Apyx Medical Correlations

APYX Stock

USD 2.26 0.02 0.88%

The current 90-days correlation between Apyx Medical and CVRx Inc is 0.31 (i.e., Weak diversification). The correlation of Apyx 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Apyx Medical Correlation With Market

Average diversification

The correlation between Apyx Medical and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apyx Medical and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Apyx Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Apyx Medical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

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

Moving together with Apyx Stock

0.92	DH	Definitive Healthcare	Pair Corr
0.77	LH	Laboratory Earnings Call This Week	Pair Corr
0.82	OM	Outset Medical	Pair Corr
0.85	VEEV	Veeva Systems Class	Pair Corr
0.66	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.79	VNRX	Volitionrx	Pair Corr
0.75	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.9	FIGS	Figs Inc	Pair Corr
0.9	MDAI	Spectral AI	Pair Corr
0.64	MHUA	Meihua International	Pair Corr

Moving against Apyx Stock

0.59	CI	Cigna Corp	Pair Corr
0.42	DRIO	DarioHealth Corp	Pair Corr
0.89	EKSO	Ekso Bionics Holdings	Pair Corr
0.74	EMBC	Embecta Corp	Pair Corr
0.74	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.68	ELMD	Electromed	Pair Corr
0.61	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.55	ICCM	Icecure Medical	Pair Corr
0.5	ELAB	Elevai Labs, Common	Pair Corr
0.35	EDAP	EDAP TMS SA	Pair Corr
0.88	MNDR	Mobile health Network	Pair Corr
0.85	NXLIW	Nexalin Technology	Pair Corr
0.83	MODD	Modular Medical	Pair Corr
0.81	NAOV	NanoVibronix	Pair Corr
0.79	MXCT	MaxCyte	Pair Corr
0.76	MLSS	Milestone Scientific	Pair Corr

Related Correlations Analysis

	CVRX	NPCE	ANIK	AXGN	CRNX	IDYA	HROW	EVLO	IRMD
CVRX		-0.14	0.32	0.4	0.39	0.16	0.12	0.0	-0.11	CVRX
NPCE	-0.14		0.01	-0.12	-0.01	-0.43	-0.37	0.0	-0.34	NPCE
ANIK	0.32	0.01		0.93	0.42	-0.57	-0.76	0.0	-0.71	ANIK
AXGN	0.4	-0.12	0.93		0.33	-0.52	-0.66	0.0	-0.68	AXGN
CRNX	0.39	-0.01	0.42	0.33		0.17	-0.03	0.0	-0.1	CRNX
IDYA	0.16	-0.43	-0.57	-0.52	0.17		0.83	0.0	0.84	IDYA
HROW	0.12	-0.37	-0.76	-0.66	-0.03	0.83		0.0	0.8	HROW
EVLO	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	EVLO
IRMD	-0.11	-0.34	-0.71	-0.68	-0.1	0.84	0.8	0.0		IRMD
	CVRX	NPCE	ANIK	AXGN	CRNX	IDYA	HROW	EVLO	IRMD

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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

AXGN	+ 0.93	ANIK
IRMD	+ 0.84	IDYA
HROW	+ 0.83	IDYA
IRMD	+ 0.8	HROW
CRNX	+ 0.42	ANIK
AXGN	+ 0.4	CVRX

High negative correlations

HROW	- 0.76	ANIK
IRMD	- 0.71	ANIK
IRMD	- 0.68	AXGN
HROW	- 0.66	AXGN
IDYA	- 0.57	ANIK
IDYA	- 0.52	AXGN

Risk-Adjusted Indicators

There is a big difference between Apyx Stock performing well and Apyx 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 Apyx 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
CVRX	4.29	0.32	0.06	0.29	7.34	(4.61)	11.74	(5.03)	50.43
NPCE	3.11	(0.11)	0.00	(20.60)	0.00	0.00	5.22	(5.92)	48.86
ANIK	2.46	(0.51)	0.00	(0.30)	0.00	0.00	4.73	(4.60)	25.11
AXGN	2.47	(0.58)	0.00	(0.49)	0.00	0.00	3.93	(4.67)	27.13
CRNX	2.21	(0.10)	(0.01)	0.07	2.93	(2.39)	4.17	(5.78)	15.72
IDYA	2.46	0.25	0.07	0.36	3.45	(2.66)	6.44	(4.71)	19.73
HROW	2.70	0.43	0.20	0.41	2.21	(3.23)	6.65	(4.07)	15.66
EVLO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IRMD	1.43	(0.01)	(0.01)	0.12	1.60	(1.56)	3.24	(2.45)	17.04

Apyx Medical Corporate Executives

Elected by the shareholders, the Apyx Medical's board of directors comprises two types of representatives: Apyx Medical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Apyx. The board's role is to monitor Apyx Medical's management team and ensure that shareholders' interests are well served. Apyx Medical's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Apyx Medical's outside directors are responsible for providing unbiased perspectives on the board's policies.

Tara Semb

Treasurer CFO

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