NanoVibronix Correlations

NAOV Stock

USD 6.32 0.67 9.59%

The current 90-days correlation between NanoVibronix and Heart Test Laboratories is 0.16 (i.e., Average diversification). The correlation of NanoVibronix 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.

NanoVibronix Correlation With Market

Significant diversification

The correlation between NanoVibronix and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NanoVibronix and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NanoVibronix Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NanoVibronix. 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 information on how to buy NanoVibronix Stock please use our How to Invest in NanoVibronix guide.

Moving together with NanoVibronix Stock

0.62	ALC	Alcon AG	Pair Corr
0.75	LNTH	Lantheus Holdings	Pair Corr
0.71	BTMD	biote Corp	Pair Corr
0.69	BKRKF	PT Bank Rakyat	Pair Corr

Moving against NanoVibronix Stock

0.78	IRMD	Iradimed	Pair Corr
0.77	TFX	Teleflex Incorporated	Pair Corr
0.75	PTAIY	Astra International Tbk	Pair Corr
0.75	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.74	AIMD	Ainos Inc	Pair Corr
0.56	RMD	ResMed Inc	Pair Corr
0.55	NTIP	Network 1 Technologies	Pair Corr
0.53	WST	West Pharmaceutical	Pair Corr
0.5	PTBRY	Bank Negara Indonesia	Pair Corr
0.47	UI	Ubiquiti Networks	Pair Corr
0.4	BASFY	BASF SE ADR	Pair Corr
0.35	CODX	Co Diagnostics	Pair Corr
0.84	AGPYY	Agile Group Holdings	Pair Corr
0.75	AMRX	Amneal Pharmaceuticals,	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.74	FARO	FARO Technologies	Pair Corr
0.67	ACSAY	ACS Actividades De	Pair Corr
0.66	PYTCF	Playtech plc	Pair Corr
0.64	DOMH	Dominari Holdings	Pair Corr
0.62	FNMFO	Federal National Mortgage	Pair Corr
0.61	94986RYP0	US94986RYP09	Pair Corr
0.61	DSVSF	Discovery Metals Corp	Pair Corr
0.61	TR	Tootsie Roll Industries	Pair Corr
0.55	BMEZ	BlackRock Health Sciences	Pair Corr

Related Correlations Analysis

	HSCS	RSLS	IINN	OPGN	XBIO	WORX	VRPX	MRIN
HSCS		0.54	0.55	0.48	0.19	0.51	0.68	0.03	HSCS
RSLS	0.54		0.67	0.42	0.22	0.88	0.76	-0.31	RSLS
IINN	0.55	0.67		0.38	0.13	0.63	0.59	-0.11	IINN
OPGN	0.48	0.42	0.38		-0.06	0.39	0.61	-0.33	OPGN
XBIO	0.19	0.22	0.13	-0.06		0.09	0.11	0.41	XBIO
WORX	0.51	0.88	0.63	0.39	0.09		0.68	-0.38	WORX
VRPX	0.68	0.76	0.59	0.61	0.11	0.68		-0.19	VRPX
MRIN	0.03	-0.31	-0.11	-0.33	0.41	-0.38	-0.19		MRIN
	HSCS	RSLS	IINN	OPGN	XBIO	WORX	VRPX	MRIN

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

WORX	+ 0.88	RSLS
VRPX	+ 0.76	RSLS
VRPX	+ 0.68	HSCS
VRPX	+ 0.68	WORX
IINN	+ 0.67	RSLS
WORX	+ 0.63	IINN

High negative correlations

MRIN	- 0.38	WORX
MRIN	- 0.33	OPGN
MRIN	- 0.31	RSLS
MRIN	- 0.19	VRPX
MRIN	- 0.11	IINN
XBIO	- 0.06	OPGN

Risk-Adjusted Indicators

There is a big difference between NanoVibronix Stock performing well and NanoVibronix 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 NanoVibronix'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
HSCS	4.06	(0.19)	0.00	(0.02)	0.00	0.00	9.39	(9.12)	58.52
RSLS	8.67	0.23	0.02	0.22	10.74	(10.91)	22.50	(18.51)	94.41
IINN	3.61	(0.20)	0.00	(0.16)	0.00	0.00	7.14	(6.40)	24.47
OPGN	356.76	174.73	0.00	2.89	0.00	0.00	2.17	(1.09)	12,051
XBIO	6.35	2.22	0.53	(22.54)	3.00	(9.39)	7.45	(7.89)	22.76
WORX	4.11	(0.37)	0.00	(0.29)	0.00	0.00	10.34	(9.37)	44.19
VRPX	16.53	1.37	0.03	1.66	23.47	(35.52)	46.67	(52.38)	247.02
MRIN	5,622	2,852	219.42	30.07	0.00	(6,744)	69.41	(19.42)	188,375

NanoVibronix Corporate Management

CPA CPA	CFO Officer	Profile
M Harrison	VP Sales	Profile
Amir Rippel	Vice Marketing	Profile
Stephen CPA	Chief Officer	Profile
Harold MD	Chief Director	Profile
Rita Silberberg	Chief Finance	Profile

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