Avinger Correlations

Summary

AVGRDelisted Stock

USD 0.47 0.09 16.07%

The current 90-days correlation between Avinger and Nexgel Inc is -0.15 (i.e., Good diversification). The correlation of Avinger 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.

Avinger Correlation With Market

Good diversification

The correlation between Avinger and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avinger and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Avinger Stock

0.61

GRCE

Grace Therapeutics, Symbol Change

Pair Corr

Moving against Avinger Stock

0.58	YCBD-PA	cbdMD Inc	Pair Corr
0.57	EPRX	Eupraxia Pharmaceuticals	Pair Corr
0.57	KDLYW	Kindly MD, Warrants	Pair Corr
0.53	AVR	Anteris Technologies	Pair Corr
0.47	STRRP	Star Equity Holdings Earnings Call This Week	Pair Corr
0.43	PWUPU	PowerUp Acquisition Corp	Pair Corr
0.36	BDMDW	Baird Medical Investment	Pair Corr
0.67	MPLN	MULTIPLAN P Symbol Change	Pair Corr
0.61	NARI	Inari Medical	Pair Corr
0.61	PVLA	Palvella Therapeutics, Symbol Change	Pair Corr
0.6	MRNS	Marinus Pharmaceuticals	Pair Corr
0.49	RHE-PA	Regional Health Prop	Pair Corr
0.47	HROWM	Harrow Health, 11875	Pair Corr
0.44	XOMAO	XOMA	Pair Corr
0.43	MDCX	Medicus Pharma	Pair Corr
0.39	SLXNW	Biomotion Sciences	Pair Corr
0.32	BLACR	Bellevue Life Sciences	Pair Corr

Related Correlations Analysis

	GCTK	NXGL	STSS	LUCY	ANGO	ATRC	AKYA	ATR	ICUI	MLSS
GCTK		0.81	0.85	0.65	-0.39	-0.74	0.32	0.73	0.24	-0.55	GCTK
NXGL	0.81		0.66	0.58	-0.23	-0.57	0.39	0.59	0.35	-0.44	NXGL
STSS	0.85	0.66		0.8	-0.08	-0.66	0.51	0.68	0.38	-0.35	STSS
LUCY	0.65	0.58	0.8		0.18	-0.22	0.76	0.74	0.72	0.01	LUCY
ANGO	-0.39	-0.23	-0.08	0.18		0.6	0.66	-0.13	0.58	0.85	ANGO
ATRC	-0.74	-0.57	-0.66	-0.22	0.6		0.15	-0.4	0.31	0.79	ATRC
AKYA	0.32	0.39	0.51	0.76	0.66	0.15		0.46	0.83	0.5	AKYA
ATR	0.73	0.59	0.68	0.74	-0.13	-0.4	0.46		0.41	-0.28	ATR
ICUI	0.24	0.35	0.38	0.72	0.58	0.31	0.83	0.41		0.45	ICUI
MLSS	-0.55	-0.44	-0.35	0.01	0.85	0.79	0.5	-0.28	0.45		MLSS
	GCTK	NXGL	STSS	LUCY	ANGO	ATRC	AKYA	ATR	ICUI	MLSS

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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

STSS	+ 0.85	GCTK
MLSS	+ 0.85	ANGO
ICUI	+ 0.83	AKYA
NXGL	+ 0.81	GCTK
LUCY	+ 0.8	STSS
MLSS	+ 0.79	ATRC

High negative correlations

ATRC	- 0.74	GCTK
ATRC	- 0.66	STSS
ATRC	- 0.57	NXGL
MLSS	- 0.55	GCTK
MLSS	- 0.44	NXGL
ATR	- 0.4	ATRC

Risk-Adjusted Indicators

There is a big difference between Avinger Stock performing well and Avinger 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 Avinger'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
GCTK	8.91	(2.89)	0.00	(7.01)	0.00	0.00	19.55	(24.47)	77.82
NXGL	3.97	(0.01)	0.00	(0.12)	0.00	0.00	9.22	(7.95)	27.48
STSS	8.62	(1.58)	0.00	0.57	0.00	0.00	19.35	(18.18)	76.46
LUCY	4.21	(0.61)	0.00	(0.63)	0.00	0.00	7.18	(9.27)	28.66
ANGO	3.27	0.59	0.20	1.05	2.86	(4.26)	4.93	(4.95)	46.09
ATRC	2.15	0.12	0.03	(0.01)	3.02	(2.09)	4.56	(4.77)	16.13
AKYA	3.88	(0.44)	0.00	2.29	0.00	0.00	6.61	(7.04)	25.17
ATR	0.91	(0.14)	0.00	(0.29)	0.00	0.00	1.46	(1.87)	10.88
ICUI	1.73	0.00	0.00	(0.11)	0.00	0.00	3.44	(3.61)	12.19
MLSS	4.01	0.31	0.06	0.23	4.70	(4.63)	7.63	(8.11)	37.01

View Avinger Related Equities

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Risk & Return

Correlation

Avinger Corporate Management

Keith Schaefer	Chief Officer	Profile
Corey Gibbs	Vice Sales	Profile
Nabeel CPA	Principal Finance	Profile
Nabeel Subainati	Principal Finance	Profile
Himanshu Patel	Chief Officer	Profile
MD FACC	Chief Officer	Profile

Still Interested in Avinger?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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