Prenetics Global Correlations

PRE Stock

USD 4.06 0.24 5.58%

The correlation of Prenetics Global 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.

Prenetics Global Correlation With Market

Average diversification

The correlation between Prenetics Global and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prenetics Global 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 Prenetics Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For information on how to trade Prenetics Stock refer to our How to Trade Prenetics Stock guide.

Moving together with Prenetics Stock

0.77	TTOO	T2 Biosystems	Pair Corr
0.86	FLYW	Flywire Corp	Pair Corr
0.61	FIS	Fidelity National	Pair Corr
0.77	RCB	Ready Capital	Pair Corr
0.66	JNVR	Janover Common Stock Upward Rally	Pair Corr
0.85	MOGO	Mogo Inc	Pair Corr

Moving against Prenetics Stock

0.81	FCRX	First Eagle Alternative	Pair Corr
0.66	EVTC	Evertec	Pair Corr
0.51	DOMH	Dominari Holdings	Pair Corr
0.31	GEGGL	Great Elm Group	Pair Corr
0.86	LPAA	Launch One Acquisition	Pair Corr
0.85	MACI	Melar Acquisition Corp	Pair Corr
0.83	HCXY	Hercules Capital	Pair Corr
0.77	RZB	Reinsurance Group	Pair Corr
0.71	CLRCR	ClimateRock Right	Pair Corr
0.67	MSSAR	Metal Sky Star	Pair Corr
0.65	YOTAR	Yotta Acquisition	Pair Corr
0.58	OXSQG	Oxford Square Capital	Pair Corr
0.56	HTFB	Horizon Technology	Pair Corr
0.36	JKHY	Jack Henry Associates	Pair Corr
0.85	RFAI	RF Acquisition Corp	Pair Corr
0.82	MFICL	MidCap Financial Inv	Pair Corr
0.77	RWAYL	MSCI ACWI exAUCONSUMER	Pair Corr
0.73	RILYK	B Riley Financial	Pair Corr

Related Correlations Analysis

	NEOG	QGEN	OLK	ACRS	SYNH	FONR	BNR	SERA	LMDX	GTH
NEOG		0.9	0.0	0.82	0.0	0.45	0.63	0.92	0.0	0.0	NEOG
QGEN	0.9		0.0	0.78	0.0	0.45	0.54	0.86	0.0	0.0	QGEN
OLK	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	OLK
ACRS	0.82	0.78	0.0		0.0	0.66	0.68	0.81	0.0	0.0	ACRS
SYNH	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SYNH
FONR	0.45	0.45	0.0	0.66	0.0		0.6	0.3	0.0	0.0	FONR
BNR	0.63	0.54	0.0	0.68	0.0	0.6		0.51	0.0	0.0	BNR
SERA	0.92	0.86	0.0	0.81	0.0	0.3	0.51		0.0	0.0	SERA
LMDX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	LMDX
GTH	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		GTH
	NEOG	QGEN	OLK	ACRS	SYNH	FONR	BNR	SERA	LMDX	GTH

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

SERA	+ 0.92	NEOG
QGEN	+ 0.9	NEOG
SERA	+ 0.86	QGEN
ACRS	+ 0.82	NEOG
SERA	+ 0.81	ACRS
ACRS	+ 0.78	QGEN

High negative correlations

GTH	- 0.0	LMDX
GTH	- 0.0	SERA
LMDX	- 0.0	SERA
GTH	- 0.0	BNR
LMDX	- 0.0	BNR
GTH	- 0.0	FONR

Risk-Adjusted Indicators

There is a big difference between Prenetics Stock performing well and Prenetics Global 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 Prenetics Global'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NEOG	2.05	(0.44)	(0.92)	3.92	(5.06)	12.07
QGEN	1.12	(0.21)	(0.74)	2.59	(3.00)	6.36
OLK	0.00	0.00	0.00	0.00	0.00	0.00
ACRS	2.70	(1.02)	(2.42)	4.84	(7.95)	18.01
SYNH	0.00	0.00	0.00	0.00	0.00	0.00
FONR	1.34	(0.16)	(1.19)	2.50	(2.86)	10.83
BNR	3.88	(0.11)	(0.25)	8.52	(10.25)	26.46
SERA	3.40	(0.97)	(0.82)	5.72	(8.66)	26.54
LMDX	0.00	0.00	0.00	0.00	0.00	0.00
GTH	0.00	0.00	0.00	0.00	0.00	0.00

Prenetics Global Corporate Management

Senthil MD	Chief Officer	Profile
Yvonne Wong	Chief Officer	Profile
Avrom Lasarow	Chief EMEA	Profile
Yung DPHIL	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC