Tekla Life Correlations

HQL Stock

USD 13.14 0.12 0.92%

The current 90-days correlation between Tekla Life Sciences and Tekla World Healthcare is 0.61 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tekla Life moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tekla Life Sciences moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tekla Life Correlation With Market

Very weak diversification

The correlation between Tekla Life Sciences and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tekla Life Sciences and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Tekla Life Sciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Tekla Stock

0.62	V	Visa Class A	Pair Corr
0.74	MA	Mastercard	Pair Corr
0.66	CNF	CNFinance Holdings	Pair Corr
0.84	COF	Capital One Financial	Pair Corr
0.81	DFS	Discover Financial	Pair Corr
0.71	OPFI	OppFi Inc	Pair Corr
0.71	SNFCA	Security National Earnings Call This Week	Pair Corr
0.82	ALLY	Ally Financial	Pair Corr
0.64	APAM	Artisan Partners Asset	Pair Corr
0.73	BBDC	Barings BDC	Pair Corr
0.66	COOP	Mr Cooper Group	Pair Corr
0.8	C	Citigroup	Pair Corr
0.67	AC	Associated Capital	Pair Corr
0.75	BK	Bank of New York	Pair Corr
0.67	BN	Brookfield Corp	Pair Corr

Moving against Tekla Stock

0.31	RENEW	Cartesian Growth	Pair Corr
0.48	EG	Everest Group	Pair Corr

Related Correlations Analysis

	THW	THQ	RVT	BTO	HQH	DFP	UTF	ETG	MYD	EVT
THW		0.99	-0.15	0.14	0.89	0.89	0.84	0.8	0.69	0.22	THW
THQ	0.99		-0.18	0.11	0.87	0.88	0.84	0.77	0.65	0.2	THQ
RVT	-0.15	-0.18		0.9	0.2	-0.15	-0.34	0.25	0.0	0.89	RVT
BTO	0.14	0.11	0.9		0.48	0.16	-0.09	0.52	0.32	0.95	BTO
HQH	0.89	0.87	0.2	0.48		0.83	0.63	0.89	0.74	0.52	HQH
DFP	0.89	0.88	-0.15	0.16	0.83		0.88	0.83	0.75	0.2	DFP
UTF	0.84	0.84	-0.34	-0.09	0.63	0.88		0.67	0.55	0.0	UTF
ETG	0.8	0.77	0.25	0.52	0.89	0.83	0.67		0.73	0.58	ETG
MYD	0.69	0.65	0.0	0.32	0.74	0.75	0.55	0.73		0.31	MYD
EVT	0.22	0.2	0.89	0.95	0.52	0.2	0.0	0.58	0.31		EVT
	THW	THQ	RVT	BTO	HQH	DFP	UTF	ETG	MYD	EVT

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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

THQ	+ 0.99	THW
EVT	+ 0.95	BTO
BTO	+ 0.9	RVT
HQH	+ 0.89	THW
DFP	+ 0.89	THW
EVT	+ 0.89	RVT

High negative correlations

UTF	- 0.34	RVT
RVT	- 0.18	THQ
DFP	- 0.15	RVT
RVT	- 0.15	THW
UTF	- 0.09	BTO
EVT	- 0.0	UTF

Risk-Adjusted Indicators

There is a big difference between Tekla Stock performing well and Tekla Life 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 Tekla Life'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
THW	0.64	0.11	0.17	0.19	0.72	(0.68)	1.40	(1.76)	3.96
THQ	0.86	0.17	0.20	0.18	0.86	(0.99)	1.92	(1.41)	4.40
RVT	0.88	(0.07)	0.00	(0.17)	0.00	0.00	1.43	(1.97)	5.97
BTO	1.05	(0.06)	0.00	(0.13)	0.00	0.00	2.30	(2.35)	6.87
HQH	0.86	0.06	0.08	0.04	1.06	(0.89)	1.62	(1.69)	3.79
DFP	0.43	0.03	0.18	0.08	0.43	(0.52)	0.84	(0.88)	2.52
UTF	0.67	0.08	0.14	0.12	0.77	(0.75)	1.61	(1.66)	3.59
ETG	0.76	0.04	0.05	(0.01)	1.10	(0.70)	1.41	(1.55)	4.29
MYD	0.47	(0.04)	0.00	(0.30)	0.00	0.00	0.97	(1.06)	2.63
EVT	0.58	(0.01)	0.00	(0.09)	0.00	0.00	1.49	(1.31)	3.45

Tekla Life Corporate Management

Thomas Kent	Independent Trustee	Profile
William Reardon	Independent Trustee	Profile
Elizabeth Nabel	Independent Trustee	Profile
Laura Woodward	Chief Compliance Officer, Treasurer, Secretary	Profile
Peter Branner	Chief Officer	Profile

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