVST	GMVD	BDX	WST

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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

WST	+ 0.92	STAA
NVST	+ 0.89	ISRG
WST	+ 0.82	LUCY
STAA	+ 0.78	LUCY
STAA	+ 0.69	NXGL
NXGL	+ 0.67	LUCY

High negative correlations

MBOT	- 0.46	NXGL
BDX	- 0.1	NXGL
STAA	- 0.09	MBOT
NXGL	- 0.05	ISRG
STAA	- 0.03	ISRG
WST	- 0.0	GMVD

Risk-Adjusted Indicators

There is a big difference between Bionano Stock performing well and Bionano Genomics 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 Bionano Genomics' 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
ISRG	1.52	(0.16)	0.00	0.51	0.00	0.00	2.18	(4.04)	14.53
LUCY	4.13	(0.63)	0.00	(0.66)	0.00	0.00	7.18	(9.27)	28.66
STXS	3.60	(0.03)	0.02	(0.02)	4.13	(4.12)	6.56	(7.22)	20.86
NXGL	3.57	(0.55)	0.00	(0.34)	0.00	0.00	5.64	(7.95)	23.35
MBOT	7.23	1.62	0.19	0.90	7.18	(10.62)	16.23	(9.41)	121.64
STAA	3.09	(0.41)	0.00	(1.94)	0.00	0.00	6.86	(5.18)	30.99
NVST	1.96	(0.27)	0.00	2.26	0.00	0.00	3.37	(4.20)	10.92
GMVD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BDX	0.87	0.06	0.07	0.11	1.50	(0.89)	1.72	(1.60)	9.44
WST	2.03	(0.43)	0.00	1.59	0.00	0.00	3.56	(2.83)	40.71

Bionano Genomics Corporate Management

Jonathan JD	General Secretary	Profile
Donna Polizio	Global Access	Profile
Klint Rose	Head Development	Profile
Helene Klein	Chief Officer	Profile
Sheila MBA	Vice Marketing	Profile
Christopher Stewart	Chief Officer	Profile
Jonathan Dixon	Global Legal	Profile

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