Penumbra Correlations

PEN Stock

USD 275.29 0.78 0.28%

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

Penumbra Correlation With Market

Weak diversification

The correlation between Penumbra 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 Penumbra 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 Penumbra. 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.

To learn how to invest in Penumbra Stock, please use our How to Invest in Penumbra guide.

Moving together with Penumbra Stock

0.75	GH	Guardant Health	Pair Corr
0.87	LH	Laboratory	Pair Corr
0.68	MD	Mednax Inc	Pair Corr
0.66	DOCS	Doximity	Pair Corr
0.77	FEMY	Femasys	Pair Corr
0.81	ABT	Abbott Laboratories	Pair Corr
0.79	AGL	agilon health	Pair Corr
0.76	ALC	Alcon AG	Pair Corr
0.7	BAX	Baxter International	Pair Corr

Moving against Penumbra Stock

0.78	EMBC	Embecta Corp	Pair Corr
0.67	VREX	Varex Imaging Corp	Pair Corr
0.66	OM	Outset Medical	Pair Corr
0.59	VVOS	Vivos Therapeutics Earnings Call This Week	Pair Corr
0.59	EUDA	EUDA Health Holdings	Pair Corr
0.58	ELAB	Elevai Labs, Common Upward Rally	Pair Corr
0.52	WORX	Scworx Corp	Pair Corr
0.49	EKSO	Ekso Bionics Holdings	Pair Corr
0.46	FIGS	Figs Inc	Pair Corr
0.44	ESTA	Establishment Labs	Pair Corr
0.38	VNRX	Volitionrx Earnings Call This Week	Pair Corr
0.34	VERO	Venus Concept	Pair Corr
0.34	VTAK	Catheter Precision	Pair Corr
0.31	ENSG	Ensign Group	Pair Corr
0.85	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr
0.71	FLGT	Fulgent Genetics	Pair Corr
0.61	FOXO	FOXO Technologies	Pair Corr
0.58	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.51	XAIR	Beyond Air	Pair Corr
0.5	DHR	Danaher	Pair Corr
0.5	DXR	Daxor	Pair Corr
0.31	BVS	Bioventus	Pair Corr

Related Correlations Analysis

	SWAV	PODD	TMDX	MASI	INSP	NARI	INMD	TNDM	DXCM
SWAV		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SWAV
PODD	0.0		0.34	0.46	0.29	0.09	0.04	0.52	0.87	PODD
TMDX	0.0	0.34		0.39	0.25	0.59	0.54	-0.13	0.35	TMDX
MASI	0.0	0.46	0.39		0.06	0.43	0.53	-0.2	0.54	MASI
INSP	0.0	0.29	0.25	0.06		-0.43	-0.29	0.59	0.28	INSP
NARI	0.0	0.09	0.59	0.43	-0.43		0.72	-0.63	0.18	NARI
INMD	0.0	0.04	0.54	0.53	-0.29	0.72		-0.61	0.12	INMD
TNDM	0.0	0.52	-0.13	-0.2	0.59	-0.63	-0.61		0.42	TNDM
DXCM	0.0	0.87	0.35	0.54	0.28	0.18	0.12	0.42		DXCM
	SWAV	PODD	TMDX	MASI	INSP	NARI	INMD	TNDM	DXCM

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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

DXCM	+ 0.87	PODD
INMD	+ 0.72	NARI
NARI	+ 0.59	TMDX
TNDM	+ 0.59	INSP
INMD	+ 0.54	TMDX
DXCM	+ 0.54	MASI

High negative correlations

TNDM	- 0.63	NARI
TNDM	- 0.61	INMD
NARI	- 0.43	INSP
INMD	- 0.29	INSP
TNDM	- 0.2	MASI
TNDM	- 0.13	TMDX

Risk-Adjusted Indicators

There is a big difference between Penumbra Stock performing well and Penumbra 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 Penumbra'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
SWAV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PODD	1.43	0.05	0.00	(0.02)	0.00	0.00	3.65	(3.03)	9.83
TMDX	3.37	0.13	0.03	0.02	3.72	(3.88)	7.19	(6.92)	18.92
MASI	1.71	0.15	0.06	0.04	2.30	(1.67)	2.72	(4.09)	18.03
INSP	2.26	(0.09)	0.00	(0.23)	0.00	0.00	5.02	(5.62)	18.61
NARI	2.19	0.81	0.50	1.70	1.00	(2.80)	4.52	(3.20)	30.79
INMD	1.43	0.01	0.00	(0.07)	0.00	0.00	2.63	(3.46)	9.62
TNDM	2.83	(0.49)	0.00	(0.54)	0.00	0.00	5.33	(6.14)	43.18
DXCM	1.75	(0.02)	0.00	(0.11)	0.00	0.00	3.27	(3.22)	15.07

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