Shockwave Medical Correlations
| SWAVDelisted Stock | USD 268.45 6.44 2.34% |
The current 90-days correlation between Shockwave Medical and Inari Medical is -0.05 (i.e., Good diversification). The correlation of Shockwave 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Shockwave Medical Correlation With Market
Significant diversification
The correlation between Shockwave Medical and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shockwave Medical and DJI in the same portfolio, assuming nothing else is changed.
Shockwave |
Moving against Shockwave Stock
| 0.45 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.39 | HPQ | HP Inc Fiscal Year End 19th of November 2024 | PairCorr |
| 0.38 | CPA | Copa Holdings SA | PairCorr |
| 0.32 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
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Risk-Adjusted Indicators
There is a big difference between Shockwave Stock performing well and Shockwave 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 Shockwave 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NARI | 2.07 | (0.33) | 0.00 | (1.62) | 0.00 | 5.00 | 13.86 | |||
| OM | 5.61 | (1.77) | 0.00 | 0.74 | 0.00 | 15.09 | 69.67 | |||
| CLPT | 3.81 | 0.60 | 0.26 | 0.24 | 2.82 | 10.14 | 47.70 | |||
| INSP | 2.58 | 0.59 | 0.19 | (71.27) | 2.15 | 6.22 | 33.62 | |||
| PEN | 2.11 | 0.11 | 0.02 | 0.51 | 2.51 | 4.63 | 17.29 | |||
| PODD | 1.57 | 0.27 | 0.10 | 0.50 | 2.10 | 3.48 | 13.75 | |||
| TMDX | 2.55 | (0.39) | 0.00 | (0.16) | 0.00 | 6.42 | 18.73 | |||
| MASI | 1.72 | 0.38 | 0.22 | 1.28 | 1.19 | 5.28 | 14.76 | |||
| ALGN | 2.01 | (0.31) | 0.00 | (0.09) | 0.00 | 4.22 | 11.47 |
Shockwave Medical Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Shockwave Medical stock to make a market-neutral strategy. Peer analysis of Shockwave Medical could also be used in its relative valuation, which is a method of valuing Shockwave Medical by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Shockwave Medical Corporate Management
| Isaac Zacharias | Chief Officer | Profile | |
| Debbie Kaster | Vice Relations | Profile | |
| FACC FRCP | Chief Officer | Profile | |
| Rob Williamson | VP Sales | Profile | |
| Cathy Harnett | Senior Resources | Profile | |
| Hajime JD | General Secretary | Profile |
Still Interested in Shockwave Medical?
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