Beyond Air Correlations
| XAIR Stock | USD 3.26 0.02 0.62% |
The current 90-days correlation between Beyond Air and PAVmed Inc is -0.08 (i.e., Good diversification). The correlation of Beyond Air 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.
Beyond Air Correlation With Market
Good diversification
The correlation between Beyond Air and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beyond Air and DJI in the same portfolio, assuming nothing else is changed.
Moving against Beyond Stock
| 0.69 | EW | Edwards Lifesciences Corp Earnings Call This Week | PairCorr |
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| 0.5 | DH | Definitive Healthcare | PairCorr |
| 0.5 | OM | Outset Medical | PairCorr |
| 0.46 | VEEV | Veeva Systems Class | PairCorr |
| 0.45 | LH | Laboratory Earnings Call This Week | PairCorr |
| 0.34 | DOCS | Doximity | PairCorr |
| 0.32 | MD | Mednax Inc | PairCorr |
| 0.31 | VNRX | Volitionrx | PairCorr |
| 0.52 | FIGS | Figs Inc | PairCorr |
| 0.43 | VVOS | Vivos Therapeutics | PairCorr |
| 0.43 | ENSG | Ensign Group Earnings Call This Week | PairCorr |
| 0.41 | MDAI | Spectral AI | PairCorr |
| 0.32 | MBOT | Microbot Medical | PairCorr |
| 0.57 | NEUE | NeueHealth | PairCorr |
| 0.44 | MHUA | Meihua International | PairCorr |
| 0.41 | MGRM | Monogram Orthopaedics Trending | PairCorr |
| 0.4 | NAKA | Kindly MD, Symbol Change | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Beyond Stock performing well and Beyond Air 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 Beyond Air'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PAVM | 3.12 | (0.36) | 0.00 | (0.15) | 0.00 | 6.06 | 27.59 | |||
| TELA | 4.33 | 1.10 | 0.30 | 0.96 | 3.16 | 11.56 | 27.85 | |||
| MXCT | 2.79 | (0.50) | 0.00 | (0.25) | 0.00 | 5.96 | 18.72 | |||
| CLPT | 3.03 | (0.24) | (0.03) | 0.00 | 3.88 | 7.22 | 20.31 | |||
| PDSB | 4.22 | (0.03) | 0.02 | 0.12 | 4.80 | 8.33 | 21.14 | |||
| XFOR | 4.84 | (2.12) | 0.00 | (1.93) | 0.00 | 9.35 | 30.62 | |||
| TARA | 3.22 | (0.55) | 0.00 | (0.25) | 0.00 | 7.05 | 25.12 |
Beyond Air Corporate Management
| Duncan Fatkin | Chief Commercial Officer | Profile | |
| Giora MD | Chief Officer | Profile | |
| David Webster | Chief Officer | Profile | |
| Michael Gaul | Chief Officer | Profile | |
| Jeff MD | Chief Officer | Profile |