Electrocore LLC Correlations

ECOR Stock

USD 5.07 0.48 8.65%

The current 90-days correlation between Electrocore LLC and Neuroone Medical Technologies is 0.21 (i.e., Modest diversification). The correlation of Electrocore LLC 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.

Electrocore LLC Correlation With Market

Very weak diversification

The correlation between Electrocore LLC and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electrocore LLC and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Electrocore Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Electrocore LLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

To learn how to invest in Electrocore Stock, please use our How to Invest in Electrocore LLC guide.

Moving together with Electrocore Stock

0.65	TRLS	Trellus Health plc	Pair Corr
0.7	TLT	Theralase Technologies	Pair Corr
0.8	IMR	Imricor Medical Systems	Pair Corr
0.77	EYE	Nova EYE Medical	Pair Corr

Moving against Electrocore Stock

0.58	RHT	Resonance Health	Pair Corr
0.49	NTI	Neurotech International	Pair Corr
0.43	2DR	Inspire Medical Systems Earnings Call This Week	Pair Corr
0.42	IHC	Inspiration Healthcare	Pair Corr
0.34	HAE	Haemonetics	Pair Corr
0.31	XTNT	Xtant Medical Holdings	Pair Corr
0.69	NSPR	InspireMD	Pair Corr
0.58	MMSI	Merit Medical Systems	Pair Corr
0.31	MBOT	Microbot Medical	Pair Corr

Related Correlations Analysis

	NMTC	YI	MYO	HYPD	RNXT	ZYXI	MAIA	RBOT	BTAI	PYPD
NMTC		0.37	0.22	-0.35	0.55	-0.66	0.73	-0.23	-0.22	0.83	NMTC
YI	0.37		-0.32	-0.06	0.34	-0.25	0.56	-0.04	-0.34	0.39	YI
MYO	0.22	-0.32		-0.43	0.35	-0.1	0.18	-0.22	0.42	0.35	MYO
HYPD	-0.35	-0.06	-0.43		0.07	0.66	-0.52	0.86	0.06	-0.6	HYPD
RNXT	0.55	0.34	0.35	0.07		-0.05	0.35	0.32	0.24	0.46	RNXT
ZYXI	-0.66	-0.25	-0.1	0.66	-0.05		-0.64	0.71	0.5	-0.74	ZYXI
MAIA	0.73	0.56	0.18	-0.52	0.35	-0.64		-0.43	-0.31	0.85	MAIA
RBOT	-0.23	-0.04	-0.22	0.86	0.32	0.71	-0.43		0.3	-0.52	RBOT
BTAI	-0.22	-0.34	0.42	0.06	0.24	0.5	-0.31	0.3		-0.24	BTAI
PYPD	0.83	0.39	0.35	-0.6	0.46	-0.74	0.85	-0.52	-0.24		PYPD
	NMTC	YI	MYO	HYPD	RNXT	ZYXI	MAIA	RBOT	BTAI	PYPD

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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

RBOT	+ 0.86	HYPD
PYPD	+ 0.85	MAIA
PYPD	+ 0.83	NMTC
MAIA	+ 0.73	NMTC
RBOT	+ 0.71	ZYXI
ZYXI	+ 0.66	HYPD

High negative correlations

PYPD	- 0.74	ZYXI
ZYXI	- 0.66	NMTC
MAIA	- 0.64	ZYXI
PYPD	- 0.6	HYPD
PYPD	- 0.52	RBOT
MAIA	- 0.52	HYPD

Risk-Adjusted Indicators

There is a big difference between Electrocore Stock performing well and Electrocore LLC 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 Electrocore LLC'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
NMTC	3.86	(0.06)	0.00	0.01	4.31	(4.75)	9.59	(7.04)	23.46
YI	4.95	1.10	0.23	3.02	4.07	(7.36)	15.20	(8.04)	47.07
MYO	3.89	(0.26)	0.00	(0.07)	0.00	0.00	8.79	(7.61)	21.89
HYPD	6.43	(0.62)	0.00	(0.41)	0.00	0.00	16.48	(11.49)	34.90
RNXT	4.12	(0.17)	0.00	(0.03)	0.00	0.00	8.33	(6.54)	29.68
ZYXI	14.00	(2.57)	0.00	(0.62)	0.00	0.00	29.17	(31.58)	163.35
MAIA	5.97	0.95	0.12	5.16	7.41	(6.29)	12.60	(10.75)	45.94
RBOT	4.82	(1.35)	0.00	(0.51)	0.00	0.00	11.90	(9.09)	36.01
BTAI	4.01	(0.48)	0.00	(14.80)	0.00	0.00	8.90	(8.05)	22.34
PYPD	1.94	0.20	0.07	0.34	2.30	(2.23)	4.79	(4.53)	14.82

Electrocore LLC Corporate Management

Joshua Lev	Chief Officer	Profile
Jackie Dorsky	VP Marketing	Profile
Manuel Marques	Senior Operations	Profile
Carrie Kochek	Senior Resources	Profile
Donald Melnikoff	Regulatory Engineering	Profile
Michael Mansfield	Vice Marketing	Profile

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