Innovative Eyewear Correlations

LUCY Stock

USD 3.37 0.01 0.30%

The current 90-days correlation between Innovative Eyewear and Sharps Technology is 0.2 (i.e., Modest diversification). The correlation of Innovative Eyewear 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.

Innovative Eyewear Correlation With Market

Average diversification

The correlation between Innovative Eyewear and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovative Eyewear and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Innovative Stock

0.86	HOLX	Hologic	Pair Corr
0.79	INFU	InfuSystems Holdings	Pair Corr
0.81	SSKN	STRATA Skin Sciences Earnings Call This Week	Pair Corr
0.74	CDIOW	Cardio Diagnostics	Pair Corr
0.71	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.79	ELEV	Elevation Oncology	Pair Corr
0.7	ELVN	Enliven Therapeutics	Pair Corr
0.83	GPCR	Structure Therapeutics	Pair Corr
0.75	ZURA	Zura Bio Limited	Pair Corr
0.73	ZVSA	ZyVersa Therapeutics	Pair Corr
0.74	IMMX	Immix Biopharma	Pair Corr
0.67	IMRX	Immuneering Corp	Pair Corr
0.74	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.71	PMVP	Pmv Pharmaceuticals	Pair Corr
0.91	PYXS	Pyxis Oncology	Pair Corr
0.9	SCLX	Scilex Holding	Pair Corr
0.85	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.66	ATNF	180 Life Sciences	Pair Corr

Moving against Innovative Stock

0.83	LUCD	Lucid Diagnostics	Pair Corr
0.82	OCX	OncoCyte Corp	Pair Corr
0.77	GOSS	Gossamer Bio	Pair Corr
0.71	MNDR	Mobile health Network	Pair Corr
0.46	PAVM	PAVmed Inc Earnings Call Tomorrow	Pair Corr
0.38	TMDX	TransMedics Group	Pair Corr
0.37	HIMS	Hims Hers Health	Pair Corr
0.37	PLX	Protalix Biotherapeutics	Pair Corr
0.75	NVCT	Nuvectis Pharma	Pair Corr

Related Correlations Analysis

	GMVD	STSS	ZJYL	NXGL	GCTK	AVGR	MBOT	MHUA	POAI	PDEX
GMVD		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	GMVD
STSS	0.0		0.42	0.69	0.84	0.36	-0.2	0.26	-0.41	0.63	STSS
ZJYL	0.0	0.42		0.31	0.35	0.25	0.08	-0.06	-0.13	0.42	ZJYL
NXGL	0.0	0.69	0.31		0.86	0.54	-0.43	0.47	-0.52	0.34	NXGL
GCTK	0.0	0.84	0.35	0.86		0.41	-0.44	0.37	-0.62	0.56	GCTK
AVGR	0.0	0.36	0.25	0.54	0.41		0.07	0.18	-0.03	0.02	AVGR
MBOT	0.0	-0.2	0.08	-0.43	-0.44	0.07		-0.21	0.84	-0.2	MBOT
MHUA	0.0	0.26	-0.06	0.47	0.37	0.18	-0.21		-0.27	0.22	MHUA
POAI	0.0	-0.41	-0.13	-0.52	-0.62	-0.03	0.84	-0.27		-0.49	POAI
PDEX	0.0	0.63	0.42	0.34	0.56	0.02	-0.2	0.22	-0.49		PDEX
	GMVD	STSS	ZJYL	NXGL	GCTK	AVGR	MBOT	MHUA	POAI	PDEX

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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

GCTK	+ 0.86	NXGL
GCTK	+ 0.84	STSS
POAI	+ 0.84	MBOT
NXGL	+ 0.69	STSS
PDEX	+ 0.63	STSS
PDEX	+ 0.56	GCTK

High negative correlations

POAI	- 0.62	GCTK
POAI	- 0.52	NXGL
PDEX	- 0.49	POAI
MBOT	- 0.44	GCTK
MBOT	- 0.43	NXGL
POAI	- 0.41	STSS

Risk-Adjusted Indicators

There is a big difference between Innovative Stock performing well and Innovative Eyewear 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 Innovative Eyewear'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
GMVD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
STSS	9.02	(2.12)	0.00	0.79	0.00	0.00	19.35	(18.75)	76.46
ZJYL	6.49	0.25	0.02	0.09	8.23	(7.54)	14.61	(12.50)	38.64
NXGL	3.51	(0.61)	0.00	(0.36)	0.00	0.00	5.64	(7.95)	23.35
GCTK	9.21	(3.16)	0.00	(4.65)	0.00	0.00	19.55	(26.83)	77.82
AVGR	10.38	0.66	0.06	(0.53)	11.53	(16.33)	33.33	(24.22)	156.92
MBOT	7.23	1.65	0.19	0.92	7.27	(10.32)	16.23	(9.41)	121.64
MHUA	3.50	(0.20)	0.00	(0.21)	0.00	0.00	6.67	(8.57)	44.90
POAI	6.96	1.12	0.15	1.21	6.76	(9.55)	16.54	(9.70)	80.58
PDEX	3.75	0.17	0.04	0.16	4.22	(4.25)	8.67	(6.88)	34.56

Innovative Eyewear Corporate Management

Konrad Dabrowski	CoChief Officer	Profile
Oswald Gayle	CoChief Officer	Profile
Jaoquin Abondano	Chief Officer	Profile
Ekene Ofodile	Senior Marketing	Profile

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