Fulgent Genetics Correlations
| FLGT Stock | USD 20.74 0.10 0.48% |
The correlation of Fulgent Genetics is a statistical measure of how it moves in relation to other instruments. 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 Fulgent Genetics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fulgent Genetics 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.
Very weak diversification
The correlation between Fulgent Genetics and NYA is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fulgent Genetics and NYA in the same portfolio, assuming nothing else is changed.
Fulgent |
The ability to find closely correlated positions to Fulgent Genetics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fulgent Genetics 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 Fulgent Genetics - 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 Fulgent Genetics to buy it.
Moving together with Fulgent Stock
| 0.65 | JNJ | Johnson Johnson Aggressive Push | PairCorr |
| 0.8 | MCD | McDonalds Earnings Call This Week | PairCorr |
Moving against Fulgent Stock
| 0.94 | XOM | Exxon Mobil Corp Earnings Call This Week | PairCorr |
| 0.92 | CAT | Caterpillar Earnings Call Tomorrow | PairCorr |
| 0.87 | BAC | Bank of America Sell-off Trend | PairCorr |
| 0.82 | WMT | Walmart Financial Report 16th of May 2024 | PairCorr |
| 0.81 | CVX | Chevron Corp Earnings Call This Week | PairCorr |
| 0.8 | MMM | 3M Company Earnings Call This Week | PairCorr |
| 0.8 | JPM | JPMorgan Chase Financial Report 12th of July 2024 | PairCorr |
| 0.8 | AA | Alcoa Corp Financial Report 17th of July 2024 | PairCorr |
| 0.79 | AXP | American Express Financial Report 19th of July 2024 | PairCorr |
| 0.73 | DD | Dupont De Nemours Earnings Call This Week | PairCorr |
| 0.72 | CICHF | China Construction Bank | PairCorr |
| 0.58 | OCEA | Ocean Biomedical | PairCorr |
| 0.58 | TRV | The Travelers Companies Financial Report 18th of July 2024 | PairCorr |
Related Correlations Analysis
| 0.13 | -0.02 | -0.08 | 0.08 | 0.13 | ACRS | ||
| 0.13 | 0.71 | 0.33 | -0.52 | 0.69 | PRE | ||
| -0.02 | 0.71 | 0.4 | -0.74 | 0.45 | DRIO | ||
| -0.08 | 0.33 | 0.4 | -0.03 | 0.09 | OLK | ||
| 0.08 | -0.52 | -0.74 | -0.03 | -0.2 | STIM | ||
| 0.13 | 0.69 | 0.45 | 0.09 | -0.2 | FONR | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Fulgent Stock performing well and Fulgent Genetics 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 Fulgent Genetics' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ACRS | 2.77 | 0.16 | 0.01 | (0.24) | 3.35 | 6.78 | 21.90 | |||
| PRE | 4.15 | (0.04) | 0.03 | 0.07 | 5.02 | 12.28 | 33.17 | |||
| DRIO | 5.04 | (0.73) | 0.00 | (0.15) | 0.00 | 10.69 | 43.04 | |||
| OLK | 0.75 | (0.21) | 0.00 | (0.51) | 0.00 | 1.04 | 8.72 | |||
| STIM | 3.63 | 0.15 | 0.06 | 0.15 | 3.92 | 11.35 | 31.45 | |||
| FONR | 1.64 | (0.34) | 0.00 | (0.25) | 0.00 | 3.56 | 13.52 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Fulgent Genetics without increasing your portfolio risk or giving up the 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?
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Fulgent Genetics Corporate Directors
Fulgent Genetics corporate directors refer to members of a Fulgent Genetics board of directors. The board of directors generally takes responsibility for the Fulgent Genetics' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Fulgent Genetics' board members must vote for the resolution. The Fulgent Genetics board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| James Mulay | Director | Profile | |
| Linda Marsh | Director | Profile | |
| John Bolger | Director | Profile | |
| Hanlin Gao | Lab Director and Chief Scientific Officer | Profile |
Already Invested in Fulgent Genetics?
The danger of trading Fulgent Genetics 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 Fulgent Genetics 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 Fulgent Genetics. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Fulgent Genetics 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.
When determining whether Fulgent Genetics is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Fulgent Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Fulgent Genetics Stock. Highlighted below are key reports to facilitate an investment decision about Fulgent Genetics Stock: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fulgent Genetics. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in price. For more information on how to buy Fulgent Stock please use our How to Invest in Fulgent Genetics guide.Note that the Fulgent Genetics information on this page should be used as a complementary analysis to other Fulgent Genetics' 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 the Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Complementary Tools for Fulgent Stock analysis
When running Fulgent Genetics' price analysis, check to measure Fulgent Genetics' 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 Fulgent Genetics is operating at the current time. Most of Fulgent Genetics' value examination focuses on studying past and present price action to predict the probability of Fulgent Genetics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Fulgent Genetics' price. Additionally, you may evaluate how the addition of Fulgent Genetics to your portfolios can decrease your overall portfolio volatility.
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Is Fulgent Genetics' 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 Fulgent Genetics. If investors know Fulgent 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 Fulgent Genetics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.99) | Earnings Share (5.63) | Revenue Per Share 9.71 | Quarterly Revenue Growth 0.041 | Return On Assets (0.03) |
The market value of Fulgent Genetics is measured differently than its book value, which is the value of Fulgent that is recorded on the company's balance sheet. Investors also form their own opinion of Fulgent Genetics' value that differs from its market value or its book value, called intrinsic value, which is Fulgent Genetics' 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 Fulgent Genetics' market value can be influenced by many factors that don't directly affect Fulgent Genetics' 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 Fulgent Genetics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Fulgent Genetics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fulgent Genetics' 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.