Bio Techne Correlations

TECH Stock

USD 75.36 0.02 0.03%

The current 90-days correlation between Bio Techne Corp and Biomarin Pharmaceutical is 0.16 (i.e., Average diversification). The correlation of Bio Techne 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.

Bio Techne Correlation With Market

Weak diversification

The correlation between Bio Techne Corp and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bio Techne Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Bio Techne Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Bio Stock

0.67	A	Agilent Technologies Sell-off Trend	Pair Corr
0.63	DNLI	Denali Therapeutics	Pair Corr

Moving against Bio Stock

0.32	DRUG	Bright Minds Biosciences Trending	Pair Corr
0.53	VTVT	vTv Therapeutics	Pair Corr
0.32	ENGN	enGene Holdings Common	Pair Corr

Related Correlations Analysis

	BMRN	PCVX	LQDA	LEGN	SGEN	ALNY	EXEL	HALO	REPL	NUVL
BMRN		0.08	-0.62	0.83	0.7	0.0	-0.62	0.62	-0.55	-0.46	BMRN
PCVX	0.08		0.07	0.25	-0.11	0.5	-0.56	0.28	-0.24	0.47	PCVX
LQDA	-0.62	0.07		-0.51	-0.51	0.47	0.39	-0.54	0.62	0.42	LQDA
LEGN	0.83	0.25	-0.51		0.64	0.13	-0.79	0.63	-0.51	-0.06	LEGN
SGEN	0.7	-0.11	-0.51	0.64		-0.09	-0.4	0.28	-0.41	-0.39	SGEN
ALNY	0.0	0.5	0.47	0.13	-0.09		-0.33	0.18	-0.01	0.45	ALNY
EXEL	-0.62	-0.56	0.39	-0.79	-0.4	-0.33		-0.42	0.63	-0.22	EXEL
HALO	0.62	0.28	-0.54	0.63	0.28	0.18	-0.42		-0.39	-0.05	HALO
REPL	-0.55	-0.24	0.62	-0.51	-0.41	-0.01	0.63	-0.39		0.14	REPL
NUVL	-0.46	0.47	0.42	-0.06	-0.39	0.45	-0.22	-0.05	0.14		NUVL
	BMRN	PCVX	LQDA	LEGN	SGEN	ALNY	EXEL	HALO	REPL	NUVL

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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

LEGN	+ 0.83	BMRN
SGEN	+ 0.7	BMRN
SGEN	+ 0.64	LEGN
HALO	+ 0.63	LEGN
REPL	+ 0.63	EXEL
HALO	+ 0.62	BMRN

High negative correlations

EXEL	- 0.79	LEGN
EXEL	- 0.62	BMRN
LQDA	- 0.62	BMRN
EXEL	- 0.56	PCVX
REPL	- 0.55	BMRN
HALO	- 0.54	LQDA

Risk-Adjusted Indicators

There is a big difference between Bio Stock performing well and Bio Techne 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 Bio Techne'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
BMRN	1.29	(0.51)	0.00	(0.96)	0.00	0.00	1.42	(3.32)	18.88
PCVX	2.24	0.51	0.10	(0.36)	2.19	(2.59)	3.32	(4.09)	42.81
LQDA	1.96	0.25	0.09	0.55	1.87	(2.40)	4.93	(3.39)	18.78
LEGN	2.37	(0.50)	0.00	(0.58)	0.00	0.00	4.29	(5.82)	17.18
SGEN	0.58	(0.07)	0.00	(4.07)	0.00	0.00	1.02	(0.89)	6.86
ALNY	1.63	(0.31)	0.00	(0.10)	0.00	0.00	2.85	(3.88)	13.26
EXEL	1.47	0.47	0.31	1.00	0.88	(1.79)	3.14	(1.77)	14.75
HALO	2.38	(0.58)	0.00	(0.24)	0.00	0.00	3.90	(6.75)	28.41
REPL	3.32	0.38	0.12	0.34	3.34	(3.59)	8.25	(6.02)	46.30
NUVL	2.23	0.06	0.05	0.17	2.72	(2.50)	3.84	(4.61)	36.85

Bio Techne Corporate Management

Lynne Hohlfeld	Senior Division	Profile
Luca Cicchetti	Managing Director	Profile
Brenda JD	Gen VP	Profile
Martin Wirtz	Senior Development	Profile
Cheryl Bethune	Senior Officer	Profile

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