ReShape Lifesciences Correlations

RSLS Stock

USD 3.35 0.33 10.93%

The current 90-days correlation between ReShape Lifesciences and Nuwellis is 0.07 (i.e., Significant diversification). The correlation of ReShape Lifesciences 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.

ReShape Lifesciences Correlation With Market

Significant diversification

The correlation between ReShape Lifesciences and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ReShape Lifesciences and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ReShape Lifesciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more information on how to buy ReShape Stock please use our How to Invest in ReShape Lifesciences guide.

Moving together with ReShape Stock

0.72	TFX	Teleflex Incorporated Earnings Call This Week	Pair Corr
0.8	GCTK	GlucoTrack Trending	Pair Corr
0.79	LNSR	LENSAR Inc	Pair Corr
0.77	TMCI	Treace Medical Concepts	Pair Corr
0.77	CERT	Certara	Pair Corr
0.71	MLAB	Mesa Laboratories	Pair Corr

Moving against ReShape Stock

0.85	CAH	Cardinal Health	Pair Corr
0.79	JYNT	Joint Corp	Pair Corr
0.72	XTNT	Xtant Medical Holdings Earnings Call This Week	Pair Corr
0.72	MASS	908 Devices	Pair Corr
0.64	HSCSW	Heart Test Laboratories	Pair Corr
0.54	SNDA	Sonida Senior Living	Pair Corr
0.53	HSCS	Heart Test Laboratories	Pair Corr
0.82	VTYX	Ventyx Biosciences	Pair Corr
0.75	PFE	Pfizer Inc	Pair Corr
0.74	GILD	Gilead Sciences	Pair Corr
0.72	VRDN	Viridian Therapeutics	Pair Corr
0.66	MRVI	Maravai Lifesciences	Pair Corr
0.65	NUVL	Nuvalent	Pair Corr
0.55	ESPR	Esperion Therapeutics	Pair Corr
0.49	FLGC	Flora Growth Corp	Pair Corr
0.46	HCM	HUTCHMED DRC	Pair Corr
0.38	PCVX	Vaxcyte	Pair Corr

Related Correlations Analysis

	NUWE	THMO	SINT	NAOV	DBGI	PALI	ENSC	GROM	MTVA
NUWE		0.0	-0.51	0.66	0.0	0.1	0.35	0.0	0.47	NUWE
THMO	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	THMO
SINT	-0.51	0.0		-0.65	0.0	-0.22	-0.11	0.0	-0.42	SINT
NAOV	0.66	0.0	-0.65		0.0	0.01	0.32	0.0	0.45	NAOV
DBGI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	DBGI
PALI	0.1	0.0	-0.22	0.01	0.0		0.09	0.0	0.12	PALI
ENSC	0.35	0.0	-0.11	0.32	0.0	0.09		0.0	0.47	ENSC
GROM	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	GROM
MTVA	0.47	0.0	-0.42	0.45	0.0	0.12	0.47	0.0		MTVA
	NUWE	THMO	SINT	NAOV	DBGI	PALI	ENSC	GROM	MTVA

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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

NAOV	+ 0.66	NUWE
MTVA	+ 0.47	NUWE
MTVA	+ 0.47	ENSC
MTVA	+ 0.45	NAOV
ENSC	+ 0.35	NUWE
ENSC	+ 0.32	NAOV

High negative correlations

NAOV	- 0.65	SINT
SINT	- 0.51	NUWE
MTVA	- 0.42	SINT
PALI	- 0.22	SINT
ENSC	- 0.11	SINT
MTVA	- 0.0	GROM

Risk-Adjusted Indicators

There is a big difference between ReShape Stock performing well and ReShape Lifesciences 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 ReShape Lifesciences' 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
NUWE	8.61	(0.52)	0.00	(0.10)	0.00	0.00	11.11	(14.84)	137.25
THMO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SINT	4.16	0.63	0.15	0.74	3.69	(5.25)	16.55	(7.06)	38.81
NAOV	8.36	(1.71)	0.00	2.84	0.00	0.00	34.48	(21.89)	98.23
DBGI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PALI	4.42	0.78	0.18	0.86	3.69	(6.65)	8.33	(7.25)	36.14
ENSC	5.44	0.19	0.11	0.26	5.62	(6.36)	9.35	(10.94)	109.72
GROM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MTVA	3.26	0.12	(0.03)	(0.25)	3.73	(4.06)	7.81	(7.14)	35.49

ReShape Lifesciences Corporate Management

MBA DVM	VP Officer	Profile
Al Diaz	Vice RD	Profile
DVM DVM	VP Officer	Profile
Thomas Stankovich	Chief Officer	Profile
Jody Dahlman	Director Communications	Profile
Katherine Tweden	CoFounder	Profile

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