Sight Sciences Correlations

SGHT Stock

USD 8.43 0.03 0.35%

The current 90-days correlation between Sight Sciences and CVRx Inc is 0.3 (i.e., Weak diversification). The correlation of Sight Sciences 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.

Sight Sciences Correlation With Market

Very weak diversification

The correlation between Sight Sciences and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sight Sciences and DJI in the same portfolio, assuming nothing else is changed.

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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sight Sciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

For more information on how to buy Sight Stock please use our How to Invest in Sight Sciences guide.

Moving together with Sight Stock

0.86	688656	HOB Biotech Group	Pair Corr
0.82	DHR	Danaher	Pair Corr
0.61	OFIX	Orthofix Medical	Pair Corr
0.7	PROF	Profound Medical Corp	Pair Corr
0.72	002432	Andon Health	Pair Corr
0.92	SIBN	Si Bone Potential Growth	Pair Corr
0.69	BFLY	Butterfly Network	Pair Corr

Moving against Sight Stock

0.9	OM	Outset Medical	Pair Corr
0.86	CREO	Creo Medical Group	Pair Corr
0.83	ICCM	Icecure Medical	Pair Corr
0.8	AHG	Akso Health Group	Pair Corr
0.8	MHC	MyHealthChecked Plc	Pair Corr
0.78	XRAY	Dentsply Sirona	Pair Corr
0.75	MBOT	Microbot Medical	Pair Corr
0.7	IHC	Inspiration Healthcare	Pair Corr
0.62	688151	Hubei Huaqiang High	Pair Corr
0.55	PIIIW	P3 Health Partners	Pair Corr
0.54	TNONW	Tenon Medical, Warrant	Pair Corr
0.5	TRLS	Trellus Health plc	Pair Corr
0.44	WOK	WORK Medical Technology	Pair Corr
0.42	AVR	Anteris Technologies Upward Rally	Pair Corr
0.4	SYK	Stryker	Pair Corr
0.91	TMCI	Treace Medical Concepts	Pair Corr
0.9	UTMD	Utah Medical Products	Pair Corr
0.9	HCMC	Healthier Choices	Pair Corr
0.88	688050	Eyebright Medical	Pair Corr
0.73	RMTI	Rockwell Medical	Pair Corr
0.62	QIPT	Quipt Home Medical	Pair Corr
0.41	CMWCF	Cromwell Property	Pair Corr

Related Correlations Analysis

	CVRX	SENS	MASS	QTRX	SNWV	CERS	OMI	LFCR	VMD	PRQR
CVRX		-0.6	0.16	0.21	-0.59	0.33	-0.34	-0.32	-0.15	0.61	CVRX
SENS	-0.6		0.5	-0.4	0.52	-0.42	0.79	-0.31	0.4	0.1	SENS
MASS	0.16	0.5		-0.11	-0.08	0.0	0.51	-0.77	0.36	0.62	MASS
QTRX	0.21	-0.4	-0.11		-0.05	0.84	-0.59	0.26	0.46	-0.09	QTRX
SNWV	-0.59	0.52	-0.08	-0.05		-0.14	0.31	0.28	0.28	-0.34	SNWV
CERS	0.33	-0.42	0.0	0.84	-0.14		-0.66	0.16	0.28	-0.08	CERS
OMI	-0.34	0.79	0.51	-0.59	0.31	-0.66		-0.41	0.29	0.4	OMI
LFCR	-0.32	-0.31	-0.77	0.26	0.28	0.16	-0.41		-0.1	-0.65	LFCR
VMD	-0.15	0.4	0.36	0.46	0.28	0.28	0.29	-0.1		0.23	VMD
PRQR	0.61	0.1	0.62	-0.09	-0.34	-0.08	0.4	-0.65	0.23		PRQR
	CVRX	SENS	MASS	QTRX	SNWV	CERS	OMI	LFCR	VMD	PRQR

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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

CERS	+ 0.84	QTRX
OMI	+ 0.79	SENS
PRQR	+ 0.62	MASS
PRQR	+ 0.61	CVRX
SNWV	+ 0.52	SENS
OMI	+ 0.51	MASS

High negative correlations

LFCR	- 0.77	MASS
OMI	- 0.66	CERS
PRQR	- 0.65	LFCR
SENS	- 0.6	CVRX
OMI	- 0.59	QTRX
SNWV	- 0.59	CVRX

Risk-Adjusted Indicators

There is a big difference between Sight Stock performing well and Sight Sciences 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 Sight Sciences' 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
CVRX	2.69	(0.01)	0.02	0.06	3.39	(3.00)	5.02	(4.68)	18.59
SENS	3.73	(0.43)	0.00	(0.07)	0.00	0.00	6.19	(7.58)	39.02
MASS	3.25	0.22	0.06	0.24	3.96	(3.57)	7.04	(5.68)	22.01
QTRX	3.05	0.80	0.32	0.47	2.28	(3.95)	7.89	(3.99)	16.68
SNWV	3.40	(0.24)	0.00	(0.18)	0.00	0.00	8.32	(7.75)	30.64
CERS	3.71	0.51	0.15	0.26	3.58	(4.52)	6.54	(6.43)	30.94
OMI	3.21	(1.05)	0.00	(0.67)	0.00	0.00	4.75	(7.23)	28.63
LFCR	2.33	(0.06)	0.02	0.04	2.75	(2.68)	6.17	(3.80)	21.47
VMD	1.53	0.06	0.04	0.12	1.56	(1.89)	4.14	(2.64)	9.51
PRQR	3.71	(0.06)	(0.01)	0.03	4.33	(4.42)	9.43	(8.02)	19.56

Sight Sciences Corporate Management

MBA BS	VP Operations	Profile
Stacie Rodgers	VP HR	Profile
John Liu	VP Access	Profile
Stephen JD	Secretary	Profile
Reay MD	Chief Officer	Profile
Sam Park	Chief Officer	Profile

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