Cryoport Correlations

CYRX Stock

USD 6.05 0.28 4.42%

The current 90-days correlation between Cryoport and BioLife Solutions is -0.06 (i.e., Good diversification). The correlation of Cryoport 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.

Cryoport Correlation With Market

Good diversification

The correlation between Cryoport and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cryoport 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 Cryoport. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For more information on how to buy Cryoport Stock please use our How to Invest in Cryoport guide.

Moving together with Cryoport Stock

0.79	EMBC	Embecta Corp	Pair Corr
0.63	DHR	Danaher	Pair Corr
0.62	WST	West Pharmaceutical	Pair Corr
0.67	ADUS	Addus HomeCare	Pair Corr
0.67	HLVX	Hillevax	Pair Corr
0.75	NAMSW	NewAmsterdam Pharma	Pair Corr
0.62	ILMN	Illumina	Pair Corr

Moving against Cryoport Stock

0.53	BAX	Baxter International	Pair Corr
0.52	MMSI	Merit Medical Systems	Pair Corr
0.47	EDIT	Editas Medicine	Pair Corr
0.46	CI	Cigna Corp	Pair Corr
0.43	IDXX	IDEXX Laboratories	Pair Corr
0.37	CRVL	CorVel Corp	Pair Corr
0.33	ELV	Elevance Health	Pair Corr

Related Correlations Analysis

	BLFS	CDNA	AXNX	NTRA	IRTC
BLFS		0.24	0.0	0.34	0.41	BLFS
CDNA	0.24		0.0	0.66	0.01	CDNA
AXNX	0.0	0.0		0.0	0.0	AXNX
NTRA	0.34	0.66	0.0		0.31	NTRA
IRTC	0.41	0.01	0.0	0.31		IRTC
	BLFS	CDNA	AXNX	NTRA	IRTC

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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

NTRA	+ 0.66	CDNA
IRTC	+ 0.41	BLFS
NTRA	+ 0.34	BLFS
IRTC	+ 0.31	NTRA
CDNA	+ 0.24	BLFS
IRTC	+ 0.01	CDNA

High negative correlations

IRTC	- 0.0	AXNX
NTRA	- 0.0	AXNX
AXNX	- 0.0	CDNA
AXNX	- 0.0	BLFS

Risk-Adjusted Indicators

There is a big difference between Cryoport Stock performing well and Cryoport 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 Cryoport'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
BLFS	2.03	0.21	0.09	0.13	2.20	(2.29)	4.52	(3.69)	18.49
CDNA	2.80	0.01	0.00	(0.04)	4.18	(2.52)	5.63	(5.34)	19.59
AXNX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NTRA	1.85	0.04	0.02	(0.08)	2.33	(2.03)	4.36	(3.26)	13.39
IRTC	2.26	0.60	0.22	(1.96)	2.18	(2.39)	5.05	(3.94)	17.47

Cryoport Corporate Management

Thomas Heinzen	Vice Relations	Profile
Tony Ippolito	VP Counsel	Profile
Phil Wilson	LLC Systems	Profile
Edward Zecchini	Senior Officer	Profile

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