SurModics Correlations

SRDX Stock

USD 30.00 0.63 2.15%

The current 90-days correlation between SurModics and Electromed is 0.01 (i.e., Significant diversification). The correlation of SurModics 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.

SurModics Correlation With Market

Modest diversification

The correlation between SurModics and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SurModics 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 SurModics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

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

Moving together with SurModics Stock

0.88	OM	Outset Medical	Pair Corr
0.63	VERO	Venus Concept Upward Rally	Pair Corr
0.79	VREX	Varex Imaging Corp	Pair Corr
0.71	VVOS	Vivos Therapeutics Earnings Call This Week	Pair Corr
0.83	EKSO	Ekso Bionics Holdings	Pair Corr
0.92	ELAB	Elevai Labs, Common Trending	Pair Corr
0.86	EMBC	Embecta Corp	Pair Corr
0.74	ENOV	Enovis Corp	Pair Corr
0.61	EUDA	EUDA Health Holdings	Pair Corr
0.87	WORX	Scworx Corp	Pair Corr
0.87	FIGS	Figs Inc	Pair Corr
0.61	FLGT	Fulgent Genetics	Pair Corr
0.86	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.83	XAIR	Beyond Air	Pair Corr
0.89	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr

Moving against SurModics Stock

0.83	CI	Cigna Corp	Pair Corr
0.66	FEMY	Femasys	Pair Corr
0.62	LH	Laboratory	Pair Corr
0.61	EHAB	Enhabit	Pair Corr
0.51	GH	Guardant Health	Pair Corr
0.5	DOCS	Doximity	Pair Corr
0.49	VEEV	Veeva Systems Class	Pair Corr
0.41	EDAP	EDAP TMS SA	Pair Corr
0.88	CHE	Chemed Corp	Pair Corr
0.86	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.85	COR	Cencora	Pair Corr
0.82	AGL	agilon health	Pair Corr
0.81	DGX	Quest Diagnostics	Pair Corr
0.8	BAX	Baxter International	Pair Corr
0.78	ABT	Abbott Laboratories	Pair Corr
0.67	CAH	Cardinal Health	Pair Corr
0.64	ALC	Alcon AG Sell-off Trend	Pair Corr
0.54	BSX	Boston Scientific Corp	Pair Corr

Related Correlations Analysis

	OSA	LIVN	ELMD	KIDS	NPCE	INGN	LUNG	APYX	NUVA	CNMD
OSA		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	OSA
LIVN	0.0		0.72	-0.12	0.41	0.74	-0.62	0.77	0.0	0.79	LIVN
ELMD	0.0	0.72		0.32	0.63	0.91	-0.61	0.39	0.0	0.63	ELMD
KIDS	0.0	-0.12	0.32		0.3	0.33	-0.07	-0.46	0.0	-0.15	KIDS
NPCE	0.0	0.41	0.63	0.3		0.78	-0.03	0.11	0.0	0.16	NPCE
INGN	0.0	0.74	0.91	0.33	0.78		-0.49	0.33	0.0	0.54	INGN
LUNG	0.0	-0.62	-0.61	-0.07	-0.03	-0.49		-0.44	0.0	-0.82	LUNG
APYX	0.0	0.77	0.39	-0.46	0.11	0.33	-0.44		0.0	0.74	APYX
NUVA	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	NUVA
CNMD	0.0	0.79	0.63	-0.15	0.16	0.54	-0.82	0.74	0.0		CNMD
	OSA	LIVN	ELMD	KIDS	NPCE	INGN	LUNG	APYX	NUVA	CNMD

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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

INGN	+ 0.91	ELMD
CNMD	+ 0.79	LIVN
INGN	+ 0.78	NPCE
APYX	+ 0.77	LIVN
INGN	+ 0.74	LIVN
CNMD	+ 0.74	APYX

High negative correlations

CNMD	- 0.82	LUNG
LUNG	- 0.62	LIVN
LUNG	- 0.61	ELMD
LUNG	- 0.49	INGN
APYX	- 0.46	KIDS
APYX	- 0.44	LUNG

Risk-Adjusted Indicators

There is a big difference between SurModics Stock performing well and SurModics 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 SurModics' 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
OSA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIVN	1.68	(0.23)	0.00	(0.46)	0.00	0.00	2.90	(3.78)	20.10
ELMD	2.30	(0.10)	0.00	(0.19)	0.00	0.00	3.90	(4.34)	21.31
KIDS	1.90	0.28	0.12	0.18	2.17	(2.04)	3.54	(3.39)	15.28
NPCE	3.16	0.19	0.04	0.04	3.87	(3.32)	5.89	(6.82)	17.98
INGN	2.79	(0.21)	0.00	(0.24)	0.00	0.00	6.01	(5.56)	22.98
LUNG	3.35	0.40	0.14	(3.05)	3.34	(3.75)	6.59	(5.54)	41.39
APYX	3.32	(0.58)	0.00	(0.46)	0.00	0.00	6.02	(8.97)	19.92
NUVA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNMD	1.65	(0.21)	0.00	(0.35)	0.00	0.00	3.52	(3.53)	13.79

SurModics Corporate Management

Charles Olson	Sr. VP and General Manager of Medical Device	Profile
Timothy Arens	VP of Corporate Devel. and Strategy	Profile
Joseph Stich	VP and General Manager of In-Vitro Diagnostics	Profile
Gordon JD	General Legal	Profile
Gordon Weber	General Legal	Profile

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