Cytek Biosciences Correlations

CTKB Stock

USD 6.50 0.09 1.40%

The current 90-days correlation between Cytek Biosciences and Orthopediatrics Corp is 0.33 (i.e., Weak diversification). The correlation of Cytek Biosciences 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.

Cytek Biosciences Correlation With Market

Poor diversification

The correlation between Cytek Biosciences and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cytek Biosciences 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 Cytek Biosciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

For information on how to trade Cytek Stock refer to our How to Trade Cytek Stock guide.

Moving together with Cytek Stock

0.78	LH	Laboratory	Pair Corr
0.69	VREX	Varex Imaging Corp	Pair Corr
0.79	CAH	Cardinal Health	Pair Corr
0.67	UNH	UnitedHealth Group Fiscal Year End 10th of January 2025	Pair Corr
0.72	LNSR	LENSAR Inc	Pair Corr
0.77	MMSI	Merit Medical Systems	Pair Corr
0.69	RDNT	RadNet Inc	Pair Corr
0.83	ATEC	Alphatec Holdings Buyout Trend	Pair Corr

Moving against Cytek Stock

0.73	TFX	Teleflex Incorporated	Pair Corr
0.61	GCTK	GlucoTrack	Pair Corr
0.57	ZJYL	JIN MEDICAL INTERNATIONAL	Pair Corr
0.49	FEMY	Femasys	Pair Corr
0.48	AHG	Akso Health Group	Pair Corr
0.45	XTNT	Xtant Medical Holdings	Pair Corr
0.43	CNC	Centene Corp Sell-off Trend	Pair Corr
0.38	ELV	Elevance Health Fiscal Year End 22nd of January 2025	Pair Corr
0.35	MASS	908 Devices	Pair Corr
0.62	ACET	Adicet Bio Buyout Trend	Pair Corr
0.44	VALN	Valneva SE ADR	Pair Corr
0.43	TNDM	Tandem Diabetes Care	Pair Corr
0.42	NEUE	NeueHealth Symbol Change	Pair Corr
0.37	MXCT	MaxCyte	Pair Corr

Related Correlations Analysis

	KIDS	ELMD	LUNG	RXST	AXGN	TMCI	OFIX	NPCE	INGN	SRDX
KIDS		-0.74	0.5	0.89	0.11	-0.27	-0.01	-0.09	0.71	0.47	KIDS
ELMD	-0.74		-0.52	-0.84	-0.07	0.64	0.52	0.49	-0.63	-0.27	ELMD
LUNG	0.5	-0.52		0.46	0.4	-0.14	-0.17	-0.09	0.45	0.41	LUNG
RXST	0.89	-0.84	0.46		0.22	-0.53	-0.27	-0.37	0.6	0.28	RXST
AXGN	0.11	-0.07	0.4	0.22		-0.37	-0.34	-0.4	-0.35	-0.24	AXGN
TMCI	-0.27	0.64	-0.14	-0.53	-0.37		0.87	0.81	0.1	0.29	TMCI
OFIX	-0.01	0.52	-0.17	-0.27	-0.34	0.87		0.74	0.24	0.26	OFIX
NPCE	-0.09	0.49	-0.09	-0.37	-0.4	0.81	0.74		0.22	0.5	NPCE
INGN	0.71	-0.63	0.45	0.6	-0.35	0.1	0.24	0.22		0.67	INGN
SRDX	0.47	-0.27	0.41	0.28	-0.24	0.29	0.26	0.5	0.67		SRDX
	KIDS	ELMD	LUNG	RXST	AXGN	TMCI	OFIX	NPCE	INGN	SRDX

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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

RXST	+ 0.89	KIDS
OFIX	+ 0.87	TMCI
NPCE	+ 0.81	TMCI
NPCE	+ 0.74	OFIX
INGN	+ 0.71	KIDS
SRDX	+ 0.67	INGN

High negative correlations

RXST	- 0.84	ELMD
ELMD	- 0.74	KIDS
INGN	- 0.63	ELMD
TMCI	- 0.53	RXST
LUNG	- 0.52	ELMD
NPCE	- 0.4	AXGN

Risk-Adjusted Indicators

There is a big difference between Cytek Stock performing well and Cytek Biosciences 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 Cytek Biosciences' 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
KIDS	2.45	(0.41)	0.00	(0.23)	0.00	0.00	4.85	(5.08)	16.62
ELMD	2.50	0.99	0.36	1.07	1.92	(3.06)	6.65	(3.90)	13.47
LUNG	3.16	(0.41)	0.00	(0.10)	0.00	0.00	8.44	(6.89)	20.44
RXST	1.73	(0.42)	0.00	(0.23)	0.00	0.00	2.19	(5.18)	12.89
AXGN	2.20	0.01	0.01	0.13	3.70	(2.18)	4.73	(5.50)	21.60
TMCI	3.14	0.00	0.15	0.12	2.62	(4.25)	6.08	(4.39)	38.73
OFIX	1.84	0.02	0.03	0.14	2.07	(2.03)	3.90	(3.85)	12.11
NPCE	3.46	0.18	0.10	0.20	3.15	(4.25)	9.73	(6.19)	35.38
INGN	1.95	(0.54)	0.00	(0.32)	0.00	0.00	3.57	(4.81)	22.50
SRDX	0.48	(0.05)	(0.21)	(0.02)	0.59	(0.51)	1.26	(1.01)	3.22

Cytek Biosciences Corporate Management

Todd Garland	Chief Officer	Profile
Ming Yan	CTO Director	Profile
Melik Ulusu	Senior Chain	Profile
Mark Edinger	VP Affairs	Profile
Allen Poirson	Senior Development	Profile
Connie Wedel	Chief Officer	Profile

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