Fonar Correlations

FONR Stock

USD 18.60 0.05 0.27%

The current 90-days correlation between Fonar and Hyperfine is -0.18 (i.e., Good diversification). The correlation of Fonar 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.

Fonar Correlation With Market

Very poor diversification

The correlation between Fonar and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fonar and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Fonar Stock

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

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

Moving together with Fonar Stock

0.72	HYB	HOYA	Pair Corr
0.77	DXCM	DexCom Inc	Pair Corr
0.86	VREX	Varex Imaging Corp	Pair Corr
0.63	ECOR	Electrocore LLC	Pair Corr
0.89	EDAP	EDAP TMS SA	Pair Corr
0.85	SKAN	SKAN Group AG	Pair Corr
0.92	EKSO	Ekso Bionics Holdings	Pair Corr

Moving against Fonar Stock

0.87	ELAB	Elevai Labs Common	Pair Corr
0.7	OTC	Ocumetics Technology Corp	Pair Corr
0.69	DYNT	Dynatronics	Pair Corr
0.66	SI	Shoulder Innovations	Pair Corr
0.63	IPD	Impedimed Earnings Call This Week	Pair Corr
0.56	EW	Edwards Lifesciences Corp	Pair Corr
0.54	VVOS	Vivos Therapeutics	Pair Corr
0.51	IL3	Integra LifeSciences Earnings Call This Week	Pair Corr
0.35	SPEC	Inspecs Group plc	Pair Corr
0.32	VNRX	Volitionrx	Pair Corr
0.89	FEMY	Femasys	Pair Corr
0.75	XEJ	Accuray Incorporated	Pair Corr
0.75	EUDA	EUDA Health Holdings	Pair Corr
0.73	ENOV	Enovis Corp Earnings Call This Week	Pair Corr
0.69	2DR	Inspire Medical Systems	Pair Corr
0.65	ABT	Abbott Laboratories	Pair Corr
0.64	IUI1	Intuitive Surgical	Pair Corr
0.57	UK2	Shandong Weigao Group	Pair Corr

Related Correlations Analysis

	HYPR	VANI	NSPR	RCEL	QIPT	EDAP	ARTV	APYX	LUNG	IFRX
HYPR		0.25	-0.55	0.65	0.31	0.46	0.24	0.38	-0.44	-0.25	HYPR
VANI	0.25		0.11	0.17	-0.32	-0.41	-0.12	0.44	0.14	0.25	VANI
NSPR	-0.55	0.11		-0.46	-0.52	-0.71	-0.31	-0.32	0.35	0.64	NSPR
RCEL	0.65	0.17	-0.46		0.17	0.49	0.05	0.51	-0.68	-0.46	RCEL
QIPT	0.31	-0.32	-0.52	0.17		0.82	0.77	-0.35	0.16	-0.63	QIPT
EDAP	0.46	-0.41	-0.71	0.49	0.82		0.5	0.01	-0.3	-0.79	EDAP
ARTV	0.24	-0.12	-0.31	0.05	0.77	0.5		-0.36	0.28	-0.27	ARTV
APYX	0.38	0.44	-0.32	0.51	-0.35	0.01	-0.36		-0.52	-0.2	APYX
LUNG	-0.44	0.14	0.35	-0.68	0.16	-0.3	0.28	-0.52		0.21	LUNG
IFRX	-0.25	0.25	0.64	-0.46	-0.63	-0.79	-0.27	-0.2	0.21		IFRX
	HYPR	VANI	NSPR	RCEL	QIPT	EDAP	ARTV	APYX	LUNG	IFRX

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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

EDAP	+ 0.82	QIPT
ARTV	+ 0.77	QIPT
RCEL	+ 0.65	HYPR
IFRX	+ 0.64	NSPR
APYX	+ 0.51	RCEL
ARTV	+ 0.5	EDAP

High negative correlations

IFRX	- 0.79	EDAP
EDAP	- 0.71	NSPR
LUNG	- 0.68	RCEL
IFRX	- 0.63	QIPT
NSPR	- 0.55	HYPR
LUNG	- 0.52	APYX

Risk-Adjusted Indicators

There is a big difference between Fonar Stock performing well and Fonar 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 Fonar'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
HYPR	3.67	0.02	0.01	0.09	3.93	(4.77)	8.77	(7.14)	18.91
VANI	2.83	(0.11)	0.00	(0.14)	0.00	0.00	6.78	(6.40)	18.98
NSPR	2.72	(0.33)	0.00	(0.08)	0.00	0.00	5.56	(5.82)	20.05
RCEL	2.65	0.40	0.13	1.05	2.26	(3.43)	7.51	(3.85)	17.83
QIPT	1.49	0.75	0.62	(47.81)	0.00	(2.29)	3.16	(1.64)	34.66
EDAP	4.33	1.23	0.31	0.59	3.45	(6.43)	14.48	(5.35)	38.43
ARTV	6.12	1.11	0.14	2.29	6.98	(6.86)	8.00	(8.33)	118.69
APYX	2.55	(0.03)	(0.02)	0.01	3.03	(2.92)	5.15	(4.44)	24.47
LUNG	3.89	0.02	0.01	0.08	4.13	(4.56)	8.97	(6.72)	22.72
IFRX	3.83	(0.64)	0.00	(0.31)	0.00	0.00	7.23	(8.73)	20.54

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