Pro Dex Correlations

PDEX Stock

USD 46.19 1.08 2.28%

The correlation of Pro Dex 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.

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Moving together with Pro Stock

0.61	ECOR	Electrocore LLC	Pair Corr
0.84	ICCM	Icecure Medical	Pair Corr
0.68	MSPRW	MSP Recovery Symbol Change	Pair Corr

Moving against Pro Stock

0.89	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.78	OM	Outset Medical	Pair Corr
0.76	LH	Laboratory Earnings Call This Week	Pair Corr
0.68	MD	Mednax Inc	Pair Corr
0.64	DH	Definitive Healthcare	Pair Corr
0.64	VEEV	Veeva Systems Class	Pair Corr
0.52	EW	Edwards Lifesciences Corp Earnings Call This Week	Pair Corr
0.35	VNRX	Volitionrx	Pair Corr
0.84	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.58	EHAB	Enhabit	Pair Corr
0.54	FIGS	Figs Inc	Pair Corr
0.52	ABT	Abbott Laboratories	Pair Corr
0.37	MDAI	Spectral AI	Pair Corr
0.31	MBOT	Microbot Medical	Pair Corr
0.72	NAKA	Kindly MD, Symbol Change	Pair Corr
0.59	MHUA	Meihua International	Pair Corr
0.54	NEUE	NeueHealth	Pair Corr
0.43	NEOG	Neogen	Pair Corr
0.38	MODV	ModivCare	Pair Corr

Related Correlations Analysis

	DYNT	ELMD	INFU	KRMD	MLSS	NSYS	PESI	POCI	SMIT	UTMD
DYNT		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	DYNT
ELMD	0.0		-0.49	-0.44	0.5	-0.49	-0.82	-0.67	0.0	-0.61	ELMD
INFU	0.0	-0.49		0.75	-0.43	0.35	0.65	0.7	0.0	0.75	INFU
KRMD	0.0	-0.44	0.75		-0.68	0.42	0.73	0.84	0.0	0.8	KRMD
MLSS	0.0	0.5	-0.43	-0.68		-0.12	-0.57	-0.67	0.0	-0.74	MLSS
NSYS	0.0	-0.49	0.35	0.42	-0.12		0.55	0.54	0.0	0.42	NSYS
PESI	0.0	-0.82	0.65	0.73	-0.57	0.55		0.82	0.0	0.77	PESI
POCI	0.0	-0.67	0.7	0.84	-0.67	0.54	0.82		0.0	0.81	POCI
SMIT	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SMIT
UTMD	0.0	-0.61	0.75	0.8	-0.74	0.42	0.77	0.81	0.0		UTMD
	DYNT	ELMD	INFU	KRMD	MLSS	NSYS	PESI	POCI	SMIT	UTMD

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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

POCI	+ 0.84	KRMD
POCI	+ 0.82	PESI
UTMD	+ 0.81	POCI
UTMD	+ 0.8	KRMD
UTMD	+ 0.77	PESI
KRMD	+ 0.75	INFU

High negative correlations

PESI	- 0.82	ELMD
UTMD	- 0.74	MLSS
MLSS	- 0.68	KRMD
POCI	- 0.67	MLSS
POCI	- 0.67	ELMD
UTMD	- 0.61	ELMD

Risk-Adjusted Indicators

There is a big difference between Pro Stock performing well and Pro Dex 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 Pro Dex'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
DYNT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ELMD	2.01	(0.46)	0.00	(0.27)	0.00	0.00	3.34	(5.49)	17.42
INFU	2.25	0.11	0.02	0.33	2.57	(2.58)	4.93	(4.13)	21.88
KRMD	3.22	0.28	0.12	0.26	3.22	(4.24)	7.69	(6.23)	29.65
MLSS	2.96	(0.47)	0.00	4.54	0.00	0.00	6.35	(5.71)	29.72
NSYS	2.71	0.14	0.02	0.51	3.50	(3.08)	5.38	(5.61)	23.21
PESI	2.01	0.83	0.34	(1.64)	1.30	(2.52)	7.11	(2.82)	14.29
POCI	2.31	0.34	0.07	3.52	2.68	(2.73)	5.80	(4.48)	14.38
SMIT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UTMD	0.94	(0.02)	(0.05)	0.10	1.13	(1.01)	2.31	(1.65)	6.19

Pro Dex Corporate Executives

Elected by the shareholders, the Pro Dex's board of directors comprises two types of representatives: Pro Dex inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Pro. The board's role is to monitor Pro Dex's management team and ensure that shareholders' interests are well served. Pro Dex's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Pro Dex's outside directors are responsible for providing unbiased perspectives on the board's policies.

Alisha Charlton

CFO Secretary

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