Glaukos Corp Correlations

GKOS Stock

USD 153.20 6.82 4.66%

The current 90-days correlation between Glaukos Corp and Orthopediatrics Corp is 0.23 (i.e., Modest diversification). The correlation of Glaukos Corp 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.

Glaukos Corp Correlation With Market

Good diversification

The correlation between Glaukos Corp and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Glaukos Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Glaukos Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more information on how to buy Glaukos Stock please use our How to Invest in Glaukos Corp guide.

Moving together with Glaukos Stock

0.71	ELMD	Electromed	Pair Corr
0.73	IRMD	Iradimed	Pair Corr
0.72	NPCE	Neuropace	Pair Corr
0.83	ANGO	AngioDynamics	Pair Corr
0.64	A	Agilent Technologies	Pair Corr
0.74	DRTS	Alpha Tau Medical	Pair Corr
0.75	PFE	Pfizer Inc	Pair Corr

Moving against Glaukos Stock

0.77	FHTX	Foghorn Therapeutics	Pair Corr
0.76	PAVM	PAVmed Inc	Pair Corr
0.75	CGC	Canopy Growth Corp	Pair Corr
0.73	FDMT	4D Molecular Therapeutics	Pair Corr
0.67	ERAS	Erasca Inc	Pair Corr
0.63	EWTX	Edgewise Therapeutics Earnings Call This Week	Pair Corr
0.57	LIVN	LivaNova PLC Earnings Call This Week	Pair Corr
0.53	COO	Cooper Companies, Downward Rally	Pair Corr
0.51	TFX	Teleflex Incorporated Earnings Call This Week	Pair Corr
0.5	SRDX	SurModics	Pair Corr
0.47	DSGN	Design Therapeutics	Pair Corr
0.45	CRVL	CorVel Corp	Pair Corr
0.32	OFIX	Orthofix Medical	Pair Corr
0.84	MRSN	Mersana Therapeutics	Pair Corr
0.8	GLUE	Monte Rosa Therapeutics	Pair Corr
0.75	IPSC	Century Therapeutics	Pair Corr
0.74	LRMR	Larimar Therapeutics	Pair Corr
0.72	LYEL	Lyell Immunopharma	Pair Corr
0.71	KRYS	Krystal Biotech	Pair Corr
0.68	IMVT	Immunovant	Pair Corr
0.62	MLYS	Mineralys Therapeutics,	Pair Corr

Related Correlations Analysis

	KIDS	CNMD	LIVN	FNA	OFIX	NUVA	HSKA	BRKR	NVRO	ITGR
KIDS		0.06	0.16	0.13	0.49	0.0	0.0	0.02	0.41	0.51	KIDS
CNMD	0.06		0.71	-0.5	0.57	0.0	0.0	0.29	-0.18	0.17	CNMD
LIVN	0.16	0.71		-0.35	0.71	0.0	0.0	-0.18	0.17	0.31	LIVN
FNA	0.13	-0.5	-0.35		-0.09	0.0	0.0	-0.29	0.55	0.42	FNA
OFIX	0.49	0.57	0.71	-0.09		0.0	0.0	-0.23	0.55	0.58	OFIX
NUVA	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	NUVA
HSKA	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	HSKA
BRKR	0.02	0.29	-0.18	-0.29	-0.23	0.0	0.0		-0.51	0.03	BRKR
NVRO	0.41	-0.18	0.17	0.55	0.55	0.0	0.0	-0.51		0.65	NVRO
ITGR	0.51	0.17	0.31	0.42	0.58	0.0	0.0	0.03	0.65		ITGR
	KIDS	CNMD	LIVN	FNA	OFIX	NUVA	HSKA	BRKR	NVRO	ITGR

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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

LIVN	+ 0.71	CNMD
OFIX	+ 0.71	LIVN
ITGR	+ 0.65	NVRO
ITGR	+ 0.58	OFIX
OFIX	+ 0.57	CNMD
NVRO	+ 0.55	FNA

High negative correlations

NVRO	- 0.51	BRKR
FNA	- 0.5	CNMD
FNA	- 0.35	LIVN
BRKR	- 0.29	FNA
BRKR	- 0.23	OFIX
BRKR	- 0.18	LIVN

Risk-Adjusted Indicators

There is a big difference between Glaukos Stock performing well and Glaukos Corp 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 Glaukos Corp'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
KIDS	2.15	(0.04)	0.00	(0.03)	0.00	0.00	3.80	(5.29)	14.60
CNMD	1.76	(0.21)	0.00	(0.21)	0.00	0.00	3.50	(3.93)	13.79
LIVN	1.26	(0.12)	0.00	(0.17)	0.00	0.00	2.87	(2.62)	8.24
FNA	2.57	1.02	0.43	(2.40)	1.49	(3.32)	5.00	(3.54)	43.16
OFIX	1.32	(0.06)	0.00	(0.08)	0.00	0.00	2.73	(3.15)	8.72
NUVA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HSKA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRKR	2.16	(0.18)	0.00	(0.45)	0.00	0.00	5.22	(4.20)	18.62
NVRO	3.75	0.31	0.07	0.13	4.15	(5.08)	11.06	(8.15)	30.68
ITGR	1.00	0.04	0.03	0.06	1.18	(1.05)	1.88	(1.86)	5.79

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