Intuitive Surgical Correlations

ISRG Stock

USD 518.62 2.46 0.48%

The current 90-days correlation between Intuitive Surgical and ResMed Inc is 0.54 (i.e., Very weak diversification). The correlation of Intuitive Surgical 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.

Intuitive Surgical Correlation With Market

Poor diversification

The correlation between Intuitive Surgical and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intuitive Surgical and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Intuitive Stock

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

For more detail on how to invest in Intuitive Stock please use our How to Invest in Intuitive Surgical guide.

Moving together with Intuitive Stock

0.73	EW	Edwards Lifesciences Corp Earnings Call This Week	Pair Corr
0.74	MD	Mednax Inc	Pair Corr
0.78	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.67	EHAB	Enhabit	Pair Corr
0.66	MBOT	Microbot Medical	Pair Corr

Moving against Intuitive Stock

0.49	ECOR	Electrocore LLC	Pair Corr
0.47	VERO	Venus Concept	Pair Corr
0.39	DRIO	DarioHealth Corp	Pair Corr
0.38	VTAK	Catheter Precision	Pair Corr
0.36	GH	Guardant Health	Pair Corr
0.32	CI	Cigna Corp	Pair Corr
0.49	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.48	CVS	CVS Health Corp	Pair Corr
0.41	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.36	ELAB	Elevai Labs, Common	Pair Corr
0.35	ICCM	Icecure Medical	Pair Corr
0.53	NAOV	NanoVibronix	Pair Corr
0.42	NXGLW	NexGel Warrant	Pair Corr
0.4	MXCT	MaxCyte	Pair Corr
0.33	MGRX	Mangoceuticals, Common	Pair Corr

Related Correlations Analysis

	RGEN	RMD	MMSI	ICUI	BNGO	LUCY	STXS	NXGL	EMBC	BAX
RGEN		-0.45	0.21	0.54	0.6	-0.46	-0.4	0.51	0.53	0.16	RGEN
RMD	-0.45		0.09	-0.36	-0.8	0.35	0.82	-0.41	-0.47	0.43	RMD
MMSI	0.21	0.09		0.59	0.21	0.27	-0.16	-0.08	0.45	0.7	MMSI
ICUI	0.54	-0.36	0.59		0.59	-0.27	-0.5	0.48	0.7	0.37	ICUI
BNGO	0.6	-0.8	0.21	0.59		-0.22	-0.73	0.29	0.69	-0.11	BNGO
LUCY	-0.46	0.35	0.27	-0.27	-0.22		0.29	-0.78	-0.33	0.28	LUCY
STXS	-0.4	0.82	-0.16	-0.5	-0.73	0.29		-0.43	-0.58	0.18	STXS
NXGL	0.51	-0.41	-0.08	0.48	0.29	-0.78	-0.43		0.35	-0.27	NXGL
EMBC	0.53	-0.47	0.45	0.7	0.69	-0.33	-0.58	0.35		0.18	EMBC
BAX	0.16	0.43	0.7	0.37	-0.11	0.28	0.18	-0.27	0.18		BAX
	RGEN	RMD	MMSI	ICUI	BNGO	LUCY	STXS	NXGL	EMBC	BAX

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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

STXS	+ 0.82	RMD
BAX	+ 0.7	MMSI
EMBC	+ 0.7	ICUI
EMBC	+ 0.69	BNGO
BNGO	+ 0.6	RGEN
ICUI	+ 0.59	MMSI

High negative correlations

BNGO	- 0.8	RMD
NXGL	- 0.78	LUCY
STXS	- 0.73	BNGO
EMBC	- 0.58	STXS
STXS	- 0.5	ICUI
EMBC	- 0.47	RMD

Risk-Adjusted Indicators

There is a big difference between Intuitive Stock performing well and Intuitive Surgical 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 Intuitive Surgical'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
RGEN	2.22	(0.32)	0.00	(0.06)	0.00	0.00	4.33	(5.78)	15.31
RMD	0.82	0.19	0.21	0.42	0.42	(1.08)	1.46	(1.14)	12.16
MMSI	1.17	(0.27)	0.00	(0.21)	0.00	0.00	2.53	(2.15)	14.94
ICUI	1.68	(0.32)	0.00	(0.19)	0.00	0.00	3.69	(3.98)	11.56
BNGO	2.05	(0.64)	0.00	(0.42)	0.00	0.00	4.00	(6.33)	12.99
LUCY	5.38	0.42	0.05	1.79	6.40	(6.81)	8.56	(8.86)	84.29
STXS	2.17	0.34	0.09	0.54	3.03	(2.30)	4.61	(3.32)	19.08
NXGL	2.73	(0.27)	0.00	(0.12)	0.00	0.00	5.75	(5.58)	21.04
EMBC	2.81	(0.46)	0.00	(0.11)	0.00	0.00	5.11	(7.22)	21.60
BAX	1.40	(0.14)	0.00	(0.02)	0.00	0.00	3.16	(3.11)	8.09

Intuitive Surgical Corporate Management

David Rosa	Chief Commercial Officer and Executive VP	Profile
Jamie Samath	Principal Accounting Officer, VP and Corporate Controller	Profile
Mark Brosius	Senior Officer	Profile
Ian Purdy	Senior Assurance	Profile
Julian Nikolchev	Sr Strategy	Profile
Gillian EdD	Senior ServicesWorldwide	Profile
Dirk Barten	Senior Marketing	Profile

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