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.

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

To learn how to invest in Penumbra Stock, please use our How to Invest in Penumbra guide.

Moving together with Penumbra Stock

0.66	DOCS	Doximity	Pair Corr
0.74	VEEV	Veeva Systems Class	Pair Corr
0.63	MMSI	Merit Medical Systems Earnings Call This Week	Pair Corr
0.61	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.73	LLY	Eli Lilly Earnings Call This Week	Pair Corr

Moving against Penumbra Stock

0.67	ACON	Aclarion	Pair Corr
0.66	AMN	AMN Healthcare Services	Pair Corr
0.66	DRMA	Dermata Therapeutics	Pair Corr
0.5	ELEV	Elevation Oncology	Pair Corr
0.47	FORA	Forian Inc	Pair Corr
0.34	VCNX	Vaccinex Trending	Pair Corr
0.65	INAB	In8bio Inc	Pair Corr
0.63	CGC	Canopy Growth Corp	Pair Corr
0.62	CRL	Charles River Labora	Pair Corr
0.36	ACB	Aurora Cannabis	Pair Corr
0.36	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.52	PROC	Procaps Group SA	Pair Corr
0.5	NTRBW	Nutriband Warrant	Pair Corr
0.47	ABVC	ABVC Biopharma	Pair Corr
0.46	SBFM	Sunshine Biopharma	Pair Corr
0.44	AKTX	Akari Therapeutics PLC	Pair Corr
0.41	NUVB	Nuvation Bio Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SWAV	PODD	TMDX	MASI	INSP	NARI	INMD	TNDM	DXCM
SWAV		0.12	0.33	-0.33	0.2	-0.1	-0.01	0.47	-0.47	SWAV
PODD	0.12		-0.55	0.53	0.68	-0.65	0.18	-0.13	-0.31	PODD
TMDX	0.33	-0.55		-0.46	-0.06	0.16	-0.34	0.73	0.08	TMDX
MASI	-0.33	0.53	-0.46		0.58	-0.53	-0.11	-0.45	-0.22	MASI
INSP	0.2	0.68	-0.06	0.58		-0.74	-0.34	0.16	-0.41	INSP
NARI	-0.1	-0.65	0.16	-0.53	-0.74		0.32	-0.06	0.55	NARI
INMD	-0.01	0.18	-0.34	-0.11	-0.34	0.32		-0.37	0.21	INMD
TNDM	0.47	-0.13	0.73	-0.45	0.16	-0.06	-0.37		0.04	TNDM
DXCM	-0.47	-0.31	0.08	-0.22	-0.41	0.55	0.21	0.04		DXCM
	SWAV	PODD	TMDX	MASI	INSP	NARI	INMD	TNDM	DXCM

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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

TNDM	+ 0.73	TMDX
INSP	+ 0.68	PODD
INSP	+ 0.58	MASI
DXCM	+ 0.55	NARI
MASI	+ 0.53	PODD
TNDM	+ 0.47	SWAV

High negative correlations

NARI	- 0.74	INSP
NARI	- 0.65	PODD
TMDX	- 0.55	PODD
NARI	- 0.53	MASI
DXCM	- 0.47	SWAV
MASI	- 0.46	TMDX

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	(1.98)	3.76	(3.16)	16.22
PODD	1.57	0.27	0.10	0.50	2.10	(1.70)	3.48	(2.99)	13.75
TMDX	2.55	(0.39)	0.00	(0.16)	0.00	0.00	6.42	(5.16)	18.73
MASI	1.72	0.38	0.22	1.28	1.19	(2.28)	5.28	(2.30)	14.76
INSP	2.58	0.59	0.19	(71.27)	2.15	(3.10)	6.22	(4.14)	33.62
NARI	2.07	(0.33)	0.00	(1.62)	0.00	0.00	5.00	(4.50)	13.86
INMD	2.31	(0.11)	(0.01)	0.02	3.45	(2.11)	4.56	(5.80)	17.38
TNDM	2.92	(0.44)	0.00	(0.39)	0.00	0.00	5.06	(7.17)	32.98
DXCM	2.60	(0.33)	0.00	0.44	0.00	0.00	4.07	(3.65)	40.66

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