LENSAR Correlations

Stocks . USA . 
Stock . LENSAR Inc
LNSR Stock  USD 7.53  0.16  2.08%   
The current 90-days correlation between LENSAR Inc and Rxsight is -0.18 (i.e., Good diversification). The correlation of LENSAR 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.

LENSAR Correlation With Market

Significant diversification

The correlation between LENSAR Inc and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LENSAR Inc and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in LENSAR Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with LENSAR Stock

  0.75GH Guardant HealthPairCorr
  0.78LH LaboratoryPairCorr
  0.88MD Mednax IncPairCorr
  0.82OM Outset MedicalPairCorr
  0.82DOCS DoximityPairCorr
  0.75DXCM DexCom Inc Sell-off TrendPairCorr
  0.9VREX Varex Imaging CorpPairCorr
  0.89ELMD ElectromedPairCorr
  0.62ABT Abbott Laboratories Sell-off TrendPairCorr
  0.85BSX Boston Scientific Corp Sell-off TrendPairCorr
  0.62FNA Paragon 28PairCorr
  0.86SYK StrykerPairCorr
  0.82WGS GeneDx Holdings CorpPairCorr
  0.76MMSI Merit Medical SystemsPairCorr
  0.69NPCE NeuropacePairCorr
  0.84OFIX Orthofix MedicalPairCorr
  0.84PODD InsuletPairCorr
  0.77AORT ArtivionPairCorr
  0.8TCMD Tactile Systems TechPairCorr
  0.62BWAY BrainswayPairCorr

Moving against LENSAR Stock

  0.92EKSO Ekso Bionics HoldingsPairCorr
  0.76VERO Venus ConceptPairCorr
  0.56CI Cigna CorpPairCorr
  0.48DRIO DarioHealth CorpPairCorr
  0.67LIFWW MSP RecoveryPairCorr
  0.51MDT Medtronic PLCPairCorr
  0.5KIDS Orthopediatrics CorpPairCorr
  0.33IRIX IRIDEXPairCorr
  0.91ME 23Andme Holding Upward RallyPairCorr
  0.88TNDM Tandem Diabetes CarePairCorr
  0.8VALN Valneva SE ADRPairCorr
  0.63A Agilent Technologies Sell-off TrendPairCorr
  0.49AIMD Ainos IncPairCorr
  0.44ALGN Align TechnologyPairCorr

Related Correlations Analysis

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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   
OFIX
+ 0.88
TMCI
IRIX
+ 0.7
SRDX
AIMD
+ 0.52
RXST
LUNG
+ 0.46
RXST
LUNG
+ 0.42
AXGN
SSKN
+ 0.4
OFIX
  
High negative correlations   
TMCI
- 0.59
RXST
AIMD
- 0.55
AZYO
IRIX
- 0.37
AZYO
AIMD
- 0.35
TMCI
OFIX
- 0.35
RXST
AIMD
- 0.31
OFIX

Risk-Adjusted Indicators

There is a big difference between LENSAR Stock performing well and LENSAR 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 LENSAR'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RXST  1.68 (0.36) 0.00 (0.18) 0.00 
 0.00 
 2.19 
(5.18)
 12.89 
AXGN  2.25  0.05  0.02  0.17  3.70 
(2.26)
 4.73 
(5.50)
 21.60 
TMCI  3.14  0.02  0.16  0.13  2.55 
(4.29)
 6.08 
(4.39)
 38.73 
LUNG  3.18 (0.38) 0.00 (0.07) 0.00 
 0.00 
 8.44 
(6.89)
 20.44 
OFIX  1.86  0.03  0.04  0.15  2.06 
(2.07)
 3.90 
(3.85)
 12.11 
AZYO  3.96  0.72  0.12 (1.34) 3.84 
(5.00)
 8.44 
(7.23)
 30.62 
AIMD  3.74 (0.51) 0.00 (0.21) 0.00 
 0.00 
 8.16 
(7.69)
 28.01 
SRDX  0.48 (0.06) 0.00 (0.03) 0.00 
 0.00 
 1.26 
(1.01)
 3.22 
IRIX  2.57 (0.15) 0.00 (0.07) 0.00 
 0.00 
 4.76 
(5.33)
 40.39 
SSKN  2.87 (0.14) 0.00 (0.19) 0.00 
 0.00 
 5.50 
(7.20)
 16.58 

LENSAR Corporate Executives

Elected by the shareholders, the LENSAR's board of directors comprises two types of representatives: LENSAR inside directors who are chosen from within the company, and outside directors, selected externally and held independent of LENSAR. The board's role is to monitor LENSAR's management team and ensure that shareholders' interests are well served. LENSAR's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, LENSAR's outside directors are responsible for providing unbiased perspectives on the board's policies.
CPA IICFO SecretaryProfile
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