Basel Medical Correlations

BMGL Stock

2.40 0.40 14.29%

The current 90-days correlation between Basel Medical Group and Levi Strauss Co is -0.19 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Basel Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Basel Medical Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Basel Medical Correlation With Market

Significant diversification

The correlation between Basel Medical Group and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Basel Medical Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Basel Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Basel Medical Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving against Basel Stock

0.54	OM	Outset Medical	Pair Corr
0.5	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.47	DH	Definitive Healthcare	Pair Corr
0.44	VNRX	Volitionrx	Pair Corr
0.43	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.42	FIGS	Figs Inc	Pair Corr
0.38	LH	Laboratory Earnings Call This Week	Pair Corr
0.37	EW	Edwards Lifesciences Corp Earnings Call Tomorrow	Pair Corr
0.54	NAKA	Kindly MD, Symbol Change	Pair Corr
0.44	A	Agilent Technologies	Pair Corr
0.43	VANI	Vivani Medical	Pair Corr
0.42	MDAI	Spectral AI	Pair Corr
0.4	NEUE	NeueHealth	Pair Corr

Related Correlations Analysis

	LEVI	CECO	ASTL	BDC	FIGS	BOOT	TNJIF	GGB
LEVI		0.86	0.82	0.95	0.83	0.79	0.61	0.69	LEVI
CECO	0.86		0.83	0.89	0.83	0.9	0.68	0.75	CECO
ASTL	0.82	0.83		0.87	0.92	0.69	0.75	0.77	ASTL
BDC	0.95	0.89	0.87		0.88	0.8	0.66	0.75	BDC
FIGS	0.83	0.83	0.92	0.88		0.71	0.83	0.78	FIGS
BOOT	0.79	0.9	0.69	0.8	0.71		0.7	0.84	BOOT
TNJIF	0.61	0.68	0.75	0.66	0.83	0.7		0.84	TNJIF
GGB	0.69	0.75	0.77	0.75	0.78	0.84	0.84		GGB
	LEVI	CECO	ASTL	BDC	FIGS	BOOT	TNJIF	GGB

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Risk-Adjusted Indicators

There is a big difference between Basel Stock performing well and Basel Medical 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 Basel Medical'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
LEVI	1.76	0.45	0.25	0.78	1.28	(2.23)	3.66	(2.64)	13.89
CECO	2.36	0.50	0.24	0.43	1.94	(2.86)	5.59	(3.76)	20.71
ASTL	2.59	0.57	0.23	0.68	2.01	(3.34)	6.54	(3.51)	16.40
BDC	1.42	0.28	0.25	0.34	0.94	(1.73)	3.59	(1.95)	8.42
FIGS	2.22	0.39	0.15	0.46	1.95	(2.64)	5.98	(3.79)	18.66
BOOT	2.39	0.61	0.31	0.41	1.85	(2.85)	5.49	(3.60)	20.86
TNJIF	0.17	0.07	0.00	(13.25)	0.00	0.00	0.00	0.00	5.56
GGB	1.77	0.11	0.03	0.30	1.74	(2.22)	4.80	(3.17)	10.58

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Basel Medical Correlations

Basel Medical Correlation With Market

Significant diversification

Moving against Basel Stock

Related Correlations Analysis

Risk-Adjusted Indicators

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