Spectral Correlations

MDAI Stock

1.42 0.04 2.90%

The current 90-days correlation between Spectral AI and Icecure Medical is 0.32 (i.e., Weak diversification). The correlation of Spectral 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.

Spectral Correlation With Market

Weak diversification

The correlation between Spectral AI and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spectral AI and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Spectral Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Spectral AI. 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 Spectral Stock

0.72	300061	QITIAN Technology	Pair Corr
0.71	600055	Beijing Wandong Medical	Pair Corr
0.94	OM	Outset Medical	Pair Corr
0.64	688677	Qingdao NovelBeam	Pair Corr
0.91	VERO	Venus Concept	Pair Corr
0.7	IPD	Impedimed	Pair Corr
0.82	VNRX	Volitionrx	Pair Corr
0.72	VTAK	Catheter Precision	Pair Corr
0.9	VVOS	Vivos Therapeutics	Pair Corr
0.84	OTC	Ocumetics Technology Corp	Pair Corr
0.73	ELAB	Elevai Labs, Common	Pair Corr
0.74	ENOV	Enovis Corp	Pair Corr
0.83	POLX	Polarean Imaging Plc	Pair Corr

Moving against Spectral Stock

0.91	EW	Edwards Lifesciences Corp	Pair Corr
0.84	SPEC	Inspecs Group plc	Pair Corr
0.75	688656	HOB Biotech Group	Pair Corr
0.67	ELMD	Electromed	Pair Corr
0.63	BLCO	Bausch Lomb Corp	Pair Corr
0.42	EDAP	EDAP TMS SA	Pair Corr
0.91	ESTA	Establishment Labs	Pair Corr
0.82	FIGS	Figs Inc	Pair Corr
0.75	BB1	Blinklab	Pair Corr
0.69	ALC	Alcon AG	Pair Corr
0.67	688198	Beijing Balance Medical	Pair Corr
0.59	FEMY	Femasys	Pair Corr

Related Correlations Analysis

	ICCM	TELA	CTSO	SRTS	EQ	COEP	IPSC	TELO	ECOR	KPTI
ICCM		0.86	0.88	-0.61	0.48	0.42	-0.35	0.47	0.06	-0.08	ICCM
TELA	0.86		0.88	-0.81	0.61	0.19	-0.25	0.62	-0.02	-0.02	TELA
CTSO	0.88	0.88		-0.67	0.46	0.46	-0.31	0.5	-0.02	-0.16	CTSO
SRTS	-0.61	-0.81	-0.67		-0.77	-0.05	0.01	-0.55	0.32	-0.22	SRTS
EQ	0.48	0.61	0.46	-0.77		-0.08	0.38	0.49	-0.19	0.52	EQ
COEP	0.42	0.19	0.46	-0.05	-0.08		-0.33	-0.07	-0.3	-0.11	COEP
IPSC	-0.35	-0.25	-0.31	0.01	0.38	-0.33		-0.01	-0.27	0.74	IPSC
TELO	0.47	0.62	0.5	-0.55	0.49	-0.07	-0.01		0.01	0.03	TELO
ECOR	0.06	-0.02	-0.02	0.32	-0.19	-0.3	-0.27	0.01		-0.46	ECOR
KPTI	-0.08	-0.02	-0.16	-0.22	0.52	-0.11	0.74	0.03	-0.46		KPTI
	ICCM	TELA	CTSO	SRTS	EQ	COEP	IPSC	TELO	ECOR	KPTI

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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

CTSO	+ 0.88	ICCM
CTSO	+ 0.88	TELA
TELA	+ 0.86	ICCM
KPTI	+ 0.74	IPSC
TELO	+ 0.62	TELA
EQ	+ 0.61	TELA

High negative correlations

SRTS	- 0.81	TELA
EQ	- 0.77	SRTS
SRTS	- 0.67	CTSO
SRTS	- 0.61	ICCM
TELO	- 0.55	SRTS
KPTI	- 0.46	ECOR

Risk-Adjusted Indicators

There is a big difference between Spectral Stock performing well and Spectral 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 Spectral'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
ICCM	2.40	(0.80)	0.00	(0.68)	0.00	0.00	4.35	(5.33)	13.54
TELA	2.70	(0.33)	0.00	(4.36)	0.00	0.00	4.42	(6.98)	22.47
CTSO	3.57	(0.50)	0.00	(0.45)	0.00	0.00	7.58	(7.41)	29.40
SRTS	2.84	0.25	0.10	0.22	2.47	(3.81)	7.14	(4.06)	26.96
EQ	5.84	0.23	0.05	0.16	5.46	(9.14)	19.26	(11.76)	35.57
COEP	2.89	(0.25)	0.00	(0.25)	0.00	0.00	5.91	(5.66)	22.14
IPSC	3.85	1.06	0.19	0.69	4.33	(5.02)	9.80	(5.77)	27.66
TELO	3.85	(0.01)	0.01	0.05	4.99	(4.07)	5.73	(8.33)	41.27
ECOR	2.79	(0.11)	0.00	(0.01)	0.00	0.00	5.26	(5.78)	30.74
KPTI	3.30	0.15	0.05	0.15	3.77	(3.45)	8.24	(5.76)	16.03

Spectral Corporate Management

Stan Micek	Interim Officer	Profile
Jeffrey Thatcher	Chief Scientist	Profile
Vincent Capone	General Secretary	Profile
Christine Marks	Vice Commercialization	Profile
Louis Percoco	General Manager	Profile

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