Rockwell Medical Correlations

RMTI Stock

USD 1.17 0.05 4.46%

The current 90-days correlation between Rockwell Medical and Lifecore Biomedical is 0.41 (i.e., Very weak diversification). The correlation of Rockwell Medical 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.

Rockwell Medical Correlation With Market

Very weak diversification

The correlation between Rockwell Medical and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rockwell Medical and DJI in the same portfolio, assuming nothing else is changed.

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

For more detail on how to invest in Rockwell Stock please use our How to Invest in Rockwell Medical guide.

Moving together with Rockwell Stock

0.7	BIOA	BioAge Labs,	Pair Corr
0.75	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.63	DH	Definitive Healthcare	Pair Corr
0.9	EQ	Equillium	Pair Corr
0.71	LH	Laboratory	Pair Corr
0.96	DMAC	DiaMedica Therapeutics	Pair Corr
0.81	VANI	Vivani Medical Earnings Call This Week	Pair Corr
0.81	DNLI	Denali Therapeutics	Pair Corr
0.71	DNTH	Dianthus Therapeutics	Pair Corr
0.85	DOCS	Doximity	Pair Corr
0.89	VCEL	Vericel Corp Ord	Pair Corr
0.75	VCYT	Veracyte	Pair Corr
0.88	VERV	Verve Therapeutics	Pair Corr
0.89	VERA	Vera Therapeutics Earnings Call This Week	Pair Corr
0.7	DRMA	Dermata Therapeutics	Pair Corr
0.71	DRUG	Bright Minds Biosciences	Pair Corr
0.75	DRTS	Alpha Tau Medical	Pair Corr
0.74	VIGL	Vigil Neuroscience	Pair Corr
0.63	DVAX	Dynavax Technologies	Pair Corr

Moving against Rockwell Stock

0.84	CI	Cigna Corp	Pair Corr
0.61	ZOMDF	Zomedica Corp	Pair Corr
0.49	LNTH	Lantheus Holdings Sell-off Trend	Pair Corr
0.4	YCBD-PA	cbdMD Inc Earnings Call This Week	Pair Corr
0.33	SRZNW	Surrozen Warrant	Pair Corr

Related Correlations Analysis

	LFCR	KMDA	ITCI	AGRX	EGRX	RGC	PROC	CPIX	IXHL	AQST
LFCR		-0.03	-0.39	0.0	0.0	0.46	0.18	-0.23	-0.56	0.21	LFCR
KMDA	-0.03		0.2	0.0	0.0	-0.22	-0.13	0.33	0.61	0.66	KMDA
ITCI	-0.39	0.2		0.0	0.0	-0.06	-0.23	0.17	0.19	-0.27	ITCI
AGRX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AGRX
EGRX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	EGRX
RGC	0.46	-0.22	-0.06	0.0	0.0		0.3	-0.24	-0.53	-0.07	RGC
PROC	0.18	-0.13	-0.23	0.0	0.0	0.3		-0.53	-0.16	0.28	PROC
CPIX	-0.23	0.33	0.17	0.0	0.0	-0.24	-0.53		0.35	0.08	CPIX
IXHL	-0.56	0.61	0.19	0.0	0.0	-0.53	-0.16	0.35		0.37	IXHL
AQST	0.21	0.66	-0.27	0.0	0.0	-0.07	0.28	0.08	0.37		AQST
	LFCR	KMDA	ITCI	AGRX	EGRX	RGC	PROC	CPIX	IXHL	AQST

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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

AQST	+ 0.66	KMDA
IXHL	+ 0.61	KMDA
RGC	+ 0.46	LFCR
AQST	+ 0.37	IXHL
IXHL	+ 0.35	CPIX
CPIX	+ 0.33	KMDA

High negative correlations

IXHL	- 0.56	LFCR
CPIX	- 0.53	PROC
IXHL	- 0.53	RGC
ITCI	- 0.39	LFCR
AQST	- 0.27	ITCI
CPIX	- 0.24	RGC

Risk-Adjusted Indicators

There is a big difference between Rockwell Stock performing well and Rockwell Medical 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 Rockwell Medical'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
LFCR	2.75	0.57	0.08	0.17	5.01	(2.76)	6.01	(5.42)	27.76
KMDA	2.07	0.01	0.00	(0.10)	0.00	0.00	4.69	(3.95)	14.70
ITCI	0.17	0.09	2.37	(16.60)	0.00	(0.22)	0.50	(0.16)	2.48
AGRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EGRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RGC	19.92	9.46	0.89	(4.53)	8.36	(28.24)	62.58	(18.83)	265.55
PROC	9.81	2.78	0.13	97.91	9.76	(33.53)	16.00	(15.09)	183.01
CPIX	7.22	1.72	0.29	(18.97)	5.67	(10.41)	17.70	(10.76)	98.19
IXHL	6.89	(3.20)	0.00	4.79	0.00	0.00	6.78	(17.46)	146.84
AQST	3.62	0.13	0.00	(0.01)	0.00	0.00	8.36	(6.20)	23.68

Rockwell Medical Corporate Management

Megan Timmins	Chief VP	Profile
David Kull	Principal Accounting Officer	Profile
Jason Finkelstein	Investor Representative	Profile
Nicholas Fanslau	Controller Officer	Profile
Marc MD	Chief Officer	Profile

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