Avinger Correlations

AVGR Stock

USD 0.80 0.03 3.61%

The current 90-days correlation between Avinger and GlucoTrack is -0.06 (i.e., Good diversification). The correlation of Avinger 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.

Avinger Correlation With Market

Average diversification

The correlation between Avinger and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avinger 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 Avinger. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

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

Moving together with Avinger Stock

0.71	AGL	agilon health Buyout Trend	Pair Corr
0.69	AMN	AMN Healthcare Services	Pair Corr
0.77	FORA	Forian Inc	Pair Corr
0.7	EVH	Evolent Health	Pair Corr
0.74	IVP	Inspire Veterinary	Pair Corr
0.64	BACK	IMAC Holdings	Pair Corr
0.69	CYRX	Cryoport	Pair Corr
0.73	ME	23Andme Holding	Pair Corr
0.76	VALN	Valneva SE ADR	Pair Corr
0.63	VCNX	Vaccinex	Pair Corr

Moving against Avinger Stock

0.7	VMD	Viemed Healthcare	Pair Corr
0.61	DOCS	Doximity	Pair Corr
0.55	ITGR	Integer Holdings Corp	Pair Corr
0.44	FOXO	FOXO Technologies	Pair Corr
0.35	SSY	SunLink Health Systems	Pair Corr
0.71	OMIC	Singular Genomics Systems	Pair Corr
0.54	NXGL	Nexgel Inc	Pair Corr
0.51	MMSI	Merit Medical Systems	Pair Corr
0.41	CRVL	CorVel Corp	Pair Corr
0.31	NXGLW	NexGel Warrant	Pair Corr
0.81	EWTX	Edgewise Therapeutics	Pair Corr
0.75	BMY	Bristol Myers Squibb Sell-off Trend	Pair Corr
0.67	EXEL	Exelixis	Pair Corr
0.53	KZR	Kezar Life Sciences	Pair Corr
0.48	VRDN	Viridian Therapeutics	Pair Corr
0.33	KTTAW	Pasithea Therapeutics	Pair Corr

Related Correlations Analysis

	GCTK	NXGL	STSS	LUCY	ANGO	ATRC	AKYA	ATR	ICUI	MLSS
GCTK		-0.7	0.65	-0.16	0.37	-0.84	0.13	-0.78	-0.01	0.87	GCTK
NXGL	-0.7		-0.35	-0.19	-0.17	0.66	-0.06	0.66	-0.12	-0.67	NXGL
STSS	0.65	-0.35		-0.56	0.52	-0.61	-0.41	-0.86	-0.61	0.79	STSS
LUCY	-0.16	-0.19	-0.56		-0.15	0.32	0.39	0.36	0.69	-0.23	LUCY
ANGO	0.37	-0.17	0.52	-0.15		-0.13	-0.23	-0.43	-0.29	0.43	ANGO
ATRC	-0.84	0.66	-0.61	0.32	-0.13		0.14	0.83	0.18	-0.82	ATRC
AKYA	0.13	-0.06	-0.41	0.39	-0.23	0.14		0.39	0.74	-0.16	AKYA
ATR	-0.78	0.66	-0.86	0.36	-0.43	0.83	0.39		0.43	-0.87	ATR
ICUI	-0.01	-0.12	-0.61	0.69	-0.29	0.18	0.74	0.43		-0.3	ICUI
MLSS	0.87	-0.67	0.79	-0.23	0.43	-0.82	-0.16	-0.87	-0.3		MLSS
	GCTK	NXGL	STSS	LUCY	ANGO	ATRC	AKYA	ATR	ICUI	MLSS

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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

MLSS	+ 0.87	GCTK
ATR	+ 0.83	ATRC
MLSS	+ 0.79	STSS
ICUI	+ 0.74	AKYA
ICUI	+ 0.69	LUCY
ATRC	+ 0.66	NXGL

High negative correlations

MLSS	- 0.87	ATR
ATR	- 0.86	STSS
ATRC	- 0.84	GCTK
MLSS	- 0.82	ATRC
ATR	- 0.78	GCTK
NXGL	- 0.7	GCTK

Risk-Adjusted Indicators

There is a big difference between Avinger Stock performing well and Avinger 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 Avinger'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
GCTK	6.13	(2.44)	0.00	(0.70)	0.00	0.00	10.40	(13.89)	90.86
NXGL	3.25	0.26	0.07	0.43	3.29	(4.06)	8.02	(5.92)	28.75
STSS	4.55	(0.47)	0.00	(0.90)	0.00	0.00	9.29	(10.13)	34.02
LUCY	7.12	1.14	0.20	0.68	5.84	(9.43)	25.00	(10.45)	69.90
ANGO	2.15	(0.31)	0.00	(0.05)	0.00	0.00	3.71	(4.03)	19.00
ATRC	1.92	0.47	0.26	0.50	1.39	(2.28)	4.67	(3.12)	23.09
AKYA	3.96	(0.31)	0.00	(0.01)	0.00	0.00	9.32	(4.96)	40.94
ATR	0.71	0.14	0.08	0.33	0.86	(0.76)	1.47	(1.37)	7.86
ICUI	1.21	(0.05)	(0.02)	0.08	1.31	(1.31)	2.87	(2.38)	7.25
MLSS	2.97	(0.44)	0.00	(0.33)	0.00	0.00	8.45	(7.89)	27.59

Avinger Corporate Management

Keith Schaefer	Chief Officer	Profile
Corey Gibbs	Vice Sales	Profile
Nabeel Subainati	Principal Finance	Profile
Himanshu Patel	Chief Officer	Profile
MD FACC	Chief Officer	Profile

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