ReShape Lifesciences Correlations

RSLS Stock

USD 0.63 0.03 4.55%

The current 90-days correlation between ReShape Lifesciences and SINTX Technologies is 0.32 (i.e., Weak diversification). The correlation of ReShape Lifesciences 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.

ReShape Lifesciences Correlation With Market

Average diversification

The correlation between ReShape Lifesciences and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ReShape Lifesciences 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 ReShape Lifesciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with ReShape Stock

0.92	HOLX	Hologic	Pair Corr
0.72	INFU	InfuSystems Holdings	Pair Corr
0.84	SSKN	STRATA Skin Sciences Earnings Call Tomorrow	Pair Corr
0.75	CDIOW	Cardio Diagnostics	Pair Corr
0.83	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.69	ELEV	Elevation Oncology	Pair Corr
0.72	ELVN	Enliven Therapeutics	Pair Corr
0.85	GPCR	Structure Therapeutics	Pair Corr
0.86	ZURA	Zura Bio Limited	Pair Corr
0.66	ZVSA	ZyVersa Therapeutics	Pair Corr
0.86	IMMX	Immix Biopharma	Pair Corr
0.79	IMRX	Immuneering Corp	Pair Corr
0.83	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.61	PHIO	Phio Pharmaceuticals Corp Earnings Call This Week	Pair Corr
0.72	PMVP	Pmv Pharmaceuticals	Pair Corr
0.93	PYXS	Pyxis Oncology	Pair Corr
0.92	SCLX	Scilex Holding	Pair Corr
0.9	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.74	ATNF	180 Life Sciences	Pair Corr
0.66	AVTE	Aerovate Therapeutics	Pair Corr

Moving against ReShape Stock

0.93	LUCD	Lucid Diagnostics	Pair Corr
0.88	GOSS	Gossamer Bio	Pair Corr
0.82	OCX	OncoCyte Corp	Pair Corr
0.64	MNDR	Mobile health Network	Pair Corr
0.57	PAVM	PAVmed Inc Earnings Call Today	Pair Corr
0.56	HIMS	Hims Hers Health Buyout Trend	Pair Corr
0.5	TMDX	TransMedics Group	Pair Corr
0.46	PLX	Protalix Biotherapeutics	Pair Corr
0.77	NVCT	Nuvectis Pharma	Pair Corr

Related Correlations Analysis

	SINT	BBLG	RMED	TIVC	NUWE	TLIS	TNON	INVO	HSDT	HSCS
SINT		0.0	0.0	0.34	0.15	0.0	0.06	0.0	0.06	0.3	SINT
BBLG	0.0		0.0	0.14	0.11	0.0	0.58	0.0	0.39	0.55	BBLG
RMED	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	RMED
TIVC	0.34	0.14	0.0		0.41	0.0	0.01	0.0	0.03	0.53	TIVC
NUWE	0.15	0.11	0.0	0.41		0.0	-0.32	0.0	-0.22	0.06	NUWE
TLIS	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	TLIS
TNON	0.06	0.58	0.0	0.01	-0.32	0.0		0.0	0.64	0.55	TNON
INVO	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	INVO
HSDT	0.06	0.39	0.0	0.03	-0.22	0.0	0.64	0.0		0.35	HSDT
HSCS	0.3	0.55	0.0	0.53	0.06	0.0	0.55	0.0	0.35		HSCS
	SINT	BBLG	RMED	TIVC	NUWE	TLIS	TNON	INVO	HSDT	HSCS

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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

HSDT	+ 0.64	TNON
TNON	+ 0.58	BBLG
HSCS	+ 0.55	BBLG
HSCS	+ 0.55	TNON
HSCS	+ 0.53	TIVC
NUWE	+ 0.41	TIVC

High negative correlations

TNON	- 0.32	NUWE
HSDT	- 0.22	NUWE
HSCS	- 0.0	INVO
HSDT	- 0.0	INVO
INVO	- 0.0	TNON
HSCS	- 0.0	TLIS

Risk-Adjusted Indicators

There is a big difference between ReShape Stock performing well and ReShape Lifesciences 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 ReShape Lifesciences' 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
SINT	5.33	0.46	0.07	0.60	5.91	(7.46)	10.63	(8.77)	90.56
BBLG	3.60	(0.18)	0.00	(0.22)	0.00	0.00	9.80	(7.87)	23.26
RMED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TIVC	9.76	1.69	0.22	(1.80)	7.51	(13.89)	10.48	(13.84)	221.76
NUWE	3.53	0.19	0.02	0.02	4.72	(3.81)	8.11	(6.85)	20.78
TLIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TNON	4.03	(0.85)	0.00	2.85	0.00	0.00	8.40	(7.39)	47.29
INVO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HSDT	7.47	0.66	0.08	0.31	6.68	(12.88)	17.19	(11.54)	110.17
HSCS	3.03	(0.32)	0.00	(5.58)	0.00	0.00	6.41	(6.41)	19.85

ReShape Lifesciences Corporate Management

MBA DVM	VP Officer	Profile
Al Diaz	Vice RD	Profile
DVM DVM	VP Officer	Profile
Thomas Stankovich	Chief Officer	Profile
Jody Dahlman	Director Communications	Profile
Katherine Tweden	CoFounder	Profile

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