Trinity Biotech Correlations

TRIB Stock

USD 0.76 0.01 1.30%

The current 90-days correlation between Trinity Biotech plc and Star Equity Holdings is -0.01 (i.e., Good diversification). The correlation of Trinity Biotech 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.

Trinity Biotech Correlation With Market

Significant diversification

The correlation between Trinity Biotech plc and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Trinity Biotech plc 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 Trinity Biotech plc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Trinity Stock

0.68	COO	Cooper Companies, Downward Rally	Pair Corr
0.78	TFX	Teleflex Incorporated Earnings Call This Week	Pair Corr
0.68	ICUI	ICU Medical Earnings Call This Week	Pair Corr
0.73	LIVN	LivaNova PLC Earnings Call Tomorrow	Pair Corr
0.76	PAVM	PAVmed Inc	Pair Corr
0.71	EWTX	Edgewise Therapeutics Earnings Call This Week	Pair Corr
0.72	FDMT	4D Molecular Therapeutics	Pair Corr
0.77	FHTX	Foghorn Therapeutics Trending	Pair Corr
0.69	CGC	Canopy Growth Corp	Pair Corr
0.81	GBIO	Generation Bio	Pair Corr

Moving against Trinity Stock

0.69	DRTS	Alpha Tau Medical	Pair Corr
0.66	NPCE	Neuropace	Pair Corr
0.59	ANGO	AngioDynamics	Pair Corr
0.44	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.39	ELMD	Electromed	Pair Corr
0.32	IRMD	Iradimed	Pair Corr
0.67	KRON	Kronos Bio	Pair Corr
0.5	LNTH	Lantheus Holdings Earnings Call This Week	Pair Corr
0.45	GOSS	Gossamer Bio	Pair Corr
0.33	NBIX	Neurocrine Biosciences	Pair Corr
0.31	XFOR	X4 Pharmaceuticals	Pair Corr

Related Correlations Analysis

	STRRP	LAB	GTH	BDSX	NDRA	SERA	OLK	FONR	STIM	XGN
STRRP		0.15	0.0	0.17	0.19	0.2	0.0	-0.17	-0.12	-0.19	STRRP
LAB	0.15		0.0	0.62	0.25	0.75	0.0	-0.41	-0.62	-0.01	LAB
GTH	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	GTH
BDSX	0.17	0.62	0.0		0.32	0.78	0.0	-0.35	-0.81	-0.08	BDSX
NDRA	0.19	0.25	0.0	0.32		0.22	0.0	-0.24	-0.11	-0.52	NDRA
SERA	0.2	0.75	0.0	0.78	0.22		0.0	-0.49	-0.68	0.11	SERA
OLK	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	OLK
FONR	-0.17	-0.41	0.0	-0.35	-0.24	-0.49	0.0		0.31	0.23	FONR
STIM	-0.12	-0.62	0.0	-0.81	-0.11	-0.68	0.0	0.31		0.17	STIM
XGN	-0.19	-0.01	0.0	-0.08	-0.52	0.11	0.0	0.23	0.17		XGN
	STRRP	LAB	GTH	BDSX	NDRA	SERA	OLK	FONR	STIM	XGN

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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

SERA	+ 0.78	BDSX
SERA	+ 0.75	LAB
BDSX	+ 0.62	LAB
NDRA	+ 0.32	BDSX
STIM	+ 0.31	FONR
NDRA	+ 0.25	LAB

High negative correlations

STIM	- 0.81	BDSX
STIM	- 0.68	SERA
STIM	- 0.62	LAB
XGN	- 0.52	NDRA
FONR	- 0.49	SERA
FONR	- 0.41	LAB

Risk-Adjusted Indicators

There is a big difference between Trinity Stock performing well and Trinity Biotech 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 Trinity Biotech'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
STRRP	1.29	0.04	0.02	(0.12)	1.85	(1.63)	2.86	(3.16)	9.73
LAB	4.26	(0.48)	0.00	(0.42)	0.00	0.00	6.43	(9.29)	40.74
GTH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BDSX	3.12	(0.39)	0.00	1.93	0.00	0.00	6.67	(6.96)	29.63
NDRA	4.60	(0.14)	0.00	(0.10)	0.00	0.00	8.45	(8.32)	25.29
SERA	3.90	(0.64)	0.00	(0.92)	0.00	0.00	7.17	(8.66)	33.33
OLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FONR	1.35	0.13	0.08	0.14	1.39	(1.57)	2.67	(2.62)	13.34
STIM	7.23	2.55	0.25	(4.79)	8.47	(8.51)	19.27	(10.13)	50.61
XGN	5.81	0.95	0.15	0.35	5.57	(7.02)	18.98	(9.13)	45.67

Trinity Biotech Corporate Management

Simon Dunne	Chief Officer	Profile
Fernando Devia	Ex Sales	Profile
Eibhlin Kelly	Chief Officer	Profile
Aris Kekedjian	CEO Chairman	Profile

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