Novacyt SA Correlations

NVYTF Stock

USD 0.64 0.06 8.57%

The current 90-days correlation between Novacyt SA and Rewalk Robotics is 0.06 (i.e., Significant diversification). The correlation of Novacyt SA 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.

Novacyt SA Correlation With Market

Good diversification

The correlation between Novacyt SA and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Novacyt SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Novacyt SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Novacyt SA 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 Novacyt SA - 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 Novacyt SA to buy it.

Moving together with Novacyt Pink Sheet

0.79	PHG	Koninklijke Philips	Pair Corr
0.76	PPERF	Bank Mandiri Persero	Pair Corr
0.81	PPERY	Bank Mandiri Persero	Pair Corr
0.64	BKRKF	PT Bank Rakyat	Pair Corr
0.85	BKRKY	Bank Rakyat	Pair Corr
0.72	PBCRY	Bank Central Asia	Pair Corr
0.68	PTBRY	Bank Negara Indonesia	Pair Corr
0.71	SHG	Shinhan Financial	Pair Corr

Moving against Novacyt Pink Sheet

0.87	DXCM	DexCom Inc	Pair Corr
0.8	SYK	Stryker	Pair Corr
0.8	BSX	Boston Scientific Corp	Pair Corr
0.67	EW	Edwards Lifesciences Corp	Pair Corr
0.61	ZBH	Zimmer Biomet Holdings Sell-off Trend	Pair Corr
0.49	ABT	Abbott Laboratories Fiscal Year End 22nd of January 2025	Pair Corr
0.92	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.92	SOFI	SoFi Technologies	Pair Corr
0.87	NFLX	Netflix Fiscal Year End 28th of January 2025	Pair Corr
0.87	IONQ	IONQ Inc Trending	Pair Corr
0.86	AVTE	Aerovate Therapeutics	Pair Corr
0.85	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.82	PYPL	PayPal Holdings	Pair Corr
0.82	BFLY	Butterfly Network	Pair Corr
0.8	INMD	InMode	Pair Corr
0.79	LUNR	Intuitive Machines Aggressive Push	Pair Corr
0.76	RUM	Rumble Inc	Pair Corr
0.75	FUND	Sprott Focus Trust	Pair Corr
0.69	BBAI	BigBearai Holdings Aggressive Push	Pair Corr
0.63	APLD	Applied Blockchain	Pair Corr
0.6	GOOG	Alphabet Class C	Pair Corr
0.57	SOUN	SoundHound AI Trending	Pair Corr
0.5	ICAD	icad inc	Pair Corr

Related Correlations Analysis

	AEMD	RWLK	BBLG	TIVC	TLIS	VIVE	CTSO	IINN	BWAY	RPID
AEMD		-0.04	0.13	-0.13	-0.06	-0.19	0.17	-0.18	-0.25	-0.04	AEMD
RWLK	-0.04		-0.37	-0.4	-0.66	-0.59	-0.22	-0.59	0.05	0.01	RWLK
BBLG	0.13	-0.37		0.03	0.65	-0.28	0.85	0.37	-0.57	-0.74	BBLG
TIVC	-0.13	-0.4	0.03		0.48	0.39	-0.11	0.35	0.28	0.45	TIVC
TLIS	-0.06	-0.66	0.65	0.48		0.12	0.55	0.53	-0.21	-0.31	TLIS
VIVE	-0.19	-0.59	-0.28	0.39	0.12		-0.42	0.33	0.36	0.49	VIVE
CTSO	0.17	-0.22	0.85	-0.11	0.55	-0.42		0.17	-0.75	-0.71	CTSO
IINN	-0.18	-0.59	0.37	0.35	0.53	0.33	0.17		0.28	-0.13	IINN
BWAY	-0.25	0.05	-0.57	0.28	-0.21	0.36	-0.75	0.28		0.55	BWAY
RPID	-0.04	0.01	-0.74	0.45	-0.31	0.49	-0.71	-0.13	0.55		RPID
	AEMD	RWLK	BBLG	TIVC	TLIS	VIVE	CTSO	IINN	BWAY	RPID

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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

CTSO	+ 0.85	BBLG
TLIS	+ 0.65	BBLG
CTSO	+ 0.55	TLIS
RPID	+ 0.55	BWAY
IINN	+ 0.53	TLIS
RPID	+ 0.49	VIVE

High negative correlations

BWAY	- 0.75	CTSO
RPID	- 0.74	BBLG
RPID	- 0.71	CTSO
TLIS	- 0.66	RWLK
IINN	- 0.59	RWLK
VIVE	- 0.59	RWLK

Risk-Adjusted Indicators

There is a big difference between Novacyt Pink Sheet performing well and Novacyt SA 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 Novacyt SA'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
AEMD	4.73	0.87	0.09	(0.18)	5.95	(8.59)	7.89	(7.50)	25.97
RWLK	2.18	0.20	0.07	(0.74)	1.97	(3.33)	5.26	(3.33)	21.49
BBLG	5.47	(0.72)	0.00	(12.19)	0.00	0.00	11.86	(9.77)	46.68
TIVC	4.80	(0.19)	0.00	(0.10)	0.00	0.00	12.12	(8.00)	79.31
TLIS	4.85	(1.92)	0.00	(1.56)	0.00	0.00	5.32	(10.69)	68.77
VIVE	9.20	(1.12)	0.00	(0.39)	0.00	0.00	20.00	(27.27)	120.93
CTSO	4.26	(0.58)	0.00	(0.34)	0.00	0.00	9.15	(10.00)	36.66
IINN	2.12	(0.46)	0.00	(0.33)	0.00	0.00	5.34	(5.22)	15.99
BWAY	2.24	0.12	0.04	0.16	2.71	(2.61)	5.42	(4.30)	24.68
RPID	2.71	0.30	0.07	(1.72)	3.23	(3.10)	6.00	(5.60)	24.78

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Our tools can tell you how much better you can do entering a position in Novacyt SA without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Novacyt SA Corporate Management

Steve Gibson	Group Controller	Profile
David Franks	Chief Officer	Profile
Grald Ulrich	Chief Devel	Profile
James McCarthy	Acting CFO	Profile
Bryan Close	Chief Officer	Profile
Wendy Karban	Group Mang	Profile
Paul Oladimeji	Group RD	Profile

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