Pro Dex Correlations

PDEX Stock

USD 49.78 0.89 1.82%

The correlation of Pro Dex 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.

Pro Dex Correlation With Market

Average diversification

The correlation between Pro Dex and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Dex and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Pro Dex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

For more information on how to buy Pro Stock please use our How to Invest in Pro Dex guide.

Moving together with Pro Stock

0.76	FLGT	Fulgent Genetics	Pair Corr
0.7	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr

Moving against Pro Stock

0.82	LH	Laboratory	Pair Corr
0.75	DOCS	Doximity	Pair Corr
0.71	DXCM	DexCom Inc	Pair Corr
0.66	GH	Guardant Health	Pair Corr
0.66	EDAP	EDAP TMS SA	Pair Corr
0.58	MD	Mednax Inc	Pair Corr
0.54	FEMY	Femasys	Pair Corr
0.36	CI	Cigna Corp	Pair Corr
0.36	EHAB	Enhabit	Pair Corr
0.34	ECOR	Electrocore LLC	Pair Corr
0.33	VEEV	Veeva Systems Class	Pair Corr
0.32	DH	Definitive Healthcare Buyout Trend	Pair Corr
0.85	BSX	Boston Scientific Corp	Pair Corr
0.83	CON	Concentra Group Holdings	Pair Corr
0.79	ABT	Abbott Laboratories	Pair Corr
0.75	ALC	Alcon AG	Pair Corr
0.68	DGX	Quest Diagnostics	Pair Corr
0.66	CAH	Cardinal Health	Pair Corr
0.64	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.61	AGL	agilon health	Pair Corr
0.56	FORA	Forian Inc Earnings Call This Week	Pair Corr
0.51	COR	Cencora	Pair Corr

Related Correlations Analysis

	CLPBY	OPSSF	SAUHY	NEPH	INFU	LMAT	UTMD	MLSS	BDXB
CLPBY		0.0	0.46	0.24	0.68	0.59	0.69	0.11	0.0	CLPBY
OPSSF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	OPSSF
SAUHY	0.46	0.0		0.31	0.19	0.59	0.15	0.68	0.0	SAUHY
NEPH	0.24	0.0	0.31		-0.08	0.03	0.14	0.34	0.0	NEPH
INFU	0.68	0.0	0.19	-0.08		0.77	0.84	0.07	0.0	INFU
LMAT	0.59	0.0	0.59	0.03	0.77		0.6	0.38	0.0	LMAT
UTMD	0.69	0.0	0.15	0.14	0.84	0.6		0.08	0.0	UTMD
MLSS	0.11	0.0	0.68	0.34	0.07	0.38	0.08		0.0	MLSS
BDXB	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		BDXB
	CLPBY	OPSSF	SAUHY	NEPH	INFU	LMAT	UTMD	MLSS	BDXB

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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

UTMD	+ 0.84	INFU
LMAT	+ 0.77	INFU
UTMD	+ 0.69	CLPBY
INFU	+ 0.68	CLPBY
MLSS	+ 0.68	SAUHY
UTMD	+ 0.6	LMAT

High negative correlations

INFU	- 0.08	NEPH
BDXB	- 0.0	MLSS
BDXB	- 0.0	UTMD
BDXB	- 0.0	LMAT
BDXB	- 0.0	INFU
BDXB	- 0.0	NEPH

Risk-Adjusted Indicators

There is a big difference between Pro Stock performing well and Pro Dex 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 Pro Dex'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
CLPBY	1.09	(0.19)	0.00	1.45	0.00	0.00	1.93	(2.33)	7.54
OPSSF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SAUHY	1.47	0.02	0.00	(0.05)	0.00	0.00	3.12	(2.95)	8.34
NEPH	2.51	0.07	0.03	0.05	2.92	(3.10)	5.48	(5.62)	17.79
INFU	2.51	(0.51)	0.00	(0.37)	0.00	0.00	4.40	(7.69)	19.13
LMAT	1.69	(0.12)	0.00	(0.26)	0.00	0.00	2.40	(3.83)	10.77
UTMD	0.66	(0.09)	0.00	(0.31)	0.00	0.00	1.10	(1.72)	4.92
MLSS	4.03	0.24	0.05	0.18	4.65	(4.75)	7.63	(8.11)	37.01
BDXB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Pro Dex Corporate Executives

Elected by the shareholders, the Pro Dex's board of directors comprises two types of representatives: Pro Dex inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Pro. The board's role is to monitor Pro Dex's management team and ensure that shareholders' interests are well served. Pro Dex's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Pro Dex's outside directors are responsible for providing unbiased perspectives on the board's policies.

Alisha Charlton

CFO Secretary

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