NanoString Technologies Correlations
| NSTGDelisted Stock | USD 4.11 0.22 5.08% |
The current 90-days correlation between NanoString Technologies and Syros Pharmaceuticals is 0.12 (i.e., Average diversification). The correlation of NanoString Technologies 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.
NanoString Technologies Correlation With Market
Significant diversification
The correlation between NanoString Technologies and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NanoString Technologies and DJI in the same portfolio, assuming nothing else is changed.
NanoString |
Moving together with NanoString Stock
| 0.72 | PTAIY | Astra International Tbk | PairCorr |
| 0.97 | PKX | POSCO Holdings Earnings Call This Week | PairCorr |
| 0.84 | PHJMF | PT Hanjaya Mandala | PairCorr |
Moving against NanoString Stock
| 0.93 | PLTR | Palantir Technologies Aggressive Push | PairCorr |
| 0.92 | UAL | United Airlines Holdings Earnings Call Tomorrow | PairCorr |
| 0.89 | AAL | American Airlines Earnings Call This Week | PairCorr |
| 0.87 | WMT | Walmart | PairCorr |
| 0.82 | WSM | Williams Sonoma | PairCorr |
| 0.81 | SOUN | SoundHound AI | PairCorr |
| 0.8 | QBTS | D Wave Quantum | PairCorr |
| 0.79 | KODK | Eastman Kodak | PairCorr |
| 0.78 | OPFI | OppFi Inc | PairCorr |
| 0.66 | MCK | McKesson | PairCorr |
| 0.65 | MOGO | Mogo Inc | PairCorr |
| 0.63 | MITQ | Moving iMage Technologies | PairCorr |
| 0.54 | PAGP | Plains GP Holdings Sell-off Trend | PairCorr |
| 0.41 | ITCI | Intracellular Th Trending | PairCorr |
| 0.34 | SVCO | Silvaco Group, Common | PairCorr |
| 0.94 | TSLA | Tesla Inc Aggressive Push | PairCorr |
| 0.93 | TATT | Tat Techno | PairCorr |
| 0.91 | CLS | Celestica | PairCorr |
| 0.9 | FSK | FS KKR Capital | PairCorr |
| 0.9 | FWONK | Liberty Media | PairCorr |
| 0.89 | ZVIA | Zevia Pbc | PairCorr |
| 0.89 | ACHR | Archer Aviation | PairCorr |
| 0.85 | RNMBF | Rheinmetall AG | PairCorr |
| 0.84 | AROC | Archrock | PairCorr |
| 0.82 | GOOGL | Alphabet Class A | PairCorr |
Related Correlations Analysis
| -0.8 | 0.48 | -0.63 | -0.08 | VCYT | ||
| -0.8 | -0.33 | 0.82 | 0.51 | SYRS | ||
| 0.48 | -0.33 | -0.25 | 0.19 | MCRB | ||
| -0.63 | 0.82 | -0.25 | 0.51 | IOVA | ||
| -0.08 | 0.51 | 0.19 | 0.51 | TXG | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between NanoString Stock performing well and NanoString Technologies 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 NanoString Technologies' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VCYT | 2.16 | 0.29 | 0.09 | 0.52 | 2.60 | 4.23 | 13.06 | |||
| SYRS | 8.36 | (1.12) | 0.00 | (0.68) | 0.00 | 19.05 | 110.57 | |||
| MCRB | 4.19 | (0.01) | 0.00 | 0.01 | 4.26 | 10.00 | 28.84 | |||
| IOVA | 3.25 | (0.68) | 0.00 | (2.65) | 0.00 | 7.18 | 22.30 | |||
| TXG | 2.70 | (0.08) | 0.00 | (0.11) | 0.00 | 5.49 | 16.51 |
NanoString Technologies Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with NanoString Technologies stock to make a market-neutral strategy. Peer analysis of NanoString Technologies could also be used in its relative valuation, which is a method of valuing NanoString Technologies by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
NanoString Technologies Corporate Management
| Todd Garland | Chief Officer | Profile | |
| Joseph Beechem | Chief Development | Profile | |
| Mark Winham | Senior Operations | Profile | |
| Thomas MBA | Chief Officer | Profile | |
| Elizabeth Schneider | Senior Manager | Profile | |
| Kathryn SuraceSmith | Senior Secretary | Profile |
Still Interested in NanoString Technologies?
Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.