Heartbeam Correlations

BEAT Stock

USD 2.25 0.08 3.69%

The current 90-days correlation between Heartbeam and EUDA Health Holdings is 0.19 (i.e., Average diversification). The correlation of Heartbeam 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.

Heartbeam Correlation With Market

Significant diversification

The correlation between Heartbeam and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heartbeam 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 Heartbeam. 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 Heartbeam Stock please use our How to Invest in Heartbeam guide.

Moving together with Heartbeam Stock

0.63	XAIR	Beyond Air	Pair Corr
0.69	HCAT	Health Catalyst	Pair Corr
0.78	ESPR	Esperion Therapeutics	Pair Corr
0.75	FLGC	Flora Growth Corp	Pair Corr

Moving against Heartbeam Stock

0.68	XTNT	Xtant Medical Holdings	Pair Corr
0.6	AHG	Akso Health Group	Pair Corr
0.38	XYLO	Xylo Technologies Symbol Change	Pair Corr
0.31	LNSR	LENSAR Inc	Pair Corr
0.57	MBOT	Microbot Medical	Pair Corr
0.52	HSCSW	Heart Test Laboratories	Pair Corr
0.49	TNDM	Tandem Diabetes Care	Pair Corr
0.4	VALN	Valneva SE ADR	Pair Corr
0.45	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.36	INKT	Mink Therapeutics	Pair Corr

Related Correlations Analysis

	FOXO	EUDA	UTRS	NUTX	HCTI	BFRG	MGRX	LIFW	HLTH
FOXO		0.1	-0.39	0.15	0.22	0.1	-0.29	0.36	0.36	FOXO
EUDA	0.1		0.11	-0.27	-0.05	0.01	-0.31	0.1	0.44	EUDA
UTRS	-0.39	0.11		0.05	-0.1	0.07	0.26	-0.48	-0.33	UTRS
NUTX	0.15	-0.27	0.05		-0.38	0.07	0.66	-0.52	-0.7	NUTX
HCTI	0.22	-0.05	-0.1	-0.38		0.25	-0.21	0.35	0.24	HCTI
BFRG	0.1	0.01	0.07	0.07	0.25		0.11	0.16	0.05	BFRG
MGRX	-0.29	-0.31	0.26	0.66	-0.21	0.11		-0.56	-0.83	MGRX
LIFW	0.36	0.1	-0.48	-0.52	0.35	0.16	-0.56		0.73	LIFW
HLTH	0.36	0.44	-0.33	-0.7	0.24	0.05	-0.83	0.73		HLTH
	FOXO	EUDA	UTRS	NUTX	HCTI	BFRG	MGRX	LIFW	HLTH

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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

HLTH	+ 0.73	LIFW
MGRX	+ 0.66	NUTX
HLTH	+ 0.44	EUDA
LIFW	+ 0.36	FOXO
HLTH	+ 0.36	FOXO
LIFW	+ 0.35	HCTI

High negative correlations

HLTH	- 0.83	MGRX
HLTH	- 0.7	NUTX
LIFW	- 0.56	MGRX
LIFW	- 0.52	NUTX
LIFW	- 0.48	UTRS
UTRS	- 0.39	FOXO

Risk-Adjusted Indicators

There is a big difference between Heartbeam Stock performing well and Heartbeam 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 Heartbeam'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
FOXO	20.22	6.83	0.45	(2.22)	11.47	(40.95)	35.90	(27.17)	509.71
EUDA	4.88	(0.20)	0.00	5.52	0.00	0.00	10.81	(8.57)	33.72
UTRS	6.67	0.88	0.07	(0.57)	6.57	(13.00)	14.81	(13.04)	107.58
NUTX	4.71	1.01	0.20	0.52	4.95	(5.26)	9.24	(8.36)	47.75
HCTI	10.05	2.23	0.23	(1.07)	7.69	(17.10)	34.83	(18.07)	151.78
BFRG	4.52	0.42	0.07	12.75	4.73	(5.40)	12.69	(7.69)	38.10
MGRX	2.84	0.17	0.04	0.51	2.87	(3.68)	6.01	(5.28)	17.61
LIFW	8.60	(0.27)	0.00	(0.03)	0.00	0.00	14.73	(15.84)	132.79
HLTH	9.64	(2.62)	0.00	1.03	0.00	0.00	24.48	(29.77)	112.25

Heartbeam Corporate Management

Branislav Vajdic	President, Founder	Profile
FACC MD	Chief Officer	Profile
Timothy Cruickshank	Chief Officer	Profile
Richard Brounstein	CFO Treasurer	Profile
Richa Gujarati	Senior Product	Profile
Kenneth Persen	Chief Officer	Profile

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