Neuropace Correlations

NPCE Stock

USD 6.68 0.04 0.60%

The current 90-days correlation between Neuropace and Electromed is 0.09 (i.e., Significant diversification). The correlation of Neuropace 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.

Neuropace Correlation With Market

Weak diversification

The correlation between Neuropace and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neuropace 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 Neuropace. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

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

Moving together with Neuropace Stock

0.67	ESTA	Establishment Labs	Pair Corr
0.62	EBS	Emergent Biosolutions Upward Rally	Pair Corr

Related Correlations Analysis

	ELMD	KIDS	SRDX	FNA	NVRO	NUVA	ITGR	GKOS	CNMD	OSA
ELMD		-0.08	-0.7	-0.23	-0.45	0.36	0.7	0.41	0.83	0.33	ELMD
KIDS	-0.08		0.32	0.57	0.51	0.1	0.26	0.16	0.26	-0.3	KIDS
SRDX	-0.7	0.32		0.04	0.85	-0.03	-0.68	-0.69	-0.61	-0.25	SRDX
FNA	-0.23	0.57	0.04		0.21	-0.5	0.2	0.25	0.07	-0.35	FNA
NVRO	-0.45	0.51	0.85	0.21		-0.04	-0.42	-0.59	-0.29	-0.16	NVRO
NUVA	0.36	0.1	-0.03	-0.5	-0.04		0.34	0.18	0.39	0.24	NUVA
ITGR	0.7	0.26	-0.68	0.2	-0.42	0.34		0.8	0.84	0.15	ITGR
GKOS	0.41	0.16	-0.69	0.25	-0.59	0.18	0.8		0.55	0.08	GKOS
CNMD	0.83	0.26	-0.61	0.07	-0.29	0.39	0.84	0.55		0.17	CNMD
OSA	0.33	-0.3	-0.25	-0.35	-0.16	0.24	0.15	0.08	0.17		OSA
	ELMD	KIDS	SRDX	FNA	NVRO	NUVA	ITGR	GKOS	CNMD	OSA

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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

NVRO	+ 0.85	SRDX
CNMD	+ 0.84	ITGR
CNMD	+ 0.83	ELMD
GKOS	+ 0.8	ITGR
ITGR	+ 0.7	ELMD
FNA	+ 0.57	KIDS

High negative correlations

SRDX	- 0.7	ELMD
GKOS	- 0.69	SRDX
ITGR	- 0.68	SRDX
CNMD	- 0.61	SRDX
GKOS	- 0.59	NVRO
NUVA	- 0.5	FNA

Risk-Adjusted Indicators

There is a big difference between Neuropace Stock performing well and Neuropace 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 Neuropace'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
ELMD	2.51	0.41	0.14	0.57	2.59	(3.10)	6.65	(5.53)	13.47
KIDS	2.55	(0.22)	0.00	(0.03)	0.00	0.00	7.54	(4.75)	15.43
SRDX	0.42	(0.15)	0.00	(1.18)	0.00	0.00	0.86	(1.03)	3.10
FNA	3.51	(0.08)	0.01	0.07	5.79	(3.47)	7.56	(8.68)	31.88
NVRO	4.69	(0.77)	0.00	(0.07)	0.00	0.00	10.07	(7.65)	54.41
NUVA	1.23	(0.04)	0.00	(0.31)	0.00	0.00	3.31	(2.75)	7.19
ITGR	1.36	0.06	0.03	0.17	1.91	(1.42)	2.54	(2.46)	11.18
GKOS	1.45	0.09	0.05	0.19	1.56	(1.52)	3.69	(2.16)	8.11
CNMD	1.77	0.05	0.03	0.15	2.06	(1.89)	4.92	(3.84)	12.82
OSA	104.70	59.71	1.97	(0.79)	13.81	(252.47)	51.22	(20.31)	168.97

Neuropace Corporate Management

Mark Saxton	VP Sales	Profile
Leah Akin	Acting Counsel	Profile
Irene Thomas	Vice Resources	Profile
Irina Ridley	Chief Secretary	Profile
Martha Morrell	Chief Officer	Profile
Chi Nguyen	VP Marketing	Profile
Kelley Nicholas	Vice Sales	Profile

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