Nemaura Medical Correlations
| NMRDDelisted Stock | USD 0.93 0.01 1.06% |
The current 90-days correlation between Nemaura Medical and Bluejay Diagnostics is -0.04 (i.e., Good diversification). The correlation of Nemaura Medical 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.
Nemaura Medical Correlation With Market
Modest diversification
The correlation between Nemaura Medical and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nemaura Medical and DJI in the same portfolio, assuming nothing else is changed.
Nemaura |
The ability to find closely correlated positions to Nemaura Medical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nemaura Medical when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Nemaura Medical - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Nemaura Medical to buy it.
Moving together with Nemaura Pink Sheet
| 0.62 | OM | Outset Medical | PairCorr |
| 0.7 | VREX | Varex Imaging Corp | PairCorr |
| 0.76 | XAIR | Beyond Air | PairCorr |
| 0.76 | FNA | Paragon 28 | PairCorr |
| 0.77 | MYO | Myomo Inc | PairCorr |
| 0.76 | NXL | Nexalin Technology | PairCorr |
| 0.75 | PEN | Penumbra | PairCorr |
| 0.73 | GKOS | Glaukos Corp | PairCorr |
| 0.75 | GMED | Globus Medical | PairCorr |
| 0.77 | IART | Integra LifeSciences | PairCorr |
Moving against Nemaura Pink Sheet
| 0.79 | PHG | Koninklijke Philips | PairCorr |
| 0.61 | SNN | Smith Nephew SNATS | PairCorr |
| 0.59 | VIVE | Viveve Medical | PairCorr |
| 0.56 | XTNT | Xtant Medical Holdings | PairCorr |
| 0.54 | QTI | QT Imaging Holdings Symbol Change | PairCorr |
| 0.53 | DYNT | Dynatronics | PairCorr |
| 0.53 | BBLGW | Bone Biologics Corp | PairCorr |
| 0.41 | VERO | Venus Concept | PairCorr |
| 0.37 | ESMC | Escalon Medical Corp | PairCorr |
| 0.35 | STE | STERIS plc | PairCorr |
| 0.67 | HSCS | Heart Test Laboratories | PairCorr |
| 0.57 | INSP | Inspire Medical Systems | PairCorr |
| 0.54 | LFWD | ReWalk Robotics Symbol Change | PairCorr |
| 0.47 | HYPR | Hyperfine | PairCorr |
| 0.32 | ZIMV | ZimVie Inc | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Nemaura Pink Sheet performing well and Nemaura Medical 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 Nemaura Medical'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NPCE | 3.41 | 0.26 | 0.12 | 0.23 | 3.03 | 9.73 | 35.38 | |||
| CVRX | 3.86 | 0.78 | 0.17 | 1.57 | 3.52 | 10.68 | 41.08 | |||
| OFIX | 1.85 | 0.00 | 0.02 | 0.11 | 2.05 | 3.90 | 12.11 | |||
| AORT | 1.31 | (0.01) | 0.02 | 0.11 | 1.49 | 2.65 | 9.51 | |||
| HSKA | 1.18 | 0.56 | 0.83 | 2.12 | 0.00 | 3.63 | 21.36 | |||
| BJDX | 6.47 | (1.07) | 0.00 | (2.07) | 0.00 | 13.03 | 120.52 | |||
| MOVE | 4.66 | 0.25 | 0.05 | 0.27 | 5.40 | 10.76 | 35.49 | |||
| INVO | 4.97 | 0.31 | 0.05 | 0.52 | 4.69 | 6.67 | 105.62 | |||
| NVNO | 2.79 | (0.78) | 0.00 | (1.20) | 0.00 | 4.22 | 33.20 | |||
| MODD | 2.39 | (0.05) | 0.00 | 0.22 | 0.00 | 4.29 | 26.16 |
View Nemaura Medical Related Equities
| Risk & Return | Correlation |
Nemaura Medical Corporate Management
| Jay Warner | Head Operations | Profile | |
| Thomas Mortensen | Head Marketing | Profile | |
| Arash Ghadar | Chief Officer | Profile | |
| Samantha Sanders | Global Programs | Profile |
Still Interested in Nemaura Medical?
Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.