Bionano Genomics Correlations

BNGO Stock

USD 1.93 0.02 1.05%

The current 90-days correlation between Bionano Genomics and Mainz Biomed BV is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bionano Genomics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bionano Genomics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Bionano Genomics Correlation With Market

Good diversification

The correlation between Bionano Genomics and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bionano Genomics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Bionano Stock

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

To learn how to invest in Bionano Stock, please use our How to Invest in Bionano Genomics guide.

Moving together with Bionano Stock

0.84	MMSI	Merit Medical Systems	Pair Corr
0.68	GOOD	Gladstone Commercial	Pair Corr

Moving against Bionano Stock

0.82	VIVC	Vivic Corp	Pair Corr
0.72	VRT	Vertiv Holdings	Pair Corr
0.65	MRVI	Maravai Lifesciences	Pair Corr
0.64	UNFI	United Natural Foods	Pair Corr
0.6	DWTX	Dogwood Therapeutics,	Pair Corr
0.57	MEDP	Medpace Holdings	Pair Corr
0.57	QCOM	Qualcomm Incorporated	Pair Corr
0.5	TERN	Terns Pharmaceuticals	Pair Corr
0.45	TEM	Tempus AI, Class	Pair Corr
0.34	MRLWF	Marlowe Plc	Pair Corr

Related Correlations Analysis

	MYNZ	GBS	AIM	LUCY	MSPR	NDRA	BFRI	ALZN	BCLI	PLRZ
MYNZ		0.0	0.58	0.44	0.33	-0.02	0.05	0.66	0.27	0.43	MYNZ
GBS	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	GBS
AIM	0.58	0.0		0.41	0.5	0.33	0.4	0.77	0.13	0.73	AIM
LUCY	0.44	0.0	0.41		0.51	-0.01	0.32	0.45	-0.1	0.44	LUCY
MSPR	0.33	0.0	0.5	0.51		-0.17	0.21	0.31	-0.23	0.5	MSPR
NDRA	-0.02	0.0	0.33	-0.01	-0.17		0.57	0.14	0.04	0.54	NDRA
BFRI	0.05	0.0	0.4	0.32	0.21	0.57		0.29	-0.08	0.56	BFRI
ALZN	0.66	0.0	0.77	0.45	0.31	0.14	0.29		0.24	0.55	ALZN
BCLI	0.27	0.0	0.13	-0.1	-0.23	0.04	-0.08	0.24		0.15	BCLI
PLRZ	0.43	0.0	0.73	0.44	0.5	0.54	0.56	0.55	0.15		PLRZ
	MYNZ	GBS	AIM	LUCY	MSPR	NDRA	BFRI	ALZN	BCLI	PLRZ

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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

ALZN	+ 0.77	AIM
PLRZ	+ 0.73	AIM
ALZN	+ 0.66	MYNZ
AIM	+ 0.58	MYNZ
BFRI	+ 0.57	NDRA
PLRZ	+ 0.56	BFRI

High negative correlations

BCLI	- 0.23	MSPR
NDRA	- 0.17	MSPR
BCLI	- 0.1	LUCY
BCLI	- 0.08	BFRI
NDRA	- 0.02	MYNZ
NDRA	- 0.01	LUCY

Risk-Adjusted Indicators

There is a big difference between Bionano Stock performing well and Bionano Genomics 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 Bionano Genomics' 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
MYNZ	3.40	(0.41)	0.00	(0.09)	0.00	0.00	5.67	(5.81)	24.73
GBS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AIM	3.79	(1.41)	0.00	(0.47)	0.00	0.00	6.36	(8.09)	56.25
LUCY	2.24	(0.22)	0.00	(0.15)	0.00	0.00	5.43	(5.37)	17.33
MSPR	6.63	(2.74)	0.00	1.46	0.00	0.00	12.64	(19.78)	40.90
NDRA	4.16	(0.47)	0.00	(0.08)	0.00	0.00	8.00	(12.43)	39.34
BFRI	2.82	(0.06)	(0.01)	0.03	3.30	(3.27)	6.17	(5.62)	19.91
ALZN	2.74	(0.40)	0.00	(0.09)	0.00	0.00	5.86	(6.42)	19.39
BCLI	3.31	0.02	0.01	0.09	4.60	(3.56)	5.17	(6.58)	20.29
PLRZ	4.00	(0.48)	0.00	(0.08)	0.00	0.00	9.43	(8.11)	32.85

Bionano Genomics Corporate Management

Jonathan JD	General Secretary	Profile
Donna Polizio	Global Access	Profile
Klint Rose	Head Development	Profile
Helene Klein	Chief Officer	Profile
Sheila MBA	Vice Marketing	Profile
Christopher Stewart	Chief Officer	Profile
Jonathan Dixon	Global Legal	Profile

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