Cytek Biosciences Correlations

Cytek Biosciences Correlation With Market

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cytek Biosciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry. For information on how to trade Cytek Stock refer to our How to Trade Cytek Stock guide.

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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    RPID + 0.82 SGHT RXST + 0.57 NPCE DSGN + 0.47 CVRX RXST + 0.35 MXCT DSGN + 0.31 MXCT CVRX + 0.26 MXCT

High negative correlations    RPID - 0.86 MXCT SGHT - 0.63 MXCT RXST - 0.53 AKYA AKYA - 0.5 NPCE CVRX - 0.29 SGHT RXST - 0.27 CVRX

Risk-Adjusted Indicators

There is a big difference between Cytek Stock performing well and Cytek Biosciences 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 Cytek Biosciences' 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.