Nexalin Technology Correlations

NXL Stock

USD 1.09 0.06 5.22%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nexalin Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nexalin Technology moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nexalin Technology Correlation With Market

Modest diversification

The correlation between Nexalin Technology and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexalin Technology and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nexalin Stock

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

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

Moving together with Nexalin Stock

0.61	CI	Cigna Corp	Pair Corr
0.81	EKSO	Ekso Bionics Holdings	Pair Corr
0.67	ELMD	Electromed	Pair Corr
0.76	ICCM	Icecure Medical	Pair Corr
0.76	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.65	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.79	MNDR	Mobile health Network	Pair Corr

Moving against Nexalin Stock

0.87	DH	Definitive Healthcare	Pair Corr
0.86	OM	Outset Medical	Pair Corr
0.84	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.8	LH	Laboratory Earnings Call This Week	Pair Corr
0.77	VEEV	Veeva Systems Class	Pair Corr
0.66	VNRX	Volitionrx	Pair Corr
0.59	EW	Edwards Lifesciences Corp Earnings Call This Week	Pair Corr
0.49	MD	Mednax Inc	Pair Corr
0.44	DOCS	Doximity	Pair Corr
0.83	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.83	FIGS	Figs Inc	Pair Corr
0.72	MDAI	Spectral AI	Pair Corr
0.46	VVOS	Vivos Therapeutics	Pair Corr
0.46	ABT	Abbott Laboratories	Pair Corr
0.68	NAKA	Kindly MD, Symbol Change	Pair Corr
0.64	MHUA	Meihua International	Pair Corr
0.61	MODV	ModivCare	Pair Corr
0.59	NEUE	NeueHealth	Pair Corr

Related Correlations Analysis

	AIMDW	ELMD	ARMM	SRDX	BJDX	INVO	MOTS	IRIX	AZYO	AIMD
AIMDW		-0.21	0.0	0.34	0.16	0.0	0.0	-0.3	0.0	0.08	AIMDW
ELMD	-0.21		0.0	-0.55	0.42	0.0	0.0	0.35	0.0	-0.3	ELMD
ARMM	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ARMM
SRDX	0.34	-0.55	0.0		-0.33	0.0	0.0	-0.22	0.0	0.28	SRDX
BJDX	0.16	0.42	0.0	-0.33		0.0	0.0	0.12	0.0	-0.09	BJDX
INVO	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	INVO
MOTS	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	MOTS
IRIX	-0.3	0.35	0.0	-0.22	0.12	0.0	0.0		0.0	-0.24	IRIX
AZYO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	AZYO
AIMD	0.08	-0.3	0.0	0.28	-0.09	0.0	0.0	-0.24	0.0		AIMD
	AIMDW	ELMD	ARMM	SRDX	BJDX	INVO	MOTS	IRIX	AZYO	AIMD

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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

BJDX	+ 0.42	ELMD
IRIX	+ 0.35	ELMD
SRDX	+ 0.34	AIMDW
AIMD	+ 0.28	SRDX
BJDX	+ 0.16	AIMDW
IRIX	+ 0.12	BJDX

High negative correlations

SRDX	- 0.55	ELMD
BJDX	- 0.33	SRDX
AIMD	- 0.3	ELMD
IRIX	- 0.3	AIMDW
AIMD	- 0.24	IRIX
IRIX	- 0.22	SRDX

Risk-Adjusted Indicators

There is a big difference between Nexalin Stock performing well and Nexalin Technology 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 Nexalin Technology'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
AIMDW	16.94	2.75	0.15	0.81	15.33	(28.56)	50.00	(35.29)	179.84
ELMD	2.01	(0.46)	0.00	(0.27)	0.00	0.00	3.34	(5.49)	17.42
ARMM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SRDX	1.33	0.08	(0.01)	0.56	2.00	(1.40)	3.15	(2.03)	15.01
BJDX	4.27	(0.66)	0.00	(0.15)	0.00	0.00	8.38	(10.41)	59.58
INVO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MOTS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IRIX	3.08	0.56	0.10	7.22	3.42	(3.75)	7.00	(5.10)	21.16
AZYO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AIMD	3.73	(0.07)	(0.01)	0.08	4.08	(4.67)	13.20	(6.99)	33.65

Nexalin Technology Corporate Management

Marilyn Elson	Chief Officer	Profile
Joel Bradus	Director Marketing	Profile
Carolyn Shelton	Regulatory Quality	Profile
David MD	Chief Director	Profile
Michael Nketiah	Regulatory Quality	Profile

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