Intuitive Surgical Correlations

ISRG Stock

USD 547.36 8.56 1.54%

The current 90-days correlation between Intuitive Surgical and ResMed Inc is 0.29 (i.e., Modest diversification). The correlation of Intuitive Surgical 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.

Intuitive Surgical Correlation With Market

Modest diversification

The correlation between Intuitive Surgical and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intuitive Surgical and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Intuitive Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Intuitive Surgical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For more detail on how to invest in Intuitive Stock please use our How to Invest in Intuitive Surgical guide.

Moving together with Intuitive Stock

0.75	688656	HOB Biotech Group	Pair Corr
0.81	DHR	Danaher	Pair Corr
0.62	OFIX	Orthofix Medical	Pair Corr
0.65	PROF	Profound Medical Corp	Pair Corr
0.73	002432	Andon Health	Pair Corr
0.76	SIBN	Si Bone Potential Growth	Pair Corr

Moving against Intuitive Stock

0.9	ICCM	Icecure Medical	Pair Corr
0.86	MBOT	Microbot Medical	Pair Corr
0.76	CREO	Creo Medical Group	Pair Corr
0.72	OM	Outset Medical	Pair Corr
0.72	AHG	Akso Health Group	Pair Corr
0.69	XRAY	Dentsply Sirona	Pair Corr
0.68	MHC	MyHealthChecked Plc	Pair Corr
0.61	IHC	Inspiration Healthcare	Pair Corr
0.58	TRLS	Trellus Health plc	Pair Corr
0.56	688151	Hubei Huaqiang High	Pair Corr
0.49	WOK	WORK Medical Technology	Pair Corr
0.48	AVR	Anteris Technologies Upward Rally	Pair Corr
0.4	PIIIW	P3 Health Partners	Pair Corr
0.38	SYK	Stryker	Pair Corr
0.89	UTMD	Utah Medical Products	Pair Corr
0.87	688050	Eyebright Medical	Pair Corr
0.79	HCMC	Healthier Choices	Pair Corr
0.75	TMCI	Treace Medical Concepts	Pair Corr
0.73	RMTI	Rockwell Medical	Pair Corr
0.68	QIPT	Quipt Home Medical	Pair Corr

Related Correlations Analysis

	RGEN	RMD	MMSI	ICUI	BNGO	LUCY	STXS	NXGL	EMBC	BAX
RGEN		-0.54	0.08	0.35	-0.48	-0.66	-0.35	-0.5	-0.62	-0.56	RGEN
RMD	-0.54		-0.4	-0.54	0.41	0.85	0.77	0.63	0.44	0.9	RMD
MMSI	0.08	-0.4		0.6	0.3	-0.43	-0.41	-0.33	0.12	-0.41	MMSI
ICUI	0.35	-0.54	0.6		-0.08	-0.72	-0.81	-0.81	-0.33	-0.62	ICUI
BNGO	-0.48	0.41	0.3	-0.08		0.31	0.24	0.19	0.37	0.51	BNGO
LUCY	-0.66	0.85	-0.43	-0.72	0.31		0.78	0.77	0.63	0.84	LUCY
STXS	-0.35	0.77	-0.41	-0.81	0.24	0.78		0.86	0.35	0.76	STXS
NXGL	-0.5	0.63	-0.33	-0.81	0.19	0.77	0.86		0.55	0.7	NXGL
EMBC	-0.62	0.44	0.12	-0.33	0.37	0.63	0.35	0.55		0.54	EMBC
BAX	-0.56	0.9	-0.41	-0.62	0.51	0.84	0.76	0.7	0.54		BAX
	RGEN	RMD	MMSI	ICUI	BNGO	LUCY	STXS	NXGL	EMBC	BAX

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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

BAX	+ 0.9	RMD
NXGL	+ 0.86	STXS
LUCY	+ 0.85	RMD
BAX	+ 0.84	LUCY
STXS	+ 0.78	LUCY
STXS	+ 0.77	RMD

High negative correlations

NXGL	- 0.81	ICUI
STXS	- 0.81	ICUI
LUCY	- 0.72	ICUI
LUCY	- 0.66	RGEN
BAX	- 0.62	ICUI
EMBC	- 0.62	RGEN

Risk-Adjusted Indicators

There is a big difference between Intuitive Stock performing well and Intuitive Surgical 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 Intuitive Surgical'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
RGEN	2.20	0.42	0.20	0.36	2.01	(2.71)	5.28	(3.14)	15.00
RMD	1.01	(0.21)	0.00	(0.20)	0.00	0.00	2.02	(2.54)	5.71
MMSI	1.26	(0.17)	0.00	(0.11)	0.00	0.00	2.43	(3.13)	8.06
ICUI	1.75	0.13	0.07	0.20	1.85	(1.95)	3.59	(2.84)	10.93
BNGO	4.14	(1.27)	0.00	(0.70)	0.00	0.00	7.58	(8.45)	48.07
LUCY	2.72	(0.31)	0.00	(0.06)	0.00	0.00	5.81	(6.57)	27.36
STXS	2.75	(0.37)	0.00	(0.12)	0.00	0.00	4.66	(5.60)	27.00
NXGL	3.30	(0.49)	0.00	(1.90)	0.00	0.00	7.75	(6.90)	21.70
EMBC	1.96	(0.45)	0.00	(0.35)	0.00	0.00	3.96	(5.47)	13.58
BAX	1.70	(0.50)	0.00	(0.35)	0.00	0.00	2.71	(3.60)	17.76

Intuitive Surgical Corporate Management

David Rosa	Chief Commercial Officer and Executive VP	Profile
CFA CFA	VP Relations	Profile
Mark Brosius	Senior Officer	Profile
Milind Wagle	Chief Officer	Profile
Gary Loeb	G Officer	Profile
Robert DeSantis	Executive Officer	Profile
Philip Kim	Head Relations	Profile

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