EMERGENT BIOSOLUT Correlations

ER4 Stock

EUR 9.49 0.01 0.11%

The current 90-days correlation between EMERGENT BIOSOLUT and Dave Busters Entertainment is 0.28 (i.e., Modest diversification). The correlation of EMERGENT BIOSOLUT 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.

EMERGENT BIOSOLUT Correlation With Market

Very weak diversification

The correlation between EMERGENT BIOSOLUT and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EMERGENT BIOSOLUT and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to EMERGENT BIOSOLUT could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EMERGENT BIOSOLUT 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 EMERGENT BIOSOLUT - 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 EMERGENT BIOSOLUT to buy it.

Moving together with EMERGENT Stock

0.63	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.64	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.67	AMZ	Amazon Inc	Pair Corr
0.69	KBIA	KB Financial Group	Pair Corr
0.77	SID	State Bank	Pair Corr

Moving against EMERGENT Stock

0.66	TKDA	Takeda Pharmaceutical	Pair Corr
0.45	DBPD	Xtrackers ShortDAX	Pair Corr
0.4	OIXA	Orix Corp Ads	Pair Corr
0.37	OIX	ORIX	Pair Corr
0.32	LLD2	Lloyds Banking Group	Pair Corr

Related Correlations Analysis

	9DB	PL0	PWT	AF4	7E3	63TA	BOZA	YT2A
9DB		0.84	0.67	0.73	0.36	0.36	-0.36	-0.59	9DB
PL0	0.84		0.91	0.94	0.68	0.32	-0.41	-0.49	PL0
PWT	0.67	0.91		0.93	0.86	0.05	-0.36	-0.42	PWT
AF4	0.73	0.94	0.93		0.82	0.29	-0.38	-0.38	AF4
7E3	0.36	0.68	0.86	0.82		0.01	-0.36	-0.17	7E3
63TA	0.36	0.32	0.05	0.29	0.01		-0.24	0.1	63TA
BOZA	-0.36	-0.41	-0.36	-0.38	-0.36	-0.24		0.37	BOZA
YT2A	-0.59	-0.49	-0.42	-0.38	-0.17	0.1	0.37		YT2A
	9DB	PL0	PWT	AF4	7E3	63TA	BOZA	YT2A

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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

AF4	+ 0.94	PL0
AF4	+ 0.93	PWT
PWT	+ 0.91	PL0
7E3	+ 0.86	PWT
PL0	+ 0.84	9DB
7E3	+ 0.82	AF4

High negative correlations

YT2A	- 0.59	9DB
YT2A	- 0.49	PL0
YT2A	- 0.42	PWT
BOZA	- 0.41	PL0
YT2A	- 0.38	AF4
BOZA	- 0.38	AF4

Risk-Adjusted Indicators

There is a big difference between EMERGENT Stock performing well and EMERGENT BIOSOLUT 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 EMERGENT BIOSOLUT'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
9DB	2.90	0.13	0.09	0.19	2.94	(3.61)	7.69	(4.73)	18.54
PL0	1.56	0.25	0.17	0.31	1.26	(2.15)	3.65	(2.16)	15.83
PWT	1.30	(0.03)	0.03	0.11	1.24	(1.92)	3.01	(2.50)	12.15
AF4	1.17	0.26	0.15	0.64	0.84	(1.68)	2.92	(1.94)	7.20
7E3	2.34	0.27	0.10	0.33	2.62	(2.86)	6.99	(4.19)	13.90
63TA	2.27	0.33	0.04	(0.35)	2.31	(2.93)	5.56	(4.50)	21.17
BOZA	2.95	0.04	(0.02)	(0.09)	3.38	(4.90)	4.17	(4.00)	20.74
YT2A	0.71	(0.06)	0.00	(0.10)	0.00	0.00	1.33	(2.38)	4.66

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Our tools can tell you how much better you can do entering a position in EMERGENT BIOSOLUT without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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