Tela Bio Correlations
| TELA Stock | USD 5.71 0.21 3.82% |
The correlation of Tela Bio 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 Tela Bio moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tela Bio 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.
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tela Bio. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. Tela |
The ability to find closely correlated positions to Tela Bio could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tela Bio 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 Tela Bio - 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 Tela Bio to buy it.
Moving together with Tela Stock
| 0.65 | DRIO | DarioHealth Corp | PairCorr |
| 0.84 | EMBC | Embecta Corp Fiscal Year End 19th of November 2024 | PairCorr |
| 0.74 | ALC | Alcon AG | PairCorr |
Moving against Tela Stock
Related Correlations Analysis
| 0.01 | 0.62 | -0.22 | 0.0 | DXCM | ||
| 0.01 | 0.14 | -0.03 | 0.07 | DYNT | ||
| 0.62 | 0.14 | -0.43 | -0.16 | VREX | ||
| -0.22 | -0.03 | -0.43 | 0.56 | VTAK | ||
| 0.0 | 0.07 | -0.16 | 0.56 | ELMD | ||
| 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 Tela Stock performing well and Tela Bio 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 Tela Bio'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 Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DXCM | 1.62 | (0.05) | 0.00 | (0.04) | 0.00 | 3.27 | 19.71 | |||
| DYNT | 3.82 | (0.01) | 0.00 | 0.11 | 0.00 | 7.50 | 61.41 | |||
| VREX | 1.23 | (0.17) | 0.00 | (0.17) | 0.00 | 2.26 | 7.78 | |||
| VTAK | 4.21 | 0.20 | 0.03 | 0.20 | 5.61 | 8.89 | 35.59 | |||
| ELMD | 2.48 | 0.00 | 0.00 | 0.01 | 3.37 | 6.04 | 23.31 |
Tela Bio Corporate Management
| Megan Smeykal | Corporate VP | Profile | |
| Taylor Ocasio | General Secretary | Profile | |
| Antony Koblish | President, Cofounder | Profile | |
| Louisa Smith | Investor Officer | Profile | |
| Skott Greenhalgh | Chief Officer | Profile | |
| Peter Murphy | Chief Officer | Profile | |
| Roberto JD | CFO COO | Profile |
Complementary Tools for Tela Stock analysis
When running Tela Bio's price analysis, check to measure Tela Bio'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 Tela Bio is operating at the current time. Most of Tela Bio's value examination focuses on studying past and present price action to predict the probability of Tela Bio's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Tela Bio's price. Additionally, you may evaluate how the addition of Tela Bio to your portfolios can decrease your overall portfolio volatility.
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