Quanterix Corp Correlations

QTRX Stock

USD 7.20 0.05 0.70%

The current 90-days correlation between Quanterix Corp and Orthopediatrics Corp is -0.03 (i.e., Good diversification). The correlation of Quanterix Corp 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.

Quanterix Corp Correlation With Market

Good diversification

The correlation between Quanterix Corp and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Quanterix 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 Quanterix 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 metropolitan statistical area.

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

Moving together with Quanterix Stock

0.71	EYEN	Eyenovia	Pair Corr
0.68	CLDX	Celldex Therapeutics	Pair Corr
0.74	MDAI	Spectral AI	Pair Corr
0.63	SRDX	SurModics	Pair Corr

Moving against Quanterix Stock

0.65	CPIX	Cumberland Pharmaceuticals	Pair Corr
0.65	INMD	InMode	Pair Corr
0.64	LUCD	Lucid Diagnostics Buyout Trend	Pair Corr
0.56	FNA	Paragon 28	Pair Corr
0.52	CMRX	Chimerix Sell-off Trend	Pair Corr
0.43	LUNG	Pulmonx Corp	Pair Corr
0.36	MASI	Masimo	Pair Corr
0.87	BAOB	Baraboo Bancorporation	Pair Corr
0.86	AXSM	Axsome Therapeutics	Pair Corr
0.72	CDR-PB	Cedar Realty Trust	Pair Corr
0.67	TCTZF	Tencent Holdings Downward Rally	Pair Corr
0.65	NVRO	Nevro Corp	Pair Corr
0.63	DNCVF	Defiance Silver Corp	Pair Corr
0.54	KGC	Kinross Gold Aggressive Push	Pair Corr
0.5	FWEDF	Fireweed Zinc	Pair Corr
0.49	INVX	Innovex International, Symbol Change	Pair Corr
0.44	GORO	Gold Resource	Pair Corr
0.43	TOI	Oncology Institute Earnings Call This Week	Pair Corr
0.4	CBYDF	Corby Spirit	Pair Corr
0.38	CDUAF	Canadian Utilities	Pair Corr
0.35	KEY-PI	KeyCorp	Pair Corr

Related Correlations Analysis

	BBLG	HSCS	TIVC	VVOS	TLIS	KIDS	OFIX	SGHT	NPCE	CVRX
BBLG		0.56	0.11	0.21	0.0	-0.16	0.72	0.32	0.48	0.53	BBLG
HSCS	0.56		0.49	0.14	0.0	-0.49	0.46	0.48	0.13	0.17	HSCS
TIVC	0.11	0.49		-0.06	0.0	-0.04	0.29	-0.2	0.25	0.14	TIVC
VVOS	0.21	0.14	-0.06		0.0	0.28	0.18	0.4	0.04	0.57	VVOS
TLIS	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	TLIS
KIDS	-0.16	-0.49	-0.04	0.28	0.0		0.15	-0.47	0.27	0.5	KIDS
OFIX	0.72	0.46	0.29	0.18	0.0	0.15		0.01	0.72	0.76	OFIX
SGHT	0.32	0.48	-0.2	0.4	0.0	-0.47	0.01		-0.29	0.0	SGHT
NPCE	0.48	0.13	0.25	0.04	0.0	0.27	0.72	-0.29		0.71	NPCE
CVRX	0.53	0.17	0.14	0.57	0.0	0.5	0.76	0.0	0.71		CVRX
	BBLG	HSCS	TIVC	VVOS	TLIS	KIDS	OFIX	SGHT	NPCE	CVRX

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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

CVRX	+ 0.76	OFIX
OFIX	+ 0.72	BBLG
NPCE	+ 0.72	OFIX
CVRX	+ 0.71	NPCE
CVRX	+ 0.57	VVOS
HSCS	+ 0.56	BBLG

High negative correlations

KIDS	- 0.49	HSCS
SGHT	- 0.47	KIDS
NPCE	- 0.29	SGHT
SGHT	- 0.2	TIVC
KIDS	- 0.16	BBLG
VVOS	- 0.06	TIVC

Risk-Adjusted Indicators

There is a big difference between Quanterix Stock performing well and Quanterix Corp 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 Quanterix Corp'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
BBLG	3.50	(0.31)	0.00	(0.34)	0.00	0.00	9.80	(7.87)	23.26
HSCS	3.12	(0.44)	0.00	(5.35)	0.00	0.00	6.41	(6.56)	19.85
TIVC	9.77	1.58	0.21	(1.72)	7.45	(14.30)	10.48	(13.84)	221.76
VVOS	4.23	(0.47)	0.00	(11.47)	0.00	0.00	9.54	(10.34)	28.71
TLIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KIDS	1.87	0.33	0.15	0.28	1.93	(2.08)	3.54	(3.09)	15.28
OFIX	1.21	(0.04)	0.00	(0.12)	0.00	0.00	2.18	(2.74)	6.60
SGHT	3.33	(0.19)	0.00	(0.26)	0.00	0.00	7.19	(6.05)	24.66
NPCE	3.14	0.26	0.06	0.12	3.80	(3.31)	5.89	(6.82)	17.98
CVRX	3.16	0.05	0.00	(0.04)	0.00	0.00	5.58	(6.75)	14.59

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