Sharps Technology Correlations

STSS Stock

USD 5.77 0.04 0.69%

The current 90-days correlation between Sharps Technology and GlucoTrack is -0.02 (i.e., Good diversification). The correlation of Sharps Technology 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.

Sharps Technology Correlation With Market

Good diversification

The correlation between Sharps Technology and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sharps Technology and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Sharps Stock

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

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

Moving together with Sharps Stock

0.74	VERO	Venus Concept	Pair Corr
0.63	ELAB	Elevai Labs, Common	Pair Corr

Moving against Sharps Stock

0.72	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.71	EW	Edwards Lifesciences Corp Earnings Call This Week	Pair Corr
0.53	LH	Laboratory Earnings Call This Week	Pair Corr
0.49	MD	Mednax Inc	Pair Corr
0.46	OM	Outset Medical	Pair Corr
0.32	DH	Definitive Healthcare	Pair Corr
0.58	EDAP	EDAP TMS SA	Pair Corr
0.54	MBOT	Microbot Medical	Pair Corr
0.51	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.5	EHAB	Enhabit	Pair Corr
0.37	ABT	Abbott Laboratories	Pair Corr
0.67	NEUE	NeueHealth	Pair Corr
0.57	NAKA	Kindly MD, Symbol Change	Pair Corr
0.52	NEOG	Neogen	Pair Corr
0.37	MMSI	Merit Medical Systems	Pair Corr

Related Correlations Analysis

	NXGL	GCTK	POAI	PDEX	ACON	HTCR	SPRC	HSCS	SMFL
NXGL		0.15	-0.12	0.51	0.62	-0.14	0.19	-0.15	0.0	NXGL
GCTK	0.15		0.65	0.46	0.08	0.65	-0.09	-0.57	0.0	GCTK
POAI	-0.12	0.65		0.07	-0.44	0.49	-0.22	-0.37	0.0	POAI
PDEX	0.51	0.46	0.07		0.38	0.18	-0.24	-0.33	0.0	PDEX
ACON	0.62	0.08	-0.44	0.38		0.01	0.39	-0.22	0.0	ACON
HTCR	-0.14	0.65	0.49	0.18	0.01		-0.1	-0.53	0.0	HTCR
SPRC	0.19	-0.09	-0.22	-0.24	0.39	-0.1		0.15	0.0	SPRC
HSCS	-0.15	-0.57	-0.37	-0.33	-0.22	-0.53	0.15		0.0	HSCS
SMFL	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SMFL
	NXGL	GCTK	POAI	PDEX	ACON	HTCR	SPRC	HSCS	SMFL

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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

POAI	+ 0.65	GCTK
HTCR	+ 0.65	GCTK
ACON	+ 0.62	NXGL
PDEX	+ 0.51	NXGL
HTCR	+ 0.49	POAI
PDEX	+ 0.46	GCTK

High negative correlations

HSCS	- 0.57	GCTK
HSCS	- 0.53	HTCR
ACON	- 0.44	POAI
HSCS	- 0.37	POAI
HSCS	- 0.33	PDEX
SPRC	- 0.24	PDEX

Risk-Adjusted Indicators

There is a big difference between Sharps Stock performing well and Sharps Technology 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 Sharps Technology'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NXGL	2.73	(0.27)	0.00	(0.12)	0.00	0.00	5.75	(5.58)	21.04
GCTK	5.45	(0.66)	0.00	(0.23)	0.00	0.00	10.70	(11.95)	59.67
POAI	2.87	(0.15)	0.00	(0.16)	0.00	0.00	7.95	(5.98)	23.63
PDEX	3.44	(0.22)	0.00	(16.34)	0.00	0.00	6.33	(5.76)	40.69
ACON	2.85	(0.55)	0.00	(0.67)	0.00	0.00	4.12	(5.30)	11.69
HTCR	4.46	(0.24)	0.00	0.52	0.00	0.00	9.30	(10.81)	41.87
SPRC	4.04	0.43	0.10	0.38	5.00	(4.83)	8.94	(6.22)	60.89
HSCS	4.97	0.18	0.05	0.21	6.45	(5.75)	8.17	(8.51)	58.52
SMFL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Sharps Technology Corporate Management

Robert Hayes	CEO Director	Profile
Alan Blackman	Chief CoChairman	Profile
Steven MD	Chief Officer	Profile
Ben Scheu	Senior Sales	Profile
Frank Parrado	Corporate Controller	Profile
Barry Berler	Chief Inventor	Profile

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