Accuray Incorporated Correlations

ARAY Stock

USD 1.89 0.06 3.28%

The current 90-days correlation between Accuray Incorporated and Bioventus is -0.09 (i.e., Good diversification). The correlation of Accuray Incorporated 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.

Accuray Incorporated Correlation With Market

Weak diversification

The correlation between Accuray Incorporated and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Accuray Incorporated and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Accuray Incorporated. 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 more information on how to buy Accuray Stock please use our How to Invest in Accuray Incorporated guide.

Moving together with Accuray Stock

0.71	FORA	Forian Inc	Pair Corr
0.8	IVP	Inspire Veterinary	Pair Corr
0.76	BACK	IMAC Holdings	Pair Corr
0.68	CYRX	Cryoport	Pair Corr
0.71	VALN	Valneva SE ADR Downward Rally	Pair Corr
0.64	VCNX	Vaccinex	Pair Corr

Moving against Accuray Stock

0.4	DOCS	Doximity	Pair Corr
0.39	VMD	Viemed Healthcare	Pair Corr
0.33	SSY	SunLink Health Systems	Pair Corr
0.53	OMIC	Singular Genomics Systems	Pair Corr
0.37	DOMH	Dominari Holdings	Pair Corr
0.31	MMSI	Merit Medical Systems	Pair Corr
0.6	VRDN	Viridian Therapeutics	Pair Corr
0.56	EWTX	Edgewise Therapeutics	Pair Corr
0.48	BMY	Bristol Myers Squibb	Pair Corr
0.43	TIL	Instil Bio	Pair Corr
0.41	KZR	Kezar Life Sciences	Pair Corr

Related Correlations Analysis

	SRDX	AXGN	BVS	CUTR	NUVA	FNA	OFIX	SIBN	AVNS	AZYO
SRDX		-0.33	-0.78	0.28	0.42	0.58	0.16	0.59	0.44	-0.49	SRDX
AXGN	-0.33		0.44	0.25	-0.64	-0.53	-0.35	-0.03	0.12	0.08	AXGN
BVS	-0.78	0.44		-0.23	-0.37	-0.6	-0.19	-0.64	-0.37	0.53	BVS
CUTR	0.28	0.25	-0.23		-0.4	-0.49	-0.7	0.39	0.86	-0.49	CUTR
NUVA	0.42	-0.64	-0.37	-0.4		0.65	0.69	0.3	-0.27	0.03	NUVA
FNA	0.58	-0.53	-0.6	-0.49	0.65		0.7	0.24	-0.31	-0.19	FNA
OFIX	0.16	-0.35	-0.19	-0.7	0.69	0.7		0.24	-0.57	0.08	OFIX
SIBN	0.59	-0.03	-0.64	0.39	0.3	0.24	0.24		0.5	-0.49	SIBN
AVNS	0.44	0.12	-0.37	0.86	-0.27	-0.31	-0.57	0.5		-0.36	AVNS
AZYO	-0.49	0.08	0.53	-0.49	0.03	-0.19	0.08	-0.49	-0.36		AZYO
	SRDX	AXGN	BVS	CUTR	NUVA	FNA	OFIX	SIBN	AVNS	AZYO

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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

AVNS	+ 0.86	CUTR
OFIX	+ 0.7	FNA
OFIX	+ 0.69	NUVA
FNA	+ 0.65	NUVA
SIBN	+ 0.59	SRDX
FNA	+ 0.58	SRDX

High negative correlations

BVS	- 0.78	SRDX
OFIX	- 0.7	CUTR
SIBN	- 0.64	BVS
NUVA	- 0.64	AXGN
FNA	- 0.6	BVS
AVNS	- 0.57	OFIX

Risk-Adjusted Indicators

There is a big difference between Accuray Stock performing well and Accuray Incorporated 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 Accuray Incorporated'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
SRDX	0.48	(0.07)	0.00	(0.13)	0.00	0.00	1.26	(1.01)	3.22
AXGN	2.25	(0.05)	(0.01)	0.06	3.80	(2.21)	4.73	(5.50)	21.60
BVS	2.50	0.39	0.08	1.80	3.66	(2.63)	5.34	(4.82)	26.44
CUTR	4.53	(1.62)	0.00	(0.52)	0.00	0.00	7.25	(10.00)	44.12
NUVA	1.23	(0.08)	0.00	(0.05)	0.00	0.00	3.31	(2.75)	7.19
FNA	3.85	0.27	0.11	0.19	4.04	(4.41)	7.83	(6.30)	43.16
OFIX	1.86	0.06	0.04	0.14	2.04	(2.06)	3.90	(3.85)	12.11
SIBN	2.98	(0.44)	0.00	(0.11)	0.00	0.00	6.75	(4.54)	27.00
AVNS	1.56	(0.50)	0.00	(0.23)	0.00	0.00	2.67	(2.71)	20.91
AZYO	3.96	0.64	0.13	3.54	3.84	(5.00)	8.44	(7.23)	30.62

Accuray Incorporated Corporate Management

Jesse Chew	Chief VP	Profile
Melanie Gebauer	Vice Resources	Profile
GS Jha	Global Officer	Profile
Sandeep Chalke	Interim Officer	Profile
Jim Dennison	Quality Regulatory	Profile

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