Glaukos Corp Correlations

GKOS Stock

USD 140.83 0.61 0.43%

The current 90-days correlation between Glaukos Corp and Orthopediatrics Corp is 0.38 (i.e., Weak diversification). The correlation of Glaukos Corp 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.

Glaukos Corp Correlation With Market

Very weak diversification

The correlation between Glaukos Corp and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Glaukos Corp and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Glaukos Stock

0.76	LH	Laboratory	Pair Corr
0.68	CAH	Cardinal Health	Pair Corr
0.63	WGS	GeneDx Holdings Corp	Pair Corr
0.61	HIMS	Hims Hers Health Upward Rally	Pair Corr
0.65	RDNT	RadNet Inc	Pair Corr

Moving against Glaukos Stock

0.74	TFX	Teleflex Incorporated	Pair Corr
0.72	GCTK	GlucoTrack	Pair Corr
0.72	IDXX	IDEXX Laboratories	Pair Corr
0.62	AGL	agilon health	Pair Corr
0.48	ELAB	Elevai Labs, Common	Pair Corr
0.4	FIGS	Figs Inc	Pair Corr
0.38	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.7	ME	23Andme Holding	Pair Corr
0.61	ACHC	Acadia Healthcare	Pair Corr
0.57	AMED	Amedisys	Pair Corr
0.54	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.47	ADUS	Addus HomeCare	Pair Corr
0.43	AIEV	Thunder Power Holdings, Symbol Change	Pair Corr
0.4	ATPC	Agape ATP	Pair Corr
0.37	STSS	Sharps Technology Trending	Pair Corr
0.31	CMAXW	CareMax	Pair Corr
0.31	NVNO	enVVeno Medical Corp	Pair Corr
0.65	VIRX	Viracta Therapeutics	Pair Corr
0.61	DTIL	Precision BioSciences	Pair Corr

Related Correlations Analysis

	KIDS	CNMD	LIVN	FNA	OFIX	NUVA	HSKA	BRKR	NVRO	ITGR
KIDS		0.42	-0.75	0.15	0.05	0.23	-0.68	0.47	0.72	-0.46	KIDS
CNMD	0.42		-0.38	0.58	0.5	0.2	-0.11	0.15	0.42	0.22	CNMD
LIVN	-0.75	-0.38		-0.43	-0.21	-0.43	0.81	-0.2	-0.34	0.46	LIVN
FNA	0.15	0.58	-0.43		0.68	0.63	-0.34	-0.32	-0.1	0.32	FNA
OFIX	0.05	0.5	-0.21	0.68		0.72	-0.06	-0.62	-0.04	0.61	OFIX
NUVA	0.23	0.2	-0.43	0.63	0.72		-0.43	-0.53	-0.06	0.29	NUVA
HSKA	-0.68	-0.11	0.81	-0.34	-0.06	-0.43		-0.3	-0.37	0.47	HSKA
BRKR	0.47	0.15	-0.2	-0.32	-0.62	-0.53	-0.3		0.58	-0.51	BRKR
NVRO	0.72	0.42	-0.34	-0.1	-0.04	-0.06	-0.37	0.58		-0.26	NVRO
ITGR	-0.46	0.22	0.46	0.32	0.61	0.29	0.47	-0.51	-0.26		ITGR
	KIDS	CNMD	LIVN	FNA	OFIX	NUVA	HSKA	BRKR	NVRO	ITGR

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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

HSKA	+ 0.81	LIVN
NVRO	+ 0.72	KIDS
NUVA	+ 0.72	OFIX
OFIX	+ 0.68	FNA
NUVA	+ 0.63	FNA
ITGR	+ 0.61	OFIX

High negative correlations

LIVN	- 0.75	KIDS
HSKA	- 0.68	KIDS
BRKR	- 0.62	OFIX
BRKR	- 0.53	NUVA
ITGR	- 0.51	BRKR
ITGR	- 0.46	KIDS

Risk-Adjusted Indicators

There is a big difference between Glaukos Stock performing well and Glaukos Corp 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 Glaukos Corp'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
KIDS	2.71	(0.23)	0.00	(0.08)	0.00	0.00	5.44	(5.08)	21.53
CNMD	1.80	(0.01)	0.00	0.08	2.29	(1.84)	4.57	(3.83)	11.47
LIVN	1.16	0.05	0.03	0.14	1.45	(1.11)	3.73	(2.55)	8.68
FNA	3.85	0.30	0.11	0.18	3.98	(4.39)	7.83	(6.30)	43.16
OFIX	1.86	0.11	0.07	0.16	2.02	(2.04)	3.90	(3.85)	12.11
NUVA	1.23	(0.07)	0.00	(0.05)	0.00	0.00	3.31	(2.75)	7.19
HSKA	1.18	0.55	0.88	1.15	0.00	(1.25)	3.63	(0.71)	21.36
BRKR	1.85	(0.34)	0.00	(0.38)	0.00	0.00	4.73	(3.68)	10.80
NVRO	3.73	(0.44)	0.00	(0.11)	0.00	0.00	8.28	(7.61)	25.58
ITGR	1.23	0.03	0.03	0.11	1.45	(1.26)	2.48	(2.16)	7.64

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