AtriCure Correlations

ATRC Stock

USD 31.30 0.58 1.89%

The current 90-days correlation between AtriCure and AngioDynamics is 0.42 (i.e., Very weak diversification). The correlation of AtriCure 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.

AtriCure Correlation With Market

Very weak diversification

The correlation between AtriCure and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AtriCure and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade AtriCure Stock refer to our How to Trade AtriCure Stock guide.

Moving against AtriCure Stock

0.32	DOCS	Doximity	Pair Corr
0.31	ECOR	Electrocore LLC	Pair Corr
0.47	CVS	CVS Health Corp	Pair Corr
0.36	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.46	NDRA	ENDRA Life Sciences Trending	Pair Corr

Related Correlations Analysis

	ANGO	AXGN	CNMD	LMAT
ANGO		-0.53	0.18	-0.17	ANGO
AXGN	-0.53		-0.41	0.53	AXGN
CNMD	0.18	-0.41		-0.55	CNMD
LMAT	-0.17	0.53	-0.55		LMAT
	ANGO	AXGN	CNMD	LMAT

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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

LMAT	+ 0.53	AXGN
CNMD	+ 0.18	ANGO

High negative correlations

LMAT	- 0.55	CNMD
AXGN	- 0.53	ANGO
CNMD	- 0.41	AXGN
LMAT	- 0.17	ANGO

Risk-Adjusted Indicators

There is a big difference between AtriCure Stock performing well and AtriCure 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 AtriCure'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
ANGO	2.21	(0.11)	(0.04)	0.14	2.45	(2.43)	5.66	(4.07)	18.90
AXGN	2.45	(0.31)	0.00	2.18	0.00	0.00	3.93	(4.67)	27.13
CNMD	2.15	(0.36)	(0.10)	0.00	2.59	(2.45)	4.29	(4.29)	20.87
LMAT	1.47	(0.01)	(0.08)	0.14	2.98	(1.32)	2.74	(2.53)	16.72

AtriCure Corporate Management

Deborah Yount	Chief Officer	Profile
Tonya SPHR	VP HR	Profile
Vinayak Doraiswamy	Chief Officer	Profile
JD CCEP	Chief Officer	Profile
Salvatore JD	Chief Officer	Profile
CCEP CCEP	Chief Officer	Profile

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