Burning Rock Correlations

BNR Stock

USD 6.16 0.85 16.01%

The current 90-days correlation between Burning Rock Biotech and Fonar is 0.12 (i.e., Average diversification). The correlation of Burning Rock 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.

Burning Rock Correlation With Market

Average diversification

The correlation between Burning Rock Biotech and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Burning Rock Biotech 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 Burning Rock Biotech. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving against Burning Stock

0.65	GANX	Gain Therapeutics	Pair Corr
0.52	BHC	Bausch Health Companies	Pair Corr
0.49	HCM	HUTCHMED DRC	Pair Corr
0.42	EWTX	Edgewise Therapeutics	Pair Corr
0.41	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.31	ZTS	Zoetis Inc	Pair Corr
0.74	APGE	Apogee Therapeutics,	Pair Corr
0.62	MDT	Medtronic PLC	Pair Corr
0.49	SMMT	Summit Therapeutics PLC	Pair Corr
0.44	ANEB	Anebulo Pharmaceuticals	Pair Corr
0.32	ABBV	AbbVie Inc Sell-off Trend	Pair Corr
0.32	AMGN	Amgen Inc	Pair Corr

Related Correlations Analysis

	FONR	SERA	OLK	LMDX	STIM	DRIO	GTH	SHC	NEOG	QGEN
FONR		0.22	-0.6	0.65	-0.31	-0.11	0.16	0.29	0.71	0.71	FONR
SERA	0.22		-0.46	0.2	0.26	0.43	0.17	0.75	0.34	0.46	SERA
OLK	-0.6	-0.46		-0.54	0.38	-0.26	0.03	-0.75	-0.49	-0.7	OLK
LMDX	0.65	0.2	-0.54		-0.31	-0.25	0.28	0.3	0.73	0.68	LMDX
STIM	-0.31	0.26	0.38	-0.31		0.13	0.15	-0.04	-0.21	-0.22	STIM
DRIO	-0.11	0.43	-0.26	-0.25	0.13		-0.5	0.52	-0.04	0.03	DRIO
GTH	0.16	0.17	0.03	0.28	0.15	-0.5		0.05	0.26	0.19	GTH
SHC	0.29	0.75	-0.75	0.3	-0.04	0.52	0.05		0.48	0.56	SHC
NEOG	0.71	0.34	-0.49	0.73	-0.21	-0.04	0.26	0.48		0.72	NEOG
QGEN	0.71	0.46	-0.7	0.68	-0.22	0.03	0.19	0.56	0.72		QGEN
	FONR	SERA	OLK	LMDX	STIM	DRIO	GTH	SHC	NEOG	QGEN

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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

SHC	+ 0.75	SERA
NEOG	+ 0.73	LMDX
QGEN	+ 0.72	NEOG
NEOG	+ 0.71	FONR
QGEN	+ 0.71	FONR
QGEN	+ 0.68	LMDX

High negative correlations

SHC	- 0.75	OLK
QGEN	- 0.7	OLK
OLK	- 0.6	FONR
LMDX	- 0.54	OLK
GTH	- 0.5	DRIO
NEOG	- 0.49	OLK

Risk-Adjusted Indicators

There is a big difference between Burning Stock performing well and Burning Rock 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 Burning Rock'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
FONR	1.50	(0.15)	0.00	(0.09)	0.00	0.00	2.15	(2.97)	10.84
SERA	3.74	(0.22)	0.00	0.04	4.58	(3.99)	9.55	(7.60)	27.67
OLK	0.63	0.19	0.05	(0.80)	0.48	(0.76)	1.58	(1.37)	4.37
LMDX	4.74	(0.84)	0.00	(4.06)	0.00	0.00	11.54	(10.71)	34.05
STIM	5.11	0.21	0.04	0.21	7.44	(6.56)	8.99	(9.24)	59.07
DRIO	4.10	(0.17)	(0.01)	0.04	4.60	(4.91)	9.72	(7.00)	27.55
GTH	1.87	0.00	(0.03)	0.13	2.49	(2.24)	3.45	(4.08)	14.43
SHC	1.75	(0.37)	0.00	(0.14)	0.00	0.00	3.74	(3.99)	13.40
NEOG	2.13	(0.45)	0.00	(0.13)	0.00	0.00	4.09	(6.67)	12.51
QGEN	0.99	(0.17)	0.00	(0.12)	0.00	0.00	2.06	(1.95)	5.80

Burning Rock Corporate Management

Jinxiang Li	Compliance CFO	Profile
Yusheng Han	Chairman Founder	Profile
Zhihong Zhang	Chief Officer	Profile
Shaokun Chuai	Chief Director	Profile
Hao Liu	Senior Advisor	Profile
Xiaozhi Hu	Senior Finance	Profile

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