IRIDEX Correlations

IRIX Stock

USD 0.94 0.01 1.08%

The current 90-days correlation between IRIDEX and Adagio Medical Holdings, is 0.09 (i.e., Significant diversification). The correlation of IRIDEX 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

IRIDEX Correlation With Market

Modest diversification

The correlation between IRIDEX and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IRIDEX and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IRIDEX Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in IRIDEX. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more information on how to buy IRIDEX Stock please use our How to Invest in IRIDEX guide.

Moving together with IRIDEX Stock

0.74	KIDS	Orthopediatrics Corp	Pair Corr
0.72	SMLR	Semler Scientific	Pair Corr
0.64	DCTH	Delcath Systems	Pair Corr
0.74	BA	Boeing	Pair Corr
0.89	HD	Home Depot	Pair Corr

Moving against IRIDEX Stock

0.78	DHR	Danaher	Pair Corr
0.75	BFLY	Butterfly Network	Pair Corr
0.71	TCMD	Tactile Systems Tech	Pair Corr
0.7	NPCE	Neuropace	Pair Corr
0.67	WILC	G Willi Food	Pair Corr
0.6	002432	Andon Health	Pair Corr
0.58	CBLL	CeriBell,	Pair Corr
0.54	BKRKF	PT Bank Rakyat	Pair Corr
0.42	PREC	Prestige Cars Intern	Pair Corr
0.41	PPERY	Bank Mandiri Persero	Pair Corr
0.41	PBCRY	Bank Central Asia	Pair Corr
0.4	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.34	RXST	Rxsight	Pair Corr
0.91	RWEOY	RWE AG PK	Pair Corr
0.87	CAT	Caterpillar	Pair Corr
0.81	IBM	International Business Sell-off Trend	Pair Corr
0.79	INTC	Intel Aggressive Push	Pair Corr
0.71	VWDRY	Vestas Wind Systems	Pair Corr
0.71	KO	Coca Cola	Pair Corr
0.69	DD	Dupont De Nemours	Pair Corr
0.66	JPDYY	Japan Display ADR	Pair Corr
0.64	MMM	3M Company	Pair Corr
0.64	XOM	Exxon Mobil Corp	Pair Corr
0.63	AXP	American Express	Pair Corr
0.59	AHFI	Absolute Health	Pair Corr
0.54	EW	Edwards Lifesciences Corp	Pair Corr
0.52	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	ADGM	COCH	PULM	VVOS	ASBP	ALUR	PALI	NVNO	HOTH	IINN
ADGM		0.46	0.3	0.74	0.68	0.83	-0.52	0.87	0.83	0.79	ADGM
COCH	0.46		0.31	0.72	0.62	0.63	-0.7	0.42	0.49	0.52	COCH
PULM	0.3	0.31		0.47	0.57	0.47	-0.25	0.55	0.34	0.07	PULM
VVOS	0.74	0.72	0.47		0.83	0.86	-0.8	0.76	0.71	0.71	VVOS
ASBP	0.68	0.62	0.57	0.83		0.87	-0.66	0.79	0.71	0.51	ASBP
ALUR	0.83	0.63	0.47	0.86	0.87		-0.69	0.85	0.81	0.76	ALUR
PALI	-0.52	-0.7	-0.25	-0.8	-0.66	-0.69		-0.6	-0.72	-0.7	PALI
NVNO	0.87	0.42	0.55	0.76	0.79	0.85	-0.6		0.86	0.67	NVNO
HOTH	0.83	0.49	0.34	0.71	0.71	0.81	-0.72	0.86		0.75	HOTH
IINN	0.79	0.52	0.07	0.71	0.51	0.76	-0.7	0.67	0.75		IINN
	ADGM	COCH	PULM	VVOS	ASBP	ALUR	PALI	NVNO	HOTH	IINN

Please upgrade your account to get full access to Macroaxis premium features

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

NVNO	+ 0.87	ADGM
ALUR	+ 0.87	ASBP
ALUR	+ 0.86	VVOS
HOTH	+ 0.86	NVNO
NVNO	+ 0.85	ALUR
ALUR	+ 0.83	ADGM

High negative correlations

PALI	- 0.8	VVOS
HOTH	- 0.72	PALI
IINN	- 0.7	PALI
PALI	- 0.7	COCH
PALI	- 0.69	ALUR
PALI	- 0.66	ASBP

Risk-Adjusted Indicators

There is a big difference between IRIDEX Stock performing well and IRIDEX 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 IRIDEX'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
ADGM	5.33	(0.66)	0.00	(0.73)	0.00	0.00	14.56	(10.47)	41.94
COCH	5.71	(0.01)	0.00	0.06	8.65	(8.27)	6.94	(9.59)	137.81
PULM	2.22	(0.23)	0.00	(0.62)	0.00	0.00	4.82	(4.45)	14.68
VVOS	3.20	(1.15)	0.00	(0.81)	0.00	0.00	3.77	(7.04)	21.41
ASBP	7.90	(1.63)	0.00	4.81	0.00	0.00	10.00	(20.00)	137.50
ALUR	4.14	(0.39)	0.00	(0.05)	0.00	0.00	11.81	(9.68)	32.63
PALI	7.33	2.01	0.30	2.93	5.47	(10.05)	19.05	(8.97)	64.37
NVNO	4.35	(1.28)	0.00	(0.21)	0.00	0.00	8.33	(10.81)	52.05
HOTH	3.42	(0.22)	0.00	(0.03)	0.00	0.00	9.71	(6.94)	24.18
IINN	3.37	0.02	0.00	0.09	3.73	(4.52)	7.08	(7.20)	23.96

IRIDEX Corporate Management

Leigh Salvo	Head Relations	Profile
Patrick Mercer	Chief Officer	Profile
Fuad Ahmad	Interim Officer	Profile
Bassem BouHabib	Vice Sales	Profile
Romeo Dizon	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC