Profound Medical Correlations
| PRN Stock | CAD 7.66 0.11 1.42% |
The current 90-days correlation between Profound Medical Corp and Profound Medical Corp is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Profound Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Profound Medical Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Profound Medical Correlation With Market
Average diversification
The correlation between Profound Medical Corp and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Profound Medical Corp and DJI in the same portfolio, assuming nothing else is changed.
Profound |
The ability to find closely correlated positions to Profound Medical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Profound Medical when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Profound Medical - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Profound Medical Corp to buy it.
Moving together with Profound Stock
| 0.75 | AUAU | Allegiant Gold Earnings Call This Week | PairCorr |
| 0.75 | MUR | Murchison Minerals Split | PairCorr |
| 0.61 | RKV | Rakovina Therapeutics Split | PairCorr |
| 0.75 | MXG | Maxim Power Corp | PairCorr |
| 0.7 | CNQ | Canadian Natural Res | PairCorr |
Moving against Profound Stock
| 0.71 | HPQ | HPQ Silicon Resources | PairCorr |
| 0.47 | EBM | Eastwood Bio Medical | PairCorr |
| 0.46 | DFR | Diamond Fields Resources | PairCorr |
| 0.37 | SBIO | Sabio Holdings | PairCorr |
Related Correlations Analysis
| -0.84 | 0.63 | -0.77 | -0.65 | PROF | ||
| -0.84 | -0.72 | 0.84 | 0.58 | PINK | ||
| 0.63 | -0.72 | -0.62 | -0.61 | HLS | ||
| -0.77 | 0.84 | -0.62 | 0.61 | MDNA | ||
| -0.65 | 0.58 | -0.61 | 0.61 | APS | ||
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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
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Risk-Adjusted Indicators
There is a big difference between Profound Stock performing well and Profound Medical 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 Profound Medical'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PROF | 2.95 | 0.25 | 0.05 | 0.54 | 3.56 | 5.94 | 24.17 | |||
| PINK | 3.91 | (0.60) | 0.00 | (0.80) | 0.00 | 9.09 | 43.66 | |||
| HLS | 1.25 | 0.22 | 0.05 | (2.35) | 1.29 | 2.83 | 10.68 | |||
| MDNA | 3.03 | (0.18) | 0.00 | (1.32) | 0.00 | 6.00 | 23.93 | |||
| APS | 5.92 | 0.26 | 0.00 | (0.29) | 9.16 | 12.89 | 57.51 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Profound Medical without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Instant RatingsDetermine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |
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Profound Medical Corporate Management
Elected by the shareholders, the Profound Medical's board of directors comprises two types of representatives: Profound Medical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Profound. The board's role is to monitor Profound Medical's management team and ensure that shareholders' interests are well served. Profound Medical'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, Profound Medical's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Arun MBA | Chairman CEO | Profile | |
| Hartmut Warnken | Senior Alliances | Profile | |
| Jacques Cornet | Senior Sonalleve | Profile | |
| Stephen Kilmer | Investor Relations | Profile | |
| Mathieu Burtnyk | Senior TULSAPRO | Profile | |
| Thomas MBA | Chief Officer | Profile | |
| Abbey Goodman | Chief Global | Profile |