Movano Correlations

MOVE Stock

USD 3.44 0.26 8.18%

The current 90-days correlation between Movano Inc and SANUWAVE Health is 0.08 (i.e., Significant diversification). The correlation of Movano 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.

Movano Correlation With Market

Modest diversification

The correlation between Movano Inc and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Movano Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Movano Inc. 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.

Moving together with Movano Stock

0.89	CDW	CDW Corp	Pair Corr
0.62	JNPR	Juniper Networks	Pair Corr
0.7	SMCI	Super Micro Computer Trending	Pair Corr
0.8	CLFD	Clearfield	Pair Corr

Moving against Movano Stock

0.83	EHGO	Eshallgo Class A Downward Rally	Pair Corr
0.81	RGTIW	Rigetti Computing	Pair Corr
0.78	IONQ	IONQ Inc	Pair Corr
0.76	RGTI	Rigetti Computing Buyout Trend	Pair Corr
0.73	PAR	PAR Technology	Pair Corr
0.7	QUBT	Quantum Computing Trending	Pair Corr
0.67	IDN	Intellicheck Mobilisa	Pair Corr
0.63	QBTS	D Wave Quantum Buyout Trend	Pair Corr
0.58	RCAT	Red Cat Holdings Trending	Pair Corr
0.54	MSI	Motorola Solutions	Pair Corr
0.54	LITE	Lumentum Holdings	Pair Corr
0.51	ERIC	Telefonaktiebolaget Aggressive Push	Pair Corr
0.47	NTGR	NETGEAR	Pair Corr
0.43	SSYS	Stratasys	Pair Corr
0.4	ZBRA	Zebra Technologies	Pair Corr
0.37	HPQ	HP Inc	Pair Corr
0.32	NOK	Nokia Corp ADR	Pair Corr
0.31	HPE	Hewlett Packard Ente Earnings Call Tomorrow	Pair Corr
0.75	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.73	ZM	Zoom Video Communications Earnings Call Today	Pair Corr
0.69	BKTI	BK Technologies	Pair Corr
0.67	ML	MoneyLion	Pair Corr
0.64	DOCU	DocuSign	Pair Corr
0.58	AI	C3 Ai Inc Trending	Pair Corr
0.58	KD	Kyndryl Holdings Tech Boost	Pair Corr
0.57	WK	Workiva	Pair Corr
0.54	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.53	S	SentinelOne	Pair Corr
0.49	DV	DoubleVerify Holdings	Pair Corr
0.48	BL	Blackline	Pair Corr

Related Correlations Analysis

	SNWV	DYNT	LNSR	NPCE	OSA	LIVN	ELMD	KIDS	SRDX	AIMD
SNWV		-0.84	0.87	0.32	0.24	0.59	0.94	-0.74	-0.54	-0.63	SNWV
DYNT	-0.84		-0.82	-0.55	-0.38	-0.37	-0.79	0.56	0.24	0.38	DYNT
LNSR	0.87	-0.82		0.55	0.35	0.29	0.85	-0.51	-0.24	-0.47	LNSR
NPCE	0.32	-0.55	0.55		0.45	-0.21	0.35	-0.03	0.43	-0.13	NPCE
OSA	0.24	-0.38	0.35	0.45		-0.05	0.29	-0.02	0.2	-0.12	OSA
LIVN	0.59	-0.37	0.29	-0.21	-0.05		0.65	-0.76	-0.61	-0.44	LIVN
ELMD	0.94	-0.79	0.85	0.35	0.29	0.65		-0.78	-0.46	-0.72	ELMD
KIDS	-0.74	0.56	-0.51	-0.03	-0.02	-0.76	-0.78		0.54	0.56	KIDS
SRDX	-0.54	0.24	-0.24	0.43	0.2	-0.61	-0.46	0.54		0.38	SRDX
AIMD	-0.63	0.38	-0.47	-0.13	-0.12	-0.44	-0.72	0.56	0.38		AIMD
	SNWV	DYNT	LNSR	NPCE	OSA	LIVN	ELMD	KIDS	SRDX	AIMD

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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

ELMD	+ 0.94	SNWV
LNSR	+ 0.87	SNWV
ELMD	+ 0.85	LNSR
ELMD	+ 0.65	LIVN
LIVN	+ 0.59	SNWV
KIDS	+ 0.56	DYNT

High negative correlations

DYNT	- 0.84	SNWV
LNSR	- 0.82	DYNT
ELMD	- 0.79	DYNT
KIDS	- 0.78	ELMD
KIDS	- 0.76	LIVN
KIDS	- 0.74	SNWV

Risk-Adjusted Indicators

There is a big difference between Movano Stock performing well and Movano 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 Movano'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
SNWV	5.24	1.85	0.31	0.79	4.98	(6.14)	14.20	(9.71)	54.16
DYNT	5.03	(0.47)	0.00	0.35	0.00	0.00	7.50	(12.77)	69.48
LNSR	3.47	0.82	0.17	1.50	3.77	(3.94)	8.92	(5.53)	23.28
NPCE	3.51	0.32	0.14	0.25	3.00	(4.30)	9.73	(6.19)	35.38
OSA	104.70	42.41	1.97	0.63	13.81	(252.47)	51.22	(20.31)	168.97
LIVN	1.20	0.05	0.03	0.17	1.42	(1.18)	3.73	(2.55)	8.68
ELMD	2.60	0.91	0.31	0.98	2.15	(3.15)	6.65	(4.47)	13.47
KIDS	2.55	(0.32)	0.00	(0.11)	0.00	0.00	5.04	(5.08)	19.39
SRDX	0.48	(0.07)	0.00	(0.10)	0.00	0.00	1.26	(1.01)	3.22
AIMD	3.77	(0.57)	0.00	(0.22)	0.00	0.00	8.16	(7.69)	28.01

Movano Corporate Management

Phil Kelly	Senior Engineering	Profile
Tyla Bucher	Chief Officer	Profile
Michael Soule	Chief Officer	Profile
Stacy Salvi	Vice Strategy	Profile
Michael Leabman	CTO Founder	Profile

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