Combigene Correlations

COMBI Stock

SEK 2.34 0.06 2.50%

The current 90-days correlation between Combigene AB and Nanologica AB is -0.15 (i.e., Good diversification). The correlation of Combigene 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.

Combigene Correlation With Market

Significant diversification

The correlation between Combigene AB and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Combigene AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Combigene Stock

0.46	XSPRAY	XSpray Pharma AB	Pair Corr
0.4	EGTX	Egetis Therapeutics	Pair Corr
0.33	CAMX	Camurus AB	Pair Corr
0.31	NANOFS	Nanoform Finland Plc	Pair Corr

Related Correlations Analysis

	SPRINT	BIOWKS	NICA	2CUREX	KAN	BINV	ONCO	ACARIX
SPRINT		-0.58	-0.31	-0.63	0.07	-0.6	0.15	0.17	SPRINT
BIOWKS	-0.58		0.17	0.69	0.22	0.82	0.22	0.36	BIOWKS
NICA	-0.31	0.17		0.17	0.07	0.34	0.33	-0.16	NICA
2CUREX	-0.63	0.69	0.17		0.37	0.78	0.06	0.31	2CUREX
KAN	0.07	0.22	0.07	0.37		0.31	0.11	0.6	KAN
BINV	-0.6	0.82	0.34	0.78	0.31		0.18	0.21	BINV
ONCO	0.15	0.22	0.33	0.06	0.11	0.18		0.58	ONCO
ACARIX	0.17	0.36	-0.16	0.31	0.6	0.21	0.58		ACARIX
	SPRINT	BIOWKS	NICA	2CUREX	KAN	BINV	ONCO	ACARIX

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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

BINV	+ 0.82	BIOWKS
BINV	+ 0.78	2CUREX
2CUREX	+ 0.69	BIOWKS
ACARIX	+ 0.6	KAN
ACARIX	+ 0.58	ONCO
KAN	+ 0.37	2CUREX

High negative correlations

2CUREX	- 0.63	SPRINT
BINV	- 0.6	SPRINT
BIOWKS	- 0.58	SPRINT
NICA	- 0.31	SPRINT
ACARIX	- 0.16	NICA

Risk-Adjusted Indicators

There is a big difference between Combigene Stock performing well and Combigene 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 Combigene'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
SPRINT	3.89	(0.08)	0.00	0.42	0.00	0.00	7.58	(10.64)	28.27
BIOWKS	3.15	0.45	0.10	0.91	3.04	(4.41)	8.97	(5.85)	21.02
NICA	3.59	0.76	0.17	1.54	3.25	(4.80)	9.57	(6.45)	37.32
2CUREX	16.44	8.77	0.54	(0.91)	10.80	(23.54)	33.05	(13.56)	396.10
KAN	3.45	0.66	0.10	(0.55)	2.99	(5.07)	8.65	(5.26)	35.42
BINV	2.78	0.43	0.12	0.48	3.42	(3.15)	6.05	(4.22)	23.77
ONCO	4.88	1.46	0.23	10.61	4.35	(6.40)	14.19	(6.21)	64.45
ACARIX	3.21	0.86	0.16	1.35	2.49	(6.14)	10.26	(4.76)	21.26

Be your own money manager

Our tools can tell you how much better you can do entering a position in Combigene 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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Combigene Corporate Management

Elected by the shareholders, the Combigene's board of directors comprises two types of representatives: Combigene inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Combigene. The board's role is to monitor Combigene's management team and ensure that shareholders' interests are well served. Combigene's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Combigene's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jan Nilsson	Chief Officer	Profile
Louise Aspenberg	Chief Officer	Profile
Associate Woldbye	Scientific Founder	Profile
Pr Kokaia	Scientific Founder	Profile
Karin Agerman	Chief Officer	Profile
Peter Ekolind	Chief Officer	Profile

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