Bio Works Correlations
| BIOWKS Stock | SEK 2.94 0.06 2.00% |
The correlation of Bio Works 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bio Works moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bio Works Technologies AB moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between Bio Works Technologies AB and NYA is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bio Works Technologies AB and NYA in the same portfolio, assuming nothing else is changed.
Bio |
The ability to find closely correlated positions to Bio Works could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bio Works 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 Bio Works - 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 Bio Works Technologies AB to buy it.
Moving together with Bio Stock
Moving against Bio Stock
| 0.77 | PIERCE | Pierce Group AB | PairCorr |
| 0.76 | TEL2-A | Tele2 AB | PairCorr |
| 0.72 | BINV | BioInvent International Earnings Call This Week | PairCorr |
| 0.7 | EPRO-B | Electrolux Professional | PairCorr |
| 0.67 | THULE | Thule Group AB | PairCorr |
| 0.63 | KAR | Karnov Group AB | PairCorr |
| 0.54 | EGTX | Egetis Therapeutics Earnings Call This Week | PairCorr |
| 0.54 | BEIJ-B | Beijer Ref AB | PairCorr |
| 0.53 | XSPRAY | XSpray Pharma AB | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Bio Stock performing well and Bio Works 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 Bio Works' 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.Be your own money manager
Our tools can tell you how much better you can do entering a position in Bio Works 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.Did you try this?
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| All Next | Launch Module |
Bio Works Corporate Management
Elected by the shareholders, the Bio Works' board of directors comprises two types of representatives: Bio Works inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Bio. The board's role is to monitor Bio Works' management team and ensure that shareholders' interests are well served. Bio Works' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Bio Works' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Sara Ekvall | Director Culture | Profile | |
| Anna Lindqvist | Chief Officer | Profile | |
| Jonathan Royce | Chief Officer | Profile | |
| David Nelander | Chief Officer | Profile | |
| Helena Pahlm | Director Quality | Profile | |
| Jan Berglf | CoFounder Advisor | Profile | |
| Karsten Fjrstedt | Chief Officer | Profile |
Already Invested in Bio Works Technologies AB?
The danger of trading Bio Works Technologies AB is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Bio Works is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Bio Works. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Bio Works Technologies is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bio Works Technologies AB. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in industry. You can also try the Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
Complementary Tools for Bio Stock analysis
When running Bio Works' price analysis, check to measure Bio Works' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Bio Works is operating at the current time. Most of Bio Works' value examination focuses on studying past and present price action to predict the probability of Bio Works' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bio Works' price. Additionally, you may evaluate how the addition of Bio Works to your portfolios can decrease your overall portfolio volatility.
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