Icad Correlations

Summary

ICADDelisted Stock

USD 3.87 0.13 3.48%

The current 90-days correlation between Icad Inc and Elutia Inc is -0.1 (i.e., Good diversification). The correlation of Icad 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.

Icad Correlation With Market

Average diversification

The correlation between Icad Inc and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icad Inc 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. 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.

Moving together with Icad Stock

0.8	NVDA	NVIDIA Aggressive Push	Pair Corr
0.65	C	Citigroup	Pair Corr
0.68	PLTR	Palantir Technologies	Pair Corr

Moving against Icad Stock

0.48	AMAT	Applied Materials Sell-off Trend	Pair Corr
0.32	SAIHW	SAIHEAT Limited	Pair Corr

Related Correlations Analysis

	PRCT	ELUT	LNSR	NMRD	IRIX	ICCC	HBIO	INVE	HSTM
PRCT		0.32	0.71	0.0	-0.24	0.65	-0.08	-0.59	-0.47	PRCT
ELUT	0.32		0.5	0.0	-0.08	0.27	0.25	-0.22	-0.68	ELUT
LNSR	0.71	0.5		0.0	-0.21	0.42	-0.01	-0.57	-0.66	LNSR
NMRD	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	NMRD
IRIX	-0.24	-0.08	-0.21	0.0		-0.06	0.39	0.67	-0.03	IRIX
ICCC	0.65	0.27	0.42	0.0	-0.06		0.11	-0.23	-0.41	ICCC
HBIO	-0.08	0.25	-0.01	0.0	0.39	0.11		0.41	-0.23	HBIO
INVE	-0.59	-0.22	-0.57	0.0	0.67	-0.23	0.41		0.31	INVE
HSTM	-0.47	-0.68	-0.66	0.0	-0.03	-0.41	-0.23	0.31		HSTM
	PRCT	ELUT	LNSR	NMRD	IRIX	ICCC	HBIO	INVE	HSTM

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

LNSR	+ 0.71	PRCT
INVE	+ 0.67	IRIX
ICCC	+ 0.65	PRCT
LNSR	+ 0.5	ELUT
ICCC	+ 0.42	LNSR
INVE	+ 0.41	HBIO

High negative correlations

HSTM	- 0.68	ELUT
HSTM	- 0.66	LNSR
INVE	- 0.59	PRCT
INVE	- 0.57	LNSR
HSTM	- 0.47	PRCT
HSTM	- 0.41	ICCC

Risk-Adjusted Indicators

There is a big difference between Icad Stock performing well and Icad 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 Icad'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
PRCT	2.57	(0.70)	0.00	(1.20)	0.00	0.00	4.13	(5.11)	16.66
ELUT	3.92	(1.18)	0.00	1.34	0.00	0.00	8.37	(8.11)	35.63
LNSR	1.23	(0.17)	0.00	(0.09)	0.00	0.00	2.62	(2.43)	6.63
NMRD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IRIX	3.51	0.29	0.09	0.20	3.73	(4.43)	8.51	(6.72)	29.79
ICCC	2.22	(0.09)	0.00	0.39	0.00	0.00	4.87	(4.89)	17.70
HBIO	3.61	(0.03)	0.00	0.11	0.00	0.00	9.09	(6.38)	36.71
INVE	1.99	0.16	0.04	0.57	2.30	(2.52)	4.39	(4.76)	12.90
HSTM	0.96	(0.06)	(0.04)	0.03	1.10	(1.09)	2.16	(2.24)	4.70

Icad Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Icad stock to make a market-neutral strategy. Peer analysis of Icad could also be used in its relative valuation, which is a method of valuing Icad by comparing valuation metrics with similar companies.

Procept Biorobotics Corp Elutia Inc LENSAR Inc Nemaura Medical IRIDEX ImmuCell Harvard Bioscience Identiv HealthStream American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

Icad Corporate Management

Jonathan Go	Sr. VP of RandD	Profile
Eric Lonnqvist	Chief Officer	Profile
Annette Heroux	Vice Administration	Profile
Mark Koeniguer	Chief Officer	Profile
Stephen Sarno	Interim Officer	Profile
Michelle Strong	Chief Officer	Profile

Still Interested in Icad Inc?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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