Stereotaxis Correlations

STXS Stock

USD 2.23 0.06 2.62%

The current 90-days correlation between Stereotaxis and Accuray Incorporated is 0.15 (i.e., Average diversification). The correlation of Stereotaxis 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.

Stereotaxis Correlation With Market

Average diversification

The correlation between Stereotaxis and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stereotaxis 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 Stereotaxis. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

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

Moving together with Stereotaxis Stock

0.73	IRIX	IRIDEX	Pair Corr
0.64	SRDX	SurModics	Pair Corr

Moving against Stereotaxis Stock

0.66	DRIO	DarioHealth Corp	Pair Corr
0.34	MDT	Medtronic PLC	Pair Corr
0.32	WGS	GeneDx Holdings Corp	Pair Corr
0.59	BWAY	Brainsway	Pair Corr
0.35	DNLI	Denali Therapeutics	Pair Corr

Related Correlations Analysis

	ARAY	ANGO	CUTR	ATRC	EDAP
ARAY		0.31	0.11	-0.09	0.46	ARAY
ANGO	0.31		0.18	-0.08	0.47	ANGO
CUTR	0.11	0.18		-0.87	0.6	CUTR
ATRC	-0.09	-0.08	-0.87		-0.57	ATRC
EDAP	0.46	0.47	0.6	-0.57		EDAP
	ARAY	ANGO	CUTR	ATRC	EDAP

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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

EDAP	+ 0.6	CUTR
EDAP	+ 0.47	ANGO
EDAP	+ 0.46	ARAY
ANGO	+ 0.31	ARAY
CUTR	+ 0.18	ANGO
CUTR	+ 0.11	ARAY

High negative correlations

ATRC	- 0.87	CUTR
EDAP	- 0.57	ATRC
ATRC	- 0.09	ARAY
ATRC	- 0.08	ANGO

Risk-Adjusted Indicators

There is a big difference between Stereotaxis Stock performing well and Stereotaxis 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 Stereotaxis' 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
ARAY	3.27	(0.31)	0.00	(0.04)	0.00	0.00	7.61	(7.91)	20.46
ANGO	2.10	(0.24)	0.00	(0.02)	0.00	0.00	3.71	(4.03)	18.73
CUTR	4.95	(0.86)	0.00	(0.26)	0.00	0.00	12.12	(9.37)	44.12
ATRC	1.80	0.43	0.24	0.50	1.37	(2.13)	4.67	(3.12)	23.09
EDAP	2.88	(0.28)	0.00	(0.28)	0.00	0.00	6.27	(5.94)	20.30

Stereotaxis Corporate Management

Nathan Kastelein	RD Concepts	Profile
John Platt	Director Software	Profile
Brian Kidd	RD Devel	Profile
Laura Garth	General Secretary	Profile
Keith Galloway	Vice Operations	Profile

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