Beyond Medical Correlations

DOCKF Stock

USD 0.28 0.00 0.00%

The current 90-days correlation between Beyond Medical Techn and Logan Ridge Finance is 0.01 (i.e., Significant diversification). The correlation of Beyond 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.

Beyond Medical Correlation With Market

Good diversification

The correlation between Beyond Medical Technologies and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beyond Medical Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Beyond Stock

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

Moving together with Beyond Stock

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0.71	FTEK	Fuel Tech	Pair Corr
0.72	PCT	Purecycle Technologies	Pair Corr
0.81	ZWS	Zurn Elkay Water Earnings Call This Week	Pair Corr
0.69	ZONE	CleanCore Solutions	Pair Corr
0.79	ADUR	Aduro Clean Technologies Potential Growth	Pair Corr
0.71	ATMU	Atmus Filtration Tec	Pair Corr
0.66	PCTTW	PureCycle Technologies Downward Rally	Pair Corr
0.65	PCTTU	Purecycle Technologies	Pair Corr
0.68	TOMZ	TOMI Environmental	Pair Corr
0.82	CECO	CECO Environmental Corp Earnings Call This Week	Pair Corr
0.75	J	Jacobs Solutions	Pair Corr
0.72	R	Ryder System Earnings Call This Week	Pair Corr
0.92	AL	Air Lease	Pair Corr
0.86	AP	Ampco Pittsburgh	Pair Corr
0.78	AZ	A2Z Smart Technologies	Pair Corr
0.84	BA	Boeing Earnings Call This Week	Pair Corr
0.66	BE	Bloom Energy Corp	Pair Corr
0.87	BV	BrightView Holdings	Pair Corr
0.86	BW	Babcock Wilcox Enter	Pair Corr
0.9	BZ	Kanzhun Ltd ADR	Pair Corr
0.92	CP	Canadian Pacific Railway Earnings Call This Week	Pair Corr
0.82	CR	Crane Company Earnings Call This Week	Pair Corr
0.89	CW	Curtiss Wright	Pair Corr
0.91	DE	Deere Company	Pair Corr
0.85	DY	Dycom Industries	Pair Corr
0.87	FA	First Advantage Corp	Pair Corr

Moving against Beyond Stock

0.87	ERII	Energy Recovery Earnings Call This Week	Pair Corr
0.9	MG	Mistras Group Earnings Call This Week	Pair Corr
0.71	NL	NL Industries	Pair Corr
0.57	PC	Premium Catering Trending	Pair Corr
0.36	GP	GreenPower Motor	Pair Corr

Related Correlations Analysis

	LRFC	WMG	PFLT	TME	AMP	SYRE	RDNT
LRFC		0.52	0.45	0.47	0.44	0.1	0.01	LRFC
WMG	0.52		0.22	0.01	-0.07	-0.19	-0.34	WMG
PFLT	0.45	0.22		0.92	0.82	0.68	0.57	PFLT
TME	0.47	0.01	0.92		0.91	0.69	0.62	TME
AMP	0.44	-0.07	0.82	0.91		0.61	0.77	AMP
SYRE	0.1	-0.19	0.68	0.69	0.61		0.53	SYRE
RDNT	0.01	-0.34	0.57	0.62	0.77	0.53		RDNT
	LRFC	WMG	PFLT	TME	AMP	SYRE	RDNT

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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

TME	+ 0.92	PFLT
AMP	+ 0.91	TME
AMP	+ 0.82	PFLT
RDNT	+ 0.77	AMP
SYRE	+ 0.69	TME
SYRE	+ 0.68	PFLT

High negative correlations

RDNT	- 0.34	WMG
SYRE	- 0.19	WMG
AMP	- 0.07	WMG

Risk-Adjusted Indicators

There is a big difference between Beyond Stock performing well and Beyond 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 Beyond 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
LRFC	1.07	0.07	(0.04)	2.42	1.38	(1.26)	2.28	(3.02)	11.85
WMG	1.26	0.01	(0.01)	0.15	1.94	(1.30)	2.26	(2.34)	10.96
PFLT	0.85	0.26	0.06	(0.82)	0.92	(0.95)	1.89	(1.60)	5.26
TME	1.96	0.70	0.35	1.02	1.42	(2.50)	4.45	(3.60)	19.82
AMP	1.02	0.01	0.03	0.14	1.19	(1.12)	2.85	(2.69)	7.81
SYRE	3.11	0.26	0.07	0.32	4.02	(3.22)	7.10	(6.70)	21.28
RDNT	1.78	(0.03)	0.01	0.11	2.04	(1.88)	3.65	(3.49)	9.65

Beyond Medical Corporate Management

Stevenson Ty	Interim Officer	Profile
Kulwant Malhi	Chairman CEO	Profile
CPA CGA	Chief Officer	Profile
Karen Lauriston	Community Investor	Profile
Litong Cao	Chief Officer	Profile

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