Electromed Correlations

ELMD Stock

USD 28.50 0.23 0.80%

The current 90-days correlation between Electromed and Perspective Therapeutics is -0.15 (i.e., Good diversification). The correlation of Electromed 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.

Electromed Correlation With Market

Significant diversification

The correlation between Electromed and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electromed and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Electromed Stock

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

For information on how to trade Electromed Stock refer to our How to Trade Electromed Stock guide.

Moving together with Electromed Stock

0.61	SPEC	Inspecs Group plc	Pair Corr
0.72	688656	HOB Biotech Group	Pair Corr
0.74	EDAP	EDAP TMS SA	Pair Corr
0.7	BLCO	Bausch Lomb Corp	Pair Corr
0.65	BB1	Blinklab	Pair Corr
0.76	ESTA	Establishment Labs	Pair Corr
0.63	601089	Beijing Winsunny Pha	Pair Corr

Moving against Electromed Stock

0.78	688677	Qingdao NovelBeam	Pair Corr
0.78	688289	Sansure Biotech	Pair Corr
0.77	688606	Hangzhou Alltest Biotech	Pair Corr
0.73	OM	Outset Medical	Pair Corr
0.71	VNRX	Volitionrx	Pair Corr
0.59	VERO	Venus Concept	Pair Corr
0.54	IPD	Impedimed	Pair Corr
0.51	301363	MeHow Innovative	Pair Corr
0.4	300061	QITIAN Technology	Pair Corr
0.32	DYNT	Dynatronics	Pair Corr
0.31	600055	Beijing Wandong Medical	Pair Corr
0.79	OTC	Ocumetics Technology Corp	Pair Corr
0.76	VVOS	Vivos Therapeutics	Pair Corr
0.74	EMBC	Embecta Corp	Pair Corr
0.74	ENOV	Enovis Corp	Pair Corr
0.68	ELAB	Elevai Labs, Common	Pair Corr
0.4	ECOR	Electrocore LLC	Pair Corr
0.4	300453	Jiangxi Sanxin Medtec	Pair Corr
0.38	300358	Truking Technology	Pair Corr
0.36	POLX	Polarean Imaging Plc	Pair Corr
0.35	EKSO	Ekso Bionics Holdings	Pair Corr
0.32	002382	Blue Sail Medical	Pair Corr
0.8	XAIR	Beyond Air	Pair Corr
0.73	AHG	Akso Health Group	Pair Corr
0.62	688317	Shanghai ZJ Bio	Pair Corr
0.57	300482	Guangzhou Wondfo Biotech	Pair Corr
0.52	688338	Beijing Succeeder	Pair Corr
0.43	AHC	Austco Healthcare	Pair Corr

Related Correlations Analysis

	CATX	HSDT	NNOX	INGN	PROF	TLSI	OM	MXCT	INFU	VMD
CATX		0.77	0.42	0.66	-0.23	-0.29	0.55	0.16	0.02	0.27	CATX
HSDT	0.77		0.37	0.73	-0.52	-0.56	0.66	0.07	0.43	-0.05	HSDT
NNOX	0.42	0.37		0.56	-0.45	-0.05	0.43	0.57	0.02	0.06	NNOX
INGN	0.66	0.73	0.56		-0.63	-0.57	0.82	0.22	0.55	-0.05	INGN
PROF	-0.23	-0.52	-0.45	-0.63		0.65	-0.76	-0.3	-0.6	0.54	PROF
TLSI	-0.29	-0.56	-0.05	-0.57	0.65		-0.69	-0.06	-0.66	0.67	TLSI
OM	0.55	0.66	0.43	0.82	-0.76	-0.69		0.18	0.62	-0.26	OM
MXCT	0.16	0.07	0.57	0.22	-0.3	-0.06	0.18		-0.2	-0.04	MXCT
INFU	0.02	0.43	0.02	0.55	-0.6	-0.66	0.62	-0.2		-0.36	INFU
VMD	0.27	-0.05	0.06	-0.05	0.54	0.67	-0.26	-0.04	-0.36		VMD
	CATX	HSDT	NNOX	INGN	PROF	TLSI	OM	MXCT	INFU	VMD

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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

OM	+ 0.82	INGN
HSDT	+ 0.77	CATX
INGN	+ 0.73	HSDT
VMD	+ 0.67	TLSI
INGN	+ 0.66	CATX
OM	+ 0.66	HSDT

High negative correlations

OM	- 0.76	PROF
OM	- 0.69	TLSI
INFU	- 0.66	TLSI
PROF	- 0.63	INGN
INFU	- 0.6	PROF
TLSI	- 0.57	INGN

Risk-Adjusted Indicators

There is a big difference between Electromed Stock performing well and Electromed 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 Electromed'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
CATX	4.31	0.02	0.00	0.05	0.00	0.00	8.14	(7.83)	54.86
HSDT	6.64	(2.17)	0.00	(1.95)	0.00	0.00	11.88	(13.17)	50.13
NNOX	3.83	(0.43)	0.00	(0.15)	0.00	0.00	9.44	(6.06)	36.87
INGN	1.75	(0.28)	0.00	4.54	0.00	0.00	3.06	(3.89)	12.55
PROF	3.28	0.49	0.17	0.25	3.19	(4.05)	7.87	(4.66)	23.23
TLSI	3.05	0.72	0.18	(14.50)	3.05	(3.81)	8.30	(5.50)	21.19
OM	4.20	(1.97)	0.00	(1.65)	0.00	0.00	6.11	(10.93)	65.67
MXCT	3.63	(0.16)	(0.02)	0.00	4.50	(3.86)	8.67	(7.39)	22.89
INFU	2.11	(0.21)	0.00	0.71	0.00	0.00	4.34	(4.07)	15.71
VMD	1.36	0.06	0.03	0.14	1.51	(1.63)	3.00	(2.64)	8.08

Electromed Corporate Management

Amy Yanta	Quality Affairs	Profile
Brad Nagel	Chief Officer	Profile
Diane Kaufman	Vice Resources	Profile
William George	Secretary	Profile
Christopher Holland	Chief Officer	Profile

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