Apyx Medical Correlations

APYX Stock

USD 1.20 0.02 1.69%

The current 90-days correlation between Apyx Medical and Neuropace is 0.21 (i.e., Modest diversification). The correlation of Apyx Medical 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.

Apyx Medical Correlation With Market

Weak diversification

The correlation between Apyx Medical and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apyx Medical and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Apyx Medical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

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

Moving together with Apyx Stock

0.71	VREX	Varex Imaging Corp Fiscal Year End 12th of November 2024	Pair Corr
0.7	ESTA	Establishment Labs	Pair Corr

Moving against Apyx Stock

0.48	ABT	Abbott Laboratories Fiscal Year End 22nd of January 2025	Pair Corr
0.38	BVS	Bioventus	Pair Corr
0.36	ELMD	Electromed	Pair Corr
0.46	MMSI	Merit Medical Systems	Pair Corr
0.45	DHR	Danaher	Pair Corr
0.33	DSGN	Design Therapeutics	Pair Corr
0.56	ZTS	Zoetis Inc	Pair Corr
0.53	HLN	Haleon plc	Pair Corr
0.46	TMO	Thermo Fisher Scientific	Pair Corr
0.45	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr
0.45	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.45	WAT	Waters	Pair Corr

Related Correlations Analysis

	NPCE	INGN	SRDX	LUNG	AXGN	HSKA	KIDS	OSA	LIVN	ELMD
NPCE		0.08	0.17	0.43	-0.03	0.15	0.64	-0.27	0.31	-0.12	NPCE
INGN	0.08		-0.72	0.09	0.74	0.64	-0.14	-0.1	-0.69	0.2	INGN
SRDX	0.17	-0.72		-0.33	-0.93	-0.68	0.32	-0.25	0.47	-0.7	SRDX
LUNG	0.43	0.09	-0.33		0.52	0.36	0.5	0.21	0.4	0.68	LUNG
AXGN	-0.03	0.74	-0.93	0.52		0.68	-0.14	0.19	-0.36	0.77	AXGN
HSKA	0.15	0.64	-0.68	0.36	0.68		-0.11	0.05	-0.51	0.49	HSKA
KIDS	0.64	-0.14	0.32	0.5	-0.14	-0.11		-0.3	0.43	-0.08	KIDS
OSA	-0.27	-0.1	-0.25	0.21	0.19	0.05	-0.3		0.18	0.33	OSA
LIVN	0.31	-0.69	0.47	0.4	-0.36	-0.51	0.43	0.18		0.07	LIVN
ELMD	-0.12	0.2	-0.7	0.68	0.77	0.49	-0.08	0.33	0.07		ELMD
	NPCE	INGN	SRDX	LUNG	AXGN	HSKA	KIDS	OSA	LIVN	ELMD

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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

ELMD	+ 0.77	AXGN
AXGN	+ 0.74	INGN
ELMD	+ 0.68	LUNG
HSKA	+ 0.68	AXGN
KIDS	+ 0.64	NPCE
HSKA	+ 0.64	INGN

High negative correlations

AXGN	- 0.93	SRDX
SRDX	- 0.72	INGN
ELMD	- 0.7	SRDX
LIVN	- 0.69	INGN
HSKA	- 0.68	SRDX
LIVN	- 0.51	HSKA

Risk-Adjusted Indicators

There is a big difference between Apyx Stock performing well and Apyx Medical 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 Apyx Medical'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
NPCE	3.45	(0.13)	0.00	0.04	4.15	(3.45)	8.36	(6.60)	19.67
INGN	3.09	0.35	0.12	0.48	2.54	(4.07)	6.09	(4.30)	40.76
SRDX	0.42	(0.15)	0.00	(1.18)	0.00	0.00	0.86	(1.03)	3.10
LUNG	2.98	0.37	0.11	0.33	3.37	(3.41)	8.60	(6.08)	25.06
AXGN	2.75	0.78	0.32	0.39	2.22	(3.28)	6.44	(4.41)	39.63
HSKA	1.18	0.64	0.85	(1.33)	0.00	(1.25)	3.63	(0.71)	21.36
KIDS	2.55	(0.22)	0.00	(0.03)	0.00	0.00	7.54	(4.75)	15.43
OSA	104.70	59.71	1.97	(0.79)	13.81	(252.47)	51.22	(20.31)	168.97
LIVN	1.46	(0.15)	0.00	(0.02)	0.00	0.00	3.73	(2.92)	9.08
ELMD	2.51	0.41	0.14	0.57	2.59	(3.10)	6.65	(5.53)	13.47

Apyx Medical Corporate Executives

Elected by the shareholders, the Apyx Medical's board of directors comprises two types of representatives: Apyx Medical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Apyx. The board's role is to monitor Apyx Medical's management team and ensure that shareholders' interests are well served. Apyx Medical'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, Apyx Medical's outside directors are responsible for providing unbiased perspectives on the board's policies.

Tara Semb

Treasurer CFO

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