T2 Biosystems Correlations
| TTOODelisted Stock | USD 0.18 0.05 21.74% |
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as T2 Biosystems moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if T2 Biosystems moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
T2 Biosystems Correlation With Market
Weak diversification
The correlation between T2 Biosystems and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding T2 Biosystems and DJI in the same portfolio, assuming nothing else is changed.
TTOO |
The ability to find closely correlated positions to T2 Biosystems could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace T2 Biosystems 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 T2 Biosystems - 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 T2 Biosystems to buy it.
Moving together with TTOO Pink Sheet
| 0.83 | ME | 23Andme Holding | PairCorr |
| 0.91 | MDXH | MDxHealth SA ADR | PairCorr |
| 0.67 | MYGN | Myriad Genetics | PairCorr |
| 0.72 | NDRA | ENDRA Life Sciences Earnings Call This Week | PairCorr |
| 0.91 | NEOG | Neogen | PairCorr |
| 0.81 | NOTV | Inotiv Inc | PairCorr |
| 0.92 | EXAS | EXACT Sciences | PairCorr |
| 0.65 | FLGT | Fulgent Genetics | PairCorr |
| 0.92 | AWH | Aspira Womens Health Earnings Call This Week | PairCorr |
| 0.64 | BNR | Burning Rock Biotech | PairCorr |
| 0.63 | CRL | Charles River Labora | PairCorr |
| 0.73 | DHR | Danaher Sell-off Trend | PairCorr |
| 0.82 | ENZ | Enzo Biochem | PairCorr |
| 0.63 | IQV | IQVIA Holdings | PairCorr |
| 0.83 | LAB | Standard Biotools | PairCorr |
| 0.92 | MMA | Alta Global Group | PairCorr |
| 0.92 | NEO | NeoGenomics | PairCorr |
| 0.74 | PRE | Prenetics Global | PairCorr |
| 0.63 | SHC | Sotera Health | PairCorr |
| 0.86 | XWEL | XWELL Inc | PairCorr |
| 0.77 | PMAX | Powell Max Limited | PairCorr |
Moving against TTOO Pink Sheet
| 0.83 | DGX | Quest Diagnostics | PairCorr |
| 0.62 | LH | Laboratory | PairCorr |
| 0.54 | GH | Guardant Health | PairCorr |
| 0.44 | STRRP | Star Equity Holdings | PairCorr |
| 0.77 | OPK | Opko Health | PairCorr |
| 0.74 | OCX | OncoCyte Corp Downward Rally | PairCorr |
| 0.71 | PRPO | Precipio | PairCorr |
| 0.66 | GRAL | GRAIL, LLC Symbol Change | PairCorr |
| 0.53 | PRENW | Prenetics Holding | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between TTOO Pink Sheet performing well and T2 Biosystems 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 T2 Biosystems' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BIOC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GENE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| HTGM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| INBS | 4.13 | 0.72 | 0.12 | 0.35 | 5.20 | 11.39 | 40.17 | |||
| IDXG | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BIAF | 5.57 | (1.39) | 0.00 | (1.09) | 0.00 | 13.46 | 38.76 | |||
| SQL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TMO | 1.12 | 0.00 | 0.00 | (0.07) | 0.00 | 2.40 | 10.04 | |||
| ILMN | 1.90 | (0.75) | 0.00 | (0.95) | 0.00 | 2.87 | 15.07 |
T2 Biosystems Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with T2 Biosystems pink sheet to make a market-neutral strategy. Peer analysis of T2 Biosystems could also be used in its relative valuation, which is a method of valuing T2 Biosystems by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
T2 Biosystems Corporate Management
| Roger Smith | Senior Development | Profile | |
| Aparna MD | Chief Board | Profile | |
| Kelley Morgan | Chief Officer | Profile | |
| Michael Esq | Sr Counsel | Profile | |
| Brett Giffin | Chief Officer | Profile |
Still Interested in T2 Biosystems?
Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.