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.
Moving together with ReShape Stock
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0.8 | GCTK | GlucoTrack Trending | PairCorr |
0.79 | LNSR | LENSAR Inc | PairCorr |
0.77 | TMCI | Treace Medical Concepts | PairCorr |
0.77 | CERT | Certara | PairCorr |
0.71 | MLAB | Mesa Laboratories | PairCorr |
Moving against ReShape Stock
0.85 | CAH | Cardinal Health | PairCorr |
0.79 | JYNT | Joint Corp | PairCorr |
0.72 | XTNT | Xtant Medical Holdings Earnings Call This Week | PairCorr |
0.72 | MASS | 908 Devices | PairCorr |
0.64 | HSCSW | Heart Test Laboratories | PairCorr |
0.54 | SNDA | Sonida Senior Living | PairCorr |
0.53 | HSCS | Heart Test Laboratories | PairCorr |
0.82 | VTYX | Ventyx Biosciences | PairCorr |
0.75 | PFE | Pfizer Inc | PairCorr |
0.74 | GILD | Gilead Sciences | PairCorr |
0.72 | VRDN | Viridian Therapeutics | PairCorr |
0.66 | MRVI | Maravai Lifesciences | PairCorr |
0.65 | NUVL | Nuvalent | PairCorr |
0.55 | ESPR | Esperion Therapeutics | PairCorr |
0.49 | FLGC | Flora Growth Corp | PairCorr |
0.46 | HCM | HUTCHMED DRC | PairCorr |
0.38 | PCVX | Vaxcyte | PairCorr |
Related Correlations Analysis
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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 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 | 11.11 | 137.25 | |||
THMO | 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 | 16.55 | 38.81 | |||
NAOV | 8.36 | (1.71) | 0.00 | 2.84 | 0.00 | 34.48 | 98.23 | |||
DBGI | 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 | 8.33 | 36.14 | |||
ENSC | 5.44 | 0.19 | 0.11 | 0.26 | 5.62 | 9.35 | 109.72 | |||
GROM | 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 | 7.81 | 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 |