Burning Rock Correlations

BNR
 Stock
  

USD 3.49  0.16  4.38%   

The correlation of Burning Rock 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 Burning Rock moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Burning Rock Biotech 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.
Continue to Trending Equities.
  
The ability to find closely correlated positions to Burning Rock could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Burning Rock 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 Burning Rock - 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 Burning Rock Biotech to buy it.

Moving against Burning Rock

0.62COGlobal Cord BloodPairCorr
0.52BMRABiomerica Financial Report 26th of August 2022 PairCorr
0.52BVSBioventus IncPairCorr
0.51AGHCAeon Global HealthPairCorr

Related Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
TMUSIQV
AAPLIQV
CVXXOM
IQVA
AAPLA
TMUSA
  
High negative correlations   
INTCBEKE
CVXBEKE
INTCTMUS
INTCIQV
JNJAAPL
CVXTMUS

Burning Rock Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Burning Rock stock performing well and Burning Rock 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 Burning Rock's 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
A 1.82  0.19  0.10  0.21  1.88  0.09 (2.09)  4.22 (3.15)  8.98 
IQV 1.58  0.21  0.11  0.21  1.67  0.10 (1.62)  4.74 (2.83)  10.43 
AAPL 1.79  0.10  0.05  0.11  2.25  0.06 (1.87)  3.42 (3.86)  8.84 
TMUS 1.12  0.21  0.12  0.29  1.41  0.13 (1.12)  2.66 (2.57)  7.57 
BEKE 4.03  0.49  0.12  0.45  3.85  0.1 (4.81)  7.93 (6.24)  26.70 
XOM 1.94  0.16  0.05  0.23  2.59  0.06 (1.85)  3.33 (3.96)  10.43 
JNJ 0.82 (0.11)  0.00 (0.19)  0.00 (0.12)  0.00  1.75 (2.01)  5.07 
INTC 1.74 (0.31)  0.00 (0.22)  0.00 (0.13)  0.00  3.11 (3.61)  12.47 
CVX 1.77 (0.01) (0.01)  0.04  2.34 (0.0068) (1.71)  3.06 (4.35)  11.62 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Burning Rock 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.

Did you try this?

Run Analyst Recommendations Now

   

Analyst Recommendations

Analyst recommendations and target price estimates broken down by several categories
All  Next Launch Module

Burning Rock Corporate Management

Elected by the shareholders, the Burning Rock's board of directors comprises two types of representatives: Burning Rock inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Burning. The board's role is to monitor Burning Rock's management team and ensure that shareholders' interests are well served. Burning Rock's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Burning Rock's outside directors are responsible for providing unbiased perspectives on the board's policies.
Edgar Fluri - Member of the Supervisory BoardProfile
Andreas Rittstieg - Member of the Supervisory BoardProfile
Karsten Beckmann - Member of the Management BoardProfile
Henri Nejade - Member of the Management BoardProfile

Invested in Burning Rock Biotech?

You need to understand the risk of investing before taking a position in Burning Rock. The danger of trading Burning Rock Biotech 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 Burning Rock 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 Burning Rock. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Burning Rock Biotech 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 Burning Rock Biotech information on this page should be used as a complementary analysis to other Burning Rock's 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.

Complementary Tools for Burning Stock analysis

When running Burning Rock Biotech price analysis, check to measure Burning Rock's 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 Burning Rock is operating at the current time. Most of Burning Rock's value examination focuses on studying past and present price action to predict the probability of Burning Rock's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Burning Rock's price. Additionally, you may evaluate how the addition of Burning Rock to your portfolios can decrease your overall portfolio volatility.
Insider Screener
Find insiders across different sectors to evaluate their impact on performance
Go
Fund Screener
Find actively-traded funds from around the world traded on over 30 global exchanges
Go
Global Markets Map
Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes
Go
Instant Ratings
Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance
Go
Crypto Correlations
Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins
Go
Content Syndication
Quickly integrate customizable finance content to your own investment portal
Go
Portfolio Manager
State of the art Portfolio Manager to monitor and improve performance of your invested capital
Go
Is Burning Rock's 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 Burning Rock. If investors know Burning 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 Burning Rock listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Market Capitalization
376.6 M
Quarterly Revenue Growth YOY
0.27
Return On Assets
-0.23
Return On Equity
-0.44
The market value of Burning Rock Biotech is measured differently than its book value, which is the value of Burning that is recorded on the company's balance sheet. Investors also form their own opinion of Burning Rock's value that differs from its market value or its book value, called intrinsic value, which is Burning Rock's 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 Burning Rock's market value can be influenced by many factors that don't directly affect Burning Rock's 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 Burning Rock's value and its price as these two are different measures arrived at by different means. Investors typically determine Burning Rock value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Burning Rock's 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.