Pure Biologics Correlations

PUR Stock   13.56  0.44  3.14%   
The current 90-days correlation between Pure Biologics Splka and Banco Santander SA is -0.12 (i.e., Good diversification). The correlation of Pure Biologics 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.

Pure Biologics Correlation With Market

Good diversification

The correlation between Pure Biologics Splka and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pure Biologics Splka and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Pure Biologics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pure Biologics 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 Pure Biologics - 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 Pure Biologics Splka to buy it.

Moving together with Pure Stock

  0.69PKN Polski Koncern NaftowyPairCorr
  0.63ALE Allegroeu SAPairCorr

Moving against Pure Stock

  0.66SAN Banco Santander SAPairCorr
  0.66DNP Dino Polska SAPairCorr
  0.62CEZ CEZ asPairCorr
  0.38UCG UniCredit SpAPairCorr

Related Correlations Analysis

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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   
PCOKGH
PEOSPL
KGHALE
DNPCEZ
ALEPKN
PCOPKN
  
High negative correlations   
ALEDNP
PKNCEZ
ALECEZ
PCOCEZ
DNPPKN
KGHCEZ

Risk-Adjusted Indicators

There is a big difference between Pure Stock performing well and Pure Biologics 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 Pure Biologics' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SAN  1.12  0.20  0.04 (0.37) 1.60 
 2.22 
 6.88 
UCG  1.35  0.13  0.00 (0.17) 1.75 
 3.41 
 9.81 
CEZ  1.19  0.15  0.06  0.59  1.30 
 2.82 
 11.82 
PKN  1.30 (0.17) 0.00  0.61  0.00 
 2.39 
 10.33 
DNP  1.91  0.39  0.18  1.09  1.53 
 5.03 
 16.97 
ALE  1.59 (0.34) 0.00 (0.71) 0.00 
 2.66 
 15.02 
SPL  1.37  0.06 (0.02)(4.39) 1.87 
 3.71 
 11.50 
KGH  1.63  0.03  0.00  0.05  0.00 
 3.84 
 14.11 
PCO  1.74  0.03 (0.01) 0.17  2.12 
 3.43 
 14.00 
PEO  1.57 (0.01)(0.05)(0.13) 1.89 
 3.31 
 11.43 

Pure Biologics 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 Pure Biologics stock to make a market-neutral strategy. Peer analysis of Pure Biologics could also be used in its relative valuation, which is a method of valuing Pure Biologics by comparing valuation metrics with similar companies.
 Risk & Return  Correlation