Ocean Biomedical Correlations
| OCEA Stock | 0.06 0.0001 0.16% |
The current 90-days correlation between Ocean Biomedical and Elevation Oncology is 0.03 (i.e., Significant diversification). The correlation of Ocean Biomedical 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.
Ocean Biomedical Correlation With Market
Average diversification
The correlation between Ocean Biomedical and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ocean Biomedical and DJI in the same portfolio, assuming nothing else is changed.
Ocean |
Moving together with Ocean Stock
| 0.78 | EYEN | Eyenovia | PairCorr |
| 0.61 | SNDL | SNDL Inc | PairCorr |
| 0.63 | CLDX | Celldex Therapeutics | PairCorr |
| 0.71 | MDAI | Spectral AI | PairCorr |
| 0.69 | OTRK | Ontrak Inc | PairCorr |
| 0.61 | SRDX | SurModics | PairCorr |
Moving against Ocean Stock
| 0.69 | FNA | Paragon 28 | PairCorr |
| 0.66 | CPIX | Cumberland Pharmaceuticals | PairCorr |
| 0.53 | CMRX | Chimerix | PairCorr |
| 0.34 | OPT | Opthea | PairCorr |
| 0.77 | INMD | InMode | PairCorr |
| 0.73 | NVRO | Nevro Corp | PairCorr |
| 0.65 | LUCD | Lucid Diagnostics | PairCorr |
| 0.42 | MASI | Masimo | PairCorr |
| 0.37 | LUNG | Pulmonx Corp | PairCorr |
| 0.67 | BRK-A | Berkshire Hathaway | PairCorr |
| 0.66 | BRK-B | Berkshire Hathaway | PairCorr |
| 0.57 | FWEDF | Fireweed Zinc | PairCorr |
| 0.56 | NHNCF | NAVER Corp | PairCorr |
| 0.55 | TRGGF | Tarachi Gold Corp | PairCorr |
| 0.55 | TOI | Oncology Institute Earnings Call This Week | PairCorr |
Related Correlations Analysis
| 0.64 | 0.5 | 0.0 | 0.0 | 0.61 | 0.0 | ENVB | ||
| 0.64 | 0.6 | 0.0 | 0.0 | 0.9 | 0.0 | HEPA | ||
| 0.5 | 0.6 | 0.0 | 0.0 | 0.5 | 0.0 | ELEV | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | AVRO | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | CWBR | ||
| 0.61 | 0.9 | 0.5 | 0.0 | 0.0 | 0.0 | ZURA | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | EFTR | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Ocean Stock performing well and Ocean Biomedical 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 Ocean Biomedical'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ENVB | 7.43 | (0.50) | 0.00 | (0.37) | 0.00 | 12.04 | 113.38 | |||
| HEPA | 9.87 | (3.91) | 0.00 | (5.38) | 0.00 | 16.37 | 90.05 | |||
| ELEV | 5.06 | (0.69) | 0.00 | (0.53) | 0.00 | 8.33 | 68.94 | |||
| AVRO | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CWBR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ZURA | 4.61 | (0.40) | 0.00 | (0.23) | 0.00 | 9.79 | 29.06 | |||
| EFTR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Ocean Biomedical Corporate Executives
Elected by the shareholders, the Ocean Biomedical's board of directors comprises two types of representatives: Ocean Biomedical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Ocean. The board's role is to monitor Ocean Biomedical's management team and ensure that shareholders' interests are well served. Ocean Biomedical'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, Ocean Biomedical's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Gurinder MBA | CFO Treasurer | Profile |