Glaukos Corp Correlations

GKOS Stock

USD 143.65 0.96 0.67%

The current 90-days correlation between Glaukos Corp and Orthopediatrics Corp is 0.31 (i.e., Weak diversification). The correlation of Glaukos Corp 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.

Glaukos Corp Correlation With Market

Very weak diversification

The correlation between Glaukos Corp and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Glaukos Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Glaukos Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more information on how to buy Glaukos Stock please use our How to Invest in Glaukos Corp guide.

Moving together with Glaukos Stock

0.73	GH	Guardant Health	Pair Corr
0.83	LH	Laboratory	Pair Corr
0.79	MD	Mednax Inc	Pair Corr
0.77	OM	Outset Medical	Pair Corr
0.72	DOCS	Doximity	Pair Corr
0.7	DXCM	DexCom Inc Sell-off Trend	Pair Corr
0.88	VREX	Varex Imaging Corp	Pair Corr
0.75	ELMD	Electromed	Pair Corr
0.67	ENOV	Enovis Corp	Pair Corr
0.67	BSX	Boston Scientific Corp Sell-off Trend	Pair Corr
0.61	FNA	Paragon 28	Pair Corr
0.75	SYK	Stryker	Pair Corr
0.73	WGS	GeneDx Holdings Corp	Pair Corr
0.88	LNSR	LENSAR Inc	Pair Corr
0.72	MMSI	Merit Medical Systems	Pair Corr
0.69	NPCE	Neuropace	Pair Corr
0.82	OFIX	Orthofix Medical	Pair Corr
0.68	PODD	Insulet	Pair Corr
0.8	AORT	Artivion	Pair Corr
0.75	TCMD	Tactile Systems Tech	Pair Corr

Moving against Glaukos Stock

0.84	EKSO	Ekso Bionics Holdings	Pair Corr
0.65	VERO	Venus Concept	Pair Corr
0.53	CI	Cigna Corp	Pair Corr
0.44	DRIO	DarioHealth Corp	Pair Corr
0.53	LIFWW	MSP Recovery	Pair Corr
0.5	MDT	Medtronic PLC	Pair Corr
0.4	KIDS	Orthopediatrics Corp	Pair Corr
0.8	ME	23Andme Holding Upward Rally	Pair Corr
0.75	TNDM	Tandem Diabetes Care	Pair Corr
0.64	VALN	Valneva SE ADR	Pair Corr
0.54	A	Agilent Technologies Sell-off Trend	Pair Corr
0.36	ALGN	Align Technology	Pair Corr

Related Correlations Analysis

	KIDS	CNMD	LIVN	FNA	OFIX	NUVA	HSKA	BRKR	NVRO	ITGR
KIDS		0.4	-0.72	-0.04	-0.07	0.4	-0.83	0.48	0.68	-0.41	KIDS
CNMD	0.4		-0.47	0.62	0.54	0.58	-0.32	0.08	0.28	0.32	CNMD
LIVN	-0.72	-0.47		-0.25	-0.14	-0.57	0.77	-0.17	-0.24	0.29	LIVN
FNA	-0.04	0.62	-0.25		0.77	0.68	-0.1	-0.45	-0.36	0.64	FNA
OFIX	-0.07	0.54	-0.14	0.77		0.53	0.07	-0.66	-0.27	0.78	OFIX
NUVA	0.4	0.58	-0.57	0.68	0.53		-0.43	-0.27	0.03	0.2	NUVA
HSKA	-0.83	-0.32	0.77	-0.1	0.07	-0.43		-0.41	-0.48	0.4	HSKA
BRKR	0.48	0.08	-0.17	-0.45	-0.66	-0.27	-0.41		0.62	-0.54	BRKR
NVRO	0.68	0.28	-0.24	-0.36	-0.27	0.03	-0.48	0.62		-0.4	NVRO
ITGR	-0.41	0.32	0.29	0.64	0.78	0.2	0.4	-0.54	-0.4		ITGR
	KIDS	CNMD	LIVN	FNA	OFIX	NUVA	HSKA	BRKR	NVRO	ITGR

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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

ITGR	+ 0.78	OFIX
HSKA	+ 0.77	LIVN
OFIX	+ 0.77	FNA
NVRO	+ 0.68	KIDS
NUVA	+ 0.68	FNA
ITGR	+ 0.64	FNA

High negative correlations

HSKA	- 0.83	KIDS
LIVN	- 0.72	KIDS
BRKR	- 0.66	OFIX
NUVA	- 0.57	LIVN
ITGR	- 0.54	BRKR
NVRO	- 0.48	HSKA

Risk-Adjusted Indicators

There is a big difference between Glaukos Stock performing well and Glaukos Corp 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 Glaukos Corp'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
KIDS	2.50	(0.41)	0.00	(0.21)	0.00	0.00	4.85	(5.08)	16.62
CNMD	1.90	(0.04)	(0.01)	0.09	2.35	(1.95)	4.56	(3.84)	10.92
LIVN	1.22	0.01	0.00	0.13	1.49	(1.16)	3.53	(2.55)	8.68
FNA	3.71	0.20	0.09	0.21	4.10	(4.00)	7.32	(6.30)	43.16
OFIX	1.86	0.03	0.04	0.15	2.06	(2.07)	3.90	(3.85)	12.11
NUVA	1.23	(0.03)	0.00	(2.18)	0.00	0.00	3.31	(2.75)	7.19
HSKA	1.18	0.58	0.81	3.73	0.00	(1.25)	3.63	(0.71)	21.36
BRKR	2.03	(0.25)	0.00	(0.15)	0.00	0.00	4.74	(3.68)	12.99
NVRO	3.79	(0.49)	0.00	(0.11)	0.00	0.00	8.28	(7.61)	25.58
ITGR	1.28	(0.01)	0.01	0.12	1.44	(1.35)	2.47	(2.16)	7.64

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