CVRx Correlations

CVRX Stock

USD 15.09 0.60 4.14%

The correlation of CVRx 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.

CVRx Correlation With Market

Modest diversification

The correlation between CVRx Inc and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CVRx Inc 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 CVRx Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with CVRx Stock

0.68	ELMD	Electromed	Pair Corr
0.82	INGN	Inogen Inc	Pair Corr
0.66	IRMD	Iradimed	Pair Corr
0.75	ITGR	Integer Holdings Corp	Pair Corr
0.8	KIDS	Orthopediatrics Corp	Pair Corr
0.7	A	Agilent Technologies Earnings Call This Week	Pair Corr

Moving against CVRx Stock

0.5	SRDX	SurModics	Pair Corr
0.47	DSGN	Design Therapeutics	Pair Corr
0.46	ERAS	Erasca Inc	Pair Corr
0.35	FDMT	4D Molecular Therapeutics	Pair Corr
0.34	CGC	Canopy Growth Corp	Pair Corr
0.52	MLYS	Mineralys Therapeutics,	Pair Corr
0.52	MRSN	Mersana Therapeutics	Pair Corr
0.49	MREO	Mereo BioPharma Group	Pair Corr
0.31	GLUE	Monte Rosa Therapeutics	Pair Corr

Related Correlations Analysis

	OSA	LIVN	ELMD	KIDS	SRDX	LUNG	HSKA	OFIX	NPCE	AORT
OSA		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	OSA
LIVN	0.0		-0.29	0.16	0.25	-0.09	0.0	0.71	-0.47	-0.26	LIVN
ELMD	0.0	-0.29		0.45	-0.69	-0.32	0.0	0.03	0.83	0.77	ELMD
KIDS	0.0	0.16	0.45		-0.28	0.13	0.0	0.49	0.18	0.39	KIDS
SRDX	0.0	0.25	-0.69	-0.28		-0.01	0.0	-0.09	-0.55	-0.63	SRDX
LUNG	0.0	-0.09	-0.32	0.13	-0.01		0.0	0.09	-0.45	-0.18	LUNG
HSKA	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	HSKA
OFIX	0.0	0.71	0.03	0.49	-0.09	0.09	0.0		-0.22	0.14	OFIX
NPCE	0.0	-0.47	0.83	0.18	-0.55	-0.45	0.0	-0.22		0.8	NPCE
AORT	0.0	-0.26	0.77	0.39	-0.63	-0.18	0.0	0.14	0.8		AORT
	OSA	LIVN	ELMD	KIDS	SRDX	LUNG	HSKA	OFIX	NPCE	AORT

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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

NPCE	+ 0.83	ELMD
AORT	+ 0.8	NPCE
AORT	+ 0.77	ELMD
OFIX	+ 0.71	LIVN
OFIX	+ 0.49	KIDS
KIDS	+ 0.45	ELMD

High negative correlations

SRDX	- 0.69	ELMD
AORT	- 0.63	SRDX
NPCE	- 0.55	SRDX
NPCE	- 0.47	LIVN
NPCE	- 0.45	LUNG
LUNG	- 0.32	ELMD

Risk-Adjusted Indicators

There is a big difference between CVRx Stock performing well and CVRx 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 CVRx'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
OSA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIVN	1.26	(0.12)	0.00	(0.17)	0.00	0.00	2.87	(2.62)	8.24
ELMD	2.57	0.39	0.13	0.43	2.70	(3.04)	5.82	(3.98)	17.95
KIDS	2.15	(0.04)	0.00	(0.03)	0.00	0.00	3.80	(5.29)	14.60
SRDX	0.85	(0.18)	0.00	(0.77)	0.00	0.00	1.67	(1.84)	9.34
LUNG	2.77	(0.05)	0.00	(0.09)	0.00	0.00	5.28	(5.32)	16.45
HSKA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OFIX	1.32	(0.06)	0.00	(0.08)	0.00	0.00	2.73	(3.15)	8.72
NPCE	3.52	0.86	0.24	1.24	3.00	(4.33)	7.78	(5.99)	35.79
AORT	1.31	0.07	0.04	0.12	1.56	(1.40)	3.17	(2.30)	7.49

CVRx Corporate Management

RN MBA	Reimbursement, Access	Profile
Tonya SPHR	Chief Officer	Profile
Jared Oasheim	Chief Officer	Profile
Paul Verrastro	Chief Officer	Profile
Craig Palmer	Senior Sales	Profile

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