Nuwellis Correlations

NUWE Stock

USD 0.24 0.02 7.69%

The current 90-days correlation between Nuwellis and ReShape Lifesciences is 0.04 (i.e., Significant diversification). The correlation of Nuwellis 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.

Nuwellis Correlation With Market

Average diversification

The correlation between Nuwellis and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuwellis and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nuwellis Stock

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

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

Moving together with Nuwellis Stock

0.71	FEMY	Femasys	Pair Corr
0.67	MOH	Molina Healthcare	Pair Corr
0.66	GCTK	GlucoTrack Upward Rally	Pair Corr
0.88	KMTS	Kestra Medical Techn	Pair Corr
0.94	LNSR	LENSAR Inc	Pair Corr
0.65	TMCI	Treace Medical Concepts	Pair Corr
0.72	VALN	Valneva SE ADR	Pair Corr

Moving against Nuwellis Stock

0.78	MASS	908 Devices	Pair Corr
0.73	DH	Definitive Healthcare	Pair Corr
0.65	NVNO	enVVeno Medical Corp	Pair Corr
0.64	CAH	Cardinal Health	Pair Corr
0.63	HAE	Haemonetics	Pair Corr
0.63	INFU	InfuSystems Holdings Downward Rally	Pair Corr
0.61	NVST	Envista Holdings Corp	Pair Corr
0.47	JYNT	Joint Corp	Pair Corr
0.41	XTNT	Xtant Medical Holdings	Pair Corr
0.86	FBRX	Forte Biosciences	Pair Corr
0.71	HSCSW	Heart Test Laboratories	Pair Corr
0.65	DNA	Ginkgo Bioworks Holdings	Pair Corr
0.61	ADUS	Addus HomeCare	Pair Corr
0.55	POCI	Precision Optics,	Pair Corr
0.54	HCM	HUTCHMED DRC	Pair Corr
0.53	A	Agilent Technologies	Pair Corr
0.52	UTMD	Utah Medical Products	Pair Corr
0.49	CUPR	Cuprina Holdings	Pair Corr
0.36	NYXH	Nyxoah	Pair Corr
0.35	FLGC	Flora Growth Corp	Pair Corr

Related Correlations Analysis

	RSLS	TNON	RMED	INVO	THMO	SINT	NAOV	TIVC	TLIS	BJDX
RSLS		0.41	0.0	0.0	0.0	-0.42	0.47	-0.06	0.0	0.48	RSLS
TNON	0.41		0.0	0.0	0.0	0.01	0.21	-0.32	0.0	0.54	TNON
RMED	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	RMED
INVO	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	INVO
THMO	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	THMO
SINT	-0.42	0.01	0.0	0.0	0.0		-0.76	-0.23	0.0	-0.29	SINT
NAOV	0.47	0.21	0.0	0.0	0.0	-0.76		0.27	0.0	0.19	NAOV
TIVC	-0.06	-0.32	0.0	0.0	0.0	-0.23	0.27		0.0	-0.25	TIVC
TLIS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TLIS
BJDX	0.48	0.54	0.0	0.0	0.0	-0.29	0.19	-0.25	0.0		BJDX
	RSLS	TNON	RMED	INVO	THMO	SINT	NAOV	TIVC	TLIS	BJDX

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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

BJDX	+ 0.54	TNON
BJDX	+ 0.48	RSLS
NAOV	+ 0.47	RSLS
TNON	+ 0.41	RSLS
TIVC	+ 0.27	NAOV
NAOV	+ 0.21	TNON

High negative correlations

NAOV	- 0.76	SINT
SINT	- 0.42	RSLS
TIVC	- 0.32	TNON
BJDX	- 0.29	SINT
BJDX	- 0.25	TIVC
TIVC	- 0.23	SINT

Risk-Adjusted Indicators

There is a big difference between Nuwellis Stock performing well and Nuwellis 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 Nuwellis' 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
RSLS	17.49	2.41	0.14	(1.53)	14.88	(32.40)	35.81	(20.49)	411.90
TNON	4.26	(1.86)	0.00	(1.27)	0.00	0.00	4.46	(13.02)	35.61
RMED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
INVO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
THMO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SINT	4.46	0.26	0.06	0.23	4.79	(5.59)	16.55	(7.21)	35.57
NAOV	11.93	0.23	0.01	(0.50)	13.32	(19.90)	35.66	(21.89)	207.46
TIVC	7.21	1.09	0.15	0.46	6.66	(11.03)	28.97	(9.13)	132.46
TLIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BJDX	7.53	0.07	0.00	(0.16)	11.72	(9.63)	10.69	(13.64)	173.13

Nuwellis Corporate Management

Neil Esq	General VP	Profile
Robert Scott	Chief Officer	Profile
Laurent Duhoux	VP Devel	Profile
Rob Scott	Director Officer	Profile
William MD	VP Marketing	Profile

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