STAAR Surgical Correlations

STAA Stock

USD 17.92 0.33 1.81%

The current 90-days correlation between STAAR Surgical and Repligen is -0.09 (i.e., Good diversification). The correlation of STAAR Surgical 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.

STAAR Surgical Correlation With Market

Significant diversification

The correlation between STAAR Surgical and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STAAR Surgical 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 STAAR Surgical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For information on how to trade STAAR Stock refer to our How to Trade STAAR Stock guide.

Moving together with STAAR Stock

0.72	EYEN	Eyenovia	Pair Corr
0.63	LNDNF	Lundin Energy AB	Pair Corr
0.74	CAT	Caterpillar	Pair Corr
0.61	AA	Alcoa Corp	Pair Corr

Moving against STAAR Stock

0.84	T	ATT Inc Earnings Call This Week	Pair Corr
0.84	JNJ	Johnson Johnson	Pair Corr
0.77	NVRO	Nevro Corp	Pair Corr
0.77	CSCO	Cisco Systems	Pair Corr
0.75	INTC	Intel	Pair Corr
0.73	IBM	International Business	Pair Corr
0.72	VZ	Verizon Communications	Pair Corr
0.71	MCD	McDonalds	Pair Corr
0.67	CMRX	Chimerix Sell-off Trend	Pair Corr
0.6	CVX	Chevron Corp	Pair Corr
0.53	DD	Dupont De Nemours	Pair Corr
0.5	BKLRF	Berkeley Energy	Pair Corr
0.48	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	RMD	WST	ICUI	MMSI	MBOT	BDX	COO	HOLX	RGEN	HAE
RMD		0.54	0.68	0.53	0.25	0.63	0.79	0.55	0.65	0.15	RMD
WST	0.54		0.61	0.0	0.09	0.49	0.7	0.85	0.27	0.64	WST
ICUI	0.68	0.61		0.43	0.35	0.55	0.72	0.63	0.54	0.3	ICUI
MMSI	0.53	0.0	0.43		0.41	0.41	0.42	-0.13	0.49	-0.53	MMSI
MBOT	0.25	0.09	0.35	0.41		0.42	0.13	-0.11	0.3	-0.4	MBOT
BDX	0.63	0.49	0.55	0.41	0.42		0.45	0.39	0.66	0.01	BDX
COO	0.79	0.7	0.72	0.42	0.13	0.45		0.71	0.58	0.35	COO
HOLX	0.55	0.85	0.63	-0.13	-0.11	0.39	0.71		0.23	0.82	HOLX
RGEN	0.65	0.27	0.54	0.49	0.3	0.66	0.58	0.23		-0.03	RGEN
HAE	0.15	0.64	0.3	-0.53	-0.4	0.01	0.35	0.82	-0.03		HAE
	RMD	WST	ICUI	MMSI	MBOT	BDX	COO	HOLX	RGEN	HAE

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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

HOLX	+ 0.85	WST
HAE	+ 0.82	HOLX
COO	+ 0.79	RMD
COO	+ 0.72	ICUI
HOLX	+ 0.71	COO
COO	+ 0.7	WST

High negative correlations

HAE	- 0.53	MMSI
HAE	- 0.4	MBOT
HOLX	- 0.13	MMSI
HOLX	- 0.11	MBOT
HAE	- 0.03	RGEN
MMSI	- 0.0	WST

Risk-Adjusted Indicators

There is a big difference between STAAR Stock performing well and STAAR Surgical 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 STAAR Surgical'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
RMD	1.42	(0.10)	0.00	(0.25)	0.00	0.00	2.46	(3.30)	11.67
WST	2.07	(0.35)	0.00	1.21	0.00	0.00	4.21	(2.83)	42.43
ICUI	1.71	(0.04)	0.00	(0.11)	0.00	0.00	3.10	(3.61)	11.84
MMSI	1.25	0.02	0.00	(0.06)	0.00	0.00	2.91	(2.72)	7.42
MBOT	7.24	1.61	0.19	0.88	7.19	(10.62)	16.23	(9.41)	121.64
BDX	0.91	0.10	0.10	0.25	1.51	(0.97)	1.86	(1.60)	10.06
COO	1.38	(0.27)	0.00	(0.47)	0.00	0.00	2.11	(2.58)	9.15
HOLX	1.13	(0.28)	0.00	(0.86)	0.00	0.00	1.83	(2.07)	12.53
RGEN	2.14	0.02	0.00	(0.06)	0.00	0.00	4.79	(3.85)	19.94
HAE	1.82	(0.31)	0.00	(0.68)	0.00	0.00	3.37	(4.20)	15.77

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