Bavarian Nordic Correlations

BVNRY Stock  USD 8.96  0.12  1.36%   
The correlation of Bavarian Nordic 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.

Bavarian Nordic Correlation With Market

Good diversification

The correlation between Bavarian Nordic AS and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bavarian Nordic AS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Bavarian Nordic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bavarian Nordic 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 Bavarian Nordic - 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 Bavarian Nordic AS to buy it.

Moving together with Bavarian Pink Sheet

  0.86NVO Novo Nordisk ASPairCorr
  0.82NONOF Novo Nordisk ASPairCorr
  0.86CSLLY CSLPairCorr
  0.8CMXHF CSL LimitedPairCorr
  0.93REGN Regeneron PharmaceuticalsPairCorr
  0.68QSAM Qsam BiosciencesPairCorr

Moving against Bavarian Pink Sheet

  0.95GLPPRB Global Partners LPPairCorr
  0.87HUT Hut 8 CorpPairCorr
  0.87ZWS Zurn Elkay WaterPairCorr
  0.86GIFI Gulf Island FabricationPairCorr
  0.86YPF YPF Sociedad AnonimaPairCorr
  0.84SUM Summit MaterialsPairCorr
  0.84RWAYL MSCI ACWI exAUCONSUMERPairCorr
  0.8CNOBP ConnectOne BancorpPairCorr
  0.8FBMS First Bancshares, Fiscal Year End 22nd of January 2025 PairCorr
  0.79SAPMF Saipem SpAPairCorr
  0.77EVGR Evergreen CorpPairCorr
  0.71DMRC DigimarcPairCorr
  0.7NBIX Neurocrine BiosciencesPairCorr
  0.69RCMT RCM TechnologiesPairCorr
  0.59TRT Trio Tech InternationalPairCorr
  0.51M Macys IncPairCorr
  0.44THCPU Thunder Bridge CapitalPairCorr
  0.37PSQH PSQ HoldingsPairCorr
  0.33NETDU Nabors Energy TransitionPairCorr
  0.92MAR Marriott InternationalPairCorr
  0.91DASH DoorDash, Class APairCorr
  0.89BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.88HAFC Hanmi Financial Fiscal Year End 28th of January 2025 PairCorr
  0.86RELY Remitly Global Tech BoostPairCorr
  0.83TGTX TG TherapeuticsPairCorr
  0.83BSIG Brightsphere InvestmentPairCorr
  0.82FRME First Merchants Fiscal Year End 23rd of January 2025 PairCorr
  0.8BSGM BioSig Technologies,PairCorr
  0.76ESGLW ESGL Holdings LimitedPairCorr
  0.75PETS PetMed ExpressPairCorr

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   
ATBPFBIOAF
OPTTCBPW
EWTXMOLN
ITOSOPT
ITOSTCBPW
OPTPSYBF
  
High negative correlations   
OPTHAVLF
ITOSHAVLF
TCBPWHAVLF
ITOSMOLN
HAVLFNMLSF
HAVLFPSYBF

Risk-Adjusted Indicators

There is a big difference between Bavarian Pink Sheet performing well and Bavarian Nordic 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 Bavarian Nordic'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
NMLSF  14.44  2.96  0.11 (11.36) 16.00 
 46.77 
 179.73 
PSYBF  623.82  311.91  0.00  3.31  0.00 
 0.00 
 20,998 
HAVLF  152.20  77.06  0.00  8.24  0.00 
 0.00 
 5,104 
TCBPW  20.18  2.82  0.12 (0.79) 19.25 
 42.98 
 130.17 
OPT  2.93 (0.16) 0.00 (0.20) 0.00 
 7.43 
 24.20 
MOLN  4.24  0.30  0.06  0.24  4.48 
 9.38 
 52.92 
EWTX  2.59  0.10  0.03  0.11  3.28 
 6.44 
 26.07 
ITOS  2.24 (0.63) 0.00 (0.37) 0.00 
 4.13 
 15.29 
BIOAF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
ATBPF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 

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