Bluejay Diagnostics Correlations

BJDX Stock

USD 0.67 0.01 1.47%

The current 90-days correlation between Bluejay Diagnostics and Tivic Health Systems is -0.01 (i.e., Good diversification). The correlation of Bluejay Diagnostics 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.

Bluejay Diagnostics Correlation With Market

Very good diversification

The correlation between Bluejay Diagnostics and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bluejay Diagnostics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Bluejay Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bluejay Diagnostics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

For more information on how to buy Bluejay Stock please use our How to Invest in Bluejay Diagnostics guide.

Moving together with Bluejay Stock

0.72	OM	Outset Medical	Pair Corr
0.87	688677	Qingdao NovelBeam	Pair Corr
0.67	VERO	Venus Concept	Pair Corr
0.61	688289	Sansure Biotech	Pair Corr
0.69	IPD	Impedimed	Pair Corr
0.74	VVOS	Vivos Therapeutics	Pair Corr
0.73	OTC	Ocumetics Technology Corp	Pair Corr
0.71	ELAB	Elevai Labs, Common	Pair Corr
0.69	ENOV	Enovis Corp	Pair Corr

Moving against Bluejay Stock

0.79	EW	Edwards Lifesciences Corp	Pair Corr
0.72	688656	HOB Biotech Group	Pair Corr
0.69	SPEC	Inspecs Group plc	Pair Corr
0.7	ELMD	Electromed	Pair Corr
0.57	BLCO	Bausch Lomb Corp	Pair Corr
0.44	EDAP	EDAP TMS SA	Pair Corr
0.77	ESTA	Establishment Labs	Pair Corr
0.74	FIGS	Figs Inc	Pair Corr
0.72	ALC	Alcon AG	Pair Corr
0.57	BB1	Blinklab	Pair Corr
0.53	601089	Beijing Winsunny Pha	Pair Corr
0.4	FEMY	Femasys	Pair Corr

Related Correlations Analysis

	TIVC	VTAK	WINT	UPC	BCTXZ	MLEC	MSPR	ELAB	NKGN	WGS
TIVC		0.52	0.64	0.65	-0.44	0.8	0.67	0.35	-0.23	-0.69	TIVC
VTAK	0.52		0.65	0.58	-0.11	0.14	0.61	0.55	-0.21	0.0	VTAK
WINT	0.64	0.65		0.74	-0.21	0.35	0.82	0.73	-0.54	-0.41	WINT
UPC	0.65	0.58	0.74		-0.48	0.4	0.72	0.41	-0.37	-0.46	UPC
BCTXZ	-0.44	-0.11	-0.21	-0.48		-0.53	-0.39	0.01	-0.06	0.39	BCTXZ
MLEC	0.8	0.14	0.35	0.4	-0.53		0.48	0.19	-0.12	-0.71	MLEC
MSPR	0.67	0.61	0.82	0.72	-0.39	0.48		0.69	-0.43	-0.52	MSPR
ELAB	0.35	0.55	0.73	0.41	0.01	0.19	0.69		-0.53	-0.1	ELAB
NKGN	-0.23	-0.21	-0.54	-0.37	-0.06	-0.12	-0.43	-0.53		0.09	NKGN
WGS	-0.69	0.0	-0.41	-0.46	0.39	-0.71	-0.52	-0.1	0.09		WGS
	TIVC	VTAK	WINT	UPC	BCTXZ	MLEC	MSPR	ELAB	NKGN	WGS

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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

MSPR	+ 0.82	WINT
MLEC	+ 0.8	TIVC
UPC	+ 0.74	WINT
ELAB	+ 0.73	WINT
MSPR	+ 0.72	UPC
ELAB	+ 0.69	MSPR

High negative correlations

WGS	- 0.71	MLEC
WGS	- 0.69	TIVC
NKGN	- 0.54	WINT
NKGN	- 0.53	ELAB
MLEC	- 0.53	BCTXZ
WGS	- 0.52	MSPR

Risk-Adjusted Indicators

There is a big difference between Bluejay Stock performing well and Bluejay Diagnostics 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 Bluejay Diagnostics' 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
TIVC	4.38	(0.89)	0.00	(0.33)	0.00	0.00	10.43	(12.23)	46.76
VTAK	4.33	(0.85)	0.00	(0.25)	0.00	0.00	11.89	(10.00)	35.41
WINT	8.59	(0.49)	0.00	0.45	0.00	0.00	20.00	(20.00)	58.33
UPC	6.72	0.60	0.08	0.65	6.78	(9.33)	15.01	(10.07)	106.66
BCTXZ	7.86	0.76	0.07	0.34	9.11	(10.58)	17.86	(15.91)	50.35
MLEC	4.67	(2.24)	0.00	(2.89)	0.00	0.00	6.67	(10.81)	44.59
MSPR	16.70	0.35	0.01	(0.07)	17.23	(30.64)	45.45	(31.25)	200.36
ELAB	5.44	(1.74)	0.00	(0.58)	0.00	0.00	5.22	(14.03)	103.11
NKGN	31.78	14.52	0.33	2.26	16.75	(83.44)	100.00	(21.28)	445.00
WGS	2.41	0.21	0.07	0.30	2.73	(2.56)	5.29	(4.26)	15.82

Bluejay Diagnostics Corporate Management

Kenneth CPA	Chief Officer	Profile
Mr MD	Chief Advisor	Profile
Kevin Vance	Chief Officer	Profile
Jason Cook	Chief Officer	Profile
Mark MD	Chief Advisor	Profile
Les DeLuca	Vice Operations	Profile
Eryn Graham	Marketing Manager	Profile

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