SINTX Technologies Correlations

SINT Stock

USD 4.38 1.07 19.63%

The current 90-days correlation between SINTX Technologies and ReShape Lifesciences is 0.35 (i.e., Weak diversification). The correlation of SINTX Technologies 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.

SINTX Technologies Correlation With Market

Average diversification

The correlation between SINTX Technologies and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SINTX Technologies 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 SINTX Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

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

Moving against SINTX Stock

0.42	A	Agilent Technologies Earnings Call Today	Pair Corr
0.41	WST	West Pharmaceutical	Pair Corr
0.4	EMBC	Embecta Corp	Pair Corr
0.4	ADUS	Addus HomeCare	Pair Corr
0.39	ANGO	AngioDynamics	Pair Corr
0.41	TMO	Thermo Fisher Scientific	Pair Corr
0.35	NTRA	Natera Inc Earnings Call Today	Pair Corr
0.34	WAT	Waters	Pair Corr
0.33	LTRN	Lantern Pharma	Pair Corr

Related Correlations Analysis

	RSLS	BBLG	RMED	TIVC	NUWE	THMO	NAOV	NXL	BJDX	INVO
RSLS		0.42	0.0	-0.61	-0.19	0.0	0.77	0.36	0.16	0.0	RSLS
BBLG	0.42		0.0	-0.31	0.53	0.0	0.61	0.79	-0.01	0.0	BBLG
RMED	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	RMED
TIVC	-0.61	-0.31	0.0		0.24	0.0	-0.41	-0.2	-0.13	0.0	TIVC
NUWE	-0.19	0.53	0.0	0.24		0.0	0.06	0.53	-0.11	0.0	NUWE
THMO	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	THMO
NAOV	0.77	0.61	0.0	-0.41	0.06	0.0		0.7	0.26	0.0	NAOV
NXL	0.36	0.79	0.0	-0.2	0.53	0.0	0.7		0.12	0.0	NXL
BJDX	0.16	-0.01	0.0	-0.13	-0.11	0.0	0.26	0.12		0.0	BJDX
INVO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		INVO
	RSLS	BBLG	RMED	TIVC	NUWE	THMO	NAOV	NXL	BJDX	INVO

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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

NXL	+ 0.79	BBLG
NAOV	+ 0.77	RSLS
NXL	+ 0.7	NAOV
NAOV	+ 0.61	BBLG
NUWE	+ 0.53	BBLG
NXL	+ 0.53	NUWE

High negative correlations

TIVC	- 0.61	RSLS
NAOV	- 0.41	TIVC
TIVC	- 0.31	BBLG
NXL	- 0.2	TIVC
NUWE	- 0.19	RSLS
BJDX	- 0.13	TIVC

Risk-Adjusted Indicators

There is a big difference between SINTX Stock performing well and SINTX Technologies 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 SINTX Technologies' 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
RSLS	5.47	(1.67)	0.00	(0.83)	0.00	0.00	10.71	(10.02)	64.76
BBLG	3.63	(0.27)	0.00	(0.36)	0.00	0.00	9.80	(7.84)	23.26
RMED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TIVC	9.23	2.39	0.31	(0.80)	6.23	(16.22)	7.41	(9.80)	215.67
NUWE	3.93	(0.07)	0.00	(0.03)	0.00	0.00	10.62	(6.92)	37.31
THMO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NAOV	5.99	(0.74)	0.00	(0.69)	0.00	0.00	12.96	(13.51)	62.96
NXL	4.84	(0.49)	0.00	(0.31)	0.00	0.00	10.77	(10.76)	27.72
BJDX	6.99	0.75	0.08	1.16	8.55	(7.52)	14.05	(13.14)	92.29
INVO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

SINTX Technologies Corporate Management

Michael Marcroft	Vice Marketing	Profile
Gregg Honigblum	Chief Officer	Profile
JD MBA	President, Chairman	Profile
David OBrien	Chief Officer	Profile
Gina Moss	Director Operations	Profile

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