Milestone Scientific Correlations

MLSS Stock

USD 0.29 0.02 7.41%

The current 90-days correlation between Milestone Scientific and Precision Optics is -0.15 (i.e., Good diversification). The correlation of Milestone Scientific 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.

Milestone Scientific Correlation With Market

Good diversification

The correlation between Milestone Scientific and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Milestone Scientific and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Milestone Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Milestone Scientific. 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 Milestone Stock please use our How to Invest in Milestone Scientific guide.

Moving together with Milestone Stock

0.86	OM	Outset Medical	Pair Corr
0.66	GOOD	Gladstone Commercial	Pair Corr
0.85	HPQ	HP Inc	Pair Corr

Moving against Milestone Stock

0.88	DHR	Danaher	Pair Corr
0.85	CSCO	Cisco Systems	Pair Corr
0.81	MRLWF	Marlowe Plc	Pair Corr
0.81	FTV	Fortive Corp	Pair Corr
0.81	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.78	JNJ	Johnson Johnson	Pair Corr
0.78	TRV	The Travelers Companies	Pair Corr
0.73	KO	Coca Cola	Pair Corr
0.72	AMPH	Amphastar P	Pair Corr
0.72	MMSI	Merit Medical Systems	Pair Corr
0.7	BAC	Bank of America	Pair Corr
0.69	CAT	Caterpillar	Pair Corr
0.68	AXP	American Express	Pair Corr
0.66	AA	Alcoa Corp	Pair Corr
0.59	MMM	3M Company	Pair Corr
0.51	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.5	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.49	ISRMF	iShares MSCI	Pair Corr
0.35	PFE	Pfizer Inc Sell-off Trend	Pair Corr

Related Correlations Analysis

	POCI	IGC	NXGL	MYO	RVP	MIRA	APUS	NTRB	HBIO	SABS
POCI		0.02	-0.06	-0.47	-0.11	-0.32	0.47	-0.04	0.03	0.09	POCI
IGC	0.02		0.93	0.35	0.75	-0.05	-0.08	0.91	-0.84	-0.86	IGC
NXGL	-0.06	0.93		0.39	0.8	-0.05	-0.21	0.92	-0.9	-0.86	NXGL
MYO	-0.47	0.35	0.39		0.64	0.12	-0.6	0.47	-0.39	-0.39	MYO
RVP	-0.11	0.75	0.8	0.64		-0.04	-0.28	0.85	-0.8	-0.7	RVP
MIRA	-0.32	-0.05	-0.05	0.12	-0.04		-0.18	-0.12	0.1	0.24	MIRA
APUS	0.47	-0.08	-0.21	-0.6	-0.28	-0.18		-0.22	0.23	0.25	APUS
NTRB	-0.04	0.91	0.92	0.47	0.85	-0.12	-0.22		-0.92	-0.92	NTRB
HBIO	0.03	-0.84	-0.9	-0.39	-0.8	0.1	0.23	-0.92		0.87	HBIO
SABS	0.09	-0.86	-0.86	-0.39	-0.7	0.24	0.25	-0.92	0.87		SABS
	POCI	IGC	NXGL	MYO	RVP	MIRA	APUS	NTRB	HBIO	SABS

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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

NXGL	+ 0.93	IGC
NTRB	+ 0.92	NXGL
NTRB	+ 0.91	IGC
SABS	+ 0.87	HBIO
NTRB	+ 0.85	RVP
RVP	+ 0.8	NXGL

High negative correlations

SABS	- 0.92	NTRB
HBIO	- 0.92	NTRB
HBIO	- 0.9	NXGL
SABS	- 0.86	NXGL
SABS	- 0.86	IGC
HBIO	- 0.84	IGC

Risk-Adjusted Indicators

There is a big difference between Milestone Stock performing well and Milestone Scientific 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 Milestone Scientific'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
POCI	1.82	(0.07)	(0.03)	0.00	2.27	(2.52)	3.57	(3.23)	27.89
IGC	2.69	(0.57)	0.00	(0.32)	0.00	0.00	6.06	(5.71)	25.10
NXGL	4.24	(0.51)	0.00	(0.11)	0.00	0.00	12.42	(7.78)	35.89
MYO	4.19	0.24	0.04	0.52	4.60	(4.90)	8.79	(6.90)	23.92
RVP	2.14	(0.17)	0.00	(0.13)	0.00	0.00	6.52	(5.15)	19.50
MIRA	3.27	0.30	0.06	1.18	3.99	(3.51)	8.78	(6.29)	46.36
APUS	6.17	0.57	0.03	(0.08)	7.75	(7.58)	15.05	(14.12)	53.45
NTRB	3.70	(0.62)	0.00	(1.09)	0.00	0.00	9.04	(7.23)	32.02
HBIO	4.74	0.74	0.14	0.49	4.51	(6.90)	12.86	(6.49)	57.46
SABS	3.55	1.10	0.24	(2.32)	3.20	(4.95)	11.17	(7.66)	30.33

Milestone Scientific Corporate Management

James JD	Senior Development	Profile
MS MBA	Vice Finance	Profile
Jason Papes	Senior Marketing	Profile
Andy Molnar	Senior Dental	Profile

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