Electromed Correlations

ELMD Stock

USD 24.55 0.10 0.41%

The current 90-days correlation between Electromed and Akoya Biosciences is 0.16 (i.e., Average diversification). The correlation of Electromed 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.

Electromed Correlation With Market

Modest diversification

The correlation between Electromed and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electromed and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Electromed. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For information on how to trade Electromed Stock refer to our How to Trade Electromed Stock guide.

Moving together with Electromed Stock

0.65	DH	Definitive Healthcare	Pair Corr
0.82	ENOV	Enovis Corp	Pair Corr
0.66	WORX	Scworx Corp	Pair Corr

Moving against Electromed Stock

0.57	FEMY	Femasys	Pair Corr
0.47	CI	Cigna Corp	Pair Corr
0.45	ESTA	Establishment Labs	Pair Corr
0.81	BKD	Brookdale Senior Living	Pair Corr
0.47	DGX	Quest Diagnostics	Pair Corr
0.46	BAX	Baxter International	Pair Corr
0.39	CHE	Chemed Corp	Pair Corr
0.32	CVS	CVS Health Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	AKYA	ATRC	ICUI	HAE	ANGO	ATR	KRMD	COO	TFX	WST
AKYA		0.16	0.84	0.44	0.67	0.54	0.72	0.73	0.82	0.84	AKYA
ATRC	0.16		0.32	-0.68	0.61	-0.37	0.39	0.29	0.03	-0.13	ATRC
ICUI	0.84	0.32		0.29	0.62	0.44	0.74	0.72	0.86	0.61	ICUI
HAE	0.44	-0.68	0.29		-0.14	0.82	0.1	0.37	0.5	0.63	HAE
ANGO	0.67	0.61	0.62	-0.14		0.0	0.47	0.37	0.4	0.36	ANGO
ATR	0.54	-0.37	0.44	0.82	0.0		0.28	0.59	0.55	0.66	ATR
KRMD	0.72	0.39	0.74	0.1	0.47	0.28		0.74	0.74	0.6	KRMD
COO	0.73	0.29	0.72	0.37	0.37	0.59	0.74		0.7	0.69	COO
TFX	0.82	0.03	0.86	0.5	0.4	0.55	0.74	0.7		0.7	TFX
WST	0.84	-0.13	0.61	0.63	0.36	0.66	0.6	0.69	0.7		WST
	AKYA	ATRC	ICUI	HAE	ANGO	ATR	KRMD	COO	TFX	WST

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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

TFX	+ 0.86	ICUI
ICUI	+ 0.84	AKYA
WST	+ 0.84	AKYA
TFX	+ 0.82	AKYA
ATR	+ 0.82	HAE
KRMD	+ 0.74	ICUI

High negative correlations

HAE	- 0.68	ATRC
ATR	- 0.37	ATRC
ANGO	- 0.14	HAE
WST	- 0.13	ATRC
ATR	- 0.0	ANGO

Risk-Adjusted Indicators

There is a big difference between Electromed Stock performing well and Electromed 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 Electromed'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
AKYA	3.84	(0.47)	0.00	4.82	0.00	0.00	6.61	(7.04)	25.17
ATRC	2.16	0.15	0.04	0.03	3.06	(2.08)	4.56	(4.77)	16.13
ICUI	1.74	0.00	0.00	(0.10)	0.00	0.00	3.44	(3.61)	12.19
HAE	1.81	(0.32)	0.00	(0.74)	0.00	0.00	3.37	(4.20)	15.77
ANGO	2.95	0.29	0.10	0.28	3.01	(3.70)	4.93	(4.95)	46.09
ATR	0.94	(0.15)	0.00	(0.29)	0.00	0.00	1.46	(1.87)	10.88
KRMD	2.96	(0.19)	0.00	(0.20)	0.00	0.00	7.22	(5.70)	31.38
COO	1.38	(0.25)	0.00	(0.47)	0.00	0.00	2.11	(2.58)	9.15
TFX	1.54	(0.34)	0.00	(0.80)	0.00	0.00	2.59	(3.15)	24.93
WST	2.04	(0.33)	0.00	1.25	0.00	0.00	4.21	(2.83)	42.43

Electromed Corporate Management

Amy Yanta	Quality Affairs	Profile
Brad Nagel	Chief Officer	Profile
Diane Kaufman	Vice Resources	Profile
William George	Secretary	Profile
Christopher Holland	Chief Officer	Profile

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