Biogen Correlations

Stocks . Germany . 
Stock . Biogen Inc
IDP Stock   141.10  0.95  0.67%   
The current 90-days correlation between Biogen Inc and NAKED WINES PLC is 0.14 (i.e., Average diversification). The correlation of Biogen 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.

Biogen Correlation With Market

Average diversification

The correlation between Biogen Inc and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Biogen Inc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Biogen could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Biogen 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 Biogen - 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 Biogen Inc to buy it.

Moving together with Biogen Stock

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Moving against Biogen Stock

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Related Correlations Analysis

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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   
C8C
+ 0.9
NU42
C8C
+ 0.48
6IC
6IC
+ 0.4
NU42
6IC
+ 0.01
MWJ
6GC
+ 0.0
MWJ
6IC
+ 0.0
6GC
  
High negative correlations   
6GC
- 0.55
NU42
C8C
- 0.46
MWJ
C8C
- 0.45
6GC
NU42
- 0.38
MWJ
6IC
- 0.0
6GC
6GC
- 0.0
MWJ

Risk-Adjusted Indicators

There is a big difference between Biogen Stock performing well and Biogen 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 Biogen'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Biogen 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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Biogen Corporate Management

Elected by the shareholders, the Biogen's board of directors comprises two types of representatives: Biogen inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Biogen. The board's role is to monitor Biogen's management team and ensure that shareholders' interests are well served. Biogen'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, Biogen's outside directors are responsible for providing unbiased perspectives on the board's policies.
Robin KramerVP OfficerProfile
Sanjay JariwalaVP MedicalProfile
Susan EsqChief VPProfile
Ginger GregoryEx OfficerProfile
Anabella VillalobosHead SciencesProfile
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