Icecure Medical Correlations

ICCM Stock

USD 1.36 0.01 0.73%

The current 90-days correlation between Icecure Medical and BrainsWay is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Icecure Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Icecure Medical moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Icecure Medical Correlation With Market

Significant diversification

The correlation between Icecure Medical and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icecure Medical 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 Icecure Medical. 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.

To learn how to invest in Icecure Stock, please use our How to Invest in Icecure Medical guide.

Moving together with Icecure Stock

0.64	ELMD	Electromed	Pair Corr
0.65	IRMD	Iradimed	Pair Corr
0.8	NPCE	Neuropace	Pair Corr
0.83	ANGO	AngioDynamics	Pair Corr
0.78	DRTS	Alpha Tau Medical	Pair Corr

Moving against Icecure Stock

0.91	CGC	Canopy Growth Corp	Pair Corr
0.9	PAVM	PAVmed Inc	Pair Corr
0.9	FHTX	Foghorn Therapeutics Trending	Pair Corr
0.89	FDMT	4D Molecular Therapeutics	Pair Corr
0.87	TFX	Teleflex Incorporated Earnings Call This Week	Pair Corr
0.84	EWTX	Edgewise Therapeutics Earnings Call This Week	Pair Corr
0.79	LIVN	LivaNova PLC Earnings Call This Week	Pair Corr
0.77	COO	Cooper Companies, Downward Rally	Pair Corr
0.75	ERAS	Erasca Inc	Pair Corr
0.6	DSGN	Design Therapeutics	Pair Corr
0.54	SRDX	SurModics	Pair Corr
0.53	OFIX	Orthofix Medical	Pair Corr
0.47	CRVL	CorVel Corp	Pair Corr
0.45	ICUI	ICU Medical	Pair Corr
0.94	LYEL	Lyell Immunopharma	Pair Corr
0.92	LRMR	Larimar Therapeutics	Pair Corr
0.87	GBIO	Generation Bio	Pair Corr
0.86	MRSN	Mersana Therapeutics	Pair Corr
0.85	HOOK	Hookipa Pharma	Pair Corr
0.85	KRYS	Krystal Biotech Earnings Call This Week	Pair Corr
0.84	NRIX	Nurix Therapeutics	Pair Corr
0.81	IPSC	Century Therapeutics	Pair Corr

Related Correlations Analysis

	BRSYF	OSA	SRDX	SSKN	TNON	BWAY	PETV	SINT	CTSO	NPCE
BRSYF		0.0	-0.28	-0.52	-0.76	0.08	0.0	-0.12	0.17	0.68	BRSYF
OSA	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	OSA
SRDX	-0.28	0.0		0.68	0.52	-0.64	0.0	0.39	-0.68	-0.55	SRDX
SSKN	-0.52	0.0	0.68		0.75	-0.47	0.0	0.05	-0.42	-0.68	SSKN
TNON	-0.76	0.0	0.52	0.75		-0.29	0.0	-0.01	-0.49	-0.84	TNON
BWAY	0.08	0.0	-0.64	-0.47	-0.29		0.0	-0.2	0.57	0.45	BWAY
PETV	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	PETV
SINT	-0.12	0.0	0.39	0.05	-0.01	-0.2	0.0		-0.23	-0.05	SINT
CTSO	0.17	0.0	-0.68	-0.42	-0.49	0.57	0.0	-0.23		0.48	CTSO
NPCE	0.68	0.0	-0.55	-0.68	-0.84	0.45	0.0	-0.05	0.48		NPCE
	BRSYF	OSA	SRDX	SSKN	TNON	BWAY	PETV	SINT	CTSO	NPCE

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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

TNON	+ 0.75	SSKN
NPCE	+ 0.68	BRSYF
SSKN	+ 0.68	SRDX
CTSO	+ 0.57	BWAY
TNON	+ 0.52	SRDX
NPCE	+ 0.48	CTSO

High negative correlations

NPCE	- 0.84	TNON
TNON	- 0.76	BRSYF
NPCE	- 0.68	SSKN
CTSO	- 0.68	SRDX
BWAY	- 0.64	SRDX
NPCE	- 0.55	SRDX

Risk-Adjusted Indicators

There is a big difference between Icecure Stock performing well and Icecure 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 Icecure 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
BRSYF	5.11	2.10	0.00	(0.58)	0.00	0.00	0.00	0.00	202.92
OSA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SRDX	0.85	(0.18)	0.00	(0.77)	0.00	0.00	1.67	(1.84)	9.34
SSKN	1.84	(0.15)	0.00	(0.56)	0.00	0.00	4.04	(3.91)	16.58
TNON	2.79	(1.17)	0.00	18.09	0.00	0.00	3.95	(7.39)	26.68
BWAY	2.22	0.09	0.03	0.08	3.02	(2.26)	4.88	(4.30)	13.34
PETV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SINT	5.97	0.53	0.07	0.25	7.09	(7.57)	15.59	(11.90)	84.59
CTSO	3.97	1.00	0.22	1.04	3.87	(4.75)	11.70	(5.26)	36.66
NPCE	3.52	0.86	0.24	1.24	3.00	(4.33)	7.78	(5.99)	35.79

Icecure Medical Corporate Management

Naum Muchnik	Dev Research	Profile
Eyal Shamir	CEO Director	Profile
Galit Malik	Vice Service	Profile
Shay Levav	VP Applications	Profile
Ronen CPA	CFO COO	Profile
Merav Dotan	Vice Resources	Profile
Tlalit TelTzure	Vice Marketing	Profile

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