Apyx Medical Correlations

BOV Stock

1.29 0.05 3.73%

The current 90-days correlation between Apyx Medical Corp and DATATEC LTD 2 is 0.18 (i.e., Average diversification). The correlation of Apyx 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.

Apyx Medical Correlation With Market

Significant diversification

The correlation between Apyx Medical Corp and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apyx Medical Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Apyx Medical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Apyx Medical when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Apyx Medical - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Apyx Medical Corp to buy it.

Moving together with Apyx Stock

0.85	APC	Apple Inc	Pair Corr
0.84	APC	Apple Inc	Pair Corr
0.84	APC	Apple Inc	Pair Corr
0.84	APC	Apple Inc	Pair Corr
0.84	APC	Apple Inc	Pair Corr
0.85	APC	Apple Inc	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.82	MSF	Microsoft	Pair Corr
0.83	AZ5	AUTOZONE Dusseldorf	Pair Corr
0.69	AAH	AHLERS	Pair Corr
0.78	BN9	Bank of New York Mellon	Pair Corr
0.61	FDX	FedEx	Pair Corr
0.72	1FA	SPROUTS FARMERS MKT	Pair Corr
0.85	CE1	Perdoceo Education	Pair Corr
0.84	HEI	Heidelberg Materials	Pair Corr
0.65	4DH	Dana Inc	Pair Corr
0.85	LIE	SUN LIFE FINANCIAL	Pair Corr
0.64	FAA	FABASOFT Dusseldorf	Pair Corr
0.63	GIFN	GigaMedia	Pair Corr
0.83	NTOA	Nintendo	Pair Corr
0.74	IUI1	Intuitive Surgical Earnings Call This Week	Pair Corr
0.66	SNQB	SANOMA Dusseldorf	Pair Corr
0.64	CFC	UET United Electronic	Pair Corr
0.77	KEL	Kellogg Company	Pair Corr
0.62	UNC	UCB Dusseldorf	Pair Corr
0.85	XKR	KAR Auction Services	Pair Corr
0.82	YC3	CONCORDIA FINL GROUP	Pair Corr
0.78	NY70	MOLSON RS BEVERAGE	Pair Corr

Moving against Apyx Stock

0.77

03F

IDP EDUCATION LTD

Pair Corr

Related Correlations Analysis

	9GY	688	6PU	NT5	ADP	PL8	DTT0
9GY		0.03	0.31	0.73	0.87	-0.31	0.64	9GY
688	0.03		0.08	0.25	0.27	0.25	0.02	688
6PU	0.31	0.08		0.69	0.37	-0.29	0.82	6PU
NT5	0.73	0.25	0.69		0.82	-0.12	0.78	NT5
ADP	0.87	0.27	0.37	0.82		-0.12	0.57	ADP
PL8	-0.31	0.25	-0.29	-0.12	-0.12		-0.46	PL8
DTT0	0.64	0.02	0.82	0.78	0.57	-0.46		DTT0
	9GY	688	6PU	NT5	ADP	PL8	DTT0

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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

ADP	+ 0.87	9GY
DTT0	+ 0.82	6PU
ADP	+ 0.82	NT5
DTT0	+ 0.78	NT5
NT5	+ 0.73	9GY
NT5	+ 0.69	6PU

High negative correlations

DTT0	- 0.46	PL8
PL8	- 0.31	9GY
PL8	- 0.29	6PU
PL8	- 0.12	ADP
PL8	- 0.12	NT5

Risk-Adjusted Indicators

There is a big difference between Apyx Stock performing well and Apyx 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 Apyx 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
9GY	2.01	0.57	0.24	6.10	1.33	(3.74)	5.33	(2.74)	21.30
688	1.81	0.12	0.04	0.30	2.28	(2.85)	3.75	(4.55)	19.87
6PU	2.43	0.44	0.18	(1.54)	2.24	(3.19)	5.38	(3.46)	27.20
NT5	1.75	0.23	0.10	12.55	2.00	(1.99)	3.49	(3.47)	16.47
ADP	0.78	0.13	0.13	(2.52)	0.80	(0.89)	2.06	(1.48)	6.50
PL8	0.71	(0.05)	0.00	(0.54)	0.00	0.00	1.53	(1.51)	4.09
DTT0	1.84	0.47	0.22	(0.96)	1.70	(2.32)	4.55	(3.21)	11.89

Be your own money manager

Our tools can tell you how much better you can do entering a position in Apyx Medical without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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