Nexalin Technology Correlations

NXL Stock

USD 3.82 0.08 2.05%

The current 90-days correlation between Nexalin Technology and Ainos Inc is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nexalin Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nexalin Technology moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nexalin Technology Correlation With Market

Average diversification

The correlation between Nexalin Technology and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexalin Technology 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 Nexalin Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

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

Moving together with Nexalin Stock

0.71	DOCS	Doximity	Pair Corr
0.78	FOXO	FOXO Technologies	Pair Corr
0.65	VMD	Viemed Healthcare	Pair Corr
0.66	ITGR	Integer Holdings Corp	Pair Corr
0.71	MMSI	Merit Medical Systems	Pair Corr
0.78	NXGL	Nexgel Inc	Pair Corr
0.68	OMIC	Singular Genomics Systems	Pair Corr
0.68	CRVL	CorVel Corp Normal Trading	Pair Corr
0.61	EWTX	Edgewise Therapeutics	Pair Corr
0.94	EXEL	Exelixis	Pair Corr
0.81	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr

Moving against Nexalin Stock

0.89	EVH	Evolent Health	Pair Corr
0.86	AGL	agilon health	Pair Corr
0.86	PHG	Koninklijke Philips	Pair Corr
0.78	AMN	AMN Healthcare Services	Pair Corr
0.62	FORA	Forian Inc	Pair Corr
0.51	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.5	FIGS	Figs Inc	Pair Corr
0.39	DH	Definitive Healthcare	Pair Corr
0.38	IVP	Inspire Veterinary	Pair Corr
0.88	ME	23Andme Holding	Pair Corr
0.73	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.71	ADUS	Addus HomeCare	Pair Corr
0.64	VALN	Valneva SE ADR	Pair Corr
0.56	DOMH	Dominari Holdings	Pair Corr
0.55	ATPC	Agape ATP	Pair Corr
0.45	CYRX	Cryoport	Pair Corr
0.39	BACK	IMAC Holdings	Pair Corr
0.91	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.88	LLY	Eli Lilly	Pair Corr
0.88	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.87	HLN	Haleon plc	Pair Corr
0.82	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.61	EXAS	EXACT Sciences Sell-off Trend	Pair Corr
0.35	TIL	Instil Bio	Pair Corr

Related Correlations Analysis

	AIMDW	ELMD	ARMM	SRDX	BJDX	INVO	MOTS	IRIX	AZYO	AIMD
AIMDW		-0.43	0.0	0.49	0.42	-0.38	0.44	0.58	-0.24	0.28	AIMDW
ELMD	-0.43		0.0	-0.54	-0.9	0.01	-0.81	-0.66	0.6	-0.73	ELMD
ARMM	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ARMM
SRDX	0.49	-0.54	0.0		0.68	-0.09	0.61	0.75	-0.49	0.43	SRDX
BJDX	0.42	-0.9	0.0	0.68		0.0	0.78	0.68	-0.74	0.77	BJDX
INVO	-0.38	0.01	0.0	-0.09	0.0		-0.12	-0.04	0.02	0.17	INVO
MOTS	0.44	-0.81	0.0	0.61	0.78	-0.12		0.64	-0.51	0.54	MOTS
IRIX	0.58	-0.66	0.0	0.75	0.68	-0.04	0.64		-0.42	0.49	IRIX
AZYO	-0.24	0.6	0.0	-0.49	-0.74	0.02	-0.51	-0.42		-0.51	AZYO
AIMD	0.28	-0.73	0.0	0.43	0.77	0.17	0.54	0.49	-0.51		AIMD
	AIMDW	ELMD	ARMM	SRDX	BJDX	INVO	MOTS	IRIX	AZYO	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

MOTS	+ 0.78	BJDX
AIMD	+ 0.77	BJDX
IRIX	+ 0.75	SRDX
BJDX	+ 0.68	SRDX
IRIX	+ 0.68	BJDX
IRIX	+ 0.64	MOTS

High negative correlations

BJDX	- 0.9	ELMD
MOTS	- 0.81	ELMD
AZYO	- 0.74	BJDX
AIMD	- 0.73	ELMD
IRIX	- 0.66	ELMD
SRDX	- 0.54	ELMD

Risk-Adjusted Indicators

There is a big difference between Nexalin Stock performing well and Nexalin Technology 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 Nexalin Technology'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
AIMDW	23.13	5.11	0.16	(2.75)	19.46	(40.64)	76.79	(41.86)	283.46
ELMD	2.57	0.92	0.31	1.11	2.16	(3.10)	6.65	(4.47)	13.47
ARMM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SRDX	0.48	(0.07)	0.00	(0.13)	0.00	0.00	1.26	(1.01)	3.22
BJDX	6.60	(1.24)	0.00	(7.86)	0.00	0.00	13.03	(13.14)	120.52
INVO	4.97	0.75	0.06	(0.11)	4.69	(8.22)	6.67	(6.85)	105.62
MOTS	3.80	(0.40)	0.00	(0.11)	0.00	0.00	9.09	(5.63)	56.89
IRIX	2.53	(0.19)	0.00	(0.17)	0.00	0.00	4.76	(5.33)	40.39
AZYO	3.96	0.64	0.13	3.54	3.84	(5.00)	8.44	(7.23)	30.62
AIMD	3.71	(0.57)	0.00	(0.29)	0.00	0.00	8.16	(7.69)	28.01

Nexalin Technology Corporate Management

Marilyn Elson	Chief Officer	Profile
Joel Bradus	Director Marketing	Profile
Carolyn Shelton	Regulatory Quality	Profile
David MD	Chief Director	Profile
Michael Nketiah	Regulatory Quality	Profile

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