Heartbeam Correlations

BEAT Stock

USD 1.27 0.01 0.78%

The current 90-days correlation between Heartbeam and Applied Opt is 0.18 (i.e., Average diversification). The correlation of Heartbeam 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.

Heartbeam Correlation With Market

Modest diversification

The correlation between Heartbeam and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heartbeam and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Heartbeam Stock

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

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

Moving together with Heartbeam Stock

0.69	TFX	Teleflex Incorporated Earnings Call This Week	Pair Corr
0.79	GCTK	GlucoTrack Trending	Pair Corr
0.77	MLAB	Mesa Laboratories	Pair Corr
0.67	ONCO	Onconetix	Pair Corr

Moving against Heartbeam Stock

0.72	HSCSW	Heart Test Laboratories	Pair Corr
0.68	CAH	Cardinal Health	Pair Corr
0.6	JYNT	Joint Corp	Pair Corr
0.54	HSCS	Heart Test Laboratories	Pair Corr
0.53	MASS	908 Devices	Pair Corr
0.47	XTNT	Xtant Medical Holdings Earnings Call This Week	Pair Corr
0.34	SNDA	Sonida Senior Living	Pair Corr
0.75	MRVI	Maravai Lifesciences	Pair Corr
0.74	VRDN	Viridian Therapeutics	Pair Corr
0.72	VTYX	Ventyx Biosciences	Pair Corr
0.72	PFE	Pfizer Inc	Pair Corr
0.68	NUVL	Nuvalent	Pair Corr
0.64	GILD	Gilead Sciences	Pair Corr
0.53	ESPR	Esperion Therapeutics	Pair Corr
0.47	HCM	HUTCHMED DRC	Pair Corr
0.45	JNJ	Johnson Johnson	Pair Corr
0.33	MRK	Merck Company Earnings Call This Week	Pair Corr

Related Correlations Analysis

	AAOI	ATRC	BFRG	CORT	CTEV	FOXO	HCTI	IRTC	SUPN	UTRS
AAOI		-0.33	-0.78	0.14	0.82	-0.77	-0.55	0.49	0.35	0.0	AAOI
ATRC	-0.33		0.37	0.23	-0.02	0.04	-0.32	0.15	-0.11	0.0	ATRC
BFRG	-0.78	0.37		0.24	-0.73	0.63	0.39	-0.19	-0.06	0.0	BFRG
CORT	0.14	0.23	0.24		0.04	-0.1	-0.37	0.47	0.27	0.0	CORT
CTEV	0.82	-0.02	-0.73	0.04		-0.91	-0.77	0.57	0.33	0.0	CTEV
FOXO	-0.77	0.04	0.63	-0.1	-0.91		0.76	-0.59	-0.3	0.0	FOXO
HCTI	-0.55	-0.32	0.39	-0.37	-0.77	0.76		-0.66	-0.43	0.0	HCTI
IRTC	0.49	0.15	-0.19	0.47	0.57	-0.59	-0.66		0.27	0.0	IRTC
SUPN	0.35	-0.11	-0.06	0.27	0.33	-0.3	-0.43	0.27		0.0	SUPN
UTRS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		UTRS
	AAOI	ATRC	BFRG	CORT	CTEV	FOXO	HCTI	IRTC	SUPN	UTRS

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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

CTEV	+ 0.82	AAOI
HCTI	+ 0.76	FOXO
FOXO	+ 0.63	BFRG
IRTC	+ 0.57	CTEV
IRTC	+ 0.49	AAOI
IRTC	+ 0.47	CORT

High negative correlations

FOXO	- 0.91	CTEV
BFRG	- 0.78	AAOI
HCTI	- 0.77	CTEV
FOXO	- 0.77	AAOI
CTEV	- 0.73	BFRG
IRTC	- 0.66	HCTI

Risk-Adjusted Indicators

There is a big difference between Heartbeam Stock performing well and Heartbeam 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 Heartbeam'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
AAOI	4.88	0.87	0.31	0.46	3.77	(6.17)	15.01	(7.75)	34.30
ATRC	1.89	(0.25)	0.00	(0.03)	0.00	0.00	3.88	(3.04)	17.56
BFRG	2.50	(0.23)	0.00	(0.06)	0.00	0.00	5.39	(4.62)	19.70
CORT	1.90	(0.02)	(0.01)	0.18	2.66	(1.97)	3.64	(4.33)	14.68
CTEV	3.43	1.09	0.31	1.20	2.55	(3.84)	7.33	(4.65)	40.80
FOXO	8.52	(0.45)	0.00	0.39	0.00	0.00	10.00	(13.68)	204.36
HCTI	17.55	1.82	0.09	0.96	20.21	(26.33)	32.63	(22.22)	258.42
IRTC	1.51	0.23	0.13	0.40	1.52	(1.64)	3.18	(3.30)	25.95
SUPN	1.20	(0.04)	(0.06)	0.15	1.52	(1.21)	2.75	(2.26)	7.37
UTRS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Heartbeam Corporate Management

Branislav Vajdic	President, Founder	Profile
FACC MD	Chief Officer	Profile
Timothy Cruickshank	Chief Officer	Profile
Richard Brounstein	CFO Treasurer	Profile
Richa Gujarati	Senior Product	Profile
Kenneth Persen	Chief Officer	Profile

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