STAAR Surgical Correlations

STAA Stock  USD 17.36  0.09  0.52%   
The current 90-days correlation between STAAR Surgical and Repligen is 0.42 (i.e., Very weak diversification). The correlation of STAAR Surgical 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.

STAAR Surgical Correlation With Market

Very weak diversification

The correlation between STAAR Surgical and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STAAR Surgical and DJI in the same portfolio, assuming nothing else is changed.
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in STAAR Surgical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.
For information on how to trade STAAR Stock refer to our How to Trade STAAR Stock guide.

Moving together with STAAR Stock

  0.65EDAP EDAP TMS SAPairCorr
  0.76EMBC Embecta CorpPairCorr

Moving against STAAR Stock

  0.62GH Guardant HealthPairCorr
  0.62VNRX VolitionrxPairCorr
  0.52VEEV Veeva Systems ClassPairCorr
  0.38DH Definitive HealthcarePairCorr
  0.55MDAI Spectral AIPairCorr
  0.4FIGS Figs IncPairCorr
  0.62MODV ModivCarePairCorr
  0.34MHUA Meihua InternationalPairCorr

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   
HAERMD
HOLXWST
HAEHOLX
HAEWST
MMSIICUI
COOICUI
  
High negative correlations   
HOLXCOO
BDXRMD
HAEBDX
HAECOO
HOLXICUI
COORMD

Risk-Adjusted Indicators

There is a big difference between STAAR Stock performing well and STAAR Surgical 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 STAAR Surgical'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RMD  0.82  0.19  0.21  0.42  0.42 
 1.46 
 12.16 
WST  1.44 (0.14)(0.07) 0.00  1.78 
 3.00 
 8.74 
ICUI  1.68 (0.32) 0.00 (0.19) 0.00 
 3.69 
 11.56 
MMSI  1.17 (0.27) 0.00 (0.21) 0.00 
 2.53 
 14.94 
MBOT  3.49  0.04  0.02  0.16  4.38 
 7.41 
 28.21 
BDX  1.21 (0.30) 0.00 (0.20) 0.00 
 1.82 
 19.80 
COO  1.46 (0.22) 0.00 (0.12) 0.00 
 2.32 
 17.24 
HOLX  1.41  0.00  0.01  0.13  1.60 
 2.48 
 16.64 
RGEN  2.24 (0.46) 0.00 (0.07) 0.00 
 3.72 
 15.31 
HAE  1.34  0.16  0.11  0.27  1.32 
 2.92 
 9.24 

STAAR Surgical Corporate Management

Nancy SabinChief OfficerProfile
Brian MooreIR Contact OfficerProfile
Warren FoustChief OfficerProfile
Deborah AndrewsInterim OfficerProfile