Brainsway Correlations

BWAY Stock

USD 12.10 0.01 0.08%

The current 90-days correlation between Brainsway and BrainsWay is -0.17 (i.e., Good diversification). The correlation of Brainsway 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.

Brainsway Correlation With Market

Weak diversification

The correlation between Brainsway and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brainsway and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Brainsway Stock

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

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

Moving together with Brainsway Stock

0.91	DH	Definitive Healthcare	Pair Corr
0.72	LH	Laboratory Earnings Call Tomorrow	Pair Corr
0.8	OM	Outset Medical	Pair Corr
0.82	VEEV	Veeva Systems Class	Pair Corr
0.78	VNRX	Volitionrx	Pair Corr
0.73	ENSG	Ensign Group Earnings Call Today	Pair Corr
0.87	FIGS	Figs Inc	Pair Corr
0.9	MDAI	Spectral AI	Pair Corr

Moving against Brainsway Stock

0.5	CI	Cigna Corp Earnings Call This Week	Pair Corr
0.39	DRIO	DarioHealth Corp	Pair Corr
0.88	EKSO	Ekso Bionics Holdings Earnings Call This Week	Pair Corr
0.72	EMBC	Embecta Corp	Pair Corr
0.67	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.61	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.59	ELMD	Electromed	Pair Corr
0.52	EDAP	EDAP TMS SA	Pair Corr
0.45	ICCM	Icecure Medical	Pair Corr
0.43	ELAB	Elevai Labs, Common	Pair Corr
0.9	NXLIW	Nexalin Technology	Pair Corr
0.88	MNDR	Mobile health Network	Pair Corr
0.84	MODD	Modular Medical	Pair Corr
0.8	NAOV	NanoVibronix	Pair Corr
0.78	MLSS	Milestone Scientific	Pair Corr
0.71	MXCT	MaxCyte	Pair Corr

Related Correlations Analysis

	ICCM	BRSYF	SRDX	SSKN	ARDS	AFIB	STIM	APYX
ICCM		-0.01	-0.01	0.52	0.0	0.0	0.46	-0.53	ICCM
BRSYF	-0.01		0.67	-0.41	0.0	0.0	-0.24	0.51	BRSYF
SRDX	-0.01	0.67		-0.53	0.0	0.0	-0.42	0.55	SRDX
SSKN	0.52	-0.41	-0.53		0.0	0.0	0.58	-0.68	SSKN
ARDS	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ARDS
AFIB	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AFIB
STIM	0.46	-0.24	-0.42	0.58	0.0	0.0		-0.76	STIM
APYX	-0.53	0.51	0.55	-0.68	0.0	0.0	-0.76		APYX
	ICCM	BRSYF	SRDX	SSKN	ARDS	AFIB	STIM	APYX

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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

SRDX	+ 0.67	BRSYF
STIM	+ 0.58	SSKN
APYX	+ 0.55	SRDX
SSKN	+ 0.52	ICCM
APYX	+ 0.51	BRSYF
STIM	+ 0.46	ICCM

High negative correlations

APYX	- 0.76	STIM
APYX	- 0.68	SSKN
SSKN	- 0.53	SRDX
APYX	- 0.53	ICCM
STIM	- 0.42	SRDX
SSKN	- 0.41	BRSYF

Risk-Adjusted Indicators

There is a big difference between Brainsway Stock performing well and Brainsway 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 Brainsway'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
ICCM	2.67	(0.23)	0.00	(0.30)	0.00	0.00	6.73	(6.19)	16.38
BRSYF	2.97	1.67	0.00	(1.44)	0.00	0.00	0.00	0.00	99.41
SRDX	1.40	0.18	0.01	1.29	1.88	(1.48)	3.18	(2.03)	15.01
SSKN	2.75	(0.14)	0.00	0.67	0.00	0.00	5.93	(6.42)	21.66
ARDS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AFIB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
STIM	2.44	0.14	0.02	0.49	2.57	(3.20)	6.39	(4.44)	14.01
APYX	6.09	1.53	0.26	2.00	4.73	(8.27)	16.82	(7.76)	58.64

Brainsway Corporate Management

Christopher Jako	Pres CEO	Profile
Ido Marom	Chief Officer	Profile
Colleen Hanlon	Vice Affairs	Profile
Gilead Moiseyev	Chief Officer	Profile
Moria Ankri	VP RD	Profile
Dor Hagai	Vice Operations	Profile
Pr Zangen	Member CoFounder	Profile

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