Heart Test Correlations

HSCS Stock

USD 2.76 0.09 3.37%

The current 90-days correlation between Heart Test Laboratories and Tivic Health Systems is -0.07 (i.e., Good diversification). The correlation of Heart Test 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.

Heart Test Correlation With Market

Modest diversification

The correlation between Heart Test Laboratories and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heart Test Laboratories 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 Heart Test Laboratories. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Heart Stock

0.7	FIGS	Figs Inc	Pair Corr
0.61	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.68	PHG	Koninklijke Philips	Pair Corr
0.73	A	Agilent Technologies	Pair Corr

Moving against Heart Stock

0.5	VEEV	Veeva Systems Class	Pair Corr
0.45	ENOV	Enovis Corp	Pair Corr
0.4	FOXO	FOXO Technologies	Pair Corr
0.33	ITGR	Integer Holdings Corp	Pair Corr
0.61	NXGL	Nexgel Inc	Pair Corr
0.44	MMSI	Merit Medical Systems	Pair Corr
0.33	VCNX	Vaccinex	Pair Corr
0.55	EXEL	Exelixis	Pair Corr
0.53	ERAS	Erasca Inc	Pair Corr
0.35	KTTAW	Pasithea Therapeutics	Pair Corr

Related Correlations Analysis

	TIVC	TLIS	BJDX	NUWE	NURO	RSLS	IINN	OPGN	BBLG	INVO
TIVC		-0.05	0.3	0.24	-0.49	0.44	-0.44	0.13	-0.38	0.34	TIVC
TLIS	-0.05		0.72	-0.4	0.14	0.48	-0.28	0.55	0.42	-0.51	TLIS
BJDX	0.3	0.72		-0.38	-0.35	0.8	-0.66	0.54	0.13	-0.03	BJDX
NUWE	0.24	-0.4	-0.38		-0.02	-0.34	0.38	0.02	-0.1	0.21	NUWE
NURO	-0.49	0.14	-0.35	-0.02		-0.37	0.55	0.14	0.36	-0.37	NURO
RSLS	0.44	0.48	0.8	-0.34	-0.37		-0.81	0.32	-0.24	0.19	RSLS
IINN	-0.44	-0.28	-0.66	0.38	0.55	-0.81		-0.19	0.38	-0.25	IINN
OPGN	0.13	0.55	0.54	0.02	0.14	0.32	-0.19		0.16	0.11	OPGN
BBLG	-0.38	0.42	0.13	-0.1	0.36	-0.24	0.38	0.16		-0.41	BBLG
INVO	0.34	-0.51	-0.03	0.21	-0.37	0.19	-0.25	0.11	-0.41		INVO
	TIVC	TLIS	BJDX	NUWE	NURO	RSLS	IINN	OPGN	BBLG	INVO

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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

RSLS	+ 0.8	BJDX
BJDX	+ 0.72	TLIS
OPGN	+ 0.55	TLIS
IINN	+ 0.55	NURO
OPGN	+ 0.54	BJDX
RSLS	+ 0.48	TLIS

High negative correlations

IINN	- 0.81	RSLS
IINN	- 0.66	BJDX
INVO	- 0.51	TLIS
NURO	- 0.49	TIVC
IINN	- 0.44	TIVC
INVO	- 0.41	BBLG

Risk-Adjusted Indicators

There is a big difference between Heart Stock performing well and Heart Test 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 Heart Test'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
TIVC	4.75	(0.24)	0.00	(0.25)	0.00	0.00	12.12	(6.90)	79.31
TLIS	4.85	(1.96)	0.00	(3.30)	0.00	0.00	5.32	(10.69)	68.77
BJDX	6.50	(1.07)	0.00	(16.22)	0.00	0.00	13.03	(13.14)	120.52
NUWE	10.55	1.13	0.05	(0.29)	12.07	(13.25)	25.66	(25.00)	141.14
NURO	2.67	0.32	0.05	(1.35)	2.94	(3.05)	6.09	(4.75)	15.39
RSLS	4.86	(0.65)	0.00	(2.30)	0.00	0.00	7.93	(10.12)	42.57
IINN	2.25	0.24	0.09	0.37	2.18	(3.02)	5.74	(3.57)	15.46
OPGN	3.84	(0.73)	0.00	4.59	0.00	0.00	7.05	(12.02)	39.12
BBLG	9.17	0.80	0.09	0.62	8.80	(14.72)	18.13	(17.14)	163.17
INVO	4.97	0.50	0.05	(0.47)	4.69	(8.22)	6.67	(6.85)	105.62

Heart Test Corporate Executives

Elected by the shareholders, the Heart Test's board of directors comprises two types of representatives: Heart Test inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Heart. The board's role is to monitor Heart Test's management team and ensure that shareholders' interests are well served. Heart Test's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Heart Test's outside directors are responsible for providing unbiased perspectives on the board's policies.

Mark Hilz

Secretary COO

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