Electrocore LLC Correlations

ECOR Stock

USD 6.24 0.00 0.00%

The current 90-days correlation between Electrocore LLC and Neuroone Medical Technologies is 0.08 (i.e., Significant diversification). The correlation of Electrocore LLC 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.

Electrocore LLC Correlation With Market

Very weak diversification

The correlation between Electrocore LLC and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electrocore LLC and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Electrocore Stock

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

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

Moving together with Electrocore Stock

0.63	OM	Outset Medical	Pair Corr
0.68	DXCM	DexCom Inc	Pair Corr
0.77	VREX	Varex Imaging Corp	Pair Corr
0.8	SKAN	SKAN Group AG	Pair Corr

Moving against Electrocore Stock

0.54	ELAB	Elevai Labs Common	Pair Corr
0.5	DYNT	Dynatronics	Pair Corr
0.49	VVOS	Vivos Therapeutics	Pair Corr
0.48	IL3	Integra LifeSciences Earnings Call This Week	Pair Corr
0.38	SPEC	Inspecs Group plc	Pair Corr
0.38	FIE1	FIELMANN AG ON Earnings Call This Week	Pair Corr
0.34	49Z	Cellink AB	Pair Corr
0.34	SI	Shoulder Innovations	Pair Corr
0.33	IPD	Impedimed Earnings Call Tomorrow	Pair Corr
0.33	OTC	Ocumetics Technology Corp	Pair Corr
0.68	MM3	Merit Medical Systems Earnings Call Tomorrow	Pair Corr
0.66	ENOV	Enovis Corp Earnings Call This Week	Pair Corr
0.64	ABT	Abbott Laboratories	Pair Corr
0.59	IUI1	Intuitive Surgical	Pair Corr
0.58	EUDA	EUDA Health Holdings	Pair Corr
0.48	FEMY	Femasys	Pair Corr
0.47	2DR	Inspire Medical Systems	Pair Corr
0.42	XEJ	Accuray Incorporated	Pair Corr

Related Correlations Analysis

	NMTC	YI	MYO	HYPD	RNXT	ZYXI	MAIA	RBOT	BTAI	PYPD
NMTC		0.2	0.19	-0.37	0.62	-0.64	0.65	-0.18	-0.19	0.82	NMTC
YI	0.2		-0.55	-0.06	0.33	-0.44	0.6	-0.51	-0.55	0.45	YI
MYO	0.19	-0.55		-0.38	0.37	0.16	-0.06	0.32	0.56	0.12	MYO
HYPD	-0.37	-0.06	-0.38		-0.5	0.35	-0.43	0.2	-0.03	-0.43	HYPD
RNXT	0.62	0.33	0.37	-0.5		-0.37	0.52	-0.1	0.13	0.71	RNXT
ZYXI	-0.64	-0.44	0.16	0.35	-0.37		-0.63	0.63	0.66	-0.69	ZYXI
MAIA	0.65	0.6	-0.06	-0.43	0.52	-0.63		-0.48	-0.43	0.82	MAIA
RBOT	-0.18	-0.51	0.32	0.2	-0.1	0.63	-0.48		0.76	-0.44	RBOT
BTAI	-0.19	-0.55	0.56	-0.03	0.13	0.66	-0.43	0.76		-0.35	BTAI
PYPD	0.82	0.45	0.12	-0.43	0.71	-0.69	0.82	-0.44	-0.35		PYPD
	NMTC	YI	MYO	HYPD	RNXT	ZYXI	MAIA	RBOT	BTAI	PYPD

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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

PYPD	+ 0.82	NMTC
PYPD	+ 0.82	MAIA
BTAI	+ 0.76	RBOT
PYPD	+ 0.71	RNXT
BTAI	+ 0.66	ZYXI
MAIA	+ 0.65	NMTC

High negative correlations

PYPD	- 0.69	ZYXI
ZYXI	- 0.64	NMTC
MAIA	- 0.63	ZYXI
BTAI	- 0.55	YI
MYO	- 0.55	YI
RBOT	- 0.51	YI

Risk-Adjusted Indicators

There is a big difference between Electrocore Stock performing well and Electrocore LLC 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 Electrocore LLC'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
NMTC	4.24	(0.01)	0.01	0.06	5.05	(5.13)	9.59	(8.16)	31.34
YI	5.13	1.34	0.27	4.35	4.03	(7.33)	15.20	(8.04)	47.07
MYO	3.58	(0.23)	0.00	(0.04)	0.00	0.00	8.79	(6.90)	21.89
HYPD	6.57	(0.55)	0.00	(0.09)	0.00	0.00	16.94	(11.49)	34.90
RNXT	3.79	0.26	0.08	0.21	3.77	(4.87)	8.33	(6.41)	22.02
ZYXI	16.11	(0.62)	0.00	(0.24)	0.00	0.00	33.33	(31.58)	163.35
MAIA	5.93	1.38	0.16	(3.11)	6.98	(6.46)	12.60	(10.75)	45.94
RBOT	5.08	(0.45)	0.00	(0.13)	0.00	0.00	16.13	(8.26)	36.01
BTAI	3.86	0.04	0.00	0.20	4.11	(4.61)	9.42	(6.97)	25.30
PYPD	2.01	0.21	0.08	0.42	2.12	(2.40)	4.79	(3.63)	14.82

Electrocore LLC Corporate Management

Joshua Lev	Chief Officer	Profile
Jackie Dorsky	VP Marketing	Profile
Manuel Marques	Senior Operations	Profile
Carrie Kochek	Senior Resources	Profile
Donald Melnikoff	Regulatory Engineering	Profile
Michael Mansfield	Vice Marketing	Profile

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