Apyx Medical Correlations

APYX Stock

USD 1.16 0.07 6.42%

The current 90-days correlation between Apyx Medical and Pulmonx Corp is -0.07 (i.e., Good diversification). The correlation of Apyx 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.

Apyx Medical Correlation With Market

Weak diversification

The correlation between Apyx Medical and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apyx Medical and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Apyx 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 manufacturing.

For more information on how to buy Apyx Stock please use our How to Invest in Apyx Medical guide.

Moving together with Apyx Stock

0.71	EYEN	Eyenovia	Pair Corr
0.74	LNDNF	Lundin Energy AB	Pair Corr
0.64	AXP	American Express	Pair Corr
0.85	HPQ	HP Inc	Pair Corr
0.8	DIS	Walt Disney	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr

Moving against Apyx Stock

0.89	CMRX	Chimerix Sell-off Trend	Pair Corr
0.78	JNJ	Johnson Johnson	Pair Corr
0.72	NVRO	Nevro Corp	Pair Corr
0.7	T	ATT Inc Earnings Call This Week	Pair Corr
0.68	VZ	Verizon Communications	Pair Corr
0.54	BKLRF	Berkeley Energy	Pair Corr
0.54	CVX	Chevron Corp	Pair Corr
0.53	IBM	International Business	Pair Corr
0.5	MCD	McDonalds	Pair Corr
0.45	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.41	CSCO	Cisco Systems	Pair Corr
0.34	INTC	Intel	Pair Corr

Related Correlations Analysis

	RXST	AXGN	LUNG	OFIX	KIDS	ITGR	CNMD	ESTA	SGHT	FNA
RXST		-0.62	-0.66	0.47	-0.45	0.68	0.84	0.24	0.77	-0.67	RXST
AXGN	-0.62		0.43	0.15	0.49	-0.06	-0.42	-0.58	-0.72	0.6	AXGN
LUNG	-0.66	0.43		-0.45	-0.07	-0.69	-0.83	0.08	-0.53	0.52	LUNG
OFIX	0.47	0.15	-0.45		0.15	0.87	0.56	-0.48	0.05	0.02	OFIX
KIDS	-0.45	0.49	-0.07	0.15		0.12	-0.14	-0.5	-0.48	0.26	KIDS
ITGR	0.68	-0.06	-0.69	0.87	0.12		0.77	-0.34	0.35	-0.34	ITGR
CNMD	0.84	-0.42	-0.83	0.56	-0.14	0.77		0.02	0.69	-0.65	CNMD
ESTA	0.24	-0.58	0.08	-0.48	-0.5	-0.34	0.02		0.58	-0.52	ESTA
SGHT	0.77	-0.72	-0.53	0.05	-0.48	0.35	0.69	0.58		-0.87	SGHT
FNA	-0.67	0.6	0.52	0.02	0.26	-0.34	-0.65	-0.52	-0.87		FNA
	RXST	AXGN	LUNG	OFIX	KIDS	ITGR	CNMD	ESTA	SGHT	FNA

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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

ITGR	+ 0.87	OFIX
CNMD	+ 0.84	RXST
SGHT	+ 0.77	RXST
CNMD	+ 0.77	ITGR
SGHT	+ 0.69	CNMD
ITGR	+ 0.68	RXST

High negative correlations

FNA	- 0.87	SGHT
CNMD	- 0.83	LUNG
SGHT	- 0.72	AXGN
ITGR	- 0.69	LUNG
FNA	- 0.67	RXST
LUNG	- 0.66	RXST

Risk-Adjusted Indicators

There is a big difference between Apyx Stock performing well and Apyx 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 Apyx 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
RXST	2.20	(0.53)	0.00	(0.70)	0.00	0.00	3.73	(5.04)	15.79
AXGN	2.68	0.41	0.16	0.42	2.46	(3.74)	5.97	(3.56)	21.80
LUNG	3.35	0.40	0.13	(1.90)	3.33	(3.75)	6.59	(5.54)	41.39
OFIX	1.24	(0.09)	0.00	(0.18)	0.00	0.00	2.18	(2.74)	6.60
KIDS	1.92	0.23	0.10	0.17	2.18	(2.09)	3.54	(3.39)	15.28
ITGR	1.10	(0.16)	0.00	(0.24)	0.00	0.00	1.68	(2.80)	8.30
CNMD	1.66	(0.25)	0.00	(0.40)	0.00	0.00	3.52	(3.53)	13.79
ESTA	3.78	0.02	0.00	(0.06)	0.00	0.00	7.41	(8.29)	31.96
SGHT	3.37	(0.23)	0.00	(0.30)	0.00	0.00	7.19	(6.05)	24.66
FNA	1.22	0.35	0.25	2.68	1.10	(1.58)	3.78	(3.09)	8.63

Apyx Medical Corporate Executives

Elected by the shareholders, the Apyx Medical's board of directors comprises two types of representatives: Apyx Medical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Apyx. The board's role is to monitor Apyx Medical's management team and ensure that shareholders' interests are well served. Apyx Medical's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Apyx Medical's outside directors are responsible for providing unbiased perspectives on the board's policies.

Tara Semb

Treasurer CFO

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