Baird Medical Correlations
| BDMDW Stock | 0.11 0.01 8.33% |
The current 90-days correlation between Baird Medical Investment and TriSalus Life Sciences is 0.07 (i.e., Significant diversification). The correlation of Baird Medical 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.
Baird Medical Correlation With Market
Good diversification
The correlation between Baird Medical Investment and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Medical Investment and DJI in the same portfolio, assuming nothing else is changed.
Baird |
Moving together with Baird Stock
| 0.71 | NMRD | Nemaura Medical | PairCorr |
| 0.79 | BDMD | Baird Medical Investment | PairCorr |
| 0.63 | VASO | Vaso Corp | PairCorr |
| 0.64 | VAXX | Vaxxinity | PairCorr |
Moving against Baird Stock
| 0.66 | TLIS | Talis Biomedical Corp | PairCorr |
| 0.65 | CBLL | CeriBell, | PairCorr |
| 0.62 | DYNT | Dynatronics Earnings Call This Week | PairCorr |
| 0.59 | BSGM | BioSig Technologies, | PairCorr |
| 0.54 | PBIO | Pressure Biosciences | PairCorr |
| 0.46 | NAYA | NAYA Biosciences, Symbol Change | PairCorr |
| 0.45 | THMO | Thermogenesis Holdings | PairCorr |
| 0.38 | AFIB | Acutus Medical | PairCorr |
| 0.37 | TBIO | Telesis Bio | PairCorr |
| 0.56 | ATR | AptarGroup Earnings Call This Week | PairCorr |
| 0.48 | OTRKP | Ontrak Inc | PairCorr |
| 0.41 | EPRX | Eupraxia Pharmaceuticals | PairCorr |
Related Correlations Analysis
| 0.07 | 0.11 | -0.13 | -0.46 | BDMDW | ||
| 0.07 | 0.42 | 0.61 | 0.19 | TLSIW | ||
| 0.11 | 0.42 | 0.48 | 0.58 | LFWD | ||
| -0.13 | 0.61 | 0.48 | 0.28 | LUCD | ||
| -0.46 | 0.19 | 0.58 | 0.28 | NAYA | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Baird Stock performing well and Baird Medical 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 Baird Medical'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BDMDW | 29.35 | 9.08 | 0.37 | (2.78) | 17.79 | 56.60 | 500.90 | |||
| TLSIW | 6.09 | 0.14 | (0.01) | (0.01) | 7.12 | 15.38 | 43.64 | |||
| LFWD | 5.84 | (0.49) | 0.00 | (0.87) | 0.00 | 14.29 | 56.20 | |||
| LUCD | 2.58 | 0.13 | 0.02 | 0.39 | 2.90 | 5.88 | 16.11 | |||
| NAYA | 4.88 | (0.63) | 0.00 | (1.35) | 0.00 | 10.34 | 52.37 |
Baird Medical Corporate Executives
Elected by the shareholders, the Baird Medical's board of directors comprises two types of representatives: Baird Medical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Baird. The board's role is to monitor Baird Medical's management team and ensure that shareholders' interests are well served. Baird Medical's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Baird Medical's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Rongjian Lu | CTO GM | Profile |