Sight Sciences Correlations

SGHT Stock

USD 3.50 0.04 1.13%

The current 90-days correlation between Sight Sciences and Rxsight is 0.05 (i.e., Significant diversification). The correlation of Sight Sciences 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.

Sight Sciences Correlation With Market

Weak diversification

The correlation between Sight Sciences and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sight Sciences and DJI in the same portfolio, assuming nothing else is changed.

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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sight Sciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

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

Moving together with Sight Stock

0.75	DH	Definitive Healthcare	Pair Corr
0.82	LH	Laboratory Earnings Call This Week	Pair Corr
0.78	OM	Outset Medical	Pair Corr
0.85	VEEV	Veeva Systems Class	Pair Corr
0.66	VNRX	Volitionrx	Pair Corr
0.84	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.61	FIGS	Figs Inc	Pair Corr
0.67	MHUA	Meihua International	Pair Corr

Moving against Sight Stock

0.38	CI	Cigna Corp	Pair Corr
0.38	ECOR	Electrocore LLC	Pair Corr
0.37	VERO	Venus Concept	Pair Corr
0.74	EMBC	Embecta Corp	Pair Corr
0.72	EKSO	Ekso Bionics Holdings	Pair Corr
0.7	ELAB	Elevai Labs, Common	Pair Corr
0.66	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.62	ICCM	Icecure Medical	Pair Corr
0.46	ELMD	Electromed	Pair Corr
0.4	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.79	NAOV	NanoVibronix	Pair Corr
0.69	NXLIW	Nexalin Technology	Pair Corr
0.63	MXCT	MaxCyte	Pair Corr
0.58	MODD	Modular Medical	Pair Corr
0.54	MNDR	Mobile health Network	Pair Corr
0.51	NXGLW	NexGel Warrant	Pair Corr

Related Correlations Analysis

	RXST	AXGN	TMCI	LUNG	OFIX	RPID	CTKB	EVCM
RXST		0.16	0.23	0.34	0.33	-0.21	-0.17	-0.6	RXST
AXGN	0.16		0.74	0.82	0.89	-0.92	0.59	-0.13	AXGN
TMCI	0.23	0.74		0.58	0.8	-0.74	0.32	0.1	TMCI
LUNG	0.34	0.82	0.58		0.9	-0.83	0.45	-0.19	LUNG
OFIX	0.33	0.89	0.8	0.9		-0.88	0.47	-0.11	OFIX
RPID	-0.21	-0.92	-0.74	-0.83	-0.88		-0.48	0.21	RPID
CTKB	-0.17	0.59	0.32	0.45	0.47	-0.48		0.01	CTKB
EVCM	-0.6	-0.13	0.1	-0.19	-0.11	0.21	0.01		EVCM
	RXST	AXGN	TMCI	LUNG	OFIX	RPID	CTKB	EVCM

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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

OFIX	+ 0.9	LUNG
OFIX	+ 0.89	AXGN
LUNG	+ 0.82	AXGN
OFIX	+ 0.8	TMCI
TMCI	+ 0.74	AXGN
CTKB	+ 0.59	AXGN

High negative correlations

RPID	- 0.92	AXGN
RPID	- 0.88	OFIX
RPID	- 0.83	LUNG
RPID	- 0.74	TMCI
EVCM	- 0.6	RXST
CTKB	- 0.48	RPID

Risk-Adjusted Indicators

There is a big difference between Sight Stock performing well and Sight Sciences 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 Sight Sciences' 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
RXST	3.44	(0.97)	0.00	(0.66)	0.00	0.00	6.42	(5.79)	52.85
AXGN	2.47	(0.58)	0.00	(0.49)	0.00	0.00	3.93	(4.67)	27.13
TMCI	2.27	(0.43)	0.00	(0.16)	0.00	0.00	4.17	(5.56)	14.27
LUNG	4.05	(0.97)	0.00	(0.29)	0.00	0.00	7.78	(9.06)	27.26
OFIX	1.78	(0.53)	0.00	(0.23)	0.00	0.00	3.87	(3.75)	14.80
RPID	3.45	0.66	0.16	1.07	3.36	(3.98)	8.12	(5.19)	35.51
CTKB	3.27	(0.41)	0.00	(0.08)	0.00	0.00	6.20	(6.77)	28.87
EVCM	1.69	0.03	0.03	0.16	1.83	(1.88)	3.36	(2.83)	10.35

Sight Sciences Corporate Management

MBA BS	VP Operations	Profile
Stacie Rodgers	VP HR	Profile
John Liu	VP Access	Profile
Stephen JD	Secretary	Profile
Reay MD	Chief Officer	Profile
Sam Park	Chief Officer	Profile
John Ordway	VP Operations	Profile

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