MaxCyte Correlations

MXCT Stock  USD 2.02  0.13  6.05%   
The current 90-days correlation between MaxCyte and Cytek Biosciences is 0.41 (i.e., Very weak diversification). The correlation of MaxCyte 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.

MaxCyte Correlation With Market

Weak diversification

The correlation between MaxCyte and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MaxCyte and DJI in the same portfolio, assuming nothing else is changed.
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MaxCyte. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.
For more information on how to buy MaxCyte Stock please use our How to Invest in MaxCyte guide.

Moving together with MaxCyte Stock

  0.77CI Cigna CorpPairCorr
  0.81EKSO Ekso Bionics Holdings Earnings Call Next WeekPairCorr
  0.73ELMD ElectromedPairCorr
  0.66EMBC Embecta CorpPairCorr
  0.81ICCM Icecure MedicalPairCorr
  0.79MSPRW MSP Recovery Symbol ChangePairCorr
  0.71MSPRZ MSP Recovery Symbol ChangePairCorr
  0.66MNDR Mobile health NetworkPairCorr

Moving against MaxCyte Stock

  0.88OM Outset MedicalPairCorr
  0.82DH Definitive HealthcarePairCorr
  0.76DXCM DexCom Inc Earnings Call This WeekPairCorr
  0.71VEEV Veeva Systems ClassPairCorr
  0.67LH Laboratory Earnings Call This WeekPairCorr
  0.54VNRX VolitionrxPairCorr
  0.48MD Mednax IncPairCorr
  0.44EW Edwards Lifesciences Corp Earnings Call This WeekPairCorr
  0.83ENSG Ensign Group Earnings Call This WeekPairCorr
  0.68FIGS Figs IncPairCorr
  0.63MDAI Spectral AIPairCorr
  0.36EHAB EnhabitPairCorr
  0.32VVOS Vivos TherapeuticsPairCorr
  0.73NAKA Kindly MD, Symbol ChangePairCorr
  0.71MHUA Meihua InternationalPairCorr
  0.55MODV ModivCarePairCorr
  0.44NEUE NeueHealthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
NUVLCRBU
NUVLGLUE
IPSCCRBU
LUNGELMD
GLUECRBU
NUVLIPSC
  
High negative correlations   
CRBUELMD
CRBULUNG
IPSCLUNG
NUVLELMD
IPSCELMD
NUVLLUNG

Risk-Adjusted Indicators

There is a big difference between MaxCyte Stock performing well and MaxCyte 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 MaxCyte'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.

MaxCyte Corporate Management

James BradySenior SupportProfile
Stark ThompsonConsultantProfile
Jill MayerSenior ResourcesProfile
Cenk SumenChief OfficerProfile
Douglas DoerflerPresident, FounderProfile
Jay GelfmanSenior OperationsProfile