ReShape Lifesciences Correlations

RSLS Stock

USD 3.02 0.11 3.78%

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

Average diversification

The correlation between ReShape Lifesciences and DJI is 0.1 (i.e., Average 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

0.65	CI	Cigna Corp	Pair Corr
0.91	EKSO	Ekso Bionics Holdings Earnings Call This Week	Pair Corr
0.72	ELMD	Electromed	Pair Corr
0.79	EMBC	Embecta Corp	Pair Corr
0.66	ICCM	Icecure Medical	Pair Corr
0.8	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.67	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.65	MLSS	Milestone Scientific	Pair Corr
0.79	MNDR	Mobile health Network	Pair Corr

Moving against ReShape Stock

0.92	DH	Definitive Healthcare	Pair Corr
0.88	OM	Outset Medical	Pair Corr
0.87	VEEV	Veeva Systems Class	Pair Corr
0.77	LH	Laboratory Earnings Call This Week	Pair Corr
0.72	VNRX	Volitionrx	Pair Corr
0.64	DXCM	DexCom Inc Earnings Call Tomorrow	Pair Corr
0.51	EW	Edwards Lifesciences Corp Earnings Call Today	Pair Corr
0.45	GH	Guardant Health	Pair Corr
0.41	DOCS	Doximity	Pair Corr
0.84	MDAI	Spectral AI	Pair Corr
0.82	ENSG	Ensign Group Earnings Call Tomorrow	Pair Corr
0.81	FIGS	Figs Inc	Pair Corr
0.44	VVOS	Vivos Therapeutics Downward Rally	Pair Corr
0.78	MODV	ModivCare	Pair Corr
0.7	MHUA	Meihua International	Pair Corr
0.68	NAKA	Kindly MD, Symbol Change	Pair Corr
0.52	NEUE	NeueHealth	Pair Corr
0.31	MGRM	Monogram Orthopaedics	Pair Corr

Related Correlations Analysis

	NUWE	THMO	SINT	NAOV	DBGI	PALI	ENSC	GROM	MTVA
NUWE		0.0	-0.54	0.64	0.0	0.26	0.32	0.0	0.48	NUWE
THMO	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	THMO
SINT	-0.54	0.0		-0.75	0.0	-0.16	-0.04	0.0	-0.45	SINT
NAOV	0.64	0.0	-0.75		0.0	0.08	0.23	0.0	0.48	NAOV
DBGI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	DBGI
PALI	0.26	0.0	-0.16	0.08	0.0		0.18	0.0	0.14	PALI
ENSC	0.32	0.0	-0.04	0.23	0.0	0.18		0.0	0.44	ENSC
GROM	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	GROM
MTVA	0.48	0.0	-0.45	0.48	0.0	0.14	0.44	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	+ 0.64	NUWE
MTVA	+ 0.48	NUWE
MTVA	+ 0.48	NAOV
MTVA	+ 0.44	ENSC
ENSC	+ 0.32	NUWE
PALI	+ 0.26	NUWE

High negative correlations

NAOV	- 0.75	SINT
SINT	- 0.54	NUWE
MTVA	- 0.45	SINT
PALI	- 0.16	SINT
ENSC	- 0.04	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	8.65	(0.26)	0.00	(0.02)	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	4.07	0.68	0.16	0.72	3.63	(5.13)	16.55	(7.06)	38.81
NAOV	8.33	(2.02)	0.00	(1.21)	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	3.65	0.62	0.12	2.53	3.47	(5.12)	7.25	(5.63)	18.72
ENSC	5.76	0.00	0.06	0.14	6.37	(6.68)	9.35	(12.15)	109.72
GROM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MTVA	3.35	(0.15)	0.00	32.07	0.00	0.00	7.81	(7.35)	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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