Fonar Correlations

FONR Stock

USD 14.06 0.02 0.14%

The current 90-days correlation between Fonar and Morningstar Unconstrained Allocation is 0.14 (i.e., Average diversification). The correlation of Fonar 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.

Fonar Correlation With Market

Average diversification

The correlation between Fonar and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fonar and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Fonar Stock

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

To learn how to invest in Fonar Stock, please use our How to Invest in Fonar guide.

Moving together with Fonar Stock

0.7	VEEV	Veeva Systems Class Sell-off Trend	Pair Corr
0.73	EHAB	Enhabit	Pair Corr
0.63	ENSG	Ensign Group	Pair Corr
0.74	ESTA	Establishment Labs	Pair Corr

Moving against Fonar Stock

0.63	CI	Cigna Corp	Pair Corr
0.63	EKSO	Ekso Bionics Holdings	Pair Corr
0.52	WGRX	Wellgistics Health,	Pair Corr
0.49	EUDA	EUDA Health Holdings	Pair Corr
0.39	EMBC	Embecta Corp	Pair Corr
0.36	ELMD	Electromed	Pair Corr
0.69	CNC	Centene Corp	Pair Corr
0.62	AGL	agilon health	Pair Corr
0.56	AMS	American Shared Hospital	Pair Corr
0.53	ALC	Alcon AG Sell-off Trend	Pair Corr
0.45	COO	Cooper Companies,	Pair Corr

Related Correlations Analysis

	SVTE	EHOS	HAON	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF
SVTE		0.0	1.0	0.0	0.0	0.0	0.0	1.0	0.0	0.0	SVTE
EHOS	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	EHOS
HAON	1.0	0.0		0.0	0.0	0.0	0.0	1.0	0.0	0.0	HAON
LBHIX	0.0	0.0	0.0		0.92	0.93	0.97	0.0	-0.47	-0.29	LBHIX
MSTSX	0.0	0.0	0.0	0.92		0.89	0.92	0.0	-0.49	-0.29	MSTSX
VIASP	0.0	0.0	0.0	0.93	0.89		0.9	0.0	-0.63	-0.25	VIASP
RRTLX	0.0	0.0	0.0	0.97	0.92	0.9		0.0	-0.44	-0.31	RRTLX
OSHDF	1.0	0.0	1.0	0.0	0.0	0.0	0.0		0.0	0.0	OSHDF
70082LAB3	0.0	0.0	0.0	-0.47	-0.49	-0.63	-0.44	0.0		0.18	70082LAB3
SITKF	0.0	0.0	0.0	-0.29	-0.29	-0.25	-0.31	0.0	0.18		SITKF
	SVTE	EHOS	HAON	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF

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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

HAON	+ 1.0	SVTE
OSHDF	+ 1.0	SVTE
OSHDF	+ 1.0	HAON
RRTLX	+ 0.97	LBHIX
VIASP	+ 0.93	LBHIX
MSTSX	+ 0.92	LBHIX

High negative correlations

70082LAB3	- 0.63	VIASP
70082LAB3	- 0.49	MSTSX
70082LAB3	- 0.47	LBHIX
70082LAB3	- 0.44	RRTLX
SITKF	- 0.31	RRTLX
SITKF	- 0.29	MSTSX

Risk-Adjusted Indicators

There is a big difference between Fonar Stock performing well and Fonar 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 Fonar'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
SVTE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EHOS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HAON	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LBHIX	0.24	0.03	0.00	0.85	0.28	(0.35)	0.72	(0.49)	1.94
MSTSX	0.84	0.06	0.03	0.10	1.35	(0.86)	1.87	(1.54)	10.06
VIASP	0.63	0.11	0.10	1.04	0.67	(0.75)	1.81	(1.03)	4.84
RRTLX	0.40	0.05	0.02	(1.20)	0.64	(0.43)	0.82	(0.94)	4.11
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
70082LAB3	1.57	(0.11)	0.00	18.81	0.00	0.00	2.71	(5.06)	20.47
SITKF	3.65	0.67	0.11	(12.65)	3.67	(5.70)	10.26	(6.98)	28.38

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