Lucid Diagnostics Correlations

LUCD Stock

USD 1.44 0.03 2.04%

The current 90-days correlation between Lucid Diagnostics and Rapid Micro Biosystems is 0.02 (i.e., Significant diversification). The correlation of Lucid Diagnostics 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.

Lucid Diagnostics Correlation With Market

Poor diversification

The correlation between Lucid Diagnostics and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lucid Diagnostics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Lucid Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Lucid Diagnostics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For information on how to trade Lucid Stock refer to our How to Trade Lucid Stock guide.

Moving together with Lucid Stock

0.85	HYB	HOYA	Pair Corr
0.72	DXCM	DexCom Inc	Pair Corr
0.65	VREX	Varex Imaging Corp	Pair Corr
0.64	ECOR	Electrocore LLC	Pair Corr
0.79	EDAP	EDAP TMS SA	Pair Corr
0.75	61R	GROUPE EUROMEDIS	Pair Corr
0.75	EKSO	Ekso Bionics Holdings	Pair Corr

Moving against Lucid Stock

0.76	IPD	Impedimed	Pair Corr
0.68	SI	Shoulder Innovations	Pair Corr
0.61	56S1	Sartorius Stedim Biotech	Pair Corr
0.6	56S0	RENAUUNSPARD 15 EO	Pair Corr
0.57	VNRX	Volitionrx	Pair Corr
0.51	IL3	Integra LifeSciences	Pair Corr
0.5	DYNT	Dynatronics	Pair Corr
0.44	EW	Edwards Lifesciences Corp	Pair Corr
0.41	VERO	Venus Concept	Pair Corr
0.4	49Z	Cellink AB	Pair Corr
0.82	OTC	Ocumetics Technology Corp	Pair Corr
0.75	GXI	Gerresheimer AG Earnings Call This Week	Pair Corr
0.75	OC5	Cochlear Limited	Pair Corr
0.7	VVOS	Vivos Therapeutics	Pair Corr
0.7	ELAB	Elevai Labs Common	Pair Corr
0.57	ELMD	Electromed	Pair Corr
0.54	BA3	Brooks Automation	Pair Corr
0.46	VTAK	Catheter Precision	Pair Corr
0.8	EUDA	EUDA Health Holdings	Pair Corr
0.78	XEJ	Accuray Incorporated	Pair Corr
0.72	2DR	Inspire Medical Systems	Pair Corr
0.65	MM3	Merit Medical Systems	Pair Corr
0.65	FEMY	Femasys	Pair Corr
0.64	ENOV	Enovis Corp	Pair Corr

Related Correlations Analysis

	RPID	APYX	RCEL	IRD	STSS	AVR	SEER	OWLT	IXHL	SCLX
RPID		0.55	0.66	0.45	0.06	0.37	0.31	-0.6	-0.49	-0.17	RPID
APYX	0.55		0.06	-0.07	0.21	-0.05	-0.07	-0.29	0.04	0.13	APYX
RCEL	0.66	0.06		0.77	-0.42	0.7	0.48	-0.64	-0.82	-0.61	RCEL
IRD	0.45	-0.07	0.77		-0.58	0.64	0.42	-0.7	-0.79	-0.67	IRD
STSS	0.06	0.21	-0.42	-0.58		-0.68	-0.03	0.43	0.56	0.87	STSS
AVR	0.37	-0.05	0.7	0.64	-0.68		0.08	-0.35	-0.56	-0.82	AVR
SEER	0.31	-0.07	0.48	0.42	-0.03	0.08		-0.37	-0.35	-0.14	SEER
OWLT	-0.6	-0.29	-0.64	-0.7	0.43	-0.35	-0.37		0.71	0.42	OWLT
IXHL	-0.49	0.04	-0.82	-0.79	0.56	-0.56	-0.35	0.71		0.67	IXHL
SCLX	-0.17	0.13	-0.61	-0.67	0.87	-0.82	-0.14	0.42	0.67		SCLX
	RPID	APYX	RCEL	IRD	STSS	AVR	SEER	OWLT	IXHL	SCLX

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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

SCLX	+ 0.87	STSS
IRD	+ 0.77	RCEL
IXHL	+ 0.71	OWLT
AVR	+ 0.7	RCEL
SCLX	+ 0.67	IXHL
RCEL	+ 0.66	RPID

High negative correlations

SCLX	- 0.82	AVR
IXHL	- 0.82	RCEL
IXHL	- 0.79	IRD
OWLT	- 0.7	IRD
AVR	- 0.68	STSS
SCLX	- 0.67	IRD

Risk-Adjusted Indicators

There is a big difference between Lucid Stock performing well and Lucid Diagnostics 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 Lucid Diagnostics' 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
RPID	4.13	0.15	0.03	0.30	4.29	(4.91)	9.41	(6.25)	31.73
APYX	2.59	(0.33)	0.00	(0.25)	0.00	0.00	5.15	(5.56)	24.47
RCEL	2.86	0.45	0.14	0.81	2.52	(3.63)	9.36	(4.00)	19.95
IRD	4.21	1.30	0.26	6.12	3.89	(4.69)	12.29	(6.10)	22.40
STSS	5.53	(0.64)	0.00	(0.21)	0.00	0.00	10.45	(14.88)	39.53
AVR	3.69	0.98	0.25	1.35	3.18	(4.44)	9.42	(5.99)	25.09
SEER	1.79	(0.23)	0.00	(0.23)	0.00	0.00	4.04	(2.76)	12.26
OWLT	3.50	0.00	(0.01)	0.08	4.79	(3.56)	6.20	(8.09)	23.31
IXHL	4.44	(1.11)	0.00	(0.32)	0.00	0.00	10.33	(8.98)	57.17
SCLX	3.14	(1.60)	0.00	(0.69)	0.00	0.00	7.28	(8.20)	20.69

Lucid Diagnostics Corporate Management

Lishan MD	Chairman CEO	Profile
Joseph MD	Strategic Cofounder	Profile
Deepika Lakhani	Chief Officer	Profile
Michael Gordon	General Secretary	Profile
Michael Parks	Vice Relations	Profile
Adrian Miller	VP Relations	Profile
Amitabh MD	Strategic Cofounder	Profile

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