Icad Correlations

ICAD Stock

USD 1.54 0.01 0.65%

The current 90-days correlation between icad inc and STRATA Skin Sciences is 0.24 (i.e., Modest diversification). The correlation of Icad 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.

Icad Correlation With Market

Modest diversification

The correlation between icad inc and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding icad inc 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 icad inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Icad Stock

0.63	MD	Mednax Inc	Pair Corr
0.72	ECOR	Electrocore LLC	Pair Corr

Moving against Icad Stock

0.5	CI	Cigna Corp	Pair Corr
0.47	ELAB	Elevai Labs, Common	Pair Corr
0.46	EKSO	Ekso Bionics Holdings	Pair Corr
0.36	VERO	Venus Concept	Pair Corr
0.56	AHG	Akso Health Group	Pair Corr
0.46	AGL	agilon health	Pair Corr
0.45	BAX	Baxter International	Pair Corr
0.41	ALC	Alcon AG	Pair Corr
0.4	AMN	AMN Healthcare Services	Pair Corr
0.4	FONR	Fonar	Pair Corr

Related Correlations Analysis

	PROF	SIBN	SGHT	NVRO	FNA	SSKN	SIEN	AXGN	AIMD	LNSR
PROF		0.65	0.25	0.39	0.48	0.22	-0.15	-0.49	0.63	-0.1	PROF
SIBN	0.65		0.57	0.73	0.24	0.34	-0.39	-0.03	0.51	-0.4	SIBN
SGHT	0.25	0.57		0.67	-0.28	0.03	-0.92	0.19	0.59	-0.91	SGHT
NVRO	0.39	0.73	0.67		-0.15	0.25	-0.47	0.32	0.44	-0.56	NVRO
FNA	0.48	0.24	-0.28	-0.15		0.35	0.34	-0.53	0.01	0.43	FNA
SSKN	0.22	0.34	0.03	0.25	0.35		0.1	-0.2	0.23	0.18	SSKN
SIEN	-0.15	-0.39	-0.92	-0.47	0.34	0.1		-0.11	-0.57	0.92	SIEN
AXGN	-0.49	-0.03	0.19	0.32	-0.53	-0.2	-0.11		-0.42	-0.29	AXGN
AIMD	0.63	0.51	0.59	0.44	0.01	0.23	-0.57	-0.42		-0.46	AIMD
LNSR	-0.1	-0.4	-0.91	-0.56	0.43	0.18	0.92	-0.29	-0.46		LNSR
	PROF	SIBN	SGHT	NVRO	FNA	SSKN	SIEN	AXGN	AIMD	LNSR

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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

LNSR	+ 0.92	SIEN
NVRO	+ 0.73	SIBN
NVRO	+ 0.67	SGHT
SIBN	+ 0.65	PROF
AIMD	+ 0.63	PROF
AIMD	+ 0.59	SGHT

High negative correlations

SIEN	- 0.92	SGHT
LNSR	- 0.91	SGHT
AIMD	- 0.57	SIEN
LNSR	- 0.56	NVRO
AXGN	- 0.53	FNA
AXGN	- 0.49	PROF

Risk-Adjusted Indicators

There is a big difference between Icad Stock performing well and Icad 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 Icad'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
PROF	2.13	(0.37)	0.00	(0.57)	0.00	0.00	4.26	(3.53)	18.74
SIBN	2.98	(0.44)	0.00	(0.11)	0.00	0.00	6.75	(4.54)	27.00
SGHT	3.06	(1.05)	0.00	(0.22)	0.00	0.00	6.96	(7.84)	18.22
NVRO	3.75	(0.46)	0.00	(0.10)	0.00	0.00	8.28	(7.61)	25.58
FNA	3.85	0.27	0.11	0.19	4.04	(4.41)	7.83	(6.30)	43.16
SSKN	3.08	0.22	0.05	0.39	3.83	(3.29)	8.83	(7.20)	20.44
SIEN	7.84	1.35	0.19	0.44	7.64	(10.30)	25.49	(15.62)	59.73
AXGN	2.25	(0.05)	(0.01)	0.06	3.80	(2.21)	4.73	(5.50)	21.60
AIMD	3.71	(0.57)	0.00	(0.29)	0.00	0.00	8.16	(7.69)	28.01
LNSR	3.48	0.81	0.17	1.29	3.84	(3.94)	8.92	(5.53)	23.28

Icad Corporate Management

Jonathan Go	Sr. VP of RandD	Profile
Eric Lonnqvist	Chief Officer	Profile
Annette Heroux	Vice Administration	Profile
Stephen Sarno	Interim Officer	Profile
Michelle Strong	Chief Officer	Profile
Brian Testa	Chief Officer	Profile

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