Accelerate Diagnostics Correlations

Summary

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

0.79

MCD

McDonalds

Pair Corr

Moving against Accelerate Stock

0.88	CAT	Caterpillar	Pair Corr
0.86	TLK	Telkom Indonesia Tbk Earnings Call This Week	Pair Corr
0.85	CVX	Chevron Corp	Pair Corr
0.83	CSCO	Cisco Systems	Pair Corr
0.83	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.82	IBM	International Business	Pair Corr
0.8	BAC	Bank of America Aggressive Push	Pair Corr
0.79	PFE	Pfizer Inc	Pair Corr
0.76	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.76	BA	Boeing Earnings Call This Week	Pair Corr
0.67	INTC	Intel Earnings Call Today	Pair Corr
0.6	EC	Ecopetrol SA ADR	Pair Corr
0.6	MMM	3M Company Sell-off Trend	Pair Corr
0.6	XOM	Exxon Mobil Corp	Pair Corr

Related Correlations Analysis

	CVRX	NPCE	ANIK	AXGN	AORT	SGHT	OFIX	AVNS	CNMD	KIDS
CVRX		-0.24	0.24	0.41	-0.03	-0.31	0.1	-0.35	-0.28	0.2	CVRX
NPCE	-0.24		0.08	-0.09	-0.12	-0.19	0.14	0.66	0.73	0.09	NPCE
ANIK	0.24	0.08		0.91	-0.86	-0.71	0.91	0.33	-0.03	-0.01	ANIK
AXGN	0.41	-0.09	0.91		-0.79	-0.76	0.87	0.13	-0.23	0.02	AXGN
AORT	-0.03	-0.12	-0.86	-0.79		0.58	-0.86	-0.26	0.1	0.3	AORT
SGHT	-0.31	-0.19	-0.71	-0.76	0.58		-0.68	-0.15	0.06	-0.17	SGHT
OFIX	0.1	0.14	0.91	0.87	-0.86	-0.68		0.41	0.0	0.09	OFIX
AVNS	-0.35	0.66	0.33	0.13	-0.26	-0.15	0.41		0.7	0.11	AVNS
CNMD	-0.28	0.73	-0.03	-0.23	0.1	0.06	0.0	0.7		0.18	CNMD
KIDS	0.2	0.09	-0.01	0.02	0.3	-0.17	0.09	0.11	0.18		KIDS
	CVRX	NPCE	ANIK	AXGN	AORT	SGHT	OFIX	AVNS	CNMD	KIDS

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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

AXGN	+ 0.91	ANIK
OFIX	+ 0.91	ANIK
OFIX	+ 0.87	AXGN
CNMD	+ 0.73	NPCE
CNMD	+ 0.7	AVNS
AVNS	+ 0.66	NPCE

High negative correlations

OFIX	- 0.86	AORT
AORT	- 0.86	ANIK
AORT	- 0.79	AXGN
SGHT	- 0.76	AXGN
SGHT	- 0.71	ANIK
OFIX	- 0.68	SGHT

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CVRX	4.36	0.32	0.07	0.35	7.20	(4.72)	11.74	(5.03)	50.43
NPCE	3.07	(0.08)	0.00	(0.42)	0.00	0.00	5.22	(5.92)	48.86
ANIK	2.50	(0.53)	0.00	(0.16)	0.00	0.00	4.73	(4.60)	23.94
AXGN	2.68	(0.37)	0.00	(0.12)	0.00	0.00	4.74	(4.67)	27.13
AORT	1.49	0.42	0.20	1.51	1.01	(1.86)	3.50	(2.03)	18.73
SGHT	3.44	0.24	0.08	0.33	4.49	(3.78)	7.36	(4.92)	25.67
OFIX	1.86	(0.50)	0.00	(0.10)	0.00	0.00	4.03	(3.75)	14.80
AVNS	1.80	(0.28)	0.00	(0.02)	0.00	0.00	3.98	(3.90)	9.98
CNMD	1.97	(0.26)	(0.05)	0.05	2.18	(2.20)	4.29	(4.06)	20.87
KIDS	1.90	(0.13)	0.00	0.12	2.23	(2.00)	4.06	(3.51)	11.10

View Accelerate Diagnostics Related Equities

CVRx Inc Neuropace Anika Therapeutics Axogen Inc Artivion Sight Sciences Orthofix Medical Avanos Medical CONMED Orthopediatrics Corp SurModics Integer Holdings Corp ProSomnus, Common Stock LivaNova PLC Electromed

Risk & Return

Correlation

Accelerate Diagnostics Corporate Management

Lawrence Mertz	Chief Officer	Profile
Michael Bridge	Gen VP	Profile
Laura Costa	VP Support	Profile
Rita Boukamel	Senior EMEA	Profile
Maya Gowri	Senior Operations	Profile

Still Interested in Accelerate Diagnostics?

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