Profound Medical Correlations

PROF Stock

USD 6.81 0.13 1.87%

The current 90-days correlation between Profound Medical Corp and Sight Sciences is 0.1 (i.e., Average diversification). The correlation of Profound Medical 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.

Profound Medical Correlation With Market

Good diversification

The correlation between Profound Medical Corp and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Profound Medical Corp 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 Profound Medical Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving against Profound Stock

0.51	PLX	Protalix Biotherapeutics	Pair Corr
0.4	MLSS	Milestone Scientific Earnings Call This Week	Pair Corr
0.37	HIMS	Hims Hers Health Aggressive Push	Pair Corr
0.48	REPL	Replimune Group	Pair Corr
0.31	NVCT	Nuvectis Pharma	Pair Corr

Related Correlations Analysis

	SIBN	SGHT	NVRO	FNA	LUNG	IRMD	OFIX	NPCE	ITGR	OSA
SIBN		-0.75	0.67	0.69	0.35	0.48	0.48	0.7	0.17	0.0	SIBN
SGHT	-0.75		-0.88	-0.86	-0.52	-0.07	0.0	-0.27	0.31	0.0	SGHT
NVRO	0.67	-0.88		0.95	0.55	-0.04	0.01	0.25	-0.37	0.0	NVRO
FNA	0.69	-0.86	0.95		0.49	0.05	0.06	0.34	-0.32	0.0	FNA
LUNG	0.35	-0.52	0.55	0.49		-0.46	-0.46	-0.08	-0.69	0.0	LUNG
IRMD	0.48	-0.07	-0.04	0.05	-0.46		0.79	0.75	0.79	0.0	IRMD
OFIX	0.48	0.0	0.01	0.06	-0.46	0.79		0.73	0.88	0.0	OFIX
NPCE	0.7	-0.27	0.25	0.34	-0.08	0.75	0.73		0.56	0.0	NPCE
ITGR	0.17	0.31	-0.37	-0.32	-0.69	0.79	0.88	0.56		0.0	ITGR
OSA	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		OSA
	SIBN	SGHT	NVRO	FNA	LUNG	IRMD	OFIX	NPCE	ITGR	OSA

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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

FNA	+ 0.95	NVRO
ITGR	+ 0.88	OFIX
OFIX	+ 0.79	IRMD
ITGR	+ 0.79	IRMD
NPCE	+ 0.75	IRMD
NPCE	+ 0.73	OFIX

High negative correlations

NVRO	- 0.88	SGHT
FNA	- 0.86	SGHT
SGHT	- 0.75	SIBN
ITGR	- 0.69	LUNG
LUNG	- 0.52	SGHT
OFIX	- 0.46	LUNG

Risk-Adjusted Indicators

There is a big difference between Profound Stock performing well and Profound Medical 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 Profound Medical'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
SIBN	2.49	0.28	0.11	0.13	2.28	(3.35)	5.29	(3.92)	22.82
SGHT	3.31	(0.16)	0.00	(0.23)	0.00	0.00	7.19	(6.05)	24.66
NVRO	2.59	0.70	0.19	0.50	2.44	(3.79)	6.13	(5.73)	30.68
FNA	1.17	0.36	0.25	1.16	1.04	(1.57)	3.78	(3.09)	8.63
LUNG	3.29	0.47	0.15	(2.08)	3.16	(3.75)	6.59	(5.54)	41.39
IRMD	1.31	0.04	0.04	0.00	1.94	(1.41)	2.43	(2.65)	11.55
OFIX	1.23	(0.06)	0.00	(0.14)	0.00	0.00	2.18	(2.74)	6.60
NPCE	3.17	0.29	0.07	0.14	3.79	(3.37)	5.89	(6.82)	17.98
ITGR	1.15	(0.22)	0.00	(0.30)	0.00	0.00	1.68	(3.63)	8.30
OSA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Profound Medical Corporate Management

Arun MBA	Chairman CEO	Profile
Hartmut Warnken	Senior Alliances	Profile
Jacques Cornet	Senior Sonalleve	Profile
Stephen Kilmer	Investor Relations	Profile
Mathieu Burtnyk	Senior TULSAPRO	Profile
Thomas MBA	Chief Officer	Profile
Abbey Goodman	Chief Global	Profile

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