Penumbra Correlations

PEN Stock

USD 280.07 1.33 0.48%

The current 90-days correlation between Penumbra and Globus Medical is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Penumbra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Penumbra moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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Moving together with Penumbra Stock

0.61

BRK-A

Berkshire Hathaway

Pair Corr

Moving against Penumbra Stock

0.51	UEC	Uranium Energy Corp	Pair Corr
0.44	PATH	Uipath Inc	Pair Corr
0.41	CYCC	CYCC Old Symbol Change	Pair Corr
0.34	PLG	Platinum Group Metals	Pair Corr
0.63	MSFT	Microsoft Aggressive Push	Pair Corr
0.42	CAT	Caterpillar	Pair Corr
0.41	GE	GE Aerospace	Pair Corr
0.36	IBM	International Business	Pair Corr

Related Correlations Analysis

	GMED	BIO	ALGN	HQY	HIMS	DVA	CRL	HSIC	BAX
GMED		0.44	0.41	0.53	-0.64	-0.4	0.26	0.56	-0.62	GMED
BIO	0.44		0.22	0.33	-0.32	-0.49	0.94	-0.25	-0.37	BIO
ALGN	0.41	0.22		-0.17	-0.76	0.24	0.1	0.45	-0.01	ALGN
HQY	0.53	0.33	-0.17		-0.17	-0.54	0.19	0.17	-0.61	HQY
HIMS	-0.64	-0.32	-0.76	-0.17		0.09	-0.17	-0.54	0.39	HIMS
DVA	-0.4	-0.49	0.24	-0.54	0.09		-0.46	0.1	0.86	DVA
CRL	0.26	0.94	0.1	0.19	-0.17	-0.46		-0.42	-0.28	CRL
HSIC	0.56	-0.25	0.45	0.17	-0.54	0.1	-0.42		-0.28	HSIC
BAX	-0.62	-0.37	-0.01	-0.61	0.39	0.86	-0.28	-0.28		BAX
	GMED	BIO	ALGN	HQY	HIMS	DVA	CRL	HSIC	BAX

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

CRL	+ 0.94	BIO
BAX	+ 0.86	DVA
HSIC	+ 0.56	GMED
HQY	+ 0.53	GMED
HSIC	+ 0.45	ALGN
BIO	+ 0.44	GMED

High negative correlations

HIMS	- 0.76	ALGN
HIMS	- 0.64	GMED
BAX	- 0.62	GMED
BAX	- 0.61	HQY
HSIC	- 0.54	HIMS
DVA	- 0.54	HQY

Risk-Adjusted Indicators

There is a big difference between Penumbra Stock performing well and Penumbra 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 Penumbra'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
GMED	1.93	0.50	0.34	0.41	1.19	(2.63)	3.34	(2.24)	37.59
BIO	1.74	0.03	0.04	0.08	1.76	(2.21)	4.45	(3.17)	11.24
ALGN	1.61	(0.18)	0.00	(0.03)	0.00	0.00	3.43	(3.20)	10.94
HQY	1.58	0.18	0.09	0.26	1.73	(1.73)	3.59	(2.44)	13.90
HIMS	3.73	(0.38)	0.00	(0.13)	0.00	0.00	8.21	(7.38)	32.02
DVA	1.20	(0.20)	0.00	(0.20)	0.00	0.00	2.02	(2.51)	8.75
CRL	1.84	0.03	0.03	0.09	2.07	(2.10)	4.22	(3.76)	14.67
HSIC	1.25	0.04	0.01	0.12	1.34	(1.43)	2.43	(2.43)	13.49
BAX	1.64	(0.47)	0.00	(0.34)	0.00	0.00	2.91	(2.98)	18.10

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