Owlet Correlations

OWLT Stock

USD 14.74 0.50 3.51%

The current 90-days correlation between Owlet Inc and LENSAR Inc is -0.12 (i.e., Good diversification). The correlation of Owlet 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.

Owlet Correlation With Market

Average diversification

The correlation between Owlet Inc and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Owlet Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Owlet Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Owlet 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 industry.

Moving together with Owlet Stock

0.83	688656	HOB Biotech Group	Pair Corr
0.76	DHR	Danaher	Pair Corr
0.76	PROF	Profound Medical Corp	Pair Corr
0.89	SIBN	Si Bone	Pair Corr
0.79	BFLY	Butterfly Network	Pair Corr

Moving against Owlet Stock

0.89	OM	Outset Medical	Pair Corr
0.83	AHG	Akso Health Group	Pair Corr
0.83	CREO	Creo Medical Group	Pair Corr
0.79	MHC	MyHealthChecked Plc	Pair Corr
0.72	XRAY	Dentsply Sirona	Pair Corr
0.69	ICCM	Icecure Medical	Pair Corr
0.69	IHC	Inspiration Healthcare	Pair Corr
0.67	688151	Hubei Huaqiang High	Pair Corr
0.62	TNONW	Tenon Medical, Warrant	Pair Corr
0.57	MBOT	Microbot Medical	Pair Corr
0.52	PIIIW	P3 Health Partners	Pair Corr
0.5	SYK	Stryker	Pair Corr
0.44	TRLS	Trellus Health plc	Pair Corr
0.43	WOK	WORK Medical Technology	Pair Corr
0.34	VREX	Varex Imaging Corp	Pair Corr
0.33	AVR	Anteris Technologies Downward Rally	Pair Corr
0.32	BSX	Boston Scientific Corp	Pair Corr
0.89	TMCI	Treace Medical Concepts	Pair Corr
0.82	HCMC	Healthier Choices	Pair Corr
0.81	688050	Eyebright Medical	Pair Corr
0.76	UTMD	Utah Medical Products	Pair Corr
0.74	RMTI	Rockwell Medical	Pair Corr
0.65	CMWCF	Cromwell Property	Pair Corr
0.43	QIPT	Quipt Home Medical	Pair Corr

Related Correlations Analysis

	LNSR	AVR	RPID	ANIK	ELTX	APLT	CRBP	MXCT	LUCD	CRDF
LNSR		0.69	-0.76	-0.58	0.71	0.5	0.33	-0.15	0.32	0.1	LNSR
AVR	0.69		-0.57	-0.43	0.38	0.31	0.32	-0.1	0.45	0.2	AVR
RPID	-0.76	-0.57		0.3	-0.48	-0.67	-0.43	0.2	-0.51	-0.11	RPID
ANIK	-0.58	-0.43	0.3		-0.7	0.03	-0.01	0.15	0.18	0.35	ANIK
ELTX	0.71	0.38	-0.48	-0.7		0.33	0.23	-0.03	0.01	-0.23	ELTX
APLT	0.5	0.31	-0.67	0.03	0.33		0.82	0.18	0.7	0.33	APLT
CRBP	0.33	0.32	-0.43	-0.01	0.23	0.82		0.42	0.73	0.25	CRBP
MXCT	-0.15	-0.1	0.2	0.15	-0.03	0.18	0.42		0.22	0.16	MXCT
LUCD	0.32	0.45	-0.51	0.18	0.01	0.7	0.73	0.22		0.6	LUCD
CRDF	0.1	0.2	-0.11	0.35	-0.23	0.33	0.25	0.16	0.6		CRDF
	LNSR	AVR	RPID	ANIK	ELTX	APLT	CRBP	MXCT	LUCD	CRDF

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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

CRBP	+ 0.82	APLT
LUCD	+ 0.73	CRBP
ELTX	+ 0.71	LNSR
LUCD	+ 0.7	APLT
AVR	+ 0.69	LNSR
CRDF	+ 0.6	LUCD

High negative correlations

RPID	- 0.76	LNSR
ELTX	- 0.7	ANIK
APLT	- 0.67	RPID
ANIK	- 0.58	LNSR
RPID	- 0.57	AVR
LUCD	- 0.51	RPID

Risk-Adjusted Indicators

There is a big difference between Owlet Stock performing well and Owlet 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 Owlet'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
LNSR	1.79	(0.13)	0.00	(0.05)	0.00	0.00	3.29	(3.39)	12.25
AVR	4.19	(0.03)	0.01	0.06	4.25	(5.25)	9.38	(7.52)	32.32
RPID	3.70	0.25	0.08	0.16	4.20	(4.14)	8.72	(6.88)	22.93
ANIK	1.43	0.08	0.05	0.14	1.66	(1.56)	3.73	(3.10)	9.62
ELTX	2.59	(0.54)	0.00	(0.34)	0.00	0.00	5.50	(5.48)	28.82
APLT	10.84	(0.15)	0.02	0.05	16.56	(15.29)	21.28	(18.52)	191.76
CRBP	3.76	0.18	0.02	0.79	5.45	(4.49)	9.61	(8.15)	43.08
MXCT	3.74	0.01	0.01	0.07	4.58	(4.01)	8.70	(7.39)	22.89
LUCD	2.33	0.05	0.03	0.10	2.61	(3.02)	5.88	(4.07)	24.45
CRDF	2.70	0.11	0.06	0.12	3.20	(2.82)	6.25	(5.09)	16.89

Owlet Corporate Management

Kathryn Scolnick	Chief Officer	Profile
Elizabeth Teran	Chief Officer	Profile
Jay Gentzkow	Vice Relations	Profile
Amanda Crawford	Chief Officer	Profile
Jennifer Billington	Chief Officer	Profile
Burc Sahinoglu	Chief Officer	Profile

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