AtriCure Correlations

ATRC Stock

USD 31.81 0.77 2.36%

The current 90-days correlation between AtriCure and Quidel is 0.42 (i.e., Very weak diversification). The correlation of AtriCure 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.

AtriCure Correlation With Market

Average diversification

The correlation between AtriCure and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AtriCure and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade AtriCure Stock refer to our How to Trade AtriCure Stock guide.

Moving together with AtriCure Stock

0.76	56S1	Sartorius Stedim Biotech	Pair Corr
0.79	56S0	RENAUUNSPARD 15 EO	Pair Corr
0.61	BA3	Brooks Automation	Pair Corr
0.74	GXI	Gerresheimer AG Earnings Call This Week	Pair Corr
0.8	ELMD	Electromed	Pair Corr

Moving against AtriCure Stock

0.46	HYB	HOYA	Pair Corr
0.57	LHU	LeMaitre Vascular Earnings Call This Week	Pair Corr
0.55	ALSGD	Spineguard	Pair Corr
0.52	DRW8	Drgerwerk AG	Pair Corr
0.4	BDX	Becton Dickinson	Pair Corr

Related Correlations Analysis

	QDEL	BLFS	KMTS	AZTA	TXG	NVCR	XERS	SEM	LMAT	IMCR
QDEL		0.23	-0.29	0.62	0.39	0.64	0.56	0.4	-0.37	-0.32	QDEL
BLFS	0.23		0.03	0.49	-0.04	0.52	0.07	-0.25	-0.48	0.72	BLFS
KMTS	-0.29	0.03		-0.43	-0.45	-0.18	-0.23	0.11	0.06	0.19	KMTS
AZTA	0.62	0.49	-0.43		0.58	0.74	0.52	0.05	-0.43	0.1	AZTA
TXG	0.39	-0.04	-0.45	0.58		0.25	0.37	0.33	0.22	-0.36	TXG
NVCR	0.64	0.52	-0.18	0.74	0.25		0.64	0.03	-0.51	0.01	NVCR
XERS	0.56	0.07	-0.23	0.52	0.37	0.64		-0.04	-0.25	-0.29	XERS
SEM	0.4	-0.25	0.11	0.05	0.33	0.03	-0.04		0.13	-0.48	SEM
LMAT	-0.37	-0.48	0.06	-0.43	0.22	-0.51	-0.25	0.13		-0.34	LMAT
IMCR	-0.32	0.72	0.19	0.1	-0.36	0.01	-0.29	-0.48	-0.34		IMCR
	QDEL	BLFS	KMTS	AZTA	TXG	NVCR	XERS	SEM	LMAT	IMCR

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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

NVCR	+ 0.74	AZTA
IMCR	+ 0.72	BLFS
NVCR	+ 0.64	QDEL
XERS	+ 0.64	NVCR
AZTA	+ 0.62	QDEL
TXG	+ 0.58	AZTA

High negative correlations

LMAT	- 0.51	NVCR
IMCR	- 0.48	SEM
LMAT	- 0.48	BLFS
TXG	- 0.45	KMTS
LMAT	- 0.43	AZTA
AZTA	- 0.43	KMTS

Risk-Adjusted Indicators

There is a big difference between AtriCure Stock performing well and AtriCure 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 AtriCure'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
QDEL	2.89	0.14	0.02	0.47	4.57	(2.98)	5.87	(6.16)	31.84
BLFS	1.75	(0.04)	0.00	0.69	0.00	0.00	3.19	(3.57)	17.79
KMTS	2.49	0.19	0.02	(0.17)	3.59	(2.43)	4.70	(6.80)	20.54
AZTA	2.30	(0.01)	0.00	0.05	4.60	(2.37)	4.16	(4.80)	39.11
TXG	3.01	0.29	0.08	0.53	3.10	(3.43)	7.46	(5.65)	19.99
NVCR	2.92	0.12	0.01	(0.19)	4.22	(3.02)	4.95	(6.51)	31.62
XERS	2.19	(0.08)	0.00	1.43	0.00	0.00	4.71	(4.29)	17.42
SEM	1.24	0.18	0.09	0.35	1.34	(1.53)	2.25	(1.70)	13.50
LMAT	1.17	0.09	0.01	(0.47)	1.35	(1.26)	2.05	(2.30)	8.28
IMCR	1.88	(0.11)	0.00	0.71	0.00	0.00	4.07	(3.78)	11.66

AtriCure Corporate Management

Deborah Yount	Chief Officer	Profile
Tonya SPHR	VP HR	Profile
Vinayak Doraiswamy	Chief Officer	Profile
JD CCEP	Chief Officer	Profile
Salvatore JD	Chief Officer	Profile
CCEP CCEP	Chief Officer	Profile

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