Berkeley Lights Correlations

BLI
 Stock
  

USD 4.19  0.12  2.78%   

The correlation of Berkeley Lights is a statistical measure of how it moves in relation to other equities. 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 Berkeley Lights moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Berkeley Lights 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.
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The ability to find closely correlated positions to Berkeley Lights could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Berkeley Lights 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 Berkeley Lights - 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 Berkeley Lights to buy it.

Moving together with Berkeley Lights

0.7ABUSArbutus BiopharmaPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
ACETABOS
BBTJX
BBSCHW
TJXSCHW
ABOSABCL
BBGOOG
  
High negative correlations   
NIOBFACET
NIOBFABCL
NIOBFABOS
NIOBFABEO
NIOBFABIO
SCHWABEO

Berkeley Lights Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Berkeley Stock performing well and Berkeley Lights company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Berkeley Lights' multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
ABCL 3.11  0.94  0.29  2.81  2.50  0.21 (3.95)  8.02 (5.05)  25.91 
ABEO 4.82  0.31  0.05  0.41  5.27  0.0472 (5.20)  11.11 (8.02)  32.82 
ABIO 1.45  0.02 (0.02)  0.13  1.64 (0.0146) (1.66)  3.04 (2.77)  9.17 
ABOS 3.79  0.79  0.16  0.64  4.23  0.15 (4.29)  9.33 (7.63)  31.87 
ACET 3.78  0.24  0.06  0.21  4.50  0.06 (3.94)  8.22 (7.97)  24.84 
SCHW 1.81  0.12  0.08  0.17  1.65  0.07 (2.02)  3.98 (2.95)  10.01 
GOOG 1.90 (0.05)  0.00  0.05  2.28 (0.0035) (1.92)  4.29 (3.68)  11.01 
NIOBF 3.34  0.22  0.04  0.46  3.39  0.0307 (4.51)  6.25 (6.25)  47.08 
TJX 1.66  0.24  0.11  0.40  1.75  0.1 (1.85)  4.22 (2.78)  12.88 
BB 2.96  0.12  0.05  0.14  3.74  0.06 (2.79)  5.64 (5.55)  16.15 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Berkeley Lights without increasing your portfolio risk or giving up 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.

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Invested in Berkeley Lights?

You need to understand the risk of investing before taking a position in Berkeley Lights. The danger of trading Berkeley Lights 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 Berkeley Lights 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 Berkeley Lights. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Berkeley Lights 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.
Continue to Trending Equities. Note that the Berkeley Lights information on this page should be used as a complementary analysis to other Berkeley Lights' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.

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When running Berkeley Lights price analysis, check to measure Berkeley Lights' 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 Berkeley Lights is operating at the current time. Most of Berkeley Lights' value examination focuses on studying past and present price action to predict the probability of Berkeley Lights' future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Berkeley Lights' price. Additionally, you may evaluate how the addition of Berkeley Lights to your portfolios can decrease your overall portfolio volatility.
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Is Berkeley Lights' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Berkeley Lights. If investors know Berkeley will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Berkeley Lights listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Market Capitalization
298.4 M
Quarterly Revenue Growth YOY
-0.005
Return On Assets
-0.19
Return On Equity
-0.42
The market value of Berkeley Lights is measured differently than its book value, which is the value of Berkeley that is recorded on the company's balance sheet. Investors also form their own opinion of Berkeley Lights' value that differs from its market value or its book value, called intrinsic value, which is Berkeley Lights' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Berkeley Lights' market value can be influenced by many factors that don't directly affect Berkeley Lights' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Berkeley Lights' value and its price as these two are different measures arrived at by different means. Investors typically determine Berkeley Lights value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Berkeley Lights' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.