ENDRA Life Correlations

NDRA Stock

USD 5.10 0.15 2.86%

The current 90-days correlation between ENDRA Life Sciences and Intelligent Bio Solutions is 0.1 (i.e., Average diversification). The correlation of ENDRA Life 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.

ENDRA Life Correlation With Market

Significant diversification

The correlation between ENDRA Life Sciences and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ENDRA Life Sciences 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 ENDRA Life Sciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with ENDRA Stock

0.85	EVH	Evolent Health	Pair Corr
0.61	MOH	Molina Healthcare Earnings Call This Week	Pair Corr
0.8	TFX	Teleflex Incorporated	Pair Corr
0.83	GCTK	GlucoTrack	Pair Corr
0.65	MASS	908 Devices	Pair Corr
0.77	ACET	Adicet Bio	Pair Corr
0.81	VALN	Valneva SE ADR	Pair Corr
0.65	ERNA	Eterna Therapeutics	Pair Corr

Moving against ENDRA Stock

0.84	HSTM	HealthStream	Pair Corr
0.66	HQY	HealthEquity	Pair Corr
0.61	LNSR	LENSAR Inc	Pair Corr
0.6	CAH	Cardinal Health	Pair Corr
0.59	HIMS	Hims Hers Health Aggressive Push	Pair Corr
0.73	TMCI	Treace Medical Concepts	Pair Corr
0.71	PRVA	Privia Health Group	Pair Corr
0.7	ATEC	Alphatec Holdings	Pair Corr
0.61	CTKB	Cytek Biosciences	Pair Corr
0.56	STRM	Streamline Health	Pair Corr
0.54	MMSI	Merit Medical Systems	Pair Corr
0.33	CERT	Certara	Pair Corr
0.33	ESPR	Esperion Therapeutics	Pair Corr
0.69	BMY	Bristol Myers Squibb Earnings Call This Week	Pair Corr
0.58	MDGL	Madrigal Pharmaceuticals	Pair Corr

Related Correlations Analysis

	BNR	STIM	DRIO	GTH	SERA	STRRP	LAB	BDSX	HTGM
BNR		0.53	-0.45	-0.34	0.13	0.36	-0.15	-0.4	-0.82	BNR
STIM	0.53		-0.35	0.17	-0.23	0.09	-0.18	-0.65	-0.7	STIM
DRIO	-0.45	-0.35		0.2	0.19	0.12	0.11	0.48	0.32	DRIO
GTH	-0.34	0.17	0.2		-0.05	-0.09	-0.08	0.15	-0.03	GTH
SERA	0.13	-0.23	0.19	-0.05		0.04	0.54	0.5	-0.27	SERA
STRRP	0.36	0.09	0.12	-0.09	0.04		-0.07	-0.06	-0.33	STRRP
LAB	-0.15	-0.18	0.11	-0.08	0.54	-0.07		0.21	-0.03	LAB
BDSX	-0.4	-0.65	0.48	0.15	0.5	-0.06	0.21		0.38	BDSX
HTGM	-0.82	-0.7	0.32	-0.03	-0.27	-0.33	-0.03	0.38		HTGM
	BNR	STIM	DRIO	GTH	SERA	STRRP	LAB	BDSX	HTGM

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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

LAB	+ 0.54	SERA
STIM	+ 0.53	BNR
BDSX	+ 0.5	SERA
BDSX	+ 0.48	DRIO
HTGM	+ 0.38	BDSX
STRRP	+ 0.36	BNR

High negative correlations

HTGM	- 0.82	BNR
HTGM	- 0.7	STIM
BDSX	- 0.65	STIM
DRIO	- 0.45	BNR
BDSX	- 0.4	BNR
DRIO	- 0.35	STIM

Risk-Adjusted Indicators

There is a big difference between ENDRA Stock performing well and ENDRA Life 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 ENDRA Life'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
BNR	4.82	1.55	0.24	10.02	4.49	(6.08)	15.95	(6.70)	46.14
STIM	6.53	2.47	0.23	(2.82)	8.10	(7.80)	18.50	(9.45)	45.79
DRIO	6.60	0.24	0.00	(0.07)	8.94	(8.49)	9.86	(12.66)	121.18
GTH	1.87	0.02	(0.02)	(2.40)	2.49	(2.24)	3.45	(4.08)	14.43
SERA	4.01	0.13	0.00	(0.10)	5.47	(4.22)	10.39	(8.66)	31.68
STRRP	1.27	0.07	(0.02)	(0.16)	1.76	(1.74)	2.86	(3.16)	9.73
LAB	4.28	(0.01)	(0.01)	0.08	5.43	(4.47)	7.11	(9.29)	40.74
BDSX	3.50	(0.53)	0.00	(19.57)	0.00	0.00	6.92	(8.87)	29.63
HTGM	9.08	(1.53)	0.00	1.96	0.00	0.00	25.00	(20.00)	65.45

ENDRA Life Corporate Management

Michael Thornton	Chief Officer	Profile
Renaud Maloberti	Chief Commercial Officer	Profile
Ziad Rouag	Head Affairs	Profile
Jonathan Behr	CoFounder	Profile
Richard Jacroux	Chief Officer	Profile

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