Heart Test Correlations

HSCS Stock

USD 3.08 0.06 1.91%

The current 90-days correlation between Heart Test Laboratories and PAVmed Inc is 0.25 (i.e., Modest 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

Average diversification

The correlation between Heart Test Laboratories and DJI is 0.19 (i.e., Average 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.

Build AI portfolio with Heart Stock

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 manufacturing.

Moving together with Heart Stock

0.74	OM	Outset Medical	Pair Corr
0.7	GOOD	Gladstone Commercial	Pair Corr
0.64	T	ATT Inc	Pair Corr

Moving against Heart Stock

0.83	MRLWF	Marlowe Plc	Pair Corr
0.78	AXP	American Express	Pair Corr
0.77	CAT	Caterpillar	Pair Corr
0.76	KO	Coca Cola	Pair Corr
0.76	CSCO	Cisco Systems	Pair Corr
0.72	FTV	Fortive Corp	Pair Corr
0.68	JNJ	Johnson Johnson	Pair Corr
0.68	BAC	Bank of America	Pair Corr
0.64	DHR	Danaher	Pair Corr
0.61	MMSI	Merit Medical Systems	Pair Corr
0.59	MMM	3M Company	Pair Corr
0.58	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.56	TRV	The Travelers Companies	Pair Corr
0.53	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.47	AA	Alcoa Corp	Pair Corr
0.41	AMPH	Amphastar P	Pair Corr
0.36	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr

Related Correlations Analysis

	PAVM	SSKN	MTNB	BCLI	GBS	AMIX	IBO	MYNZ	BMRA	NRSN
PAVM		0.8	0.89	0.74	0.0	0.86	0.65	0.74	0.7	0.8	PAVM
SSKN	0.8		0.89	0.75	0.0	0.72	0.71	0.8	0.72	0.65	SSKN
MTNB	0.89	0.89		0.83	0.0	0.78	0.8	0.9	0.76	0.71	MTNB
BCLI	0.74	0.75	0.83		0.0	0.77	0.6	0.8	0.61	0.71	BCLI
GBS	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	GBS
AMIX	0.86	0.72	0.78	0.77	0.0		0.47	0.62	0.52	0.91	AMIX
IBO	0.65	0.71	0.8	0.6	0.0	0.47		0.81	0.79	0.37	IBO
MYNZ	0.74	0.8	0.9	0.8	0.0	0.62	0.81		0.8	0.56	MYNZ
BMRA	0.7	0.72	0.76	0.61	0.0	0.52	0.79	0.8		0.41	BMRA
NRSN	0.8	0.65	0.71	0.71	0.0	0.91	0.37	0.56	0.41		NRSN
	PAVM	SSKN	MTNB	BCLI	GBS	AMIX	IBO	MYNZ	BMRA	NRSN

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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

NRSN	+ 0.91	AMIX
MYNZ	+ 0.9	MTNB
MTNB	+ 0.89	PAVM
MTNB	+ 0.89	SSKN
AMIX	+ 0.86	PAVM
BCLI	+ 0.83	MTNB

High negative correlations

NRSN	- 0.0	GBS
BMRA	- 0.0	GBS
MYNZ	- 0.0	GBS
IBO	- 0.0	GBS
AMIX	- 0.0	GBS
GBS	- 0.0	BCLI

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PAVM	4.94	(0.84)	(0.34)	10.48	(9.52)	36.71
SSKN	4.94	(0.66)	(0.16)	10.29	(9.95)	53.99
MTNB	4.71	(1.44)	(2.59)	7.60	(10.14)	39.32
BCLI	3.57	(0.27)	(0.52)	9.09	(6.67)	24.01
GBS	0.00	0.00	0.00	0.00	0.00	0.00
AMIX	5.17	(0.58)	0.46	8.33	(11.93)	74.93
IBO	3.44	(0.13)	(0.46)	6.82	(7.41)	61.57
MYNZ	4.09	(0.30)	(0.13)	8.55	(6.67)	21.62
BMRA	2.70	(0.20)	(0.04)	4.70	(4.98)	18.44
NRSN	3.94	(0.45)	(0.39)	8.74	(7.37)	34.62

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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