Brainsway Correlations

BWAY Stock

USD 9.71 0.03 0.31%

The current 90-days correlation between Brainsway and Delcath Systems is 0.13 (i.e., Average diversification). The correlation of Brainsway 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.

Brainsway Correlation With Market

Modest diversification

The correlation between Brainsway and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brainsway 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 Brainsway. 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 Brainsway Stock please use our How to Invest in Brainsway guide.

Moving together with Brainsway Stock

0.87	VMD	Viemed Healthcare	Pair Corr
0.86	WGS	GeneDx Holdings Corp	Pair Corr
0.63	LNSR	LENSAR Inc	Pair Corr
0.71	NYXH	Nyxoah	Pair Corr
0.72	OMIC	Singular Genomics Systems	Pair Corr
0.72	ALHC	Alignment Healthcare LLC	Pair Corr

Moving against Brainsway Stock

0.84	ELV	Elevance Health Fiscal Year End 22nd of January 2025	Pair Corr
0.8	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.77	CI	Cigna Corp	Pair Corr
0.75	CNC	Centene Corp Sell-off Trend	Pair Corr
0.63	TFX	Teleflex Incorporated	Pair Corr
0.63	GCTK	GlucoTrack	Pair Corr
0.62	ZJYL	JIN MEDICAL INTERNATIONAL	Pair Corr
0.56	MOH	Molina Healthcare	Pair Corr
0.52	XYLO	Xylo Technologies Symbol Change	Pair Corr
0.51	XTNT	Xtant Medical Holdings	Pair Corr
0.37	MASS	908 Devices	Pair Corr
0.35	AHG	Akso Health Group	Pair Corr
0.78	TNDM	Tandem Diabetes Care	Pair Corr
0.72	ERNA	Eterna Therapeutics	Pair Corr
0.7	VALN	Valneva SE ADR	Pair Corr
0.67	VRAX	Virax Biolabs Group	Pair Corr
0.65	MXCT	MaxCyte	Pair Corr
0.6	NEOG	Neogen	Pair Corr
0.43	ACET	Adicet Bio Buyout Trend	Pair Corr
0.43	SNDA	Sonida Senior Living	Pair Corr
0.37	CMAXW	CareMax	Pair Corr

Related Correlations Analysis

	MDGS	DCTH	HSKA	FNA	USAQ	VAPO	VERO	TCMD	NPCE	ELMD
MDGS		0.12	-0.77	0.1	0.18	0.13	0.6	-0.57	-0.05	-0.76	MDGS
DCTH	0.12		-0.21	0.06	0.47	-0.5	-0.22	0.08	0.06	0.05	DCTH
HSKA	-0.77	-0.21		-0.18	-0.19	-0.09	-0.33	0.59	0.0	0.77	HSKA
FNA	0.1	0.06	-0.18		-0.5	-0.58	-0.31	0.48	0.93	0.34	FNA
USAQ	0.18	0.47	-0.19	-0.5		0.14	0.16	-0.44	-0.51	-0.37	USAQ
VAPO	0.13	-0.5	-0.09	-0.58	0.14		0.63	-0.54	-0.6	-0.52	VAPO
VERO	0.6	-0.22	-0.33	-0.31	0.16	0.63		-0.58	-0.38	-0.7	VERO
TCMD	-0.57	0.08	0.59	0.48	-0.44	-0.54	-0.58		0.66	0.88	TCMD
NPCE	-0.05	0.06	0.0	0.93	-0.51	-0.6	-0.38	0.66		0.49	NPCE
ELMD	-0.76	0.05	0.77	0.34	-0.37	-0.52	-0.7	0.88	0.49		ELMD
	MDGS	DCTH	HSKA	FNA	USAQ	VAPO	VERO	TCMD	NPCE	ELMD

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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

NPCE	+ 0.93	FNA
ELMD	+ 0.88	TCMD
ELMD	+ 0.77	HSKA
NPCE	+ 0.66	TCMD
VERO	+ 0.63	VAPO
VERO	+ 0.6	MDGS

High negative correlations

HSKA	- 0.77	MDGS
ELMD	- 0.76	MDGS
ELMD	- 0.7	VERO
NPCE	- 0.6	VAPO
TCMD	- 0.58	VERO
VAPO	- 0.58	FNA

Risk-Adjusted Indicators

There is a big difference between Brainsway Stock performing well and Brainsway 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 Brainsway'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
MDGS	4.51	(0.24)	0.00	0.25	0.00	0.00	8.93	(10.80)	32.60
DCTH	2.71	0.19	0.05	0.34	3.16	(2.93)	7.57	(4.00)	25.52
HSKA	1.18	0.62	0.82	(3.21)	0.00	(1.25)	3.63	(0.71)	21.36
FNA	3.71	0.13	0.07	0.17	4.06	(4.15)	7.32	(6.30)	43.16
USAQ	7.63	0.84	0.01	(0.08)	8.94	(25.52)	30.00	(17.65)	109.29
VAPO	4.98	(0.37)	0.00	(0.19)	0.00	0.00	15.38	(11.63)	34.31
VERO	6.80	(0.51)	0.00	(0.04)	0.00	0.00	14.71	(13.79)	94.50
TCMD	2.16	0.33	0.15	0.32	2.49	(2.50)	5.99	(3.29)	15.80
NPCE	3.46	0.18	0.10	0.20	3.15	(4.25)	9.73	(6.19)	35.38
ELMD	2.50	0.99	0.36	1.07	1.92	(3.06)	6.65	(3.90)	13.47

Brainsway Corporate Management

Christopher Jako	Pres CEO	Profile
Ido Marom	Chief Officer	Profile
Gilead Moiseyev	Chief Officer	Profile
Moria Ankri	VP RD	Profile
Pr Zangen	Member CoFounder	Profile
Hillegonda Groen	Vice Sales	Profile
Ross Mitchell	Vice Marketing	Profile

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