Movano Correlations

MOVE Stock

USD 2.32 0.13 5.31%

The current 90-days correlation between Movano Inc and SANUWAVE Health, Common is 0.01 (i.e., Significant diversification). The correlation of Movano 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.

Movano Correlation With Market

Average diversification

The correlation between Movano Inc and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Movano Inc 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 Movano Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Movano Stock

0.62	DM	Desktop Metal Tech Boost	Pair Corr
0.73	KE	Kimball Electronics	Pair Corr
0.83	KN	Knowles Cor	Pair Corr
0.82	EBON	Ebang International	Pair Corr
0.63	ELTK	Eltek	Pair Corr
0.82	EXTR	Extreme Networks	Pair Corr
0.62	FEIM	Frequency Electronics	Pair Corr
0.77	APH	Amphenol	Pair Corr
0.86	BDC	Belden Inc	Pair Corr
0.78	BHE	Benchmark Electronics	Pair Corr
0.83	CTS	CTS Corporation	Pair Corr
0.84	HPE	Hewlett Packard Ente Aggressive Push	Pair Corr
0.84	HPQ	HP Inc	Pair Corr
0.82	IDN	Intellicheck Mobilisa Tech Boost	Pair Corr
0.89	MEI	Methode Electronics	Pair Corr
0.61	MOB	Mobilicom Limited	Pair Corr
0.76	MSI	Motorola Solutions	Pair Corr

Moving against Movano Stock

0.6	FKWL	Franklin Wireless Corp	Pair Corr
0.86	NOK	Nokia Corp ADR Aggressive Push	Pair Corr
0.39	DLB	Dolby Laboratories	Pair Corr

Related Correlations Analysis

	SNWV	DYNT	LNSR	NPCE	OSA	LIVN	ELMD	KIDS	SRDX	AIMD
SNWV		0.0	0.71	0.33	0.0	-0.5	-0.04	0.6	-0.79	0.33	SNWV
DYNT	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	DYNT
LNSR	0.71	0.0		-0.09	0.0	-0.75	-0.42	0.32	-0.92	-0.1	LNSR
NPCE	0.33	0.0	-0.09		0.0	0.41	0.63	0.3	0.06	0.73	NPCE
OSA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	OSA
LIVN	-0.5	0.0	-0.75	0.41	0.0		0.72	-0.12	0.75	0.37	LIVN
ELMD	-0.04	0.0	-0.42	0.63	0.0	0.72		0.32	0.4	0.69	ELMD
KIDS	0.6	0.0	0.32	0.3	0.0	-0.12	0.32		-0.39	0.56	KIDS
SRDX	-0.79	0.0	-0.92	0.06	0.0	0.75	0.4	-0.39		0.05	SRDX
AIMD	0.33	0.0	-0.1	0.73	0.0	0.37	0.69	0.56	0.05		AIMD
	SNWV	DYNT	LNSR	NPCE	OSA	LIVN	ELMD	KIDS	SRDX	AIMD

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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

SRDX	+ 0.75	LIVN
AIMD	+ 0.73	NPCE
ELMD	+ 0.72	LIVN
LNSR	+ 0.71	SNWV
AIMD	+ 0.69	ELMD
ELMD	+ 0.63	NPCE

High negative correlations

SRDX	- 0.92	LNSR
SRDX	- 0.79	SNWV
LIVN	- 0.75	LNSR
LIVN	- 0.5	SNWV
ELMD	- 0.42	LNSR
SRDX	- 0.39	KIDS

Risk-Adjusted Indicators

There is a big difference between Movano Stock performing well and Movano 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 Movano'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
SNWV	3.26	0.78	0.22	(7.31)	3.47	(3.84)	8.42	(5.17)	21.54
DYNT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LNSR	4.32	1.44	0.28	0.65	3.98	(4.87)	12.34	(6.64)	32.31
NPCE	3.16	0.19	0.04	0.04	3.87	(3.32)	5.89	(6.82)	17.98
OSA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIVN	1.68	(0.23)	0.00	(0.46)	0.00	0.00	2.90	(3.78)	20.10
ELMD	2.30	(0.10)	0.00	(0.19)	0.00	0.00	3.90	(4.34)	21.31
KIDS	1.90	0.28	0.12	0.18	2.17	(2.04)	3.54	(3.39)	15.28
SRDX	1.47	(0.40)	0.00	(0.82)	0.00	0.00	1.74	(5.79)	10.84
AIMD	6.00	0.62	0.10	(2.57)	6.08	(8.90)	17.74	(9.46)	74.23

Movano Corporate Management

Phil Kelly	Senior Engineering	Profile
Tyla Bucher	Chief Officer	Profile
Michael Soule	Chief Officer	Profile
Stacy Salvi	Vice Strategy	Profile
Michael Leabman	CTO Founder	Profile

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