Tactile Systems Correlations

TCMD Stock

USD 29.34 0.24 0.81%

The current 90-days correlation between Tactile Systems Tech and Rxsight is 0.2 (i.e., Modest diversification). The correlation of Tactile Systems 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.

Tactile Systems Correlation With Market

Significant diversification

The correlation between Tactile Systems Technology and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tactile Systems Technology and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tactile Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tactile Systems 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 industry.

Moving together with Tactile Stock

0.76	PRN	Profound Medical Corp	Pair Corr
0.84	ALGN	Align Technology	Pair Corr
0.88	SNDA	Sonida Senior Living	Pair Corr
0.77	CBLL	CeriBell,	Pair Corr
0.81	CUB	Lionheart Holdings	Pair Corr
0.91	CTSH	Cognizant Technology	Pair Corr
0.85	MKSI	MKS Instruments	Pair Corr
0.72	LION	Lionsgate Studios Holding	Pair Corr
0.81	KODK	Eastman Kodak	Pair Corr
0.87	COPL	Copley Acquisition Corp	Pair Corr
0.83	AAPL	Apple Inc	Pair Corr
0.9	LFST	Lifestance Health	Pair Corr
0.78	DNUT	Krispy Kreme	Pair Corr
0.92	DRXGF	Drax Group plc	Pair Corr
0.95	MTC	MMTEC Inc Tech Boost	Pair Corr

Moving against Tactile Stock

0.93	TMCI	Treace Medical Concepts	Pair Corr
0.9	OTC	Ocumetics Technology Corp	Pair Corr
0.84	EYE	Nova EYE Medical	Pair Corr
0.84	MDX	MedX Health Corp	Pair Corr
0.8	NGMD	NuGen Medical Devices	Pair Corr
0.76	SMLR	Semler Scientific	Pair Corr
0.69	CSX	Cleanspace Holdings	Pair Corr
0.68	TLT	Theralase Technologies	Pair Corr
0.63	ABT	Abbott Laboratories	Pair Corr
0.53	PINK	Perimeter Medical Imaging	Pair Corr
0.47	IMR	Imricor Medical Systems	Pair Corr
0.45	EMV	Emvision Medical Devices	Pair Corr
0.42	TOI	Oncology Institute	Pair Corr
0.95	KG	Kestrel Group, Symbol Change	Pair Corr

Related Correlations Analysis

	RXST	SMLR	DCTH	BWAY	BFLY	NPCE	SRDX	KIDS	CBLL	VMD
RXST		-0.67	-0.3	0.56	0.71	0.88	0.73	0.25	0.91	0.42	RXST
SMLR	-0.67		0.41	-0.44	-0.68	-0.76	-0.37	0.2	-0.77	-0.22	SMLR
DCTH	-0.3	0.41		-0.08	-0.28	-0.49	0.21	0.58	-0.16	0.49	DCTH
BWAY	0.56	-0.44	-0.08		0.5	0.41	0.53	0.0	0.57	0.33	BWAY
BFLY	0.71	-0.68	-0.28	0.5		0.79	0.47	0.04	0.81	0.51	BFLY
NPCE	0.88	-0.76	-0.49	0.41	0.79		0.5	0.07	0.87	0.29	NPCE
SRDX	0.73	-0.37	0.21	0.53	0.47	0.5		0.42	0.76	0.61	SRDX
KIDS	0.25	0.2	0.58	0.0	0.04	0.07	0.42		0.22	0.49	KIDS
CBLL	0.91	-0.77	-0.16	0.57	0.81	0.87	0.76	0.22		0.62	CBLL
VMD	0.42	-0.22	0.49	0.33	0.51	0.29	0.61	0.49	0.62		VMD
	RXST	SMLR	DCTH	BWAY	BFLY	NPCE	SRDX	KIDS	CBLL	VMD

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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

CBLL	+ 0.91	RXST
NPCE	+ 0.88	RXST
CBLL	+ 0.87	NPCE
CBLL	+ 0.81	BFLY
NPCE	+ 0.79	BFLY
CBLL	+ 0.76	SRDX

High negative correlations

CBLL	- 0.77	SMLR
NPCE	- 0.76	SMLR
BFLY	- 0.68	SMLR
SMLR	- 0.67	RXST
NPCE	- 0.49	DCTH
BWAY	- 0.44	SMLR

Risk-Adjusted Indicators

There is a big difference between Tactile Stock performing well and Tactile Systems 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 Tactile Systems' 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	2.80	0.43	0.15	0.27	3.02	(3.20)	7.90	(4.99)	17.00
SMLR	5.10	(0.75)	0.00	(0.23)	0.00	0.00	9.78	(9.07)	44.64
DCTH	2.43	(0.20)	0.00	(0.07)	0.00	0.00	4.91	(4.59)	18.23
BWAY	2.10	(0.10)	0.00	(0.03)	0.00	0.00	3.95	(3.86)	13.46
BFLY	6.13	1.07	0.23	0.32	4.89	(7.97)	18.88	(9.68)	42.22
NPCE	3.04	0.67	0.27	0.32	2.19	(3.48)	6.30	(4.61)	43.20
SRDX	1.90	0.59	0.23	(0.30)	1.26	(2.68)	2.09	(2.90)	49.69
KIDS	1.99	(0.27)	0.00	(0.09)	0.00	0.00	4.68	(4.59)	13.88
CBLL	3.01	0.89	0.27	0.54	2.82	(3.51)	7.04	(6.13)	16.78
VMD	1.48	0.10	0.05	0.18	1.54	(1.79)	3.15	(2.64)	8.81

Tactile Systems Corporate Management

Peter Schaubach	Chief Officer	Profile
John Kaercher	Chief Officer	Profile
Sherri Ferstler	Senior Sales	Profile
Sunday Hoy	VP Officer	Profile
Eric Pauls	VP Sales	Profile
Aaron Snodgrass	Senior Sales	Profile
Jerry Sauber	Operations, Manufacturing	Profile

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