Nortech Systems Correlations

NSYS Stock

USD 9.70 0.35 3.48%

The current 90-days correlation between Nortech Systems and Neuropace is 0.15 (i.e., Average diversification). The correlation of Nortech Systems 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.

Nortech Systems Correlation With Market

Modest diversification

The correlation between Nortech Systems Incorporated and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nortech Systems Incorporated 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 Nortech Systems Incorporated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Nortech Stock

0.68	HPQ	HP Inc	Pair Corr
0.68	LFUS	Littelfuse	Pair Corr
0.61	AIRG	Airgain	Pair Corr
0.63	NN	Nextnav Acquisition Corp Tech Boost	Pair Corr
0.65	CRM	Salesforce	Pair Corr
0.62	SLNH	Soluna Holdings	Pair Corr

Moving against Nortech Stock

0.65	ALTR	Altair Engineering	Pair Corr
0.53	GB	Global Blue Group	Pair Corr
0.52	MQ	Marqeta	Pair Corr
0.38	MLGO	MicroAlgo Trending	Pair Corr
0.58	TRV	The Travelers Companies	Pair Corr
0.56	JNJ	Johnson Johnson	Pair Corr
0.52	SSNLF	Samsung Electronics	Pair Corr
0.52	VZ	Verizon Communications	Pair Corr
0.48	T	ATT Inc Aggressive Push	Pair Corr
0.46	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.44	WM	Waste Management	Pair Corr
0.41	CWCO	Consolidated Water	Pair Corr
0.34	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	NPCE	ELMD	KIDS	SRDX	FNA	CVRX	OFIX	AORT	HSKA	IRIX
NPCE		0.58	0.2	0.19	0.31	0.7	0.71	0.57	0.0	0.29	NPCE
ELMD	0.58		0.21	0.57	-0.25	0.88	0.85	0.93	0.0	0.77	ELMD
KIDS	0.2	0.21		-0.31	0.22	0.48	0.17	0.11	0.0	-0.2	KIDS
SRDX	0.19	0.57	-0.31		-0.8	0.43	0.41	0.68	0.0	0.84	SRDX
FNA	0.31	-0.25	0.22	-0.8		-0.15	0.03	-0.35	0.0	-0.6	FNA
CVRX	0.7	0.88	0.48	0.43	-0.15		0.78	0.84	0.0	0.57	CVRX
OFIX	0.71	0.85	0.17	0.41	0.03	0.78		0.86	0.0	0.65	OFIX
AORT	0.57	0.93	0.11	0.68	-0.35	0.84	0.86		0.0	0.82	AORT
HSKA	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HSKA
IRIX	0.29	0.77	-0.2	0.84	-0.6	0.57	0.65	0.82	0.0		IRIX
	NPCE	ELMD	KIDS	SRDX	FNA	CVRX	OFIX	AORT	HSKA	IRIX

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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

AORT	+ 0.93	ELMD
CVRX	+ 0.88	ELMD
AORT	+ 0.86	OFIX
OFIX	+ 0.85	ELMD
IRIX	+ 0.84	SRDX
AORT	+ 0.84	CVRX

High negative correlations

FNA	- 0.8	SRDX
IRIX	- 0.6	FNA
AORT	- 0.35	FNA
SRDX	- 0.31	KIDS
FNA	- 0.25	ELMD
IRIX	- 0.2	KIDS

Risk-Adjusted Indicators

There is a big difference between Nortech Stock performing well and Nortech Systems 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 Nortech Systems' 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	3.12	0.34	0.09	0.20	3.54	(3.46)	5.89	(5.99)	17.98
ELMD	2.28	(0.14)	0.00	(0.13)	0.00	0.00	3.90	(4.34)	21.31
KIDS	1.91	0.17	0.08	0.15	2.05	(2.14)	3.54	(3.09)	15.28
SRDX	1.54	(0.38)	0.00	(0.54)	0.00	0.00	2.15	(5.79)	10.84
FNA	1.06	0.40	0.30	2.90	0.69	(1.43)	3.78	(1.56)	8.63
CVRX	2.94	0.14	0.04	0.08	3.45	(3.28)	5.58	(6.47)	14.59
OFIX	1.23	(0.11)	0.00	(0.12)	0.00	0.00	2.18	(2.74)	6.60
AORT	1.35	(0.17)	0.00	(0.22)	0.00	0.00	2.99	(2.56)	13.14
HSKA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IRIX	3.87	(0.71)	0.00	(0.56)	0.00	0.00	8.93	(7.30)	37.29

Nortech Systems Corporate Management

Curtis Steichen	Chief Marketing and Sales Officer and Sr. VP	Profile
Mark Hooley	Secretary	Profile
Cathy Vold	VP Services	Profile
Corey Hancock	Vice Development	Profile
Christopher Jones	CFO VP	Profile
John Lindeen	Senior Operations	Profile

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