Outset Medical Correlations

OM Stock

USD 3.29 0.03 0.90%

The current 90-days correlation between Outset Medical and Helius Medical Technologies is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Outset Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Outset Medical moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Outset Medical Correlation With Market

Average diversification

The correlation between Outset Medical and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Outset Medical and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Outset Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Outset Medical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

To learn how to invest in Outset Stock, please use our How to Invest in Outset Medical guide.

Moving together with Outset Stock

0.74	300061	QITIAN Technology	Pair Corr
0.78	301363	MeHow Innovative	Pair Corr
0.64	600055	Beijing Wandong Medical	Pair Corr
0.79	688677	Qingdao NovelBeam	Pair Corr
0.88	VERO	Venus Concept	Pair Corr
0.62	688289	Sansure Biotech	Pair Corr
0.86	VNRX	Volitionrx	Pair Corr
0.88	VVOS	Vivos Therapeutics	Pair Corr
0.91	OTC	Ocumetics Technology Corp	Pair Corr
0.66	ELAB	Elevai Labs, Common	Pair Corr
0.61	EMBC	Embecta Corp	Pair Corr
0.77	ENOV	Enovis Corp	Pair Corr
0.75	POLX	Polarean Imaging Plc	Pair Corr

Moving against Outset Stock

0.87	SPEC	Inspecs Group plc	Pair Corr
0.83	EW	Edwards Lifesciences Corp	Pair Corr
0.83	688656	HOB Biotech Group	Pair Corr
0.79	ELMD	Electromed	Pair Corr
0.69	BLCO	Bausch Lomb Corp	Pair Corr
0.39	EDAP	EDAP TMS SA	Pair Corr
0.92	ESTA	Establishment Labs	Pair Corr
0.9	FIGS	Figs Inc	Pair Corr
0.83	BB1	Blinklab	Pair Corr
0.78	ALC	Alcon AG	Pair Corr
0.7	FEMY	Femasys	Pair Corr
0.7	688198	Beijing Balance Medical	Pair Corr

Related Correlations Analysis

	SNWV	HSDT	NNOX	INGN	QTRX	CATX	VMD	OMI	TNYA	SI
SNWV		0.49	0.33	0.2	0.03	0.24	0.07	0.21	0.23	0.02	SNWV
HSDT	0.49		0.46	0.74	-0.44	0.76	-0.06	0.72	0.69	-0.18	HSDT
NNOX	0.33	0.46		0.58	0.11	0.44	0.06	0.48	0.62	0.07	NNOX
INGN	0.2	0.74	0.58		-0.53	0.68	-0.08	0.95	0.75	-0.02	INGN
QTRX	0.03	-0.44	0.11	-0.53		-0.23	0.64	-0.56	-0.42	0.23	QTRX
CATX	0.24	0.76	0.44	0.68	-0.23		0.22	0.66	0.63	-0.13	CATX
VMD	0.07	-0.06	0.06	-0.08	0.64	0.22		-0.04	-0.34	0.16	VMD
OMI	0.21	0.72	0.48	0.95	-0.56	0.66	-0.04		0.66	-0.04	OMI
TNYA	0.23	0.69	0.62	0.75	-0.42	0.63	-0.34	0.66		-0.1	TNYA
SI	0.02	-0.18	0.07	-0.02	0.23	-0.13	0.16	-0.04	-0.1		SI
	SNWV	HSDT	NNOX	INGN	QTRX	CATX	VMD	OMI	TNYA	SI

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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

OMI	+ 0.95	INGN
CATX	+ 0.76	HSDT
TNYA	+ 0.75	INGN
INGN	+ 0.74	HSDT
OMI	+ 0.72	HSDT
TNYA	+ 0.69	HSDT

High negative correlations

OMI	- 0.56	QTRX
QTRX	- 0.53	INGN
QTRX	- 0.44	HSDT
TNYA	- 0.42	QTRX
TNYA	- 0.34	VMD
CATX	- 0.23	QTRX

Risk-Adjusted Indicators

There is a big difference between Outset Stock performing well and Outset 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 Outset 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
SNWV	3.37	(0.19)	0.00	(0.10)	0.00	0.00	8.32	(7.75)	30.64
HSDT	6.64	(2.43)	0.00	(0.60)	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	1.77	(0.38)	0.00	(0.36)	0.00	0.00	3.06	(3.89)	12.55
QTRX	2.90	0.23	0.10	0.21	2.60	(3.77)	7.61	(4.89)	17.58
CATX	4.37	0.11	(0.01)	(0.03)	6.69	(4.55)	8.14	(7.83)	54.86
VMD	1.36	0.06	0.03	0.14	1.51	(1.63)	3.00	(2.64)	8.08
OMI	3.28	(0.99)	0.00	(0.74)	0.00	0.00	4.75	(8.33)	24.90
TNYA	5.52	(0.76)	0.00	(0.17)	0.00	0.00	11.41	(11.04)	54.79
SI	9.89	3.37	0.25	2.34	10.12	(12.41)	7.30	(5.78)	354.03

Outset Medical Corporate Management

Laura Romike	Executive Marketing	Profile
Jennifer Sipple	Senior Experience	Profile
Stacey Porter	Chief Officer	Profile
Mark MS	Chief Officer	Profile
Steven Williamson	Chief Officer	Profile
Marc Nash	Operations RD	Profile

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