Cutera Correlations

CUTR Stock

USD 0.33 0.01 3.13%

The current 90-days correlation between Cutera Inc and Inogen Inc is -0.13 (i.e., Good diversification). The correlation of Cutera 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.

Cutera Correlation With Market

Weak diversification

The correlation between Cutera Inc and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cutera Inc 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 Cutera Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Cutera Stock

0.64	FIGS	Figs Inc	Pair Corr
0.89	AGL	agilon health Buyout Trend	Pair Corr
0.87	AMN	AMN Healthcare Services	Pair Corr
0.94	EVH	Evolent Health	Pair Corr
0.8	PHG	Koninklijke Philips	Pair Corr
0.79	ADUS	Addus HomeCare	Pair Corr
0.64	ATPC	Agape ATP	Pair Corr
0.7	A	Agilent Technologies	Pair Corr
0.87	ME	23Andme Holding	Pair Corr
0.76	VALN	Valneva SE ADR	Pair Corr
0.71	EXAS	EXACT Sciences	Pair Corr

Moving against Cutera Stock

0.83	FOXO	FOXO Technologies	Pair Corr
0.78	DOCS	Doximity	Pair Corr
0.75	ITGR	Integer Holdings Corp	Pair Corr
0.56	VMD	Viemed Healthcare	Pair Corr
0.5	VEEV	Veeva Systems Class	Pair Corr
0.5	ENOV	Enovis Corp	Pair Corr
0.83	MMSI	Merit Medical Systems	Pair Corr
0.79	NXGL	Nexgel Inc	Pair Corr
0.79	CRVL	CorVel Corp	Pair Corr
0.7	OMIC	Singular Genomics Systems	Pair Corr
0.35	NXGLW	NexGel Warrant	Pair Corr
0.89	EXEL	Exelixis	Pair Corr
0.85	BMY	Bristol Myers Squibb Sell-off Trend	Pair Corr
0.51	EWTX	Edgewise Therapeutics	Pair Corr
0.33	FBRX	Forte Biosciences Trending	Pair Corr

Related Correlations Analysis

	NPCE	INGN	SRDX	LUNG	APYX	CVRX	HSKA	OFIX	NUVA	CNMD
NPCE		0.27	0.48	-0.05	0.61	0.53	-0.06	0.72	0.58	0.56	NPCE
INGN	0.27		0.71	0.45	0.33	-0.2	-0.86	0.27	0.53	0.53	INGN
SRDX	0.48	0.71		0.44	0.24	-0.25	-0.55	0.23	0.46	0.55	SRDX
LUNG	-0.05	0.45	0.44		-0.16	-0.32	-0.24	-0.14	-0.18	0.63	LUNG
APYX	0.61	0.33	0.24	-0.16		0.47	-0.19	0.67	0.36	0.29	APYX
CVRX	0.53	-0.2	-0.25	-0.32	0.47		0.36	0.8	0.32	0.29	CVRX
HSKA	-0.06	-0.86	-0.55	-0.24	-0.19	0.36		-0.05	-0.43	-0.26	HSKA
OFIX	0.72	0.27	0.23	-0.14	0.67	0.8	-0.05		0.64	0.54	OFIX
NUVA	0.58	0.53	0.46	-0.18	0.36	0.32	-0.43	0.64		0.42	NUVA
CNMD	0.56	0.53	0.55	0.63	0.29	0.29	-0.26	0.54	0.42		CNMD
	NPCE	INGN	SRDX	LUNG	APYX	CVRX	HSKA	OFIX	NUVA	CNMD

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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

OFIX	+ 0.8	CVRX
OFIX	+ 0.72	NPCE
SRDX	+ 0.71	INGN
OFIX	+ 0.67	APYX
NUVA	+ 0.64	OFIX
CNMD	+ 0.63	LUNG

High negative correlations

HSKA	- 0.86	INGN
HSKA	- 0.55	SRDX
NUVA	- 0.43	HSKA
CVRX	- 0.32	LUNG
CNMD	- 0.26	HSKA
CVRX	- 0.25	SRDX

Risk-Adjusted Indicators

There is a big difference between Cutera Stock performing well and Cutera 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 Cutera'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
NPCE	3.45	0.29	0.13	0.24	3.01	(4.20)	9.73	(6.19)	35.38
INGN	1.96	(0.48)	0.00	(0.27)	0.00	0.00	3.57	(4.81)	22.50
SRDX	0.48	(0.06)	0.00	(0.04)	0.00	0.00	1.26	(1.01)	3.22
LUNG	3.16	(0.33)	0.00	(0.06)	0.00	0.00	8.44	(6.89)	20.44
APYX	3.25	0.16	0.04	0.29	3.27	(4.40)	9.38	(6.45)	32.02
CVRX	4.12	0.98	0.21	1.87	3.55	(5.18)	12.31	(8.22)	41.08
HSKA	1.18	0.58	0.83	3.62	0.00	(1.25)	3.63	(0.71)	21.36
OFIX	1.82	0.01	0.02	0.12	2.04	(1.99)	3.90	(3.85)	12.11
NUVA	1.23	(0.01)	0.00	0.25	0.00	0.00	3.31	(2.75)	7.19
CNMD	1.85	0.01	0.01	0.13	2.27	(1.88)	4.56	(3.83)	10.92

Cutera Corporate Management

Rohan Seth	Chief Officer	Profile
Sheila Hopkins	Consultant	Profile
Anne Werdan	Director Relations	Profile
Steve Kreider	Senior Marketing	Profile

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