Penumbra Correlations
PEN Stock | USD 206.55 2.84 1.39% |
The current 90-days correlation between Penumbra and Shockwave Medical is -0.09 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Penumbra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Penumbra moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Penumbra Correlation With Market
Significant diversification
The correlation between Penumbra and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Penumbra and DJI in the same portfolio, assuming nothing else is changed.
Penumbra |
Moving together with Penumbra Stock
0.66 | DOCS | Doximity | PairCorr |
0.74 | VEEV | Veeva Systems Class | PairCorr |
0.63 | MMSI | Merit Medical Systems Earnings Call This Week | PairCorr |
0.61 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
0.73 | LLY | Eli Lilly Earnings Call This Week | PairCorr |
Moving against Penumbra Stock
0.67 | ACON | Aclarion | PairCorr |
0.66 | AMN | AMN Healthcare Services | PairCorr |
0.66 | DRMA | Dermata Therapeutics | PairCorr |
0.5 | ELEV | Elevation Oncology | PairCorr |
0.47 | FORA | Forian Inc | PairCorr |
0.34 | VCNX | Vaccinex Trending | PairCorr |
0.65 | INAB | In8bio Inc | PairCorr |
0.63 | CGC | Canopy Growth Corp | PairCorr |
0.62 | CRL | Charles River Labora | PairCorr |
0.36 | ACB | Aurora Cannabis | PairCorr |
0.36 | PFE | Pfizer Inc Earnings Call This Week | PairCorr |
0.52 | PROC | Procaps Group SA | PairCorr |
0.5 | NTRBW | Nutriband Warrant | PairCorr |
0.47 | ABVC | ABVC Biopharma | PairCorr |
0.46 | SBFM | Sunshine Biopharma | PairCorr |
0.44 | AKTX | Akari Therapeutics PLC | PairCorr |
0.41 | NUVB | Nuvation Bio Earnings Call This Week | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Penumbra Stock performing well and Penumbra 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 Penumbra'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
SWAV | 1.68 | 0.04 | (0.01) | 0.30 | 2.04 | 3.76 | 16.22 | |||
PODD | 1.57 | 0.27 | 0.10 | 0.50 | 2.10 | 3.48 | 13.75 | |||
TMDX | 2.55 | (0.39) | 0.00 | (0.16) | 0.00 | 6.42 | 18.73 | |||
MASI | 1.72 | 0.38 | 0.22 | 1.28 | 1.19 | 5.28 | 14.76 | |||
INSP | 2.58 | 0.59 | 0.19 | (71.27) | 2.15 | 6.22 | 33.62 | |||
NARI | 2.07 | (0.33) | 0.00 | (1.62) | 0.00 | 5.00 | 13.86 | |||
INMD | 2.31 | (0.11) | (0.01) | 0.02 | 3.45 | 4.56 | 17.38 | |||
TNDM | 2.92 | (0.44) | 0.00 | (0.39) | 0.00 | 5.06 | 32.98 | |||
DXCM | 2.60 | (0.33) | 0.00 | 0.44 | 0.00 | 4.07 | 40.66 |