AtriCure Correlations

ATRC Stock

USD 41.46 0.95 2.24%

The current 90-days correlation between AtriCure and Quidel is 0.05 (i.e., Significant 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

Modest diversification

The correlation between AtriCure and DJI is 0.26 (i.e., Modest 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 persons.

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

Moving together with AtriCure Stock

0.73	QIPT	Quipt Home Medical	Pair Corr
0.64	AVR	Anteris Technologies Downward Rally	Pair Corr
0.71	PRN	Profound Medical Corp	Pair Corr

Moving against AtriCure Stock

0.86	300869	Contec Medical Systems	Pair Corr
0.81	688139	Qingdao Haier Biomedical	Pair Corr
0.77	IHC	Inspiration Healthcare	Pair Corr
0.7	OTC	Ocumetics Technology Corp	Pair Corr
0.64	WOK	WORK Medical Technology	Pair Corr
0.64	688358	Chison Medical Techn	Pair Corr
0.51	OM	Outset Medical	Pair Corr
0.44	688617	APT Medical	Pair Corr
0.38	300633	SonoScape Medical Corp	Pair Corr
0.35	002382	Blue Sail Medical	Pair Corr
0.32	ABT	Abbott Laboratories Sell-off Trend	Pair Corr
0.32	ICCM	Icecure Medical	Pair Corr
0.7	688085	Shanghai Sanyou Medical	Pair Corr
0.7	300314	Ningbo David Medical	Pair Corr
0.63	300562	Guangdong Transtek	Pair Corr
0.58	605369	Zhejiang Gongdong Medical	Pair Corr
0.57	LMAT	LeMaitre Vascular	Pair Corr
0.56	603301	Zhende Medical	Pair Corr
0.56	NGMD	NuGen Medical Devices	Pair Corr
0.51	CREO	Creo Medical Group	Pair Corr
0.47	TLT	Theralase Technologies	Pair Corr
0.47	688013	Touchstone International	Pair Corr

Related Correlations Analysis

	QDEL	BLFS	KMTS	AZTA	TXG	NVCR	XERS	SEM	LMAT	IMCR
QDEL		0.14	0.08	0.51	-0.01	0.74	0.17	0.62	-0.31	-0.22	QDEL
BLFS	0.14		-0.02	-0.33	-0.6	0.34	0.74	-0.32	0.59	-0.51	BLFS
KMTS	0.08	-0.02		0.09	0.22	-0.06	0.09	0.22	0.09	0.05	KMTS
AZTA	0.51	-0.33	0.09		0.74	0.31	-0.59	0.89	-0.64	0.47	AZTA
TXG	-0.01	-0.6	0.22	0.74		-0.22	-0.73	0.6	-0.54	0.6	TXG
NVCR	0.74	0.34	-0.06	0.31	-0.22		0.23	0.29	-0.03	-0.34	NVCR
XERS	0.17	0.74	0.09	-0.59	-0.73	0.23		-0.47	0.56	-0.71	XERS
SEM	0.62	-0.32	0.22	0.89	0.6	0.29	-0.47		-0.64	0.39	SEM
LMAT	-0.31	0.59	0.09	-0.64	-0.54	-0.03	0.56	-0.64		-0.43	LMAT
IMCR	-0.22	-0.51	0.05	0.47	0.6	-0.34	-0.71	0.39	-0.43		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

SEM	+ 0.89	AZTA
NVCR	+ 0.74	QDEL
XERS	+ 0.74	BLFS
TXG	+ 0.74	AZTA
SEM	+ 0.62	QDEL
SEM	+ 0.6	TXG

High negative correlations

XERS	- 0.73	TXG
IMCR	- 0.71	XERS
LMAT	- 0.64	SEM
LMAT	- 0.64	AZTA
TXG	- 0.6	BLFS
XERS	- 0.59	AZTA

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	2.99	0.27	0.04	1.25	4.79	(3.20)	8.12	(4.38)	26.68
BLFS	1.78	(0.20)	0.00	(0.04)	0.00	0.00	4.07	(3.57)	13.74
KMTS	2.62	(0.09)	(0.01)	0.03	3.83	(2.54)	5.06	(7.02)	20.24
AZTA	2.03	0.18	0.11	0.17	2.15	(2.37)	4.88	(4.80)	22.17
TXG	3.59	0.82	0.28	0.57	2.50	(4.43)	11.07	(5.27)	23.84
NVCR	2.52	(0.10)	(0.01)	0.03	3.05	(2.85)	5.24	(4.90)	16.49
XERS	2.65	0.13	0.00	(0.19)	4.59	(2.84)	7.37	(4.35)	36.05
SEM	1.42	0.14	0.11	0.19	1.20	(1.69)	3.49	(2.62)	13.50
LMAT	1.06	(0.09)	0.00	(0.04)	0.00	0.00	2.17	(2.20)	8.28
IMCR	2.12	0.00	0.00	0.10	0.00	0.00	4.75	(3.78)	13.25

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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