MaxCyte Correlations

MXCT Stock

USD 3.55 0.10 2.90%

The current 90-days correlation between MaxCyte and Sight Sciences is 0.49 (i.e., Very weak diversification). The correlation of MaxCyte 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.

MaxCyte Correlation With Market

Weak diversification

The correlation between MaxCyte and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MaxCyte 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 MaxCyte. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more information on how to buy MaxCyte Stock please use our How to Invest in MaxCyte guide.

Moving together with MaxCyte Stock

0.86	AGL	agilon health	Pair Corr
0.86	AMN	AMN Healthcare Services	Pair Corr
0.81	FORA	Forian Inc	Pair Corr
0.83	EVH	Evolent Health	Pair Corr
0.74	IVP	Inspire Veterinary	Pair Corr
0.76	ADUS	Addus HomeCare	Pair Corr
0.61	ATPC	Agape ATP	Pair Corr
0.69	BACK	IMAC Holdings	Pair Corr
0.75	CYRX	Cryoport	Pair Corr
0.7	ME	23Andme Holding	Pair Corr
0.81	VALN	Valneva SE ADR	Pair Corr

Moving against MaxCyte Stock

0.74	DOCS	Doximity	Pair Corr
0.66	VMD	Viemed Healthcare	Pair Corr
0.56	FOXO	FOXO Technologies	Pair Corr
0.51	ITGR	Integer Holdings Corp	Pair Corr
0.35	VEEV	Veeva Systems Class	Pair Corr
0.66	OMIC	Singular Genomics Systems	Pair Corr
0.53	MMSI	Merit Medical Systems	Pair Corr
0.51	NXGL	Nexgel Inc	Pair Corr
0.5	CRVL	CorVel Corp Normal Trading	Pair Corr
0.33	NXGLW	NexGel Warrant	Pair Corr
0.8	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr
0.67	EXEL	Exelixis	Pair Corr
0.66	EWTX	Edgewise Therapeutics	Pair Corr
0.55	KZR	Kezar Life Sciences	Pair Corr
0.48	VRDN	Viridian Therapeutics	Pair Corr

Related Correlations Analysis

	SGHT	CVRX	NPCE	RPID	CNMD	KIDS	SRDX	ITGR	LUNG	IRMD
SGHT		-0.82	-0.43	-0.85	0.11	0.69	0.43	-0.67	0.62	-0.75	SGHT
CVRX	-0.82		0.49	0.92	0.26	-0.31	-0.32	0.66	-0.3	0.73	CVRX
NPCE	-0.43	0.49		0.36	0.54	-0.03	0.43	0.57	-0.02	0.22	NPCE
RPID	-0.85	0.92	0.36		0.14	-0.48	-0.45	0.72	-0.32	0.84	RPID
CNMD	0.11	0.26	0.54	0.14		0.43	0.5	0.23	0.66	-0.01	CNMD
KIDS	0.69	-0.31	-0.03	-0.48	0.43		0.54	-0.44	0.49	-0.59	KIDS
SRDX	0.43	-0.32	0.43	-0.45	0.5	0.54		-0.07	0.44	-0.48	SRDX
ITGR	-0.67	0.66	0.57	0.72	0.23	-0.44	-0.07		-0.17	0.78	ITGR
LUNG	0.62	-0.3	-0.02	-0.32	0.66	0.49	0.44	-0.17		-0.24	LUNG
IRMD	-0.75	0.73	0.22	0.84	-0.01	-0.59	-0.48	0.78	-0.24		IRMD
	SGHT	CVRX	NPCE	RPID	CNMD	KIDS	SRDX	ITGR	LUNG	IRMD

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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

RPID	+ 0.92	CVRX
IRMD	+ 0.84	RPID
IRMD	+ 0.78	ITGR
IRMD	+ 0.73	CVRX
ITGR	+ 0.72	RPID
KIDS	+ 0.69	SGHT

High negative correlations

RPID	- 0.85	SGHT
CVRX	- 0.82	SGHT
IRMD	- 0.75	SGHT
ITGR	- 0.67	SGHT
IRMD	- 0.59	KIDS
IRMD	- 0.48	SRDX

Risk-Adjusted Indicators

There is a big difference between MaxCyte Stock performing well and MaxCyte 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 MaxCyte'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
SGHT	3.18	(1.03)	0.00	(0.18)	0.00	0.00	6.96	(7.84)	18.22
CVRX	4.12	0.98	0.21	1.83	3.55	(5.18)	12.31	(8.22)	41.08
NPCE	3.51	0.32	0.14	0.25	3.00	(4.30)	9.73	(6.19)	35.38
RPID	2.07	0.35	0.13	0.40	2.21	(2.64)	4.59	(2.70)	24.78
CNMD	1.88	0.03	0.02	0.15	2.27	(1.94)	4.57	(3.83)	11.47
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
ITGR	1.26	0.02	0.03	0.13	1.44	(1.32)	2.48	(2.16)	7.64
LUNG	3.27	(0.19)	(0.01)	0.03	4.10	(3.67)	9.00	(6.89)	20.52
IRMD	1.61	0.08	0.08	0.17	1.69	(1.88)	3.26	(2.53)	11.03

MaxCyte Corporate Management

James Brady	Senior Support	Profile
Stark Thompson	Consultant	Profile
Jill Mayer	Senior Resources	Profile
Cenk Sumen	Chief Officer	Profile
Douglas Doerfler	President, Founder	Profile
Jay Gelfman	Senior Operations	Profile

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