Quipt Home Correlations

QIPT Stock

USD 2.42 0.03 1.26%

The current 90-days correlation between Quipt Home Medical and Outset Medical is 0.09 (i.e., Significant diversification). The correlation of Quipt Home 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.

Quipt Home Correlation With Market

Weak diversification

The correlation between Quipt Home Medical and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Quipt Home Medical and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Quipt Stock

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

Moving together with Quipt Stock

0.71	OM	Outset Medical	Pair Corr
0.74	AHG	Akso Health Group	Pair Corr
0.9	QIPT	Quipt Home Medical	Pair Corr
0.65	AVR	Anteris Technologies	Pair Corr
0.76	XRAY	Dentsply Sirona	Pair Corr
0.74	002901	Double Medical Technology	Pair Corr
0.75	600587	Shinva Medical Instrument	Pair Corr
0.7	688626	Xiangyu Medical	Pair Corr
0.83	ICCM	Icecure Medical	Pair Corr
0.76	MHC	MyHealthChecked Plc	Pair Corr
0.83	300633	SonoScape Medical Corp	Pair Corr

Moving against Quipt Stock

0.7	AHC	Austco Healthcare	Pair Corr
0.64	688656	HOB Biotech Group	Pair Corr
0.52	688198	Beijing Balance Medical	Pair Corr
0.4	688358	Chison Medical Techn	Pair Corr
0.58	RHT	Resonance Health	Pair Corr
0.33	688139	Qingdao Haier Biomedical	Pair Corr
0.7	002950	Allmed Medical Products	Pair Corr
0.7	PRN	Profound Medical Corp	Pair Corr

Related Correlations Analysis

	EW	OM	VREX	688656	VTAK	002382	OTC	EUDA	AHC	688198
EW		-0.78	-0.22	0.56	-0.76	0.04	-0.72	0.31	0.37	0.76	EW
OM	-0.78		0.4	-0.73	0.83	0.05	0.78	-0.44	-0.35	-0.8	OM
VREX	-0.22	0.4		-0.02	0.38	-0.01	0.47	-0.24	0.04	-0.42	VREX
688656	0.56	-0.73	-0.02		-0.6	-0.42	-0.56	0.55	0.62	0.37	688656
VTAK	-0.76	0.83	0.38	-0.6		-0.06	0.58	-0.27	-0.24	-0.83	VTAK
002382	0.04	0.05	-0.01	-0.42	-0.06		0.08	-0.37	-0.63	0.34	002382
OTC	-0.72	0.78	0.47	-0.56	0.58	0.08		-0.32	-0.33	-0.6	OTC
EUDA	0.31	-0.44	-0.24	0.55	-0.27	-0.37	-0.32		0.66	0.17	EUDA
AHC	0.37	-0.35	0.04	0.62	-0.24	-0.63	-0.33	0.66		0.03	AHC
688198	0.76	-0.8	-0.42	0.37	-0.83	0.34	-0.6	0.17	0.03		688198
	EW	OM	VREX	688656	VTAK	002382	OTC	EUDA	AHC	688198

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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

VTAK	+ 0.83	OM
OTC	+ 0.78	OM
688198	+ 0.76	EW
AHC	+ 0.66	EUDA
AHC	+ 0.62	688656
OTC	+ 0.58	VTAK

High negative correlations

688198	- 0.83	VTAK
688198	- 0.8	OM
OM	- 0.78	EW
VTAK	- 0.76	EW
688656	- 0.73	OM
OTC	- 0.72	EW

Risk-Adjusted Indicators

There is a big difference between Quipt Stock performing well and Quipt Home 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 Quipt Home'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
EW	1.01	0.06	(0.01)	1.25	1.06	(1.15)	2.36	(1.88)	8.45
OM	4.10	(1.43)	0.00	2.05	0.00	0.00	5.33	(10.93)	65.67
VREX	2.08	(0.12)	(0.02)	0.01	3.38	(2.04)	4.53	(4.25)	20.04
688656	2.73	0.86	0.24	2.21	2.46	(2.97)	6.45	(3.52)	22.53
VTAK	3.65	(0.25)	(0.01)	0.01	4.17	(4.70)	10.20	(7.22)	21.45
002382	1.06	(0.25)	0.00	(0.49)	0.00	0.00	2.32	(2.80)	7.40
OTC	3.89	(0.62)	0.00	4.07	0.00	0.00	9.43	(8.93)	57.48
EUDA	6.90	1.39	0.17	2.35	7.05	(7.83)	17.48	(12.08)	51.45
AHC	2.04	0.31	0.07	129.37	2.03	(3.38)	5.41	(4.55)	12.53
688198	1.67	(0.03)	0.00	0.28	0.00	0.00	4.07	(3.00)	8.62

Quipt Home Corporate Management

Hardik Mehta	Chief Officer	Profile
William Zehnder	Chief Relations	Profile
Robert LLB	Corporate Secretary	Profile
Mark Miles	Vice Technology	Profile
William MD	Chief Officer	Profile
David Bachelder	Executive Operations	Profile

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