Silk Road Correlations
| SILKDelisted Stock | USD 27.49 0.00 0.00% |
The current 90-days correlation between Silk Road Medical and LivaNova PLC is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Silk Road moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Silk Road Medical moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Silk Road Correlation With Market
Significant diversification
The correlation between Silk Road Medical and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Silk Road Medical and DJI in the same portfolio, assuming nothing else is changed.
Silk |
Moving together with Silk Stock
Moving against Silk Stock
| 0.74 | RNAZ | Transcode Therapeutics | PairCorr |
| 0.72 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.68 | MULN | Mullen Automotive | PairCorr |
| 0.67 | HPQ | HP Inc | PairCorr |
| 0.66 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.63 | VZ | Verizon Communications Fiscal Year End 28th of January 2025 | PairCorr |
| 0.58 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.56 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
| 0.51 | QLGN | Qualigen Therapeutics | PairCorr |
| 0.51 | MRK | Merck Company Sell-off Trend | PairCorr |
| 0.35 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.34 | PFE | Pfizer Inc Sell-off Trend | PairCorr |
| 0.31 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Silk Stock performing well and Silk Road 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 Silk Road'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LIVN | 1.24 | (0.19) | 0.00 | 0.61 | 0.00 | 2.90 | 9.56 | |||
| KIDS | 2.47 | (0.16) | 0.00 | (0.14) | 0.00 | 4.85 | 16.62 | |||
| LUNG | 3.10 | (0.23) | 0.00 | (0.15) | 0.00 | 8.44 | 20.44 | |||
| SIBN | 2.67 | 0.06 | 0.01 | 0.12 | 4.11 | 5.99 | 26.24 | |||
| NPCE | 3.71 | 0.91 | 0.24 | (1.65) | 3.11 | 9.73 | 35.79 | |||
| NARI | 2.29 | 0.36 | 0.17 | (1.21) | 2.03 | 5.74 | 19.78 | |||
| TMDX | 3.31 | (1.14) | 0.00 | 16.73 | 0.00 | 4.04 | 32.89 | |||
| OFIX | 1.65 | 0.21 | 0.11 | 0.53 | 1.81 | 3.87 | 12.11 | |||
| RXST | 2.16 | (0.49) | 0.00 | 2.12 | 0.00 | 3.46 | 17.66 | |||
| SGHT | 3.06 | (0.78) | 0.00 | 0.90 | 0.00 | 6.65 | 18.22 |
Silk Road Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Silk Road stock to make a market-neutral strategy. Peer analysis of Silk Road could also be used in its relative valuation, which is a method of valuing Silk Road by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Silk Road Corporate Management
| Kevin Klemz | Chief EVP | Profile | |
| Sumaira Macdonald | Chief Medical Officer | Profile | |
| Mhairi Jones | VP Accounting | Profile | |
| Kevin Ballinger | Chief Sec | Profile | |
| Tammy Leitsinger | Compliance Affairs | Profile |
Still Interested in Silk Road Medical?
Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.