Hyperfine Correlations

HYPR Stock

USD 0.98 0.02 2.00%

The current 90-days correlation between Hyperfine and Apyx Medical is -0.02 (i.e., Good diversification). The correlation of Hyperfine 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.

Hyperfine Correlation With Market

Modest diversification

The correlation between Hyperfine and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hyperfine 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 Hyperfine. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

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

Moving together with Hyperfine Stock

0.62

VERO

Venus Concept

Pair Corr

Moving against Hyperfine Stock

0.54	MD	Mednax Inc	Pair Corr
0.52	LH	Laboratory	Pair Corr
0.51	DOCS	Doximity Sell-off Trend	Pair Corr
0.51	ELMD	Electromed	Pair Corr
0.41	OM	Outset Medical	Pair Corr
0.41	VREX	Varex Imaging Corp	Pair Corr
0.4	VEEV	Veeva Systems Class Earnings Call This Week	Pair Corr
0.39	DXCM	DexCom Inc	Pair Corr
0.37	GH	Guardant Health	Pair Corr
0.6	LNSR	LENSAR Inc	Pair Corr
0.52	SYK	Stryker	Pair Corr
0.5	OFIX	Orthofix Medical	Pair Corr
0.5	PODD	Insulet	Pair Corr
0.48	WGS	GeneDx Holdings Corp	Pair Corr
0.45	BSX	Boston Scientific Corp	Pair Corr
0.43	MMSI	Merit Medical Systems	Pair Corr
0.39	FNA	Paragon 28	Pair Corr
0.34	NPCE	Neuropace	Pair Corr
0.51	CVRX	CVRx Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.42	CTKB	Cytek Biosciences	Pair Corr
0.31	TCMD	Tactile Systems Tech	Pair Corr

Related Correlations Analysis

	OSA	NPCE	KIDS	ANIK	HSKA	PAVM	LIVN	ELMD	SRDX	LUNG
OSA		0.48	-0.05	-0.24	0.05	-0.19	-0.06	0.33	0.29	-0.16	OSA
NPCE	0.48		-0.13	-0.61	0.07	-0.25	-0.13	0.57	0.51	-0.14	NPCE
KIDS	-0.05	-0.13		0.37	-0.83	0.35	-0.73	-0.73	0.42	0.5	KIDS
ANIK	-0.24	-0.61	0.37		-0.41	0.37	-0.08	-0.77	0.13	0.35	ANIK
HSKA	0.05	0.07	-0.83	-0.41		-0.27	0.8	0.76	-0.51	-0.32	HSKA
PAVM	-0.19	-0.25	0.35	0.37	-0.27		-0.28	-0.4	0.24	0.64	PAVM
LIVN	-0.06	-0.13	-0.73	-0.08	0.8	-0.28		0.53	-0.49	-0.31	LIVN
ELMD	0.33	0.57	-0.73	-0.77	0.76	-0.4	0.53		-0.18	-0.53	ELMD
SRDX	0.29	0.51	0.42	0.13	-0.51	0.24	-0.49	-0.18		0.37	SRDX
LUNG	-0.16	-0.14	0.5	0.35	-0.32	0.64	-0.31	-0.53	0.37		LUNG
	OSA	NPCE	KIDS	ANIK	HSKA	PAVM	LIVN	ELMD	SRDX	LUNG

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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

LIVN	+ 0.8	HSKA
ELMD	+ 0.76	HSKA
LUNG	+ 0.64	PAVM
ELMD	+ 0.57	NPCE
ELMD	+ 0.53	LIVN
SRDX	+ 0.51	NPCE

High negative correlations

HSKA	- 0.83	KIDS
ELMD	- 0.77	ANIK
ELMD	- 0.73	KIDS
LIVN	- 0.73	KIDS
ANIK	- 0.61	NPCE
LUNG	- 0.53	ELMD

Risk-Adjusted Indicators

There is a big difference between Hyperfine Stock performing well and Hyperfine 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 Hyperfine'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	104.70	50.61	1.97	3.14	13.81	(252.47)	51.22	(20.31)	168.97
NPCE	3.41	0.26	0.12	0.23	3.03	(4.13)	9.73	(6.19)	35.38
KIDS	2.47	(0.42)	0.00	(0.24)	0.00	0.00	4.85	(5.08)	16.62
ANIK	1.77	(0.60)	0.00	(0.28)	0.00	0.00	3.23	(2.96)	34.28
HSKA	1.18	0.56	0.83	2.12	0.00	(1.25)	3.63	(0.71)	21.36
PAVM	5.28	0.53	0.04	(0.26)	6.27	(5.99)	8.86	(10.16)	63.57
LIVN	1.28	0.08	0.04	0.20	1.48	(1.25)	3.73	(2.55)	8.68
ELMD	2.41	0.92	0.33	1.00	1.94	(2.94)	6.13	(3.90)	12.73
SRDX	0.48	(0.05)	(0.20)	(0.02)	0.59	(0.51)	1.26	(1.01)	3.22
LUNG	3.17	(0.42)	0.00	(0.11)	0.00	0.00	8.44	(6.89)	20.44

Hyperfine Corporate Management

Scott White	Chief Officer	Profile
Neela Paykel	Gen Officer	Profile
Alok Gupta	Chief Officer	Profile
Thomas Teisseyre	Chief Officer	Profile
Dave Castiglioni	Chief Officer	Profile

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