Baird Medical Correlations

BDMDW Stock

0.10 0.04 58.73%

The current 90-days correlation between Baird Medical Investment and NETGEAR is -0.04 (i.e., Good diversification). The correlation of Baird 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.

Baird Medical Correlation With Market

Average diversification

The correlation between Baird Medical Investment 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 Baird Medical Investment 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 Baird Medical Investment. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Baird Stock

0.63

BDMD

Baird Medical Investment Trending

Pair Corr

Moving against Baird Stock

0.78	UPB	Upstream Bio,	Pair Corr
0.75	NAYA	NAYA Biosciences, Symbol Change	Pair Corr
0.69	CBLL	CeriBell,	Pair Corr
0.68	ZBIO	Zenas BioPharma, Common Downward Rally	Pair Corr
0.56	BSGM	BioSig Technologies,	Pair Corr
0.53	DHAIW	DIH Holding US,	Pair Corr
0.51	ATR	AptarGroup	Pair Corr
0.38	GELS	Gelteq Limited Ordinary	Pair Corr
0.36	GRCE	Grace Therapeutics, Symbol Change	Pair Corr
0.72	JUNS	Jupiter Neurosciences,	Pair Corr
0.68	OMIC	Singular Genomics Systems	Pair Corr
0.66	OKUR	OnKure Therapeutics, Symbol Change	Pair Corr
0.53	TTOO	T2 Biosystms	Pair Corr
0.41	MTVA	MetaVia Symbol Change	Pair Corr
0.36	AVGR	Avinger Earnings Call Tomorrow	Pair Corr
0.33	PLRZ	Polyrizon Ordinary	Pair Corr

Related Correlations Analysis

	NTGR	DGII	ATEX	TTGT	WB	ESPR	TMCI
NTGR		0.48	-0.4	0.21	-0.21	0.0	0.3	NTGR
DGII	0.48		0.18	0.22	0.46	0.2	0.41	DGII
ATEX	-0.4	0.18		-0.55	0.7	-0.35	0.19	ATEX
TTGT	0.21	0.22	-0.55		-0.43	0.88	-0.46	TTGT
WB	-0.21	0.46	0.7	-0.43		-0.34	0.43	WB
ESPR	0.0	0.2	-0.35	0.88	-0.34		-0.45	ESPR
TMCI	0.3	0.41	0.19	-0.46	0.43	-0.45		TMCI
	NTGR	DGII	ATEX	TTGT	WB	ESPR	TMCI

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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

ESPR	+ 0.88	TTGT
WB	+ 0.7	ATEX
DGII	+ 0.48	NTGR
WB	+ 0.46	DGII
TMCI	+ 0.43	WB
TMCI	+ 0.41	DGII

High negative correlations

TTGT	- 0.55	ATEX
TMCI	- 0.46	TTGT
TMCI	- 0.45	ESPR
WB	- 0.43	TTGT
ATEX	- 0.4	NTGR
ESPR	- 0.35	ATEX

Risk-Adjusted Indicators

There is a big difference between Baird Stock performing well and Baird 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 Baird 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
NTGR	2.20	0.08	0.00	(0.02)	0.00	0.00	4.41	(5.11)	12.12
DGII	1.93	(0.02)	0.00	(0.13)	0.00	0.00	3.38	(4.09)	21.42
ATEX	2.24	0.41	0.17	0.17	1.95	(3.08)	3.98	(3.32)	30.60
TTGT	2.31	(0.87)	0.00	(1.16)	0.00	0.00	3.13	(5.30)	14.70
WB	2.27	0.13	0.09	(2.65)	2.64	(2.29)	5.09	(4.94)	13.46
ESPR	3.48	(1.19)	0.00	2.66	0.00	0.00	6.29	(11.51)	30.68
TMCI	2.64	0.24	0.06	0.04	2.66	(3.43)	8.14	(4.19)	20.40

Baird Medical Corporate Executives

Elected by the shareholders, the Baird Medical's board of directors comprises two types of representatives: Baird Medical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Baird. The board's role is to monitor Baird Medical's management team and ensure that shareholders' interests are well served. Baird 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, Baird Medical's outside directors are responsible for providing unbiased perspectives on the board's policies.

Rongjian Lu

CTO GM

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