Fonar Correlations

FONR Stock

USD 18.65 0.02 0.11%

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 weak diversification

The correlation between Fonar and DJI is 0.57 (i.e., Very weak 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 employment.

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

Moving together with Fonar Stock

0.67	BAX	Baxter International	Pair Corr
0.64	BDX	Becton Dickinson Earnings Call This Week	Pair Corr
0.68	DHR	Danaher Earnings Call Tomorrow	Pair Corr
0.71	XRAY	Dentsply Sirona	Pair Corr
0.65	688358	Chison Medical Techn	Pair Corr
0.78	600587	Shinva Medical Instrument	Pair Corr
0.82	688626	Xiangyu Medical	Pair Corr
0.81	4DX	4DMEDICAL	Pair Corr
0.73	688151	Hubei Huaqiang High	Pair Corr
0.73	688613	Allgens Medical Tech	Pair Corr
0.79	300753	Jiangsu Apon Medical	Pair Corr
0.82	688580	Nanjing Vishee Medical	Pair Corr

Moving against Fonar Stock

0.87	688656	HOB Biotech Group	Pair Corr
0.78	ELAB	Elevai Labs Common	Pair Corr
0.51	WOK	WORK Medical Technology	Pair Corr
0.48	688198	Beijing Balance Medical	Pair Corr
0.48	300981	Zhonghong Pulin Medical	Pair Corr
0.44	INGN	Inogen Inc	Pair Corr
0.69	NTI	Neurotech International	Pair Corr
0.49	688013	Touchstone International	Pair Corr
0.48	PODD	Insulet	Pair Corr
0.47	NNOX	Nano X Imaging	Pair Corr
0.37	300888	Winner Medical	Pair Corr
0.36	MASI	Masimo	Pair Corr

Related Correlations Analysis

	HYPR	VANI	NSPR	RCEL	QIPT	EDAP	ARTV	APYX	LUNG	IFRX
HYPR		0.52	-0.29	0.62	0.13	0.27	0.21	0.09	-0.38	0.04	HYPR
VANI	0.52		0.16	0.54	-0.25	-0.19	0.02	-0.01	-0.22	0.24	VANI
NSPR	-0.29	0.16		-0.23	-0.44	-0.62	-0.29	-0.54	0.03	0.37	NSPR
RCEL	0.62	0.54	-0.23		-0.18	-0.02	-0.03	0.35	-0.56	0.19	RCEL
QIPT	0.13	-0.25	-0.44	-0.18		0.9	0.82	-0.14	0.53	-0.61	QIPT
EDAP	0.27	-0.19	-0.62	-0.02	0.9		0.75	0.02	0.27	-0.65	EDAP
ARTV	0.21	0.02	-0.29	-0.03	0.82	0.75		-0.22	0.37	-0.37	ARTV
APYX	0.09	-0.01	-0.54	0.35	-0.14	0.02	-0.22		-0.22	-0.17	APYX
LUNG	-0.38	-0.22	0.03	-0.56	0.53	0.27	0.37	-0.22		-0.31	LUNG
IFRX	0.04	0.24	0.37	0.19	-0.61	-0.65	-0.37	-0.17	-0.31		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	+ 0.9	QIPT
ARTV	+ 0.82	QIPT
ARTV	+ 0.75	EDAP
RCEL	+ 0.62	HYPR
RCEL	+ 0.54	VANI
LUNG	+ 0.53	QIPT

High negative correlations

IFRX	- 0.65	EDAP
EDAP	- 0.62	NSPR
IFRX	- 0.61	QIPT
LUNG	- 0.56	RCEL
APYX	- 0.54	NSPR
QIPT	- 0.44	NSPR

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	4.04	0.21	0.05	0.21	4.14	(5.26)	9.09	(7.22)	18.87
VANI	2.78	(0.24)	0.00	(1.79)	0.00	0.00	5.99	(5.62)	18.10
NSPR	3.55	(0.53)	0.00	(0.28)	0.00	0.00	6.53	(7.11)	24.29
RCEL	2.57	0.36	0.13	0.64	2.12	(3.41)	6.67	(3.80)	16.25
QIPT	2.05	0.73	0.33	3.45	1.13	(2.91)	5.36	(2.60)	34.66
EDAP	3.91	1.13	0.26	1.11	3.62	(5.56)	11.41	(5.00)	38.43
ARTV	6.67	0.72	0.09	0.50	7.62	(7.60)	8.00	(11.11)	118.69
APYX	2.96	0.57	0.18	0.59	2.53	(3.63)	8.25	(4.44)	21.53
LUNG	4.86	(0.14)	(0.01)	0.01	5.85	(5.33)	9.92	(8.50)	32.51
IFRX	4.70	(0.56)	0.00	(0.18)	0.00	0.00	7.84	(9.17)	43.11

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