Sharps Technology Correlations

STSS Stock

USD 0.33 0.05 17.86%

The current 90-days correlation between Sharps Technology and Meihua International Medical is 0.11 (i.e., Average diversification). The correlation of Sharps Technology 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.

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

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

Moving together with Sharps Stock

0.65	DHR	Danaher	Pair Corr
0.74	TFX	Teleflex Incorporated	Pair Corr
0.73	ILMN	Illumina	Pair Corr
0.73	INZY	Inozyme Pharma	Pair Corr
0.87	ABOS	Acumen Pharmaceuticals	Pair Corr

Moving against Sharps Stock

0.66	IDXX	IDEXX Laboratories	Pair Corr
0.66	ANGO	AngioDynamics	Pair Corr
0.46	MMSI	Merit Medical Systems	Pair Corr
0.38	A	Agilent Technologies	Pair Corr
0.86	OPT	Opthea	Pair Corr
0.81	LTRN	Lantern Pharma	Pair Corr
0.72	FENC	Fennec Pharmaceuticals	Pair Corr
0.72	PHGE	Biomx Inc	Pair Corr
0.61	TMO	Thermo Fisher Scientific	Pair Corr
0.6	GANX	Gain Therapeutics	Pair Corr
0.49	CUE	Cue Biopharma	Pair Corr
0.49	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.48	WAT	Waters	Pair Corr

Related Correlations Analysis

	ZJYL	MHUA	GMVD	GCTK	LUCY	NXGL	AVGR	MBOT	POCI	KRMD
ZJYL		0.16	0.0	0.25	0.31	0.03	0.1	-0.15	0.32	-0.18	ZJYL
MHUA	0.16		0.0	0.57	0.64	-0.06	0.36	-0.62	0.31	-0.38	MHUA
GMVD	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	GMVD
GCTK	0.25	0.57	0.0		0.63	0.52	0.43	-0.8	0.45	-0.47	GCTK
LUCY	0.31	0.64	0.0	0.63		0.0	0.66	-0.48	0.59	-0.32	LUCY
NXGL	0.03	-0.06	0.0	0.52	0.0		0.05	-0.44	0.26	-0.02	NXGL
AVGR	0.1	0.36	0.0	0.43	0.66	0.05		-0.1	0.33	-0.27	AVGR
MBOT	-0.15	-0.62	0.0	-0.8	-0.48	-0.44	-0.1		-0.25	0.56	MBOT
POCI	0.32	0.31	0.0	0.45	0.59	0.26	0.33	-0.25		0.21	POCI
KRMD	-0.18	-0.38	0.0	-0.47	-0.32	-0.02	-0.27	0.56	0.21		KRMD
	ZJYL	MHUA	GMVD	GCTK	LUCY	NXGL	AVGR	MBOT	POCI	KRMD

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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

AVGR	+ 0.66	LUCY
LUCY	+ 0.64	MHUA
LUCY	+ 0.63	GCTK
POCI	+ 0.59	LUCY
GCTK	+ 0.57	MHUA
KRMD	+ 0.56	MBOT

High negative correlations

MBOT	- 0.8	GCTK
MBOT	- 0.62	MHUA
MBOT	- 0.48	LUCY
KRMD	- 0.47	GCTK
MBOT	- 0.44	NXGL
KRMD	- 0.38	MHUA

Risk-Adjusted Indicators

There is a big difference between Sharps Stock performing well and Sharps Technology 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 Sharps Technology'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
ZJYL	6.66	(0.31)	0.00	(0.16)	0.00	0.00	14.29	(13.86)	38.64
MHUA	4.50	(0.15)	0.00	(0.09)	0.00	0.00	9.38	(11.86)	72.35
GMVD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GCTK	8.69	(3.02)	0.00	(16.42)	0.00	0.00	19.55	(24.47)	77.82
LUCY	4.04	(0.65)	0.00	(1.17)	0.00	0.00	7.56	(8.99)	24.79
NXGL	3.85	0.07	0.01	0.04	4.44	(4.30)	9.22	(5.85)	27.48
AVGR	10.38	0.76	0.06	0.49	11.53	(16.33)	33.33	(24.22)	156.92
MBOT	6.68	1.51	0.18	1.38	6.83	(9.57)	16.23	(9.41)	121.64
POCI	2.08	(0.32)	0.00	(0.42)	0.00	0.00	3.94	(4.19)	13.51
KRMD	2.91	0.20	0.06	0.16	3.21	(3.90)	8.65	(5.03)	23.89

Sharps Technology Corporate Management

Robert Hayes	CEO Director	Profile
Alan Blackman	Chief CoChairman	Profile
Steven MD	Chief Officer	Profile
Ben Scheu	Senior Sales	Profile
Frank Parrado	Corporate Controller	Profile
Barry Berler	Chief Inventor	Profile

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