Nyxoah Correlations

NYXH Stock

USD 10.00 0.36 3.47%

The current 90-days correlation between Nyxoah and Milestone Scientific is 0.14 (i.e., Average diversification). The correlation of Nyxoah 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.

Nyxoah Correlation With Market

Average diversification

The correlation between Nyxoah and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nyxoah 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 Nyxoah. 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 detail on how to invest in Nyxoah Stock please use our How to Invest in Nyxoah guide.

Moving together with Nyxoah Stock

0.81	ANGO	AngioDynamics	Pair Corr
0.79	CUE	Cue Biopharma	Pair Corr
0.81	OPT	Opthea Earnings Call Today	Pair Corr
0.83	GANX	Gain Therapeutics	Pair Corr
0.75	TMO	Thermo Fisher Scientific	Pair Corr
0.64	WAT	Waters	Pair Corr
0.81	LTRN	Lantern Pharma	Pair Corr
0.74	PHGE	Biomx Inc	Pair Corr

Moving against Nyxoah Stock

0.67	EXAS	EXACT Sciences	Pair Corr
0.54	TFX	Teleflex Incorporated	Pair Corr
0.44	EDIT	Editas Medicine Earnings Call Today	Pair Corr
0.41	COO	Cooper Companies, Earnings Call Today	Pair Corr
0.38	DHR	Danaher	Pair Corr
0.33	UNH	UnitedHealth Group	Pair Corr
0.89	INZY	Inozyme Pharma	Pair Corr
0.86	ADTX	Aditxt Inc	Pair Corr
0.81	ABOS	Acumen Pharmaceuticals	Pair Corr
0.6	KURA	Kura Oncology	Pair Corr
0.55	ILMN	Illumina	Pair Corr

Related Correlations Analysis

	MLSS	PDEX	INFU	KRMD	ZJYL	NXGL	DXR	LMAT	UTMD
MLSS		-0.54	-0.61	0.69	-0.31	-0.36	-0.52	-0.14	-0.5	MLSS
PDEX	-0.54		0.48	-0.43	0.15	0.35	0.67	-0.05	0.55	PDEX
INFU	-0.61	0.48		-0.33	0.14	0.03	0.72	0.53	0.79	INFU
KRMD	0.69	-0.43	-0.33		-0.32	0.0	-0.46	-0.22	-0.49	KRMD
ZJYL	-0.31	0.15	0.14	-0.32		-0.05	0.25	0.09	0.31	ZJYL
NXGL	-0.36	0.35	0.03	0.0	-0.05		-0.11	-0.6	-0.15	NXGL
DXR	-0.52	0.67	0.72	-0.46	0.25	-0.11		0.52	0.85	DXR
LMAT	-0.14	-0.05	0.53	-0.22	0.09	-0.6	0.52		0.57	LMAT
UTMD	-0.5	0.55	0.79	-0.49	0.31	-0.15	0.85	0.57		UTMD
	MLSS	PDEX	INFU	KRMD	ZJYL	NXGL	DXR	LMAT	UTMD

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

UTMD	+ 0.85	DXR
UTMD	+ 0.79	INFU
DXR	+ 0.72	INFU
KRMD	+ 0.69	MLSS
DXR	+ 0.67	PDEX
UTMD	+ 0.57	LMAT

High negative correlations

INFU	- 0.61	MLSS
LMAT	- 0.6	NXGL
PDEX	- 0.54	MLSS
DXR	- 0.52	MLSS
UTMD	- 0.5	MLSS
UTMD	- 0.49	KRMD

Risk-Adjusted Indicators

There is a big difference between Nyxoah Stock performing well and Nyxoah 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 Nyxoah'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
MLSS	4.52	0.79	0.18	0.56	4.07	(5.61)	9.88	(6.82)	35.99
PDEX	4.08	(0.19)	0.00	(0.11)	0.00	0.00	7.75	(10.00)	34.56
INFU	2.10	(0.19)	0.00	(0.17)	0.00	0.00	4.40	(4.79)	14.39
KRMD	2.98	0.28	0.08	0.23	3.10	(3.94)	8.65	(5.03)	23.89
ZJYL	6.65	(0.51)	0.00	(0.25)	0.00	0.00	14.29	(13.86)	38.64
NXGL	3.91	0.15	0.03	0.10	4.49	(4.33)	9.22	(5.85)	27.48
DXR	1.92	(0.27)	0.00	(0.41)	0.00	0.00	3.46	(3.62)	12.40
LMAT	1.37	0.01	0.01	0.02	2.19	(1.28)	2.32	(2.37)	11.04
UTMD	0.70	(0.15)	0.00	(0.32)	0.00	0.00	1.10	(1.82)	4.93

Nyxoah Corporate Management

Jeremy Feffer	VP Communication	Profile
Dorit Nahari	VP Operations	Profile
An Moonen	General Counsel	Profile
John Landry	Chief Officer	Profile
Francis Kim	Chief Officer	Profile
Mikaela Kirkwood	Corporate Manager	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC