Accelerate Diagnostics Correlations

AXDXDelisted Stock  USD 0.04  0.02  164.90%   
The current 90-days correlation between Accelerate Diagnostics and CVRx Inc is -0.13 (i.e., Good diversification). The correlation of Accelerate Diagnostics 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.

Accelerate Diagnostics Correlation With Market

Significant diversification

The correlation between Accelerate Diagnostics and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Accelerate Diagnostics and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Accelerate Stock

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Moving against Accelerate Stock

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Related Correlations Analysis

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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   
AXGNANIK
OFIXANIK
OFIXAXGN
CNMDNPCE
CNMDAVNS
AVNSNPCE
  
High negative correlations   
OFIXAORT
AORTANIK
AORTAXGN
SGHTAXGN
SGHTANIK
OFIXSGHT

Risk-Adjusted Indicators

There is a big difference between Accelerate Stock performing well and Accelerate Diagnostics 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 Accelerate Diagnostics' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CVRX  4.36  0.32  0.07  0.35  7.20 
 11.74 
 50.43 
NPCE  3.07 (0.08) 0.00 (0.42) 0.00 
 5.22 
 48.86 
ANIK  2.50 (0.53) 0.00 (0.16) 0.00 
 4.73 
 23.94 
AXGN  2.68 (0.37) 0.00 (0.12) 0.00 
 4.74 
 27.13 
AORT  1.49  0.42  0.20  1.51  1.01 
 3.50 
 18.73 
SGHT  3.44  0.24  0.08  0.33  4.49 
 7.36 
 25.67 
OFIX  1.86 (0.50) 0.00 (0.10) 0.00 
 4.03 
 14.80 
AVNS  1.80 (0.28) 0.00 (0.02) 0.00 
 3.98 
 9.98 
CNMD  1.97 (0.26)(0.05) 0.05  2.18 
 4.29 
 20.87 
KIDS  1.90 (0.13) 0.00  0.12  2.23 
 4.06 
 11.10 

View Accelerate Diagnostics Related Equities

 Risk & Return  Correlation

Accelerate Diagnostics Corporate Management

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