Daxor Correlations

DXR Stock

USD 8.50 0.41 5.07%

The current 90-days correlation between Daxor and Precision Optics, is -0.15 (i.e., Good diversification). The correlation of Daxor 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.

Daxor Correlation With Market

Modest diversification

The correlation between Daxor and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Daxor 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 Daxor. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

To learn how to invest in Daxor Stock, please use our How to Invest in Daxor guide.

Moving together with Daxor Stock

0.81	CI	Cigna Corp	Pair Corr
0.71	ENSG	Ensign Group	Pair Corr
0.76	ABT	Abbott Laboratories Earnings Call This Week	Pair Corr
0.7	BAX	Baxter International	Pair Corr

Moving against Daxor Stock

0.72	ECOR	Electrocore LLC	Pair Corr
0.64	VVOS	Vivos Therapeutics	Pair Corr
0.6	EW	Edwards Lifesciences Corp Sell-off Trend	Pair Corr
0.52	EMBC	Embecta Corp	Pair Corr
0.46	OM	Outset Medical	Pair Corr
0.44	DXCM	DexCom Inc	Pair Corr
0.37	DOCS	Doximity	Pair Corr
0.34	ELMD	Electromed	Pair Corr
0.32	FIGS	Figs Inc	Pair Corr
0.8	AHG	Akso Health Group	Pair Corr
0.36	BSX	Boston Scientific Corp	Pair Corr

Related Correlations Analysis

	INFU	MHUA	KRMD	LMAT	POCI	UTMD	MLSS	PDEX
INFU		-0.43	0.69	0.71	0.89	-0.01	-0.08	0.8	INFU
MHUA	-0.43		-0.74	-0.12	-0.59	0.64	-0.45	-0.73	MHUA
KRMD	0.69	-0.74		0.32	0.83	-0.64	0.47	0.83	KRMD
LMAT	0.71	-0.12	0.32		0.54	0.39	-0.17	0.61	LMAT
POCI	0.89	-0.59	0.83	0.54		-0.29	0.11	0.82	POCI
UTMD	-0.01	0.64	-0.64	0.39	-0.29		-0.55	-0.33	UTMD
MLSS	-0.08	-0.45	0.47	-0.17	0.11	-0.55		0.18	MLSS
PDEX	0.8	-0.73	0.83	0.61	0.82	-0.33	0.18		PDEX
	INFU	MHUA	KRMD	LMAT	POCI	UTMD	MLSS	PDEX

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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

POCI	+ 0.89	INFU
POCI	+ 0.83	KRMD
PDEX	+ 0.83	KRMD
PDEX	+ 0.82	POCI
PDEX	+ 0.8	INFU
LMAT	+ 0.71	INFU

High negative correlations

KRMD	- 0.74	MHUA
PDEX	- 0.73	MHUA
UTMD	- 0.64	KRMD
POCI	- 0.59	MHUA
MLSS	- 0.55	UTMD
MLSS	- 0.45	MHUA

Risk-Adjusted Indicators

There is a big difference between Daxor Stock performing well and Daxor 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 Daxor'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
INFU	2.61	0.30	0.09	2.49	2.80	(2.99)	5.63	(4.38)	24.94
MHUA	6.48	(0.76)	0.00	(0.44)	0.00	0.00	15.69	(13.79)	72.35
KRMD	3.02	0.67	0.19	0.85	2.94	(3.77)	8.65	(4.76)	23.89
LMAT	1.44	0.11	0.05	0.18	1.91	(1.57)	3.12	(2.13)	15.87
POCI	2.75	0.25	0.08	1.24	2.80	(3.18)	6.73	(4.76)	17.26
UTMD	0.72	(0.10)	0.00	(0.77)	0.00	0.00	1.10	(1.60)	7.06
MLSS	4.25	0.66	0.13	(0.76)	4.34	(5.33)	9.88	(7.89)	35.99
PDEX	4.38	0.85	0.15	1.02	4.78	(4.83)	10.44	(9.00)	32.97

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