Lucid Diagnostics Correlations

LUCD Stock

USD 1.13 0.01 0.89%

The current 90-days correlation between Lucid Diagnostics and Rapid Micro Biosystems is 0.28 (i.e., Modest diversification). The correlation of Lucid Diagnostics 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.

Lucid Diagnostics Correlation With Market

Very weak diversification

The correlation between Lucid Diagnostics and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lucid Diagnostics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Lucid Stock

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

For information on how to trade Lucid Stock refer to our How to Trade Lucid Stock guide.

Moving together with Lucid Stock

0.72	OM	Outset Medical Upward Rally	Pair Corr
0.61	KNTK	Kinetik Holdings	Pair Corr
0.71	HPQ	HP Inc	Pair Corr

Moving against Lucid Stock

0.72	TRV	The Travelers Companies	Pair Corr
0.67	AMPH	Amphastar P	Pair Corr
0.58	CSCO	Cisco Systems	Pair Corr
0.55	KO	Coca Cola Sell-off Trend	Pair Corr
0.5	FTV	Fortive Corp	Pair Corr
0.5	XOM	Exxon Mobil Corp	Pair Corr
0.49	VZ	Verizon Communications	Pair Corr
0.49	JNJ	Johnson Johnson	Pair Corr
0.46	MMSI	Merit Medical Systems	Pair Corr
0.46	CAT	Caterpillar	Pair Corr
0.44	DHR	Danaher	Pair Corr
0.43	PFE	Pfizer Inc	Pair Corr
0.43	MMM	3M Company	Pair Corr
0.31	AXP	American Express	Pair Corr

Related Correlations Analysis

	RPID	APYX	RCEL	IRD	STSS	AVR	SEER	OWLT	IXHL	SCLX
RPID		0.77	-0.04	-0.01	-0.29	-0.58	-0.35	0.26	0.05	0.57	RPID
APYX	0.77		-0.46	0.15	-0.68	-0.48	-0.66	0.54	0.08	0.45	APYX
RCEL	-0.04	-0.46		-0.25	0.81	0.0	0.63	-0.58	-0.08	-0.09	RCEL
IRD	-0.01	0.15	-0.25		-0.22	0.3	-0.32	0.35	0.55	0.1	IRD
STSS	-0.29	-0.68	0.81	-0.22		0.09	0.92	-0.84	-0.21	0.04	STSS
AVR	-0.58	-0.48	0.0	0.3	0.09		-0.03	0.09	0.35	-0.58	AVR
SEER	-0.35	-0.66	0.63	-0.32	0.92	-0.03		-0.91	-0.38	0.12	SEER
OWLT	0.26	0.54	-0.58	0.35	-0.84	0.09	-0.91		0.4	-0.16	OWLT
IXHL	0.05	0.08	-0.08	0.55	-0.21	0.35	-0.38	0.4		-0.15	IXHL
SCLX	0.57	0.45	-0.09	0.1	0.04	-0.58	0.12	-0.16	-0.15		SCLX
	RPID	APYX	RCEL	IRD	STSS	AVR	SEER	OWLT	IXHL	SCLX

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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

SEER	+ 0.92	STSS
STSS	+ 0.81	RCEL
APYX	+ 0.77	RPID
SEER	+ 0.63	RCEL
SCLX	+ 0.57	RPID
IXHL	+ 0.55	IRD

High negative correlations

OWLT	- 0.91	SEER
OWLT	- 0.84	STSS
STSS	- 0.68	APYX
SEER	- 0.66	APYX
SCLX	- 0.58	AVR
OWLT	- 0.58	RCEL

Risk-Adjusted Indicators

There is a big difference between Lucid Stock performing well and Lucid Diagnostics 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 Lucid Diagnostics' 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
RPID	3.93	(0.26)	0.00	(0.02)	0.00	0.00	8.72	(6.88)	22.93
APYX	3.21	0.36	0.09	0.49	3.11	(4.11)	8.25	(5.93)	21.86
RCEL	2.50	(0.71)	0.00	(1.75)	0.00	0.00	4.27	(4.55)	27.59
IRD	3.05	0.01	0.00	0.09	3.63	(3.49)	5.88	(6.96)	26.50
STSS	5.47	(1.68)	0.00	(0.37)	0.00	0.00	10.45	(11.26)	28.02
AVR	4.38	0.13	0.06	0.14	4.28	(5.69)	9.38	(7.84)	32.32
SEER	1.36	(0.39)	0.00	(0.45)	0.00	0.00	2.67	(3.24)	9.98
OWLT	3.93	0.98	0.21	1.29	4.03	(4.82)	9.52	(7.64)	30.32
IXHL	4.53	(0.14)	0.00	0.03	4.30	(6.78)	11.76	(7.50)	26.74
SCLX	4.91	(0.52)	0.00	(0.09)	0.00	0.00	10.97	(8.59)	28.87

Lucid Diagnostics Corporate Management

Lishan MD	Chairman CEO	Profile
Joseph MD	Strategic Cofounder	Profile
Deepika Lakhani	Chief Officer	Profile
Michael Gordon	General Secretary	Profile
Michael Parks	Vice Relations	Profile
Adrian Miller	VP Relations	Profile
Amitabh MD	Strategic Cofounder	Profile

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