Avita Medical Correlations

RCEL Stock  USD 10.74  0.16  1.51%   
The current 90-days correlation between Avita Medical and Genel Energy plc is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Avita Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Avita Medical moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Avita Medical Correlation With Market

Very weak diversification

The correlation between Avita Medical and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avita Medical and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Avita Medical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.
For more information on how to buy Avita Stock please use our How to buy in Avita Stock guide.

Moving together with Avita Stock

  0.72DSGN Design TherapeuticsPairCorr
  0.67ERAS Erasca IncPairCorr
  0.64GILD Gilead SciencesPairCorr
  0.69AMGN Amgen IncPairCorr
  0.64ELMD ElectromedPairCorr
  0.61BVS BioventusPairCorr
  0.67HSIC Henry ScheinPairCorr
  0.76INZY Inozyme PharmaPairCorr

Moving against Avita Stock

  0.55VTAK Catheter PrecisionPairCorr
  0.33XAIR Beyond AirPairCorr
  0.31EW Edwards Lifesciences CorpPairCorr
  0.62TPDDF Talon EnergyPairCorr
  0.6IMHC Imperalis Holding CorpPairCorr
  0.59GSTX Graphene Solar TechnPairCorr
  0.53CHHE China Health IndustriesPairCorr
  0.36EPGG Empire Global GamingPairCorr

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   
WEXTLK
INFNWEX
LITETLK
INFNTLK
LITEWEX
INFNLITE
  
High negative correlations   
INFNAVNW
WEXAVNW
EATGEGYF
MRKBBDO
EATAVNW
AVNWTLK

Risk-Adjusted Indicators

There is a big difference between Avita Stock performing well and Avita Medical 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 Avita Medical'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TLK  1.11  0.12  0.05  0.27  1.69 
 2.61 
 11.31 
GEGYF  0.88 (0.14) 0.00  1.22  0.00 
 0.00 
 43.02 
AVNW  1.93 (0.55) 0.00 (0.29) 0.00 
 3.51 
 18.07 
BBDO  1.90  0.16  0.04  0.95  1.81 
 5.07 
 13.64 
WEX  1.25  0.10  0.09  0.18  1.42 
 3.00 
 8.59 
MRK  1.10 (0.22) 0.00  2.78  0.00 
 2.01 
 13.12 
MRC  1.72 (0.11)(0.03) 0.03  2.37 
 3.28 
 9.98 
EAT  2.33 (0.12)(0.01) 0.05  3.14 
 4.89 
 17.32 
LITE  2.80  0.15  0.11  0.16  3.23 
 6.22 
 22.77 
INFN  1.27  0.40  0.34  0.86  0.60 
 2.90 
 17.82 

Avita Medical Corporate Management

Rob HallSenior ResourcesProfile
Michael MBAChief OfficerProfile
Jessica EkebergInvestor ExecutiveProfile
David OTooleChief OfficerProfile
Kathy McGeeChief OfficerProfile
Terry BromleySenior SalesProfile