Opko Health Correlations

OPK Stock

USD 1.74 0.02 1.16%

The current 90-days correlation between Opko Health and Caredx Inc is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Opko Health moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Opko Health moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Opko Health Correlation With Market

Very good diversification

The correlation between Opko Health and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Opko Health and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Opko Health. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For more information on how to buy Opko Stock please use our How to buy in Opko Stock guide.

Moving together with Opko Stock

0.79	IVA	Inventiva Sa	Pair Corr
0.73	LLY	Eli Lilly	Pair Corr
0.79	PBH	Prestige Brand Holdings	Pair Corr
0.73	KRYS	Krystal Biotech	Pair Corr
0.76	ABBV	AbbVie Inc	Pair Corr

Moving against Opko Stock

0.72	NKTX	Nkarta Inc Earnings Call This Week	Pair Corr
0.68	PALI	Palisade Bio	Pair Corr
0.64	ZVSA	ZyVersa Therapeutics	Pair Corr
0.64	PHVS	Pharvaris BV	Pair Corr
0.61	ENVB	Enveric Biosciences	Pair Corr
0.58	IMMX	Immix Biopharma	Pair Corr
0.53	KZR	Kezar Life Sciences	Pair Corr
0.53	MNOV	MediciNova	Pair Corr
0.52	ZURA	Zura Bio Limited	Pair Corr
0.52	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.43	MRK	Merck Company Sell-off Trend	Pair Corr
0.43	MOLN	Molecular Partners	Pair Corr
0.4	PHIO	Phio Pharmaceuticals Corp	Pair Corr
0.4	PMVP	Pmv Pharmaceuticals	Pair Corr
0.32	EVO	Evotec SE ADR	Pair Corr
0.31	NBY	NovaBay Pharmaceuticals	Pair Corr
0.77	EMBC	Embecta Corp	Pair Corr
0.77	GKOS	Glaukos Corp	Pair Corr
0.73	WST	West Pharmaceutical	Pair Corr
0.68	CNSP	Cns Pharmaceuticals Upward Rally	Pair Corr
0.65	DAWN	Day One Biopharmaceu Downward Rally	Pair Corr
0.64	SUPN	Supernus Pharmaceuticals	Pair Corr
0.63	ELMD	Electromed	Pair Corr
0.6	HOLX	Hologic	Pair Corr
0.58	CGEM	Cullinan Oncology LLC	Pair Corr
0.58	CNTB	Connect Biopharma	Pair Corr
0.56	APLS	Apellis Pharmaceuticals	Pair Corr

Related Correlations Analysis

	CDNA	CSTL	TWST	BDSX	NTRA	FLGT	ILMN	TTOO	A
CDNA		0.76	0.62	0.23	0.89	-0.09	0.46	0.57	0.56	CDNA
CSTL	0.76		0.69	0.66	0.87	0.31	0.73	0.4	0.51	CSTL
TWST	0.62	0.69		0.42	0.79	0.15	0.71	0.6	0.75	TWST
BDSX	0.23	0.66	0.42		0.38	0.8	0.8	-0.03	0.14	BDSX
NTRA	0.89	0.87	0.79	0.38		0.06	0.64	0.64	0.7	NTRA
FLGT	-0.09	0.31	0.15	0.8	0.06		0.57	-0.24	-0.13	FLGT
ILMN	0.46	0.73	0.71	0.8	0.64	0.57		0.51	0.54	ILMN
TTOO	0.57	0.4	0.6	-0.03	0.64	-0.24	0.51		0.74	TTOO
A	0.56	0.51	0.75	0.14	0.7	-0.13	0.54	0.74		A
	CDNA	CSTL	TWST	BDSX	NTRA	FLGT	ILMN	TTOO	A

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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

NTRA	+ 0.89	CDNA
NTRA	+ 0.87	CSTL
FLGT	+ 0.8	BDSX
ILMN	+ 0.8	BDSX
NTRA	+ 0.79	TWST
CSTL	+ 0.76	CDNA

High negative correlations

TTOO	- 0.24	FLGT
A	- 0.13	FLGT
FLGT	- 0.09	CDNA
TTOO	- 0.03	BDSX

Risk-Adjusted Indicators

There is a big difference between Opko Stock performing well and Opko Health 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 Opko Health'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
CDNA	3.09	(0.32)	0.00	0.30	0.00	0.00	5.88	(7.44)	19.59
CSTL	2.53	(0.52)	0.00	(0.98)	0.00	0.00	4.51	(6.33)	23.81
TWST	3.06	(0.23)	0.00	(1.30)	0.00	0.00	6.39	(6.90)	18.27
BDSX	3.57	(0.94)	0.00	3.20	0.00	0.00	5.00	(8.87)	29.63
NTRA	2.18	(0.20)	0.00	5.74	0.00	0.00	4.36	(5.71)	13.77
FLGT	1.95	(0.23)	0.00	0.46	0.00	0.00	3.85	(3.80)	16.71
ILMN	2.01	(0.83)	0.00	73.13	0.00	0.00	2.87	(5.47)	15.07
TTOO	10.57	0.07	0.04	(0.13)	11.17	(22.55)	17.14	(21.74)	151.74
A	1.16	(0.12)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03

Opko Health Corporate Executives

Elected by the shareholders, the Opko Health's board of directors comprises two types of representatives: Opko Health inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Opko. The board's role is to monitor Opko Health's management team and ensure that shareholders' interests are well served. Opko Health'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, Opko Health's outside directors are responsible for providing unbiased perspectives on the board's policies.

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