908 Devices Correlations

MASS Stock

USD 5.48 0.39 7.66%

The current 90-days correlation between 908 Devices and Senseonics Holdings Common is 0.09 (i.e., Significant diversification). The correlation of 908 Devices 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.

908 Devices Correlation With Market

Modest diversification

The correlation between 908 Devices 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 908 Devices and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with 908 Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in 908 Devices. 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 information on how to buy 908 Stock please use our How to Invest in 908 Devices guide.

Moving together with 908 Stock

0.95	OM	Outset Medical	Pair Corr
0.65	KNTK	Kinetik Holdings Sell-off Trend	Pair Corr
0.71	GOOD	Gladstone Commercial	Pair Corr
0.64	PG	Procter Gamble	Pair Corr
0.89	HPQ	HP Inc	Pair Corr

Moving against 908 Stock

0.87	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.87	CSCO	Cisco Systems	Pair Corr
0.84	MRLWF	Marlowe Plc	Pair Corr
0.8	FTV	Fortive Corp	Pair Corr
0.8	JNJ	Johnson Johnson	Pair Corr
0.78	TRV	The Travelers Companies	Pair Corr
0.77	DHR	Danaher	Pair Corr
0.76	KO	Coca Cola	Pair Corr
0.71	CAT	Caterpillar	Pair Corr
0.69	BAC	Bank of America	Pair Corr
0.68	AXP	American Express	Pair Corr
0.67	AA	Alcoa Corp	Pair Corr
0.65	MMSI	Merit Medical Systems	Pair Corr
0.56	AMPH	Amphastar P	Pair Corr
0.52	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.51	JPM	JPMorgan Chase	Pair Corr
0.5	MMM	3M Company	Pair Corr
0.43	ISRMF	iShares MSCI	Pair Corr

Related Correlations Analysis

	SENS	CVRX	QTRX	SGHT	SNWV	CERS	CAPR	ACRS	NNOX	NPCE
SENS		0.13	-0.26	-0.8	0.39	-0.36	-0.31	-0.67	0.51	-0.65	SENS
CVRX	0.13		-0.39	-0.36	-0.09	-0.69	-0.73	-0.41	0.54	-0.49	CVRX
QTRX	-0.26	-0.39		0.67	0.07	0.77	0.67	0.74	0.1	0.8	QTRX
SGHT	-0.8	-0.36	0.67		-0.2	0.74	0.65	0.91	-0.46	0.92	SGHT
SNWV	0.39	-0.09	0.07	-0.2		-0.06	-0.25	-0.35	0.35	-0.05	SNWV
CERS	-0.36	-0.69	0.77	0.74	-0.06		0.89	0.8	-0.39	0.82	CERS
CAPR	-0.31	-0.73	0.67	0.65	-0.25	0.89		0.78	-0.51	0.7	CAPR
ACRS	-0.67	-0.41	0.74	0.91	-0.35	0.8	0.78		-0.44	0.86	ACRS
NNOX	0.51	0.54	0.1	-0.46	0.35	-0.39	-0.51	-0.44		-0.33	NNOX
NPCE	-0.65	-0.49	0.8	0.92	-0.05	0.82	0.7	0.86	-0.33		NPCE
	SENS	CVRX	QTRX	SGHT	SNWV	CERS	CAPR	ACRS	NNOX	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

NPCE	+ 0.92	SGHT
ACRS	+ 0.91	SGHT
CAPR	+ 0.89	CERS
NPCE	+ 0.86	ACRS
NPCE	+ 0.82	CERS
NPCE	+ 0.8	QTRX

High negative correlations

SGHT	- 0.8	SENS
CAPR	- 0.73	CVRX
CERS	- 0.69	CVRX
ACRS	- 0.67	SENS
NPCE	- 0.65	SENS
NNOX	- 0.51	CAPR

Risk-Adjusted Indicators

There is a big difference between 908 Stock performing well and 908 Devices 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 908 Devices' 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
SENS	3.98	(0.63)	0.00	(0.14)	0.00	0.00	6.70	(8.01)	39.02
CVRX	2.30	(0.25)	0.00	(0.09)	0.00	0.00	4.35	(4.23)	18.59
QTRX	2.85	0.22	0.09	0.18	2.60	(3.67)	7.61	(4.89)	17.58
SGHT	3.92	1.15	0.39	0.39	2.60	(5.45)	10.73	(5.33)	44.62
SNWV	3.15	(0.31)	0.00	(0.47)	0.00	0.00	5.82	(7.75)	30.64
CERS	3.36	0.29	0.09	0.18	3.68	(4.02)	7.46	(6.43)	30.94
CAPR	12.41	5.00	0.91	0.59	4.29	(16.91)	11.97	(7.92)	386.29
ACRS	4.03	0.66	0.16	0.50	3.99	(4.66)	8.84	(7.32)	26.60
NNOX	3.88	(0.37)	0.00	(0.13)	0.00	0.00	9.44	(6.06)	36.87
NPCE	3.02	0.57	0.25	0.28	2.14	(3.82)	6.30	(4.61)	43.20

908 Devices Corporate Management

JD Esq	Chief Secretary	Profile
Trent Basarsky	VP Devel	Profile
Kevin Knopp	CEO, CoFounder	Profile
Mark JD	Chief Officer	Profile
Joseph IV	CFO Treasurer	Profile

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