Bionomics Correlations

BNOX Stock

USD 0.30 0.02 7.14%

The current 90-days correlation between Bionomics ADR and Hillstream Biopharma is 0.05 (i.e., Significant diversification). The correlation of Bionomics 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.

Bionomics Correlation With Market

Significant diversification

The correlation between Bionomics Ltd ADR 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 Bionomics Ltd ADR and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bionomics Ltd ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Bionomics Stock

0.66	VALN	Valneva SE ADR	Pair Corr
0.79	VCNX	Vaccinex	Pair Corr
0.69	DRMA	Dermata Therapeutics	Pair Corr
0.71	DTIL	Precision BioSciences	Pair Corr
0.81	VINC	Vincerx Pharma	Pair Corr
0.65	VRAX	Virax Biolabs Group	Pair Corr
0.69	VRCA	Verrica Pharmaceuticals	Pair Corr
0.64	VRPX	Virpax Pharmaceuticals	Pair Corr
0.7	CDTTW	Conduit Pharmaceuticals	Pair Corr

Moving against Bionomics Stock

0.67	DRUG	Bright Minds Biosciences Trending	Pair Corr
0.55	SABSW	SAB Biotherapeutics	Pair Corr
0.48	VCYT	Veracyte	Pair Corr
0.41	DMAC	DiaMedica Therapeutics Trending	Pair Corr
0.4	VERA	Vera Therapeutics	Pair Corr
0.72	VRNA	Verona Pharma PLC	Pair Corr
0.64	VSTM	Verastem Trending	Pair Corr
0.55	VRDN	Viridian Therapeutics	Pair Corr
0.31	DVAX	Dynavax Technologies	Pair Corr
0.31	KTTAW	Pasithea Therapeutics	Pair Corr

Related Correlations Analysis

	ACUT	HILS	CMRA	SPRC	ANEB	PMVP	MIRO	ZIVO	AVTE
ACUT		0.33	0.52	0.42	0.4	-0.38	-0.5	0.56	-0.59	ACUT
HILS	0.33		0.62	0.81	0.07	-0.13	-0.16	0.33	-0.45	HILS
CMRA	0.52	0.62		0.74	0.15	-0.35	-0.17	0.23	-0.45	CMRA
SPRC	0.42	0.81	0.74		0.17	-0.16	-0.14	0.39	-0.51	SPRC
ANEB	0.4	0.07	0.15	0.17		-0.49	-0.61	0.75	-0.66	ANEB
PMVP	-0.38	-0.13	-0.35	-0.16	-0.49		0.77	-0.54	0.7	PMVP
MIRO	-0.5	-0.16	-0.17	-0.14	-0.61	0.77		-0.8	0.82	MIRO
ZIVO	0.56	0.33	0.23	0.39	0.75	-0.54	-0.8		-0.83	ZIVO
AVTE	-0.59	-0.45	-0.45	-0.51	-0.66	0.7	0.82	-0.83		AVTE
	ACUT	HILS	CMRA	SPRC	ANEB	PMVP	MIRO	ZIVO	AVTE

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

AVTE	+ 0.82	MIRO
SPRC	+ 0.81	HILS
MIRO	+ 0.77	PMVP
ZIVO	+ 0.75	ANEB
SPRC	+ 0.74	CMRA
AVTE	+ 0.7	PMVP

High negative correlations

AVTE	- 0.83	ZIVO
ZIVO	- 0.8	MIRO
AVTE	- 0.66	ANEB
MIRO	- 0.61	ANEB
AVTE	- 0.59	ACUT
ZIVO	- 0.54	PMVP

Risk-Adjusted Indicators

There is a big difference between Bionomics Stock performing well and Bionomics 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 Bionomics' 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
ACUT	6.32	(0.08)	0.02	0.11	7.84	(12.68)	20.00	(20.37)	52.38
HILS	5.56	(0.90)	0.00	(0.22)	0.00	0.00	8.33	(7.89)	113.15
CMRA	5.99	0.12	0.00	0.01	0.00	0.00	13.95	(12.70)	30.28
SPRC	4.03	(0.87)	0.00	9.01	0.00	0.00	4.55	(8.33)	39.88
ANEB	4.86	(0.19)	0.00	(0.01)	0.00	0.00	8.61	(11.48)	76.00
PMVP	1.56	(0.03)	(0.03)	0.08	1.99	(1.90)	3.75	(3.64)	13.98
MIRO	4.85	0.45	0.05	(3.71)	5.26	(6.37)	11.73	(8.87)	38.49
ZIVO	3.01	(0.96)	0.00	(0.27)	0.00	0.00	5.31	(6.67)	36.36
AVTE	2.44	0.45	0.18	0.60	2.04	(3.35)	5.58	(3.86)	19.11

Bionomics Corporate Management

Elizabeth Doolin	Senior Development	Profile
DCPSA FFPM	Consultant Neuroscience	Profile
Errol Souza	Ex Chairman	Profile
FCA BEC	Financial Controller	Profile
FCIS BCom	Company Secretary	Profile
MD DFAPA	Acting Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC