Intuitive Surgical Correlations

ISRG Stock

USD 491.57 5.73 1.18%

The current 90-days correlation between Intuitive Surgical and ResMed Inc is 0.38 (i.e., Weak diversification). The correlation of Intuitive Surgical 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.

Intuitive Surgical Correlation With Market

Very good diversification

The correlation between Intuitive Surgical and DJI is -0.49 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intuitive Surgical and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Intuitive Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Intuitive Surgical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For more detail on how to invest in Intuitive Stock please use our How to Invest in Intuitive Surgical guide.

Moving together with Intuitive Stock

0.75	IL3	Integra LifeSciences	Pair Corr
0.71	49Z	Cellink AB Earnings Call Tomorrow	Pair Corr
0.85	EW	Edwards Lifesciences Corp	Pair Corr
0.7	56S1	Sartorius Stedim Biotech	Pair Corr
0.86	IPD	Impedimed Earnings Call This Week	Pair Corr
0.8	VVOS	Vivos Therapeutics	Pair Corr
0.61	EMBC	Embecta Corp	Pair Corr
0.71	XEJ	Accuray Incorporated	Pair Corr
0.84	ENOV	Enovis Corp	Pair Corr

Moving against Intuitive Stock

0.75	HYB	HOYA	Pair Corr
0.67	VREX	Varex Imaging Corp	Pair Corr
0.67	EDAP	EDAP TMS SA	Pair Corr
0.6	EKSO	Ekso Bionics Holdings Upward Rally	Pair Corr
0.48	SKAN	SKAN Group AG	Pair Corr
0.47	DXCM	DexCom Inc	Pair Corr
0.43	ECOR	Electrocore LLC Upward Rally	Pair Corr
0.86	DRW8	Drgerwerk AG	Pair Corr
0.69	BDX	Becton Dickinson	Pair Corr
0.58	AVR	Anteris Technologies	Pair Corr
0.54	BB1	Blinklab	Pair Corr
0.51	BAX	Baxter International	Pair Corr
0.36	QIPT	Quipt Home Medical	Pair Corr

Related Correlations Analysis

	RGEN	RMD	MMSI	ICUI	BNGO	LUCY	STXS	NXGL	EMBC	BAX
RGEN		-0.32	0.51	0.21	0.83	0.38	0.63	0.32	0.31	-0.25	RGEN
RMD	-0.32		-0.57	0.57	-0.41	-0.18	-0.06	-0.38	-0.36	0.66	RMD
MMSI	0.51	-0.57		-0.22	0.55	0.36	0.26	0.58	0.51	-0.3	MMSI
ICUI	0.21	0.57	-0.22		-0.13	-0.23	0.31	-0.4	-0.44	0.68	ICUI
BNGO	0.83	-0.41	0.55	-0.13		0.63	0.62	0.64	0.51	-0.58	BNGO
LUCY	0.38	-0.18	0.36	-0.23	0.63		0.5	0.63	0.73	-0.46	LUCY
STXS	0.63	-0.06	0.26	0.31	0.62	0.5		0.57	0.33	-0.16	STXS
NXGL	0.32	-0.38	0.58	-0.4	0.64	0.63	0.57		0.7	-0.52	NXGL
EMBC	0.31	-0.36	0.51	-0.44	0.51	0.73	0.33	0.7		-0.54	EMBC
BAX	-0.25	0.66	-0.3	0.68	-0.58	-0.46	-0.16	-0.52	-0.54		BAX
	RGEN	RMD	MMSI	ICUI	BNGO	LUCY	STXS	NXGL	EMBC	BAX

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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

BNGO	+ 0.83	RGEN
EMBC	+ 0.73	LUCY
EMBC	+ 0.7	NXGL
BAX	+ 0.68	ICUI
BAX	+ 0.66	RMD
NXGL	+ 0.64	BNGO

High negative correlations

BAX	- 0.58	BNGO
MMSI	- 0.57	RMD
BAX	- 0.54	EMBC
BAX	- 0.52	NXGL
BAX	- 0.46	LUCY
EMBC	- 0.44	ICUI

Risk-Adjusted Indicators

There is a big difference between Intuitive Stock performing well and Intuitive Surgical 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 Intuitive Surgical'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
RGEN	1.74	(0.18)	0.00	(0.05)	0.00	0.00	3.10	(4.41)	10.20
RMD	1.22	(0.03)	(0.02)	0.03	1.77	(1.15)	2.41	(2.91)	9.75
MMSI	1.33	(0.16)	0.00	(0.14)	0.00	0.00	3.44	(2.64)	11.35
ICUI	1.51	(0.01)	0.01	0.05	1.59	(1.86)	4.36	(2.90)	9.83
BNGO	2.61	(0.65)	0.00	(0.26)	0.00	0.00	4.61	(5.56)	21.29
LUCY	5.40	(0.33)	0.00	(0.05)	0.00	0.00	14.00	(9.83)	57.39
STXS	2.76	(0.53)	0.00	(0.33)	0.00	0.00	4.69	(6.43)	16.89
NXGL	4.13	(0.89)	0.00	(0.35)	0.00	0.00	12.42	(9.24)	35.89
EMBC	2.15	(0.48)	0.00	(0.27)	0.00	0.00	4.03	(7.20)	16.06
BAX	1.84	0.11	0.04	0.13	3.25	(1.89)	3.52	(3.63)	21.61

Intuitive Surgical Corporate Management

David Rosa	Chief Commercial Officer and Executive VP	Profile
CFA CFA	VP Relations	Profile
Mark Brosius	Senior Officer	Profile
Milind Wagle	Chief Officer	Profile
Gary Loeb	G Officer	Profile
Robert DeSantis	Executive Officer	Profile
Philip Kim	Head Relations	Profile

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