Biovaxys Technology Correlations
| BVAXF Stock | USD 0.04 0 2.84% |
The current 90-days correlation between Biovaxys Technology Corp and Biotron Limited is -0.03 (i.e., Good diversification). The correlation of Biovaxys Technology 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.
Biovaxys Technology Correlation With Market
Modest diversification
The correlation between Biovaxys Technology Corp and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Biovaxys Technology Corp and DJI in the same portfolio, assuming nothing else is changed.
Biovaxys |
The ability to find closely correlated positions to Biovaxys Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Biovaxys Technology when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Biovaxys Technology - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Biovaxys Technology Corp to buy it.
Moving together with Biovaxys OTC Stock
Moving against Biovaxys OTC Stock
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| 0.38 | TRV | The Travelers Companies | PairCorr |
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| 0.35 | INTC | Intel Sell-off Trend | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Biovaxys OTC Stock performing well and Biovaxys Technology OTC Stock 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 Biovaxys Technology'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BITRF | 10.38 | 3.41 | 0.00 | 0.58 | 0.00 | 2.04 | 400.54 | |||
| BIOAF | 12.54 | 5.59 | 0.00 | 0.33 | 0.00 | 0.00 | 300.00 | |||
| CVALF | 2.52 | (0.48) | 0.00 | 56.93 | 0.00 | 4.30 | 23.27 | |||
| CPMV | 7.24 | 1.11 | 0.05 | 0.35 | 9.17 | 36.11 | 91.67 | |||
| CRPOF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CMVLF | 1.89 | (0.98) | 0.00 | 0.96 | 0.00 | 0.00 | 40.94 | |||
| ADILW | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GLSH | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| DMTTF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TCON | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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