Nano X Correlations

NNOX Stock

USD 5.93 0.03 0.50%

The current 90-days correlation between Nano X Imaging and Pacific Biosciences of is 0.02 (i.e., Significant diversification). The correlation of Nano X 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.

Nano X Correlation With Market

Weak diversification

The correlation between Nano X Imaging and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nano X Imaging 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 Nano X Imaging. 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.

Moving together with Nano Stock

0.68	EYEN	Eyenovia	Pair Corr
0.65	VOR	Vor Biopharma	Pair Corr
0.69	CAT	Caterpillar	Pair Corr
0.66	AXP	American Express	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr

Moving against Nano Stock

0.81	VZ	Verizon Communications	Pair Corr
0.8	JNJ	Johnson Johnson	Pair Corr
0.79	T	ATT Inc Earnings Call This Week	Pair Corr
0.71	MCD	McDonalds	Pair Corr
0.67	CMRX	Chimerix Sell-off Trend	Pair Corr
0.64	NVRO	Nevro Corp	Pair Corr
0.64	IBM	International Business	Pair Corr
0.57	BKLRF	Berkeley Energy	Pair Corr
0.43	INTC	Intel	Pair Corr
0.4	CSCO	Cisco Systems	Pair Corr
0.37	DD	Dupont De Nemours	Pair Corr
0.34	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	ABT	SYK	EW	BSX	DXCM	IART	MGRM	AXNX	MDT	PACB
ABT		0.67	-0.28	0.79	0.34	0.22	-0.13	0.0	0.89	-0.77	ABT
SYK	0.67		-0.22	0.86	0.75	0.67	0.18	0.0	0.7	-0.43	SYK
EW	-0.28	-0.22		-0.22	0.17	-0.26	-0.08	0.0	-0.54	0.56	EW
BSX	0.79	0.86	-0.22		0.66	0.46	0.11	0.0	0.81	-0.59	BSX
DXCM	0.34	0.75	0.17	0.66		0.51	-0.07	0.0	0.22	0.06	DXCM
IART	0.22	0.67	-0.26	0.46	0.51		0.4	0.0	0.38	-0.15	IART
MGRM	-0.13	0.18	-0.08	0.11	-0.07	0.4		0.0	0.09	-0.11	MGRM
AXNX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AXNX
MDT	0.89	0.7	-0.54	0.81	0.22	0.38	0.09	0.0		-0.86	MDT
PACB	-0.77	-0.43	0.56	-0.59	0.06	-0.15	-0.11	0.0	-0.86		PACB
	ABT	SYK	EW	BSX	DXCM	IART	MGRM	AXNX	MDT	PACB

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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

MDT	+ 0.89	ABT
BSX	+ 0.86	SYK
MDT	+ 0.81	BSX
BSX	+ 0.79	ABT
DXCM	+ 0.75	SYK
MDT	+ 0.7	SYK

High negative correlations

PACB	- 0.86	MDT
PACB	- 0.77	ABT
PACB	- 0.59	BSX
MDT	- 0.54	EW
PACB	- 0.43	SYK
EW	- 0.28	ABT

Risk-Adjusted Indicators

There is a big difference between Nano Stock performing well and Nano X 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 Nano X'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
ABT	1.03	0.21	0.17	0.39	1.23	(1.02)	2.53	(1.91)	8.04
SYK	0.99	0.05	0.07	0.02	1.19	(1.11)	2.25	(1.71)	6.96
EW	1.08	(0.02)	0.00	(0.13)	0.00	0.00	2.06	(1.97)	9.48
BSX	0.98	0.22	0.14	0.20	1.53	(0.97)	1.88	(2.65)	9.35
DXCM	1.78	(0.03)	0.00	(0.10)	0.00	0.00	3.79	(3.22)	15.07
IART	2.23	0.05	0.00	(0.04)	0.00	0.00	4.35	(4.53)	19.25
MGRM	3.60	0.74	0.16	0.42	3.73	(3.99)	6.34	(6.67)	64.05
AXNX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MDT	1.02	0.20	0.13	0.39	1.53	(0.99)	2.48	(1.65)	11.49
PACB	4.42	(0.64)	0.00	(0.60)	0.00	0.00	8.82	(8.97)	35.43

Nano X Corporate Management

Gali Attias	Chief Resources	Profile
Marina Feler	Chief Officer	Profile
Tal Shank	VP Devel	Profile
MBA MD	USARAD CMO	Profile
Ran Poliakine	Founder Chairman	Profile
Tamar Cohen	Executive Officer	Profile
Ran Daniel	Chief Officer	Profile

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