Beyond Medical Correlations

DOCKF Stock

USD 0.02 0 22.70%

The current 90-days correlation between Beyond Medical Techn and Vera Bradley is 0.01 (i.e., Significant diversification). The correlation of Beyond 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.

Beyond Medical Correlation With Market

Significant diversification

The correlation between Beyond Medical Technologies 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 Beyond Medical Technologies and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Beyond Medical Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Beyond Stock

0.64

General Dynamics Fiscal Year End 22nd of January 2025

Pair Corr

Moving against Beyond Stock

0.77	BE	Bloom Energy Corp	Pair Corr
0.65	ARQ	Arq Inc Symbol Change	Pair Corr
0.55	G	Genpact Limited	Pair Corr
0.55	AL	Air Lease	Pair Corr
0.49	ATMU	Atmus Filtration Tec	Pair Corr
0.49	CECO	CECO Environmental Corp	Pair Corr
0.49	AZ	A2Z Smart Technologies	Pair Corr
0.46	R	Ryder System	Pair Corr
0.41	ZWS	Zurn Elkay Water	Pair Corr
0.63	PL	Planet Labs PBC Earnings Call This Week	Pair Corr
0.61	KC	Kingsoft Cloud Holdings Upward Rally	Pair Corr
0.53	CR	Crane Company	Pair Corr
0.48	BR	Broadridge Financial	Pair Corr
0.48	HI	Hillenbrand	Pair Corr
0.48	OC	Owens Corning	Pair Corr
0.48	PH	Parker Hannifin	Pair Corr
0.36	IR	Ingersoll Rand	Pair Corr
0.33	LZ	LegalZoom	Pair Corr
0.33	NX	Quanex Building Products Downward Rally	Pair Corr

Related Correlations Analysis

	VRA	CNP	GEV	LNT	AM	NI	PCG	KNTK
VRA		0.02	-0.07	0.03	0.12	-0.01	0.09	0.05	VRA
CNP	0.02		0.84	0.79	0.87	0.91	0.76	0.86	CNP
GEV	-0.07	0.84		0.49	0.75	0.89	0.77	0.92	GEV
LNT	0.03	0.79	0.49		0.59	0.72	0.67	0.59	LNT
AM	0.12	0.87	0.75	0.59		0.74	0.57	0.78	AM
NI	-0.01	0.91	0.89	0.72	0.74		0.85	0.93	NI
PCG	0.09	0.76	0.77	0.67	0.57	0.85		0.86	PCG
KNTK	0.05	0.86	0.92	0.59	0.78	0.93	0.86		KNTK
	VRA	CNP	GEV	LNT	AM	NI	PCG	KNTK

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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

KNTK	+ 0.93	NI
KNTK	+ 0.92	GEV
NI	+ 0.91	CNP
NI	+ 0.89	GEV
AM	+ 0.87	CNP
KNTK	+ 0.86	CNP

High negative correlations

GEV	- 0.07	VRA
NI	- 0.01	VRA

Risk-Adjusted Indicators

There is a big difference between Beyond Stock performing well and Beyond 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 Beyond 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
VRA	1.80	(0.12)	(0.03)	0.02	2.29	(2.17)	4.21	(3.84)	12.01
CNP	0.87	0.28	0.13	29.22	0.95	(0.98)	1.80	(1.74)	5.92
GEV	2.00	0.75	0.35	0.61	1.73	(2.49)	5.04	(2.17)	14.24
LNT	0.90	0.16	0.04	12.12	1.00	(1.03)	2.04	(1.89)	5.81
AM	0.99	0.05	0.02	0.19	1.26	(1.03)	2.27	(2.12)	6.60
NI	0.70	0.23	0.15	2.58	0.54	(0.82)	1.54	(1.23)	3.98
PCG	0.81	0.17	0.07	0.76	0.88	(0.87)	2.45	(1.76)	6.12
KNTK	1.50	0.42	0.21	0.68	1.33	(1.71)	3.19	(2.38)	11.51

Beyond Medical Corporate Executives

Elected by the shareholders, the Beyond Medical's board of directors comprises two types of representatives: Beyond Medical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Beyond. The board's role is to monitor Beyond Medical's management team and ensure that shareholders' interests are well served. Beyond Medical's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Beyond Medical's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jatin Bakshi

CFO Secretary

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