Nexgel Correlations

NXGL Stock

USD 2.79 0.05 1.76%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nexgel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nexgel Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nexgel Correlation With Market

Weak diversification

The correlation between Nexgel Inc and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexgel 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 Nexgel 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 price.

Moving together with Nexgel Stock

0.61	EW	Edwards Lifesciences Corp	Pair Corr
0.8	OM	Outset Medical	Pair Corr
0.78	VREX	Varex Imaging Corp	Pair Corr
0.71	ELAB	Elevai Labs, Common Trending	Pair Corr
0.75	EMBC	Embecta Corp	Pair Corr
0.67	EUDA	EUDA Health Holdings	Pair Corr
0.68	FIGS	Figs Inc	Pair Corr
0.65	FLGT	Fulgent Genetics	Pair Corr
0.77	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.72	XAIR	Beyond Air	Pair Corr
0.84	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr

Moving against Nexgel Stock

0.79	CI	Cigna Corp	Pair Corr
0.71	LH	Laboratory	Pair Corr
0.61	GH	Guardant Health	Pair Corr
0.57	FEMY	Femasys	Pair Corr
0.46	DOCS	Doximity	Pair Corr
0.45	EHAB	Enhabit	Pair Corr
0.41	EDAP	EDAP TMS SA	Pair Corr
0.35	VEEV	Veeva Systems Class	Pair Corr
0.83	COR	Cencora	Pair Corr
0.82	CAH	Cardinal Health	Pair Corr
0.81	AGL	agilon health	Pair Corr
0.8	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.77	BAX	Baxter International	Pair Corr
0.76	CHE	Chemed Corp	Pair Corr
0.73	ABT	Abbott Laboratories	Pair Corr
0.7	DGX	Quest Diagnostics	Pair Corr
0.65	BSX	Boston Scientific Corp	Pair Corr
0.61	ALC	Alcon AG Sell-off Trend	Pair Corr

Related Correlations Analysis

	GCTK	GMVD	POAI	PDEX	ZJYL	NYXH	DXR	MLSS	AVGR	STSS
GCTK		0.0	-0.69	0.66	0.26	-0.86	0.47	-0.5	0.49	0.84	GCTK
GMVD	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	GMVD
POAI	-0.69	0.0		-0.52	0.06	0.83	-0.51	0.74	-0.12	-0.48	POAI
PDEX	0.66	0.0	-0.52		0.38	-0.59	0.66	-0.46	0.25	0.73	PDEX
ZJYL	0.26	0.0	0.06	0.38		-0.03	0.07	0.14	0.08	0.4	ZJYL
NYXH	-0.86	0.0	0.83	-0.59	-0.03		-0.41	0.77	-0.32	-0.65	NYXH
DXR	0.47	0.0	-0.51	0.66	0.07	-0.41		-0.23	0.24	0.58	DXR
MLSS	-0.5	0.0	0.74	-0.46	0.14	0.77	-0.23		0.09	-0.3	MLSS
AVGR	0.49	0.0	-0.12	0.25	0.08	-0.32	0.24	0.09		0.32	AVGR
STSS	0.84	0.0	-0.48	0.73	0.4	-0.65	0.58	-0.3	0.32		STSS
	GCTK	GMVD	POAI	PDEX	ZJYL	NYXH	DXR	MLSS	AVGR	STSS

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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

STSS	+ 0.84	GCTK
NYXH	+ 0.83	POAI
MLSS	+ 0.77	NYXH
MLSS	+ 0.74	POAI
STSS	+ 0.73	PDEX
PDEX	+ 0.66	GCTK

High negative correlations

NYXH	- 0.86	GCTK
POAI	- 0.69	GCTK
STSS	- 0.65	NYXH
NYXH	- 0.59	PDEX
PDEX	- 0.52	POAI
DXR	- 0.51	POAI

Risk-Adjusted Indicators

There is a big difference between Nexgel Stock performing well and Nexgel 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 Nexgel'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
GCTK	8.69	(3.10)	0.00	(5.93)	0.00	0.00	19.55	(24.47)	77.82
GMVD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
POAI	6.99	1.12	0.15	1.00	6.79	(9.88)	16.54	(9.70)	80.58
PDEX	3.83	0.21	0.05	0.18	4.18	(4.35)	8.67	(6.88)	34.56
ZJYL	5.99	0.60	0.07	0.34	6.68	(7.06)	14.29	(11.36)	38.64
NYXH	1.94	0.51	0.30	0.92	1.43	(3.22)	7.83	(3.79)	18.32
DXR	1.91	(0.11)	0.00	(0.55)	0.00	0.00	3.60	(3.62)	9.55
MLSS	4.04	0.29	0.06	0.25	4.71	(4.67)	7.63	(8.11)	37.01
AVGR	10.38	1.01	0.07	0.28	11.53	(16.33)	33.33	(24.22)	156.92
STSS	8.66	(1.50)	0.00	0.53	0.00	0.00	19.35	(18.18)	76.46

Nexgel Corporate Management

Joseph McGuire	Chief Officer	Profile
David Stefansky	Ex Director	Profile
Adam III	Chief Officer	Profile
Gregory Robb	Vice Operations	Profile

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