Sino Biopharmaceutica Correlations
| SBHMY Stock | USD 9.05 0.00 0.00% |
The current 90-days correlation between Sino Biopharmaceutical and Nuvalent is 0.1 (i.e., Average diversification). The correlation of Sino Biopharmaceutica 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.
Sino Biopharmaceutica Correlation With Market
Significant diversification
The correlation between Sino Biopharmaceutical Ltd and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sino Biopharmaceutical Ltd and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Sino Biopharmaceutica could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sino Biopharmaceutica 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 Sino Biopharmaceutica - 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 Sino Biopharmaceutical Ltd to buy it.
Moving together with Sino Pink Sheet
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| 0.67 | T | ATT Inc Sell-off Trend | PairCorr |
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| 0.62 | DIS | Walt Disney Sell-off Trend | PairCorr |
| 0.82 | CSCO | Cisco Systems | PairCorr |
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Moving against Sino Pink Sheet
| 0.8 | REGN | Regeneron Pharmaceuticals | PairCorr |
| 0.73 | NVO | Novo Nordisk AS | PairCorr |
| 0.72 | NONOF | Novo Nordisk AS | PairCorr |
| 0.69 | CSLLY | CSL | PairCorr |
| 0.69 | QSAM | Qsam Biosciences | PairCorr |
| 0.59 | NIHK | Video River Networks | PairCorr |
| 0.57 | CMXHF | CSL Limited | PairCorr |
| 0.51 | MCAE | Mountain Crest Acqui | PairCorr |
| 0.4 | SGEN | Seagen Inc | PairCorr |
| 0.83 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.79 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.68 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
| 0.53 | VZ | Verizon Communications Fiscal Year End 28th of January 2025 | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Sino Pink Sheet performing well and Sino Biopharmaceutica 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 Sino Biopharmaceutica'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MRES | 8.16 | 1.13 | 0.10 | (2.65) | 7.85 | 16.33 | 102.95 | |||
| DTCFF | 1.04 | (0.15) | 0.00 | 1.03 | 0.00 | 0.00 | 25.87 | |||
| ALRN | 4.30 | (0.28) | 0.00 | (0.36) | 0.00 | 8.06 | 41.47 | |||
| ENLV | 3.93 | 0.01 | 0.01 | 0.12 | 3.97 | 10.71 | 35.66 | |||
| PTIX | 6.61 | (0.01) | 0.00 | 0.12 | 0.00 | 17.02 | 49.09 | |||
| ZIVO | 3.01 | (0.53) | 0.00 | 0.61 | 0.00 | 5.31 | 36.36 | |||
| CYT | 2.76 | 0.56 | 0.13 | 41.01 | 2.57 | 10.00 | 36.14 | |||
| ELDN | 3.90 | 0.00 | 0.27 | 0.00 | 3.26 | 10.09 | 28.12 | |||
| OPT | 2.99 | 0.21 | 0.04 | 0.39 | 3.83 | 9.15 | 24.20 | |||
| CNTA | 2.84 | 0.14 | 0.04 | 0.24 | 3.49 | 7.57 | 21.09 |
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