Electromed Correlations

ELMD Stock

USD 29.09 0.69 2.43%

The current 90-days correlation between Electromed and Perspective Therapeutics is -0.04 (i.e., Good diversification). The correlation of Electromed 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.

Electromed Correlation With Market

Very weak diversification

The correlation between Electromed and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electromed and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Electromed Stock

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

For information on how to trade Electromed Stock refer to our How to Trade Electromed Stock guide.

Moving together with Electromed Stock

0.62	PPERY	Bank Mandiri Persero Earnings Call Next Week	Pair Corr
0.69	MCD	McDonalds	Pair Corr

Moving against Electromed Stock

0.65	PBCRY	Bank Central Asia	Pair Corr
0.6	BKRKY	Bank Rakyat	Pair Corr
0.48	T	ATT Inc Earnings Call This Week	Pair Corr
0.43	BKRKF	PT Bank Rakyat	Pair Corr
0.42	HPQ	HP Inc	Pair Corr
0.33	PBCRF	PT Bank Central	Pair Corr
0.31	MSFT	Microsoft Aggressive Push	Pair Corr

Related Correlations Analysis

	CATX	HSDT	NNOX	INGN	PROF	TLSI	OM	MXCT	INFU	VMD
CATX		-0.52	-0.45	-0.07	0.65	0.49	-0.2	-0.27	-0.43	0.72	CATX
HSDT	-0.52		0.24	0.64	-0.73	-0.62	0.77	0.27	0.79	-0.76	HSDT
NNOX	-0.45	0.24		0.3	-0.47	0.12	0.02	0.41	0.19	-0.32	NNOX
INGN	-0.07	0.64	0.3		-0.57	-0.15	0.6	0.61	0.72	-0.43	INGN
PROF	0.65	-0.73	-0.47	-0.57		0.46	-0.52	-0.59	-0.73	0.84	PROF
TLSI	0.49	-0.62	0.12	-0.15	0.46		-0.63	0.14	-0.41	0.63	TLSI
OM	-0.2	0.77	0.02	0.6	-0.52	-0.63		-0.01	0.59	-0.52	OM
MXCT	-0.27	0.27	0.41	0.61	-0.59	0.14	-0.01		0.52	-0.36	MXCT
INFU	-0.43	0.79	0.19	0.72	-0.73	-0.41	0.59	0.52		-0.61	INFU
VMD	0.72	-0.76	-0.32	-0.43	0.84	0.63	-0.52	-0.36	-0.61		VMD
	CATX	HSDT	NNOX	INGN	PROF	TLSI	OM	MXCT	INFU	VMD

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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

VMD	+ 0.84	PROF
INFU	+ 0.79	HSDT
OM	+ 0.77	HSDT
VMD	+ 0.72	CATX
INFU	+ 0.72	INGN
PROF	+ 0.65	CATX

High negative correlations

VMD	- 0.76	HSDT
INFU	- 0.73	PROF
PROF	- 0.73	HSDT
OM	- 0.63	TLSI
TLSI	- 0.62	HSDT
VMD	- 0.61	INFU

Risk-Adjusted Indicators

There is a big difference between Electromed Stock performing well and Electromed 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 Electromed'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
CATX	3.82	0.04	0.00	0.18	5.73	(3.40)	6.25	(7.83)	26.95
HSDT	5.64	(1.02)	0.00	(0.54)	0.00	0.00	11.43	(11.17)	27.63
NNOX	3.81	(0.22)	0.00	(0.17)	0.00	0.00	9.44	(6.23)	36.87
INGN	1.89	(0.55)	0.00	(0.86)	0.00	0.00	2.91	(3.89)	19.47
PROF	2.88	0.32	0.12	0.32	2.71	(3.66)	7.37	(3.80)	19.12
TLSI	3.39	0.15	0.03	0.29	4.31	(3.76)	8.30	(7.86)	25.94
OM	5.17	(1.01)	0.00	1.88	0.00	0.00	9.51	(10.93)	52.35
MXCT	2.95	(0.59)	0.00	(0.38)	0.00	0.00	4.91	(6.96)	16.52
INFU	2.12	(0.38)	0.00	(0.32)	0.00	0.00	4.12	(4.36)	12.64
VMD	1.41	0.11	0.04	0.37	1.56	(1.56)	3.15	(2.79)	8.29

Electromed Corporate Management

Amy Yanta	Quality Affairs	Profile
Brad Nagel	Chief Officer	Profile
Diane Kaufman	Vice Resources	Profile
William George	Secretary	Profile
Christopher Holland	Chief Officer	Profile

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