Tactile Systems Correlations

TCMD Stock

USD 13.38 0.01 0.07%

The current 90-days correlation between Tactile Systems Tech and Treace Medical Concepts is 0.25 (i.e., Modest diversification). The correlation of Tactile Systems 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.

Tactile Systems Correlation With Market

Weak diversification

The correlation between Tactile Systems Technology and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tactile Systems Technology 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 Tactile Systems 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 population.

Moving together with Tactile Stock

0.79	HOLX	Hologic	Pair Corr
0.69	INFU	InfuSystems Holdings	Pair Corr
0.74	MLSS	Milestone Scientific Earnings Call Today	Pair Corr
0.73	ELEV	Elevation Oncology	Pair Corr
0.61	GPCR	Structure Therapeutics	Pair Corr
0.78	ZVSA	ZyVersa Therapeutics	Pair Corr
0.74	IMRX	Immuneering Corp	Pair Corr
0.71	KRON	Kronos Bio	Pair Corr
0.66	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.84	PYXS	Pyxis Oncology	Pair Corr
0.78	RAIN	Rain Enhancement Tec	Pair Corr
0.64	SCLX	Scilex Holding	Pair Corr
0.62	ASMB	Assembly Biosciences Downward Rally	Pair Corr

Moving against Tactile Stock

0.74	MNDR	Mobile health Network	Pair Corr
0.7	OCX	OncoCyte Corp	Pair Corr
0.5	LUCD	Lucid Diagnostics	Pair Corr
0.4	GOSS	Gossamer Bio	Pair Corr
0.32	PAVM	PAVmed Inc	Pair Corr
0.34	NVCT	Nuvectis Pharma	Pair Corr

Related Correlations Analysis

	CNMD	TMCI	SRDX	LIVN	RXST	AXGN	LUNG	OFIX	CVRX	AXDX
CNMD		-0.03	0.75	0.64	0.63	-0.17	-0.8	0.6	0.61	0.25	CNMD
TMCI	-0.03		-0.26	0.49	0.29	0.35	0.05	0.66	0.51	0.59	TMCI
SRDX	0.75	-0.26		0.53	0.57	-0.18	-0.46	0.41	0.43	-0.03	SRDX
LIVN	0.64	0.49	0.53		0.85	-0.1	-0.41	0.83	0.84	0.56	LIVN
RXST	0.63	0.29	0.57	0.85		-0.37	-0.37	0.63	0.62	0.55	RXST
AXGN	-0.17	0.35	-0.18	-0.1	-0.37		0.2	0.17	0.14	-0.19	AXGN
LUNG	-0.8	0.05	-0.46	-0.41	-0.37	0.2		-0.42	-0.5	-0.19	LUNG
OFIX	0.6	0.66	0.41	0.83	0.63	0.17	-0.42		0.78	0.51	OFIX
CVRX	0.61	0.51	0.43	0.84	0.62	0.14	-0.5	0.78		0.45	CVRX
AXDX	0.25	0.59	-0.03	0.56	0.55	-0.19	-0.19	0.51	0.45		AXDX
	CNMD	TMCI	SRDX	LIVN	RXST	AXGN	LUNG	OFIX	CVRX	AXDX

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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

RXST	+ 0.85	LIVN
CVRX	+ 0.84	LIVN
OFIX	+ 0.83	LIVN
CVRX	+ 0.78	OFIX
SRDX	+ 0.75	CNMD
OFIX	+ 0.66	TMCI

High negative correlations

LUNG	- 0.8	CNMD
CVRX	- 0.5	LUNG
LUNG	- 0.46	SRDX
OFIX	- 0.42	LUNG
LUNG	- 0.41	LIVN
LUNG	- 0.37	RXST

Risk-Adjusted Indicators

There is a big difference between Tactile Stock performing well and Tactile Systems 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 Tactile Systems' 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
CNMD	1.69	(0.18)	0.00	(0.21)	0.00	0.00	3.52	(3.53)	13.79
TMCI	2.73	0.38	0.14	0.24	2.22	(3.25)	8.14	(3.97)	20.40
SRDX	1.54	(0.38)	0.00	(0.54)	0.00	0.00	2.15	(5.79)	10.84
LIVN	1.69	(0.24)	0.00	(0.31)	0.00	0.00	2.87	(2.87)	20.10
RXST	1.86	(0.57)	0.00	(0.69)	0.00	0.00	3.32	(3.87)	11.84
AXGN	2.42	0.25	0.10	0.35	2.31	(3.46)	4.86	(3.47)	21.80
LUNG	3.43	0.27	0.07	(0.57)	3.54	(3.82)	6.59	(5.56)	41.39
OFIX	1.23	(0.11)	0.00	(0.12)	0.00	0.00	2.18	(2.74)	6.60
CVRX	2.94	0.14	0.04	0.08	3.45	(3.28)	5.58	(6.47)	14.59
AXDX	3.57	(0.29)	0.00	0.33	0.00	0.00	7.14	(7.02)	29.59

Tactile Systems Corporate Management

Peter Schaubach	Chief Officer	Profile
John Kaercher	Chief Officer	Profile
Sherri Ferstler	Senior Sales	Profile
Sunday Hoy	VP Officer	Profile
Eric Pauls	VP Sales	Profile
Aaron Snodgrass	Senior Sales	Profile
Jerry Sauber	Operations, Manufacturing	Profile

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