AngioDynamics Correlations

ANGO Stock

USD 11.44 0.01 0.09%

The current 90-days correlation between AngioDynamics and Sonida Senior Living is -0.2 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AngioDynamics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AngioDynamics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AngioDynamics Correlation With Market

Excellent diversification

The correlation between AngioDynamics and DJI is -0.57 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AngioDynamics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AngioDynamics Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AngioDynamics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

To learn how to invest in AngioDynamics Stock, please use our How to Invest in AngioDynamics guide.

Moving together with AngioDynamics Stock

0.68	IL3	Integra LifeSciences	Pair Corr
0.64	SI	Shoulder Innovations	Pair Corr
0.64	ELAB	Elevai Labs Common	Pair Corr
0.65	ENOV	Enovis Corp Upward Rally	Pair Corr

Moving against AngioDynamics Stock

0.6	DXCM	DexCom Inc	Pair Corr
0.58	HYB	HOYA	Pair Corr
0.57	OM	Outset Medical	Pair Corr
0.82	VREX	Varex Imaging Corp	Pair Corr
0.74	EDAP	EDAP TMS SA	Pair Corr
0.74	SKAN	SKAN Group AG	Pair Corr
0.73	ECOR	Electrocore LLC	Pair Corr
0.67	EKSO	Ekso Bionics Holdings	Pair Corr
0.31	61R	GROUPE EUROMEDIS	Pair Corr
0.76	DRW8	Drgerwerk AG	Pair Corr
0.48	46K	IRadimed	Pair Corr
0.35	BB1	Blinklab	Pair Corr

Related Correlations Analysis

	SNDA	FULC	LAB	VREX	OCGN	RAPT	OMER	NMRA	SY	CGEM
SNDA		-0.26	-0.66	0.38	0.31	0.49	0.02	0.75	0.42	0.48	SNDA
FULC	-0.26		0.27	-0.38	-0.32	-0.27	-0.11	-0.32	0.0	-0.14	FULC
LAB	-0.66	0.27		-0.14	0.01	-0.44	-0.22	-0.69	-0.41	-0.43	LAB
VREX	0.38	-0.38	-0.14		0.69	0.81	0.2	0.31	0.2	0.51	VREX
OCGN	0.31	-0.32	0.01	0.69		0.41	0.32	0.25	-0.15	0.35	OCGN
RAPT	0.49	-0.27	-0.44	0.81	0.41		0.02	0.51	0.52	0.7	RAPT
OMER	0.02	-0.11	-0.22	0.2	0.32	0.02		-0.14	-0.42	-0.06	OMER
NMRA	0.75	-0.32	-0.69	0.31	0.25	0.51	-0.14		0.61	0.65	NMRA
SY	0.42	0.0	-0.41	0.2	-0.15	0.52	-0.42	0.61		0.56	SY
CGEM	0.48	-0.14	-0.43	0.51	0.35	0.7	-0.06	0.65	0.56		CGEM
	SNDA	FULC	LAB	VREX	OCGN	RAPT	OMER	NMRA	SY	CGEM

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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

RAPT	+ 0.81	VREX
NMRA	+ 0.75	SNDA
CGEM	+ 0.7	RAPT
OCGN	+ 0.69	VREX
CGEM	+ 0.65	NMRA
SY	+ 0.61	NMRA

High negative correlations

NMRA	- 0.69	LAB
LAB	- 0.66	SNDA
RAPT	- 0.44	LAB
CGEM	- 0.43	LAB
SY	- 0.42	OMER
SY	- 0.41	LAB

Risk-Adjusted Indicators

There is a big difference between AngioDynamics Stock performing well and AngioDynamics 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 AngioDynamics' 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
SNDA	1.19	0.08	0.05	0.22	1.06	(1.39)	3.04	(2.09)	8.43
FULC	4.19	0.07	0.00	0.07	0.00	0.00	7.22	(7.84)	67.17
LAB	2.96	(0.26)	0.00	(0.03)	0.00	0.00	7.81	(6.12)	27.04
VREX	1.36	0.27	0.19	0.31	1.26	(1.63)	3.69	(2.43)	9.48
OCGN	3.78	0.89	0.15	4.51	4.22	(4.25)	7.43	(6.62)	32.50
RAPT	3.69	1.78	0.33	(0.45)	2.57	(4.20)	7.87	(6.78)	64.19
OMER	4.61	0.84	0.16	1.66	4.21	(5.16)	9.89	(7.14)	87.69
NMRA	4.12	0.75	0.17	2.72	3.42	(5.28)	10.98	(7.26)	33.25
SY	2.96	0.05	0.03	0.14	3.89	(2.89)	7.04	(5.83)	21.31
CGEM	4.07	0.97	0.22	2.50	3.46	(4.77)	8.60	(6.16)	45.76

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