SurModics Correlations

SRDX Stock

USD 30.21 0.41 1.34%

The current 90-days correlation between SurModics and Neuropace is 0.11 (i.e., Average diversification). The correlation of SurModics 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.

SurModics Correlation With Market

Significant diversification

The correlation between SurModics and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SurModics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SurModics Stock

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

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

Moving together with SurModics Stock

0.68

MDAI

Spectral AI

Pair Corr

Moving against SurModics Stock

0.45	CI	Cigna Corp	Pair Corr
0.56	EKSO	Ekso Bionics Holdings	Pair Corr
0.55	ELMD	Electromed	Pair Corr
0.53	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.51	EMBC	Embecta Corp	Pair Corr
0.46	EDAP	EDAP TMS SA	Pair Corr
0.43	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.62	MODD	Modular Medical	Pair Corr
0.6	MNDR	Mobile health Network	Pair Corr
0.57	MLSS	Milestone Scientific	Pair Corr
0.52	NXLIW	Nexalin Technology	Pair Corr
0.5	NAOV	NanoVibronix	Pair Corr
0.31	MXCT	MaxCyte	Pair Corr

Related Correlations Analysis

	NPCE	CVRX	OFIX	AORT	ANGO	MMSI	CNMD	ICUI
NPCE		-0.14	0.06	-0.01	0.1	0.65	0.71	0.26	NPCE
CVRX	-0.14		0.15	-0.08	-0.37	-0.34	-0.14	-0.2	CVRX
OFIX	0.06	0.15		-0.87	-0.32	0.2	-0.13	0.63	OFIX
AORT	-0.01	-0.08	-0.87		0.14	0.01	0.26	-0.43	AORT
ANGO	0.1	-0.37	-0.32	0.14		0.24	0.28	-0.03	ANGO
MMSI	0.65	-0.34	0.2	0.01	0.24		0.71	0.59	MMSI
CNMD	0.71	-0.14	-0.13	0.26	0.28	0.71		0.38	CNMD
ICUI	0.26	-0.2	0.63	-0.43	-0.03	0.59	0.38		ICUI
	NPCE	CVRX	OFIX	AORT	ANGO	MMSI	CNMD	ICUI

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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

CNMD	+ 0.71	NPCE
CNMD	+ 0.71	MMSI
MMSI	+ 0.65	NPCE
ICUI	+ 0.63	OFIX
ICUI	+ 0.59	MMSI
ICUI	+ 0.38	CNMD

High negative correlations

AORT	- 0.87	OFIX
ICUI	- 0.43	AORT
ANGO	- 0.37	CVRX
MMSI	- 0.34	CVRX
ANGO	- 0.32	OFIX
ICUI	- 0.2	CVRX

Risk-Adjusted Indicators

There is a big difference between SurModics Stock performing well and SurModics 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 SurModics' 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
NPCE	3.11	(0.11)	0.00	(20.60)	0.00	0.00	5.22	(5.92)	48.86
CVRX	4.29	0.32	0.06	0.29	7.34	(4.61)	11.74	(5.03)	50.43
OFIX	1.78	(0.53)	0.00	(0.23)	0.00	0.00	3.87	(3.75)	14.80
AORT	1.46	0.40	0.22	1.43	1.03	(1.83)	3.50	(2.03)	18.73
ANGO	2.17	(0.31)	0.00	(0.11)	0.00	0.00	5.05	(4.32)	23.06
MMSI	1.17	(0.27)	0.00	(0.21)	0.00	0.00	2.53	(2.15)	14.94
CNMD	1.99	(0.26)	0.00	(0.04)	0.00	0.00	3.82	(4.07)	20.87
ICUI	1.68	(0.32)	0.00	(0.19)	0.00	0.00	3.69	(3.98)	11.56

SurModics Corporate Management

Charles Olson	Sr. VP and General Manager of Medical Device	Profile
Timothy Arens	VP of Corporate Devel. and Strategy	Profile
Joseph Stich	VP and General Manager of In-Vitro Diagnostics	Profile
Gordon JD	General Legal	Profile
Gordon Weber	General Legal	Profile

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