Enzo Biochem Correlations

ENZ Stock

USD 0.49 0.01 2.76%

The correlation of Enzo Biochem 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.

Enzo Biochem Correlation With Market

Good diversification

The correlation between Enzo Biochem and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enzo Biochem 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 Enzo Biochem. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

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

Moving together with Enzo Stock

0.73	ENSG	Ensign Group	Pair Corr
0.74	COO	Cooper Companies,	Pair Corr
0.89	HAE	Haemonetics	Pair Corr
0.91	NHC	National HealthCare	Pair Corr
0.61	SEM	Select Medical Holdings	Pair Corr
0.8	TFX	Teleflex Incorporated	Pair Corr
0.62	UHS	Universal Health Services	Pair Corr
0.67	UNH	UnitedHealth Group	Pair Corr
0.95	INNV	InnovAge Holding Corp	Pair Corr
0.88	PNTG	Pennant Group	Pair Corr

Moving against Enzo Stock

0.63	GH	Guardant Health Buyout Trend	Pair Corr
0.41	ALC	Alcon AG	Pair Corr
0.33	EHAB	Enhabit Earnings Call This Week	Pair Corr
0.79	OPCH	Option Care Health	Pair Corr
0.74	ANGO	AngioDynamics	Pair Corr
0.58	VERV	Verve Therapeutics	Pair Corr
0.57	ALHC	Alignment Healthcare LLC	Pair Corr
0.55	AMED	Amedisys	Pair Corr
0.48	ATRC	AtriCure	Pair Corr
0.39	IDXX	IDEXX Laboratories	Pair Corr
0.39	SGRY	Surgery Partners	Pair Corr
0.38	ACHC	Acadia Healthcare	Pair Corr
0.36	AKYA	Akoya Biosciences Earnings Call This Week	Pair Corr
0.31	A	Agilent Technologies	Pair Corr

Related Correlations Analysis

	FONR	BNR	SERA	OLK	LMDX	GTH	PMD	DRIO	CSTL	XGN
FONR		-0.26	-0.17	0.0	0.0	0.0	0.0	-0.18	0.39	0.24	FONR
BNR	-0.26		0.13	0.0	0.0	0.0	0.0	0.05	-0.12	0.08	BNR
SERA	-0.17	0.13		0.0	0.0	0.0	0.0	0.36	0.27	0.24	SERA
OLK	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	OLK
LMDX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	LMDX
GTH	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	GTH
PMD	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	PMD
DRIO	-0.18	0.05	0.36	0.0	0.0	0.0	0.0		0.29	-0.32	DRIO
CSTL	0.39	-0.12	0.27	0.0	0.0	0.0	0.0	0.29		0.15	CSTL
XGN	0.24	0.08	0.24	0.0	0.0	0.0	0.0	-0.32	0.15		XGN
	FONR	BNR	SERA	OLK	LMDX	GTH	PMD	DRIO	CSTL	XGN

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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

CSTL	+ 0.39	FONR
DRIO	+ 0.36	SERA
CSTL	+ 0.29	DRIO
CSTL	+ 0.27	SERA
XGN	+ 0.24	FONR
XGN	+ 0.24	SERA

High negative correlations

XGN	- 0.32	DRIO
BNR	- 0.26	FONR
DRIO	- 0.18	FONR
SERA	- 0.17	FONR
CSTL	- 0.12	BNR
XGN	- 0.0	PMD

Risk-Adjusted Indicators

There is a big difference between Enzo Stock performing well and Enzo Biochem 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 Enzo Biochem'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
FONR	1.36	(0.02)	0.00	(0.02)	0.00	0.00	2.63	(2.62)	17.86
BNR	4.55	0.72	0.11	(2.61)	5.36	(5.48)	13.61	(9.66)	39.69
SERA	3.75	(0.43)	0.00	(0.47)	0.00	0.00	7.17	(8.66)	33.33
OLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LMDX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GTH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PMD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DRIO	6.60	0.47	0.04	(0.28)	8.96	(8.54)	11.29	(12.66)	121.18
CSTL	2.07	(0.12)	0.00	2.58	0.00	0.00	3.70	(4.14)	23.12
XGN	5.79	0.56	0.09	0.19	6.00	(7.13)	18.98	(9.81)	45.67

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