LumiraDx Correlations
| LMDXDelisted Stock | USD 0.42 0.02 4.55% |
The current 90-days correlation between LumiraDx and Burning Rock Biotech is 0.09 (i.e., Significant diversification). The correlation of LumiraDx 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.
LumiraDx Correlation With Market
Average diversification
The correlation between LumiraDx and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LumiraDx and DJI in the same portfolio, assuming nothing else is changed.
LumiraDx |
Moving together with LumiraDx Stock
Moving against LumiraDx Stock
| 0.76 | SSNLF | Samsung Electronics | PairCorr |
| 0.68 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.68 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.68 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.64 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.57 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.56 | HPQ | HP Inc | PairCorr |
| 0.54 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.54 | XOM | Exxon Mobil Corp Sell-off Trend | PairCorr |
| 0.5 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.47 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.44 | DIS | Walt Disney Aggressive Push | 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
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Risk-Adjusted Indicators
There is a big difference between LumiraDx Stock performing well and LumiraDx 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 LumiraDx'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FONR | 1.49 | (0.15) | 0.00 | (0.10) | 0.00 | 2.15 | 10.60 | |||
| BNR | 5.38 | (0.03) | 0.01 | 0.10 | 7.90 | 15.95 | 46.14 | |||
| SERA | 3.84 | (0.36) | 0.00 | (0.01) | 0.00 | 9.55 | 27.67 | |||
| OLK | 0.63 | 0.13 | 0.07 | 0.50 | 0.48 | 1.58 | 4.37 | |||
| GTH | 1.87 | 0.03 | (0.03) | (0.30) | 2.49 | 3.45 | 14.43 | |||
| XGN | 3.75 | 0.37 | 0.10 | 0.48 | 3.42 | 9.62 | 25.65 | |||
| SHC | 1.77 | (0.41) | 0.00 | (0.18) | 0.00 | 3.74 | 13.40 | |||
| PMD | 0.46 | 0.02 | (0.11) | 0.33 | 0.51 | 0.87 | 3.46 | |||
| DRIO | 4.00 | (0.35) | 0.00 | (0.07) | 0.00 | 8.99 | 27.55 |
LumiraDx 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 LumiraDx stock to make a market-neutral strategy. Peer analysis of LumiraDx could also be used in its relative valuation, which is a method of valuing LumiraDx by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
LumiraDx Corporate Management
| Colleen McMillen | VP Communications | Profile | |
| Jerome McAleer | Chief CoFounder | Profile | |
| David DMS | Chief Officer | Profile | |
| Dorian CPA | CFO Operations | Profile | |
| Nigel Lindner | Chief Officer | Profile | |
| David Scott | CTO CoFounder | Profile | |
| Peter Scheu | Pres Operations | Profile |
Still Interested in LumiraDx?
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