Helius Medical Correlations

HSDT Stock

USD 0.64 0.07 12.28%

The current 90-days correlation between Helius Medical Techn and Nuwellis is -0.04 (i.e., Good diversification). The correlation of Helius Medical 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.

Helius Medical Correlation With Market

Average diversification

The correlation between Helius Medical Technologies and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Helius Medical Technologies 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 Helius Medical Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Helius Stock

0.67	ECOR	Electrocore LLC	Pair Corr
0.65	VVOS	Vivos Therapeutics	Pair Corr

Moving against Helius Stock

0.59	MODD	Modular Medical	Pair Corr
0.43	NAOV	NanoVibronix	Pair Corr
0.42	NAYA	NAYA Biosciences, Symbol Change	Pair Corr
0.38	NXLIW	Nexalin Technology	Pair Corr
0.38	VREX	Varex Imaging Corp Earnings Call This Week	Pair Corr
0.57	NXL	Nexalin Technology Buyout Trend	Pair Corr
0.56	XAIR	Beyond Air	Pair Corr
0.53	BVS	Bioventus	Pair Corr
0.4	OFIX	Orthofix Medical	Pair Corr
0.34	STE	STERIS plc Earnings Call This Week	Pair Corr
0.33	NUWE	Nuwellis Buyout Trend	Pair Corr
0.32	SNN	Smith Nephew SNATS	Pair Corr

Related Correlations Analysis

	NUWE	RSLS	BBLG	SINT	TIVC	TLIS	BJDX	HSCS	VVOS
NUWE		0.49	0.47	-0.45	0.38	0.0	0.29	-0.54	-0.67	NUWE
RSLS	0.49		0.61	0.17	0.12	0.0	-0.01	-0.53	-0.65	RSLS
BBLG	0.47	0.61		0.01	-0.02	0.0	0.26	-0.43	-0.72	BBLG
SINT	-0.45	0.17	0.01		-0.25	0.0	-0.31	0.12	0.08	SINT
TIVC	0.38	0.12	-0.02	-0.25		0.0	0.12	-0.21	-0.17	TIVC
TLIS	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	TLIS
BJDX	0.29	-0.01	0.26	-0.31	0.12	0.0		0.19	-0.19	BJDX
HSCS	-0.54	-0.53	-0.43	0.12	-0.21	0.0	0.19		0.7	HSCS
VVOS	-0.67	-0.65	-0.72	0.08	-0.17	0.0	-0.19	0.7		VVOS
	NUWE	RSLS	BBLG	SINT	TIVC	TLIS	BJDX	HSCS	VVOS

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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

VVOS	+ 0.7	HSCS
BBLG	+ 0.61	RSLS
RSLS	+ 0.49	NUWE
BBLG	+ 0.47	NUWE
TIVC	+ 0.38	NUWE
BJDX	+ 0.29	NUWE

High negative correlations

VVOS	- 0.72	BBLG
VVOS	- 0.67	NUWE
VVOS	- 0.65	RSLS
HSCS	- 0.54	NUWE
HSCS	- 0.53	RSLS
SINT	- 0.45	NUWE

Risk-Adjusted Indicators

There is a big difference between Helius Stock performing well and Helius Medical 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 Helius Medical'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
NUWE	5.13	(0.92)	0.00	1.15	0.00	0.00	10.62	(12.50)	38.26
RSLS	3.47	(0.58)	0.00	0.85	0.00	0.00	5.79	(8.01)	29.64
BBLG	3.70	(0.39)	0.00	(0.25)	0.00	0.00	9.32	(8.18)	21.45
SINT	6.43	0.66	0.06	(1.03)	7.32	(8.32)	15.59	(11.90)	84.59
TIVC	7.01	0.11	0.03	0.13	6.64	(11.44)	12.12	(9.68)	82.47
TLIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BJDX	9.65	1.55	0.10	(1.69)	11.37	(10.39)	19.21	(16.37)	120.57
HSCS	3.36	0.38	0.09	0.59	3.55	(4.05)	7.12	(5.40)	39.74
VVOS	4.35	0.59	0.14	0.36	4.40	(5.26)	10.55	(7.35)	27.59

Helius Medical Corporate Management

Brian Bapty	VP of Strategy and Bus. Devel.	Profile
CPA CPA	Treasurer, CFO	Profile
Lawrence Picciano	Quality Engineering	Profile
Antonella MD	Chief Officer	Profile

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