Beyond Air Correlations

XAIR Stock

USD 0.32 0.00 0.000003%

The current 90-days correlation between Beyond Air and Lucid Diagnostics is -0.14 (i.e., Good diversification). The correlation of Beyond Air 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.

Beyond Air Correlation With Market

Average diversification

The correlation between Beyond Air and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beyond Air and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Beyond Air. 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.

To learn how to invest in Beyond Stock, please use our How to Invest in Beyond Air guide.

Moving together with Beyond Stock

0.71	CI	Cigna Corp	Pair Corr
0.79	COO	Cooper Companies, Earnings Call Tomorrow	Pair Corr
0.75	TFX	Teleflex Incorporated	Pair Corr
0.73	UNH	UnitedHealth Group	Pair Corr
0.61	EDIT	Editas Medicine Earnings Call Tomorrow	Pair Corr
0.68	KURA	Kura Oncology	Pair Corr
0.84	ABOS	Acumen Pharmaceuticals	Pair Corr

Moving against Beyond Stock

0.73	ANGO	AngioDynamics	Pair Corr
0.37	DRMA	Dermata Therapeutics	Pair Corr
0.68	PHGE	Biomx Inc	Pair Corr
0.66	GANX	Gain Therapeutics	Pair Corr
0.64	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.55	OPT	Opthea Earnings Call Tomorrow	Pair Corr
0.54	CUE	Cue Biopharma	Pair Corr
0.52	FENC	Fennec Pharmaceuticals	Pair Corr
0.51	LTRN	Lantern Pharma	Pair Corr
0.47	TMO	Thermo Fisher Scientific	Pair Corr
0.46	XFOR	X4 Pharmaceuticals	Pair Corr

Related Correlations Analysis

	LUCD	NARI	PAVMZ	CLPT	TBIO	RCEL	SGHT	TMCI	CTKB
LUCD		0.42	-0.16	0.19	0.0	-0.3	-0.49	0.58	-0.6	LUCD
NARI	0.42		-0.5	0.75	0.0	-0.91	-0.93	0.81	-0.76	NARI
PAVMZ	-0.16	-0.5		-0.69	0.0	0.43	0.59	-0.27	0.31	PAVMZ
CLPT	0.19	0.75	-0.69		0.0	-0.62	-0.77	0.61	-0.56	CLPT
TBIO	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	TBIO
RCEL	-0.3	-0.91	0.43	-0.62	0.0		0.87	-0.69	0.67	RCEL
SGHT	-0.49	-0.93	0.59	-0.77	0.0	0.87		-0.74	0.81	SGHT
TMCI	0.58	0.81	-0.27	0.61	0.0	-0.69	-0.74		-0.76	TMCI
CTKB	-0.6	-0.76	0.31	-0.56	0.0	0.67	0.81	-0.76		CTKB
	LUCD	NARI	PAVMZ	CLPT	TBIO	RCEL	SGHT	TMCI	CTKB

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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

SGHT	+ 0.87	RCEL
TMCI	+ 0.81	NARI
CTKB	+ 0.81	SGHT
CLPT	+ 0.75	NARI
CTKB	+ 0.67	RCEL
TMCI	+ 0.61	CLPT

High negative correlations

SGHT	- 0.93	NARI
RCEL	- 0.91	NARI
SGHT	- 0.77	CLPT
CTKB	- 0.76	TMCI
CTKB	- 0.76	NARI
TMCI	- 0.74	SGHT

Risk-Adjusted Indicators

There is a big difference between Beyond Stock performing well and Beyond Air 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 Beyond Air'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
LUCD	3.01	0.64	0.18	1.06	2.81	(3.97)	8.90	(4.44)	27.78
NARI	2.19	0.77	0.45	(1.00)	1.00	(2.80)	4.52	(3.20)	30.79
PAVMZ	29.62	6.51	0.19	0.59	25.07	(42.52)	97.51	(61.96)	294.77
CLPT	3.40	0.72	0.23	0.57	2.76	(4.57)	8.38	(4.76)	27.24
TBIO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RCEL	3.31	(0.16)	0.00	(0.54)	0.00	0.00	5.14	(4.68)	46.29
SGHT	2.44	(0.61)	0.00	(0.54)	0.00	0.00	6.25	(5.72)	15.53
TMCI	2.89	0.42	0.16	0.22	2.34	(4.06)	8.14	(3.88)	18.71
CTKB	2.54	(0.12)	0.00	(0.39)	0.00	0.00	5.72	(4.81)	27.74

Beyond Air Corporate Management

Duncan Fatkin	Chief Commercial Officer	Profile
Giora MD	Chief Officer	Profile
David Webster	Chief Officer	Profile
Michael Gaul	Chief Officer	Profile
Jeff MD	Chief Officer	Profile

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