Neuropace Correlations

NPCE Stock

USD 11.75 0.35 3.07%

The current 90-days correlation between Neuropace and Electromed is 0.16 (i.e., Average diversification). The correlation of Neuropace 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.

Neuropace Correlation With Market

Weak diversification

The correlation between Neuropace 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 Neuropace 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 Neuropace. 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 information on how to trade Neuropace Stock refer to our How to Trade Neuropace Stock guide.

Moving together with Neuropace Stock

0.64	DH	Definitive Healthcare	Pair Corr
0.73	GH	Guardant Health	Pair Corr
0.85	DXCM	DexCom Inc	Pair Corr
0.63	ELMD	Electromed	Pair Corr

Moving against Neuropace Stock

0.59	ESTA	Establishment Labs	Pair Corr
0.37	EUDA	EUDA Health Holdings	Pair Corr
0.5	FLGT	Fulgent Genetics	Pair Corr
0.37	BKD	Brookdale Senior Living	Pair Corr

Related Correlations Analysis

	ELMD	KIDS	SRDX	FNA	NVRO	NUVA	ITGR	GKOS	CNMD	OSA
ELMD		0.32	0.4	-0.11	-0.22	0.0	0.86	0.84	0.63	0.0	ELMD
KIDS	0.32		-0.39	0.32	0.36	0.0	0.12	0.03	-0.15	0.0	KIDS
SRDX	0.4	-0.39		-0.82	-0.82	0.0	0.62	0.73	0.75	0.0	SRDX
FNA	-0.11	0.32	-0.82		0.95	0.0	-0.3	-0.44	-0.63	0.0	FNA
NVRO	-0.22	0.36	-0.82	0.95		0.0	-0.33	-0.53	-0.69	0.0	NVRO
NUVA	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	NUVA
ITGR	0.86	0.12	0.62	-0.3	-0.33	0.0		0.91	0.76	0.0	ITGR
GKOS	0.84	0.03	0.73	-0.44	-0.53	0.0	0.91		0.74	0.0	GKOS
CNMD	0.63	-0.15	0.75	-0.63	-0.69	0.0	0.76	0.74		0.0	CNMD
OSA	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		OSA
	ELMD	KIDS	SRDX	FNA	NVRO	NUVA	ITGR	GKOS	CNMD	OSA

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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

NVRO	+ 0.95	FNA
GKOS	+ 0.91	ITGR
ITGR	+ 0.86	ELMD
GKOS	+ 0.84	ELMD
CNMD	+ 0.76	ITGR
CNMD	+ 0.75	SRDX

High negative correlations

NVRO	- 0.82	SRDX
FNA	- 0.82	SRDX
CNMD	- 0.69	NVRO
CNMD	- 0.63	FNA
GKOS	- 0.53	NVRO
GKOS	- 0.44	FNA

Risk-Adjusted Indicators

There is a big difference between Neuropace Stock performing well and Neuropace 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 Neuropace'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
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
FNA	1.22	0.37	0.26	1.05	1.10	(1.58)	3.78	(3.09)	8.63
NVRO	2.64	0.65	0.17	0.41	2.53	(3.79)	6.13	(5.73)	30.68
NUVA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ITGR	1.09	(0.15)	0.00	(0.26)	0.00	0.00	1.68	(2.80)	8.30
GKOS	2.40	(0.23)	0.00	(0.24)	0.00	0.00	4.97	(7.22)	24.99
CNMD	1.65	(0.21)	0.00	(0.35)	0.00	0.00	3.52	(3.53)	13.79
OSA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Neuropace Corporate Management

Irina Ridley	Chief Secretary	Profile
Chi Nguyen	VP Marketing	Profile
Kelley Nicholas	Vice Sales	Profile
Michael Favet	CEO Pres	Profile
Katie Keller	Vice Marketing	Profile
Martha MD	Chief Officer	Profile

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