Basel Medical Correlations
| BMGL Stock | 0.63 0.02 3.28% |
The current 90-days correlation between Basel Medical Group and Vicarious Surgical is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Basel Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Basel Medical Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Basel Medical Correlation With Market
Pay attention - limited upside
The correlation between Basel Medical Group and DJI is -0.71 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Basel Medical Group and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Basel Stock
| 0.68 | MD | Mednax Inc Earnings Call This Week | PairCorr |
| 0.75 | S00 | Spire Healthcare | PairCorr |
| 0.85 | PXS | Paragon Care Limited | PairCorr |
| 0.72 | WGRX | Wellgistics Health Common | PairCorr |
| 0.67 | FLGT | Fulgent Genetics | PairCorr |
Moving against Basel Stock
| 0.78 | NPTH | NeuPath Health | PairCorr |
| 0.7 | X34 | ENHABIT INC DL | PairCorr |
| 0.57 | CI | Cigna Corp | PairCorr |
| 0.49 | V3V | VITA 34 AG | PairCorr |
| 0.46 | GD6 | Ramsay Gnrale de | PairCorr |
| 0.38 | CV | CapsoVision Common Stock | PairCorr |
| 0.89 | UOM | AS Latvijas Juras | PairCorr |
| 0.75 | CLARI | Clariane SE | PairCorr |
| 0.68 | EHAB | Enhabit | PairCorr |
| 0.66 | 636 | Sienna Senior Living Earnings Call This Week | PairCorr |
| 0.42 | BKD | Brookdale Senior Living | PairCorr |
| 0.38 | FRE | Fresenius SE | PairCorr |
| 0.32 | AMS | American Shared Hospital | PairCorr |
| 0.58 | CNC | Centene Corp Aggressive Push | PairCorr |
| 0.58 | ELV | Elevance Health | PairCorr |
| 0.38 | CON | Concentra Group Holdings | PairCorr |
Related Correlations Analysis
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
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Risk-Adjusted Indicators
There is a big difference between Basel Stock performing well and Basel 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 Basel 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PIII | 5.06 | (1.67) | 0.00 | (1.45) | 0.00 | 11.14 | 48.13 | |||
| RBOT | 4.85 | (1.36) | 0.00 | (0.54) | 0.00 | 11.90 | 36.01 | |||
| LDDD | 1.09 | (0.56) | 0.00 | 20.36 | 0.00 | 0.00 | 36.56 | |||
| PRPO | 3.20 | 0.32 | 0.06 | (1.04) | 3.52 | 8.79 | 22.62 | |||
| IBIO | 7.20 | 1.19 | 0.18 | 0.86 | 6.22 | 23.08 | 59.00 | |||
| NTRB | 3.14 | (0.47) | 0.00 | 3.07 | 0.00 | 5.97 | 32.02 | |||
| ITRM | 4.71 | (1.11) | 0.00 | (0.37) | 0.00 | 9.38 | 26.92 | |||
| INTS | 4.88 | (0.60) | 0.00 | (0.22) | 0.00 | 11.43 | 51.11 | |||
| TLPH | 3.31 | (0.56) | 0.00 | 15.45 | 0.00 | 5.88 | 32.54 | |||
| MODD | 4.41 | 0.04 | 0.00 | (0.40) | 6.27 | 10.00 | 41.53 |