Sight Sciences Correlations

SGHT Stock

USD 2.74 0.18 7.03%

The current 90-days correlation between Sight Sciences and Si Bone is 0.35 (i.e., Weak diversification). The correlation of Sight Sciences 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.

Sight Sciences Correlation With Market

Average diversification

The correlation between Sight Sciences and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sight Sciences and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sight Sciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

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

Moving together with Sight Stock

0.61	COO	Cooper Companies, Downward Rally	Pair Corr
0.8	TFX	Teleflex Incorporated Earnings Call This Week	Pair Corr
0.73	PAVM	PAVmed Inc	Pair Corr
0.79	SRDX	SurModics	Pair Corr
0.82	DSGN	Design Therapeutics	Pair Corr
0.94	ERAS	Erasca Inc	Pair Corr
0.78	EWTX	Edgewise Therapeutics Earnings Call This Week	Pair Corr
0.81	FDMT	4D Molecular Therapeutics	Pair Corr
0.78	FHTX	Foghorn Therapeutics Trending	Pair Corr
0.93	CGC	Canopy Growth Corp	Pair Corr
0.63	MRK	Merck Company	Pair Corr
0.9	GBIO	Generation Bio	Pair Corr

Moving against Sight Stock

0.83	ANGO	AngioDynamics	Pair Corr
0.81	NPCE	Neuropace	Pair Corr
0.76	ELMD	Electromed	Pair Corr
0.74	IRMD	Iradimed	Pair Corr
0.71	DRTS	Alpha Tau Medical	Pair Corr
0.63	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.55	HYPR	Hyperfine	Pair Corr
0.49	INGN	Inogen Inc	Pair Corr
0.35	SSY	SunLink Health Systems	Pair Corr
0.32	ITGR	Integer Holdings Corp	Pair Corr
0.77	GOSS	Gossamer Bio	Pair Corr
0.57	REVBW	Revelation Biosciences	Pair Corr
0.56	GILD	Gilead Sciences	Pair Corr
0.54	KRON	Kronos Bio	Pair Corr
0.44	NBIX	Neurocrine Biosciences	Pair Corr
0.39	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	SIBN	RPID	TCMD	LUNG	AORT	ANIK	OFIX	AVNS	FNA	VREX
SIBN		0.68	0.01	-0.02	0.82	0.06	0.1	-0.33	0.63	-0.6	SIBN
RPID	0.68		-0.11	0.14	0.52	0.49	0.18	-0.15	0.76	-0.43	RPID
TCMD	0.01	-0.11		-0.24	0.45	0.16	0.13	0.03	0.17	0.49	TCMD
LUNG	-0.02	0.14	-0.24		-0.18	0.0	0.09	0.14	-0.34	-0.06	LUNG
AORT	0.82	0.52	0.45	-0.18		0.15	0.14	-0.29	0.64	-0.25	AORT
ANIK	0.06	0.49	0.16	0.0	0.15		0.7	0.65	0.26	0.35	ANIK
OFIX	0.1	0.18	0.13	0.09	0.14	0.7		0.79	-0.09	0.45	OFIX
AVNS	-0.33	-0.15	0.03	0.14	-0.29	0.65	0.79		-0.45	0.57	AVNS
FNA	0.63	0.76	0.17	-0.34	0.64	0.26	-0.09	-0.45		-0.41	FNA
VREX	-0.6	-0.43	0.49	-0.06	-0.25	0.35	0.45	0.57	-0.41		VREX
	SIBN	RPID	TCMD	LUNG	AORT	ANIK	OFIX	AVNS	FNA	VREX

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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

AORT	+ 0.82	SIBN
AVNS	+ 0.79	OFIX
FNA	+ 0.76	RPID
OFIX	+ 0.7	ANIK
RPID	+ 0.68	SIBN
AVNS	+ 0.65	ANIK

High negative correlations

VREX	- 0.6	SIBN
FNA	- 0.45	AVNS
VREX	- 0.43	RPID
VREX	- 0.41	FNA
FNA	- 0.34	LUNG
AVNS	- 0.33	SIBN

Risk-Adjusted Indicators

There is a big difference between Sight Stock performing well and Sight Sciences 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 Sight Sciences' 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	2.66	0.17	0.05	0.14	3.61	(3.01)	4.90	(4.53)	22.82
RPID	5.55	1.82	0.36	0.61	4.01	(7.24)	18.63	(6.28)	37.28
TCMD	1.69	0.24	0.13	0.26	1.66	(2.17)	3.27	(3.21)	16.84
LUNG	2.77	(0.05)	0.00	(0.09)	0.00	0.00	5.28	(5.32)	16.45
AORT	1.31	0.07	0.04	0.12	1.56	(1.40)	3.17	(2.30)	7.49
ANIK	1.27	0.05	0.03	0.07	1.40	(1.46)	2.82	(2.46)	6.97
OFIX	1.32	(0.06)	0.00	(0.08)	0.00	0.00	2.73	(3.15)	8.72
AVNS	1.60	(0.30)	0.00	(0.25)	0.00	0.00	3.82	(3.00)	10.04
FNA	2.57	1.02	0.43	(2.40)	1.49	(3.32)	5.00	(3.54)	43.16
VREX	2.16	(0.05)	0.00	(0.03)	0.00	0.00	5.62	(3.47)	26.35

Sight Sciences Corporate Management

MBA BS	VP Operations	Profile
Stacie Rodgers	VP HR	Profile
John Liu	VP Access	Profile
Stephen JD	Secretary	Profile
Reay MD	Chief Officer	Profile
Sam Park	Chief Officer	Profile
John Ordway	VP Operations	Profile

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