Utah Medical Correlations

UTMD Stock

USD 57.01 0.20 0.35%

The current 90-days correlation between Utah Medical Products and Precision Optics, is -0.03 (i.e., Good diversification). The correlation of Utah Medical 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.

Utah Medical Correlation With Market

Very weak diversification

The correlation between Utah Medical Products and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Utah Medical Products 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 Utah Medical Products. 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 Utah Stock

0.76	HOLX	Hologic	Pair Corr
0.85	INFU	InfuSystems Holdings	Pair Corr
0.71	SSKN	STRATA Skin Sciences Earnings Call Tomorrow	Pair Corr
0.72	CDIOW	Cardio Diagnostics	Pair Corr
0.68	ELEV	Elevation Oncology	Pair Corr
0.74	GPCR	Structure Therapeutics	Pair Corr
0.61	ZURA	Zura Bio Limited	Pair Corr
0.76	ZVSA	ZyVersa Therapeutics	Pair Corr
0.63	IMMX	Immix Biopharma	Pair Corr
0.62	KRON	Kronos Bio	Pair Corr
0.66	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.65	PMVP	Pmv Pharmaceuticals	Pair Corr
0.78	PYXS	Pyxis Oncology	Pair Corr
0.77	SCLX	Scilex Holding	Pair Corr
0.72	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.61	ATNF	180 Life Sciences	Pair Corr

Moving against Utah Stock

0.83	OCX	OncoCyte Corp	Pair Corr
0.74	MNDR	Mobile health Network	Pair Corr
0.71	GOSS	Gossamer Bio	Pair Corr
0.68	LUCD	Lucid Diagnostics	Pair Corr
0.41	TMDX	TransMedics Group	Pair Corr
0.31	PLX	Protalix Biotherapeutics	Pair Corr
0.7	NVCT	Nuvectis Pharma	Pair Corr

Related Correlations Analysis

	POCI	KRMD	INFU	MLSS	PDEX	LMAT	ANGO	ATRC	AKYA
POCI		0.68	0.57	0.3	0.23	0.23	0.28	-0.03	0.76	POCI
KRMD	0.68		0.83	0.55	-0.29	0.74	0.49	0.42	0.74	KRMD
INFU	0.57	0.83		0.24	-0.14	0.79	0.32	0.17	0.71	INFU
MLSS	0.3	0.55	0.24		-0.44	0.49	0.85	0.79	0.55	MLSS
PDEX	0.23	-0.29	-0.14	-0.44		-0.47	-0.2	-0.76	0.12	PDEX
LMAT	0.23	0.74	0.79	0.49	-0.47		0.55	0.57	0.57	LMAT
ANGO	0.28	0.49	0.32	0.85	-0.2	0.55		0.61	0.69	ANGO
ATRC	-0.03	0.42	0.17	0.79	-0.76	0.57	0.61		0.19	ATRC
AKYA	0.76	0.74	0.71	0.55	0.12	0.57	0.69	0.19		AKYA
	POCI	KRMD	INFU	MLSS	PDEX	LMAT	ANGO	ATRC	AKYA

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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

ANGO	+ 0.85	MLSS
INFU	+ 0.83	KRMD
LMAT	+ 0.79	INFU
ATRC	+ 0.79	MLSS
AKYA	+ 0.76	POCI
LMAT	+ 0.74	KRMD

High negative correlations

ATRC	- 0.76	PDEX
LMAT	- 0.47	PDEX
PDEX	- 0.44	MLSS
PDEX	- 0.29	KRMD
ANGO	- 0.2	PDEX
PDEX	- 0.14	INFU

Risk-Adjusted Indicators

There is a big difference between Utah Stock performing well and Utah Medical 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 Utah Medical'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
POCI	2.26	(0.05)	0.00	(0.17)	0.00	0.00	4.44	(4.04)	13.51
KRMD	2.81	(0.44)	0.00	(0.31)	0.00	0.00	6.52	(5.70)	27.21
INFU	2.53	(0.47)	0.00	(0.34)	0.00	0.00	4.40	(7.69)	19.13
MLSS	4.01	0.53	0.10	0.57	4.79	(4.50)	7.63	(8.11)	37.01
PDEX	3.75	0.17	0.04	0.16	4.22	(4.25)	8.67	(6.88)	34.56
LMAT	1.67	(0.22)	0.00	(0.38)	0.00	0.00	2.40	(3.83)	10.56
ANGO	2.97	0.32	0.11	0.36	2.94	(3.78)	5.00	(4.95)	46.09
ATRC	2.14	0.20	0.06	0.10	3.02	(2.09)	4.56	(4.77)	16.13
AKYA	3.63	(0.34)	0.00	(8.92)	0.00	0.00	6.29	(7.04)	25.17

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