Surgical Innovations Correlations

SUN Stock

0.70 0.00 0.00%

The current 90-days correlation between Surgical Innovations and Samsung Electronics Co is 0.02 (i.e., Significant diversification). The correlation of Surgical Innovations 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.

Surgical Innovations Correlation With Market

Average diversification

The correlation between Surgical Innovations Group and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Surgical Innovations Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Surgical Innovations could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Surgical Innovations when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Surgical Innovations - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Surgical Innovations Group to buy it.

Moving together with Surgical Stock

0.71	0R1W	Walmart	Pair Corr
0.89	0R1O	Amazon Inc	Pair Corr
0.9	0H3Q	Deutsche Post AG	Pair Corr
0.69	0R08	United Parcel Service Earnings Call This Week	Pair Corr
0.71	0R1G	Home Depot	Pair Corr
0.64	EZJ	EasyJet PLC	Pair Corr
0.69	SMSD	Samsung Electronics Earnings Call This Week	Pair Corr
0.83	0O2B	Gruppo MutuiOnline SpA	Pair Corr
0.89	HSX	Hiscox	Pair Corr
0.91	0I9F	Digital Realty Trust Earnings Call This Week	Pair Corr
0.9	S247	Smarttech247 Group PLC	Pair Corr
0.87	0IKZ	Freddie Mac	Pair Corr

Related Correlations Analysis

	SMSN	SMSD	BC94	TYT	RIGD	GTCO	GTCO	0RUK	0M69
SMSN		0.99	0.99	-0.54	0.65	0.71	0.71	0.87	0.79	SMSN
SMSD	0.99		0.99	-0.58	0.67	0.73	0.73	0.87	0.76	SMSD
BC94	0.99	0.99		-0.54	0.65	0.72	0.71	0.87	0.79	BC94
TYT	-0.54	-0.58	-0.54		-0.19	-0.55	-0.54	-0.54	-0.47	TYT
RIGD	0.65	0.67	0.65	-0.19		0.64	0.63	0.59	0.56	RIGD
GTCO	0.71	0.73	0.72	-0.55	0.64		0.85	0.8	0.61	GTCO
GTCO	0.71	0.73	0.71	-0.54	0.63	0.85		0.78	0.63	GTCO
0RUK	0.87	0.87	0.87	-0.54	0.59	0.8	0.78		0.81	0RUK
0M69	0.79	0.76	0.79	-0.47	0.56	0.61	0.63	0.81		0M69
	SMSN	SMSD	BC94	TYT	RIGD	GTCO	GTCO	0RUK	0M69

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

SMSD	+ 0.99	SMSN
BC94	+ 0.99	SMSN
BC94	+ 0.99	SMSD
0RUK	+ 0.87	SMSN
0RUK	+ 0.87	SMSD
0RUK	+ 0.87	BC94

High negative correlations

TYT	- 0.58	SMSD
GTCO	- 0.55	TYT
0RUK	- 0.54	TYT
GTCO	- 0.54	TYT
TYT	- 0.54	BC94
TYT	- 0.54	SMSN

Risk-Adjusted Indicators

There is a big difference between Surgical Stock performing well and Surgical Innovations 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 Surgical Innovations' 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
SMSN	1.38	0.28	0.14	0.91	1.15	(1.68)	3.18	(2.28)	8.16
SMSD	1.21	0.29	0.14	1.22	1.04	(1.49)	3.06	(2.62)	8.72
BC94	1.40	0.28	0.14	0.72	1.17	(1.63)	3.61	(2.43)	9.53
TYT	0.86	(0.07)	0.00	(0.03)	0.00	0.00	2.92	(2.54)	13.11
RIGD	1.08	0.22	0.05	(1.86)	1.13	(1.29)	3.00	(1.65)	8.53
GTCO	2.74	0.43	0.03	(0.72)	3.23	(7.34)	9.63	(7.14)	32.15
GTCO	2.74	0.30	0.03	0.67	3.22	(7.34)	9.63	(7.14)	32.15
0RUK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.06
0M69	0.26	0.12	0.00	(5.29)	0.00	0.00	0.00	0.00	8.59

Be your own money manager

Our tools can tell you how much better you can do entering a position in Surgical Innovations without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Competition Analyzer Now

Competition Analyzer

Analyze and compare many basic indicators for a group of related or unrelated entities

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC