Fonar Correlations

FONR Stock

USD 13.98 0.16 1.16%

The current 90-days correlation between Fonar and Burning Rock Biotech is 0.1 (i.e., Average diversification). The correlation of Fonar 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.

Fonar Correlation With Market

Modest diversification

The correlation between Fonar 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 Fonar 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 Fonar. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

To learn how to invest in Fonar Stock, please use our How to Invest in Fonar guide.

Moving together with Fonar Stock

0.77	DH	Definitive Healthcare	Pair Corr
0.76	ELMD	Electromed	Pair Corr
0.81	ENOV	Enovis Corp	Pair Corr
0.62	AMS	American Shared Hospital	Pair Corr
0.71	XAIR	Beyond Air	Pair Corr

Moving against Fonar Stock

0.47	FEMY	Femasys	Pair Corr
0.43	CI	Cigna Corp	Pair Corr
0.67	BKD	Brookdale Senior Living	Pair Corr
0.56	BAX	Baxter International	Pair Corr
0.44	CHE	Chemed Corp	Pair Corr
0.37	DGX	Quest Diagnostics	Pair Corr
0.33	CVS	CVS Health Corp	Pair Corr

Related Correlations Analysis

	BNR	SERA	OLK	LMDX	GTH	XGN	CSTL	SHC	BDSX	STIM
BNR		0.48	0.0	0.0	0.0	0.28	0.75	0.74	0.54	-0.52	BNR
SERA	0.48		0.0	0.0	0.0	0.43	0.6	0.35	0.92	-0.96	SERA
OLK	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	OLK
LMDX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	LMDX
GTH	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	GTH
XGN	0.28	0.43	0.0	0.0	0.0		0.48	0.45	0.43	-0.47	XGN
CSTL	0.75	0.6	0.0	0.0	0.0	0.48		0.8	0.68	-0.67	CSTL
SHC	0.74	0.35	0.0	0.0	0.0	0.45	0.8		0.44	-0.4	SHC
BDSX	0.54	0.92	0.0	0.0	0.0	0.43	0.68	0.44		-0.91	BDSX
STIM	-0.52	-0.96	0.0	0.0	0.0	-0.47	-0.67	-0.4	-0.91		STIM
	BNR	SERA	OLK	LMDX	GTH	XGN	CSTL	SHC	BDSX	STIM

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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

BDSX	+ 0.92	SERA
SHC	+ 0.8	CSTL
CSTL	+ 0.75	BNR
SHC	+ 0.74	BNR
BDSX	+ 0.68	CSTL
CSTL	+ 0.6	SERA

High negative correlations

STIM	- 0.96	SERA
STIM	- 0.91	BDSX
STIM	- 0.67	CSTL
STIM	- 0.52	BNR
STIM	- 0.47	XGN
STIM	- 0.4	SHC

Risk-Adjusted Indicators

There is a big difference between Fonar Stock performing well and Fonar 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 Fonar'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
BNR	3.80	(0.09)	0.00	(0.26)	0.00	0.00	8.52	(10.25)	26.46
SERA	3.57	(0.65)	0.00	(0.69)	0.00	0.00	6.57	(8.66)	26.54
OLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LMDX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GTH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XGN	5.43	0.23	0.00	(0.01)	0.00	0.00	18.25	(11.56)	45.67
CSTL	2.41	(0.64)	0.00	(3.51)	0.00	0.00	4.51	(6.33)	23.81
SHC	1.38	(0.07)	0.00	(0.19)	0.00	0.00	2.29	(2.88)	12.51
BDSX	3.48	(0.72)	0.00	(0.91)	0.00	0.00	5.00	(8.87)	29.63
STIM	6.98	2.42	0.33	2.98	6.13	(8.43)	18.78	(10.80)	51.44

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