Elevai Labs, Correlations

ELAB Stock

4.93 1.47 22.97%

The current 90-days correlation between Elevai Labs, Common and Titan Machinery is -0.12 (i.e., Good diversification). The correlation of Elevai Labs, 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.

Elevai Labs, Correlation With Market

Significant diversification

The correlation between Elevai Labs, Common and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elevai Labs, Common and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elevai Labs, Common. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Elevai Stock

0.83	HOLX	Hologic	Pair Corr
0.82	INFU	InfuSystems Holdings	Pair Corr
0.78	SSKN	STRATA Skin Sciences Earnings Call Tomorrow	Pair Corr
0.78	CDIOW	Cardio Diagnostics	Pair Corr
0.79	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.67	ELEV	Elevation Oncology	Pair Corr
0.7	ELVN	Enliven Therapeutics	Pair Corr
0.77	GPCR	Structure Therapeutics	Pair Corr
0.81	ZURA	Zura Bio Limited	Pair Corr
0.69	ZVSA	ZyVersa Therapeutics	Pair Corr
0.83	IMMX	Immix Biopharma	Pair Corr
0.79	IMRX	Immuneering Corp	Pair Corr
0.83	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.8	PMVP	Pmv Pharmaceuticals	Pair Corr
0.9	PYXS	Pyxis Oncology	Pair Corr
0.8	SCLX	Scilex Holding	Pair Corr
0.89	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.75	ATNF	180 Life Sciences	Pair Corr

Moving against Elevai Stock

0.86	OCX	OncoCyte Corp	Pair Corr
0.78	LUCD	Lucid Diagnostics	Pair Corr
0.75	GOSS	Gossamer Bio	Pair Corr
0.73	MNDR	Mobile health Network	Pair Corr
0.41	PLX	Protalix Biotherapeutics	Pair Corr
0.38	PAVM	PAVmed Inc Earnings Call Today	Pair Corr
0.34	TMDX	TransMedics Group	Pair Corr
0.32	HIMS	Hims Hers Health Buyout Trend	Pair Corr
0.76	NVCT	Nuvectis Pharma	Pair Corr

Related Correlations Analysis

	TITN	PENN	GMWKF	GPC	TTWO	MYTE	GLXZ	HCHDF
TITN		0.71	0.27	0.18	0.44	0.74	0.34	-0.57	TITN
PENN	0.71		-0.11	-0.07	0.12	0.59	0.04	-0.67	PENN
GMWKF	0.27	-0.11		0.32	0.44	0.27	0.4	-0.12	GMWKF
GPC	0.18	-0.07	0.32		0.77	0.59	0.79	0.11	GPC
TTWO	0.44	0.12	0.44	0.77		0.72	0.78	0.03	TTWO
MYTE	0.74	0.59	0.27	0.59	0.72		0.64	-0.49	MYTE
GLXZ	0.34	0.04	0.4	0.79	0.78	0.64		-0.12	GLXZ
HCHDF	-0.57	-0.67	-0.12	0.11	0.03	-0.49	-0.12		HCHDF
	TITN	PENN	GMWKF	GPC	TTWO	MYTE	GLXZ	HCHDF

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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

GLXZ	+ 0.79	GPC
GLXZ	+ 0.78	TTWO
TTWO	+ 0.77	GPC
MYTE	+ 0.74	TITN
MYTE	+ 0.72	TTWO
PENN	+ 0.71	TITN

High negative correlations

HCHDF	- 0.67	PENN
HCHDF	- 0.57	TITN
HCHDF	- 0.49	MYTE
HCHDF	- 0.12	GLXZ
HCHDF	- 0.12	GMWKF
GMWKF	- 0.11	PENN

Risk-Adjusted Indicators

There is a big difference between Elevai Stock performing well and Elevai Labs, 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 Elevai Labs,'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
TITN	2.77	0.40	0.10	0.15	3.30	(2.89)	6.28	(6.06)	19.31
PENN	2.52	(0.15)	0.00	(0.20)	0.00	0.00	5.26	(4.62)	15.28
GMWKF	1.06	0.07	0.04	0.31	1.62	(2.41)	2.73	(2.09)	17.87
GPC	1.11	0.02	0.00	(0.03)	0.00	0.00	1.98	(2.45)	6.97
TTWO	1.35	0.26	0.18	0.52	1.45	(1.43)	3.00	(2.79)	17.26
MYTE	3.24	0.30	0.09	0.26	3.08	(4.06)	6.87	(5.70)	30.56
GLXZ	0.62	0.02	0.10	0.31	0.68	(0.84)	1.79	(1.38)	3.89
HCHDF	2.63	0.45	0.12	0.65	3.29	(3.21)	8.09	(4.64)	20.97

Elevai Labs, Corporate Executives

Elected by the shareholders, the Elevai Labs,'s board of directors comprises two types of representatives: Elevai Labs, inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Elevai. The board's role is to monitor Elevai Labs,'s management team and ensure that shareholders' interests are well served. Elevai Labs,'s inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Elevai Labs,'s outside directors are responsible for providing unbiased perspectives on the board's policies.

	FACS FACS	Chief CoFounder	Profile
	Graydon CFA	Secretary CFO	Profile

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