Cardio Diagnostics Correlations

CDIOW Stock

USD 0.02 0.0008 3.62%

The current 90-days correlation between Cardio Diagnostics and Biocardia is -0.13 (i.e., Good diversification). The correlation of Cardio 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.

Cardio Diagnostics Correlation With Market

Very good diversification

The correlation between Cardio Diagnostics Holdings 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 Cardio Diagnostics Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cardio Stock

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

Moving against Cardio Stock

0.49	PFE	Pfizer Inc	Pair Corr
0.45	MRK	Merck Company	Pair Corr
0.38	AA	Alcoa Corp	Pair Corr
0.38	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.32	DD	Dupont De Nemours	Pair Corr

Related Correlations Analysis

	BCDA	NLSP	ACXP	APVO	APRE	KPRX	TVGN	INAB	HCWB	RNAZ
BCDA		-0.31	-0.05	-0.01	0.34	0.25	0.44	0.19	0.26	0.13	BCDA
NLSP	-0.31		0.36	-0.28	-0.16	-0.39	-0.51	-0.47	-0.27	0.05	NLSP
ACXP	-0.05	0.36		0.36	0.49	0.42	0.22	0.29	0.46	0.83	ACXP
APVO	-0.01	-0.28	0.36		0.61	0.71	0.63	0.5	0.72	0.56	APVO
APRE	0.34	-0.16	0.49	0.61		0.85	0.88	0.71	0.87	0.72	APRE
KPRX	0.25	-0.39	0.42	0.71	0.85		0.88	0.72	0.88	0.66	KPRX
TVGN	0.44	-0.51	0.22	0.63	0.88	0.88		0.73	0.85	0.58	TVGN
INAB	0.19	-0.47	0.29	0.5	0.71	0.72	0.73		0.67	0.6	INAB
HCWB	0.26	-0.27	0.46	0.72	0.87	0.88	0.85	0.67		0.69	HCWB
RNAZ	0.13	0.05	0.83	0.56	0.72	0.66	0.58	0.6	0.69		RNAZ
	BCDA	NLSP	ACXP	APVO	APRE	KPRX	TVGN	INAB	HCWB	RNAZ

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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

TVGN	+ 0.88	APRE
TVGN	+ 0.88	KPRX
HCWB	+ 0.88	KPRX
HCWB	+ 0.87	APRE
KPRX	+ 0.85	APRE
HCWB	+ 0.85	TVGN

High negative correlations

TVGN	- 0.51	NLSP
INAB	- 0.47	NLSP
KPRX	- 0.39	NLSP
NLSP	- 0.31	BCDA
APVO	- 0.28	NLSP
HCWB	- 0.27	NLSP

Risk-Adjusted Indicators

There is a big difference between Cardio Stock performing well and Cardio 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 Cardio 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
BCDA	4.37	(0.51)	0.00	(0.19)	0.00	0.00	7.58	(7.86)	34.88
NLSP	5.65	(2.17)	0.00	2.60	0.00	0.00	11.87	(25.31)	42.64
ACXP	6.01	0.77	0.12	(0.80)	4.98	(7.72)	10.99	(8.15)	99.56
APVO	4.77	(0.08)	0.00	0.03	4.72	(6.72)	8.66	(10.11)	51.90
APRE	2.92	(0.67)	0.00	(0.29)	0.00	0.00	3.94	(8.11)	17.87
KPRX	2.74	(0.44)	0.00	(0.27)	0.00	0.00	5.70	(6.25)	21.80
TVGN	4.58	(0.98)	0.00	(0.44)	0.00	0.00	10.00	(8.89)	25.17
INAB	3.36	(0.21)	0.00	(0.03)	0.00	0.00	9.42	(6.63)	24.48
HCWB	5.87	(0.40)	0.00	(0.57)	0.00	0.00	13.02	(12.34)	89.62
RNAZ	3.67	(0.23)	0.00	0.28	0.00	0.00	6.58	(8.08)	30.84

Cardio Diagnostics Corporate Management

Esq JD	Chief Officer	Profile
Timur Dogan	Chief Officer	Profile
Khullani JD	Vice Strategy	Profile
MBA JD	CFO Director	Profile
Khullani Abdullah	VP Strategy	Profile

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