Retractable Technologies Correlations

RVP Stock

USD 0.62 0.01 1.64%

The current 90-days correlation between Retractable Technologies and Alpha Pro Tech is 0.12 (i.e., Average diversification). The correlation of Retractable Technologies 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.

Retractable Technologies Correlation With Market

Average diversification

The correlation between Retractable Technologies and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Retractable Technologies 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 Retractable Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

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

Moving together with Retractable Stock

0.7	CI	Cigna Corp	Pair Corr
0.61	VERO	Venus Concept	Pair Corr
0.85	EDAP	EDAP TMS SA	Pair Corr
0.82	EKSO	Ekso Bionics Holdings	Pair Corr
0.91	ELAB	Elevai Labs, Common	Pair Corr
0.82	FLGT	Fulgent Genetics	Pair Corr
0.82	AGL	agilon health	Pair Corr
0.73	ALC	Alcon AG	Pair Corr
0.89	AMN	AMN Healthcare Services	Pair Corr
0.84	BAX	Baxter International	Pair Corr

Moving against Retractable Stock

0.91	ELMD	Electromed	Pair Corr
0.77	DOCS	Doximity	Pair Corr
0.75	MD	Mednax Inc	Pair Corr
0.73	VREX	Varex Imaging Corp	Pair Corr
0.73	ECOR	Electrocore LLC	Pair Corr
0.69	OM	Outset Medical	Pair Corr
0.58	DXCM	DexCom Inc Sell-off Trend	Pair Corr
0.45	LH	Laboratory	Pair Corr
0.42	GH	Guardant Health	Pair Corr
0.39	EUDA	EUDA Health Holdings	Pair Corr
0.38	ABT	Abbott Laboratories Sell-off Trend	Pair Corr
0.37	WORX	Scworx Corp	Pair Corr
0.82	BSX	Boston Scientific Corp Sell-off Trend	Pair Corr
0.81	WGS	GeneDx Holdings Corp	Pair Corr
0.62	SYK	Stryker	Pair Corr
0.61	FOXO	FOXO Technologies	Pair Corr
0.61	VMD	Viemed Healthcare	Pair Corr
0.58	CAH	Cardinal Health	Pair Corr
0.51	XAIR	Beyond Air	Pair Corr
0.5	BVS	Bioventus	Pair Corr

Related Correlations Analysis

	MLSS	PRTS	OCX	APT	INFU
MLSS		-0.21	0.39	0.44	-0.58	MLSS
PRTS	-0.21		-0.75	-0.68	0.63	PRTS
OCX	0.39	-0.75		0.7	-0.76	OCX
APT	0.44	-0.68	0.7		-0.7	APT
INFU	-0.58	0.63	-0.76	-0.7		INFU
	MLSS	PRTS	OCX	APT	INFU

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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

APT	+ 0.7	OCX
INFU	+ 0.63	PRTS
APT	+ 0.44	MLSS
OCX	+ 0.39	MLSS

High negative correlations

INFU	- 0.76	OCX
OCX	- 0.75	PRTS
INFU	- 0.7	APT
APT	- 0.68	PRTS
INFU	- 0.58	MLSS
PRTS	- 0.21	MLSS

Risk-Adjusted Indicators

There is a big difference between Retractable Stock performing well and Retractable Technologies 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 Retractable Technologies' 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
MLSS	3.35	0.05	0.01	0.18	3.61	(4.61)	9.68	(7.89)	27.59
PRTS	3.25	0.37	0.05	(1.43)	3.15	(4.47)	9.68	(5.38)	16.84
OCX	2.29	(0.29)	0.00	(34.18)	0.00	0.00	4.59	(4.76)	18.12
APT	1.55	(0.23)	0.00	(0.88)	0.00	0.00	2.94	(3.37)	9.10
INFU	2.96	0.33	0.13	0.32	2.72	(3.39)	6.79	(4.81)	22.10

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