Nexalin Technology Correlations

NXL Stock

USD 2.38 0.10 4.03%

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

Nexalin Technology Correlation With Market

Weak diversification

The correlation between Nexalin Technology and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexalin Technology 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 Nexalin Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

For more information on how to buy Nexalin Stock please use our How to buy in Nexalin Stock guide.

Moving together with Nexalin Stock

0.75	INFU	InfuSystems Holdings	Pair Corr
0.66	PMVP	Pmv Pharmaceuticals	Pair Corr

Moving against Nexalin Stock

0.64	OCX	OncoCyte Corp	Pair Corr
0.58	MNDR	Mobile health Network	Pair Corr
0.4	PFE	Pfizer Inc	Pair Corr
0.36	NVCT	Nuvectis Pharma	Pair Corr

Related Correlations Analysis

	AIMDW	ELMD	ARMM	SRDX	BJDX	INVO	MOTS	IRIX	AZYO	AIMD
AIMDW		-0.14	0.0	-0.69	-0.08	0.0	0.0	-0.58	0.0	0.13	AIMDW
ELMD	-0.14		0.0	0.48	-0.38	0.0	0.0	0.71	0.0	0.7	ELMD
ARMM	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ARMM
SRDX	-0.69	0.48	0.0		0.03	0.0	0.0	0.85	0.0	0.14	SRDX
BJDX	-0.08	-0.38	0.0	0.03		0.0	0.0	-0.16	0.0	-0.41	BJDX
INVO	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	INVO
MOTS	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	MOTS
IRIX	-0.58	0.71	0.0	0.85	-0.16	0.0	0.0		0.0	0.3	IRIX
AZYO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	AZYO
AIMD	0.13	0.7	0.0	0.14	-0.41	0.0	0.0	0.3	0.0		AIMD
	AIMDW	ELMD	ARMM	SRDX	BJDX	INVO	MOTS	IRIX	AZYO	AIMD

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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

IRIX	+ 0.85	SRDX
IRIX	+ 0.71	ELMD
AIMD	+ 0.7	ELMD
SRDX	+ 0.48	ELMD
AIMD	+ 0.3	IRIX
AIMD	+ 0.14	SRDX

High negative correlations

SRDX	- 0.69	AIMDW
IRIX	- 0.58	AIMDW
AIMD	- 0.41	BJDX
BJDX	- 0.38	ELMD
IRIX	- 0.16	BJDX
ELMD	- 0.14	AIMDW

Risk-Adjusted Indicators

There is a big difference between Nexalin Stock performing well and Nexalin Technology 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 Nexalin Technology'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
AIMDW	27.11	7.51	0.27	(2.19)	19.56	(47.63)	72.73	(42.86)	232.19
ELMD	2.32	(0.08)	0.00	(0.14)	0.00	0.00	3.90	(4.34)	21.31
ARMM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SRDX	1.50	(0.36)	0.00	(0.67)	0.00	0.00	2.15	(5.79)	10.84
BJDX	5.42	0.15	0.02	0.10	6.52	(6.07)	10.59	(12.22)	42.86
INVO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MOTS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IRIX	3.75	(0.56)	0.00	(0.49)	0.00	0.00	8.93	(7.30)	37.29
AZYO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AIMD	5.85	0.68	0.11	(3.07)	6.07	(8.43)	17.74	(9.46)	74.23

Nexalin Technology Corporate Management

Marilyn Elson	Chief Officer	Profile
Joel Bradus	Director Marketing	Profile
Carolyn Shelton	Regulatory Quality	Profile
David MD	Chief Director	Profile
Michael Nketiah	Regulatory Quality	Profile

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