Biovaxys Technology Correlations

BVAXF Stock  USD 0.04  0  9.48%   
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

Good diversification

The correlation between Biovaxys Technology Corp and DJI is -0.18 (i.e., Good 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.
  
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

  0.73CSLLY CSLPairCorr

Moving against Biovaxys OTC Stock

  0.48GE GE AerospacePairCorr
  0.46KO Coca ColaPairCorr
  0.46COST Costco Wholesale CorpPairCorr
  0.43KOREF KORE MiningPairCorr
  0.37IBM International Business Sell-off TrendPairCorr
  0.36NSFDF NXT Energy SolutionsPairCorr
  0.34VRTX Vertex PharmaceuticalsPairCorr
  0.34MCD McDonaldsPairCorr
  0.33ZTLLF ZonetailPairCorr
  0.43INTC IntelPairCorr
  0.41WMT Walmart Aggressive PushPairCorr
  0.41T ATT Inc Aggressive PushPairCorr
  0.4MMM 3M CompanyPairCorr
  0.4JNJ Johnson JohnsonPairCorr
  0.38CVX Chevron CorpPairCorr
  0.32DD Dupont De NemoursPairCorr
  0.31BAC Bank of America Aggressive PushPairCorr

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   
CMVLFCVALF
CPMVBITRF
CRPOFBITRF
ADILWBITRF
GLSHBITRF
DMTTFBITRF
  
High negative correlations   
CMVLFBITRF
CMVLFBIOAF
CVALFBITRF
CVALFBIOAF
BIOAFBITRF
CPMVBIOAF

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
BITRF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
BIOAF  12.35  5.66  0.00  1.09  0.00 
 0.00 
 150.00 
CVALF  2.69 (0.53) 0.00 (0.46) 0.00 
 3.83 
 23.27 
CPMV  6.47  0.83  0.04 (0.52) 9.35 
 19.51 
 91.67 
CRPOF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
CMVLF  1.86 (0.95) 0.00 (1.34) 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 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Biovaxys Technology without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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