Outset Medical Correlations

OM Stock

USD 5.11 0.29 5.37%

The current 90-days correlation between Outset Medical and Helius Medical Technologies is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Outset Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Outset Medical moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Outset Medical Correlation With Market

Very good diversification

The correlation between Outset Medical and DJI is -0.41 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Outset Medical and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Outset Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Outset Medical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

To learn how to invest in Outset Stock, please use our How to Invest in Outset Medical guide.

Moving together with Outset Stock

0.67	NYXH	Nyxoah	Pair Corr
0.65	OSUR	OraSure Technologies	Pair Corr
0.92	STIM	Neuronetics	Pair Corr
0.77	STI	Solidion Technology Upward Rally	Pair Corr

Moving against Outset Stock

0.93	HAE	Haemonetics	Pair Corr
0.77	KRMD	Repro Med Systems	Pair Corr
0.75	LIVN	LivaNova PLC	Pair Corr
0.67	DHR	Danaher Earnings Call This Week	Pair Corr
0.54	UFPT	UFP Technologies	Pair Corr
0.91	PHI	PLDT Inc ADR	Pair Corr
0.82	AIZ	Assurant	Pair Corr
0.77	IDYA	Ideaya Biosciences	Pair Corr
0.74	LMND	Lemonade	Pair Corr
0.71	KEYS	Keysight Technologies	Pair Corr
0.68	FCAP	First Capital	Pair Corr
0.64	HLT	Hilton Worldwide Holdings	Pair Corr
0.62	KAEPY	Kansai Electric Power Earnings Call This Week	Pair Corr
0.62	FSLY	Fastly Class A	Pair Corr
0.57	KGC	Kinross Gold Aggressive Push	Pair Corr
0.55	MNHVF	Mowi ASA	Pair Corr
0.45	BIMT	Bitmis Corp	Pair Corr
0.44	USAS	Americas Silver Corp Trending	Pair Corr
0.41	FCTI	Fact Inc	Pair Corr
0.39	AEM	Agnico Eagle Mines	Pair Corr
0.35	MGDDY	Compagnie Generale des	Pair Corr

Related Correlations Analysis

	SNWV	HSDT	NNOX	INGN	QTRX	CATX	VMD	OMI	TNYA	SI
SNWV		-0.17	0.17	0.05	0.04	-0.51	-0.24	-0.1	0.08	0.33	SNWV
HSDT	-0.17		0.5	0.33	-0.55	0.15	-0.62	0.83	0.86	-0.49	HSDT
NNOX	0.17	0.5		0.15	0.15	-0.04	-0.28	0.16	0.67	0.1	NNOX
INGN	0.05	0.33	0.15		-0.51	-0.04	-0.36	0.39	0.26	-0.56	INGN
QTRX	0.04	-0.55	0.15	-0.51		0.13	0.68	-0.81	-0.36	0.69	QTRX
CATX	-0.51	0.15	-0.04	-0.04	0.13		0.51	-0.05	-0.1	0.14	CATX
VMD	-0.24	-0.62	-0.28	-0.36	0.68	0.51		-0.72	-0.71	0.51	VMD
OMI	-0.1	0.83	0.16	0.39	-0.81	-0.05	-0.72		0.7	-0.68	OMI
TNYA	0.08	0.86	0.67	0.26	-0.36	-0.1	-0.71	0.7		-0.28	TNYA
SI	0.33	-0.49	0.1	-0.56	0.69	0.14	0.51	-0.68	-0.28		SI
	SNWV	HSDT	NNOX	INGN	QTRX	CATX	VMD	OMI	TNYA	SI

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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

TNYA	+ 0.86	HSDT
OMI	+ 0.83	HSDT
TNYA	+ 0.7	OMI
SI	+ 0.69	QTRX
VMD	+ 0.68	QTRX
TNYA	+ 0.67	NNOX

High negative correlations

OMI	- 0.81	QTRX
OMI	- 0.72	VMD
TNYA	- 0.71	VMD
SI	- 0.68	OMI
VMD	- 0.62	HSDT
SI	- 0.56	INGN

Risk-Adjusted Indicators

There is a big difference between Outset Stock performing well and Outset Medical 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 Outset Medical'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	2.46	(0.22)	0.00	(0.13)	0.00	0.00	3.94	(5.25)	26.31
HSDT	5.74	(0.98)	0.00	(0.38)	0.00	0.00	11.52	(11.78)	27.63
NNOX	3.46	(0.34)	0.00	(0.16)	0.00	0.00	9.44	(6.06)	36.87
INGN	1.94	(0.60)	0.00	(1.03)	0.00	0.00	2.91	(3.89)	19.47
QTRX	3.43	0.21	0.07	0.19	3.49	(4.35)	8.16	(5.66)	32.49
CATX	3.86	(0.20)	0.00	(0.15)	0.00	0.00	6.25	(7.83)	26.95
VMD	1.39	0.05	0.02	0.14	1.60	(1.60)	3.15	(2.79)	8.29
OMI	3.88	(1.00)	0.00	(0.42)	0.00	0.00	6.88	(13.10)	27.99
TNYA	4.65	(1.45)	0.00	(0.35)	0.00	0.00	9.02	(11.04)	51.79
SI	2.85	0.30	0.12	0.24	2.72	(3.52)	6.14	(4.78)	39.05

Outset Medical Corporate Management

Laura Romike	Executive Marketing	Profile
Jennifer Sipple	Senior Experience	Profile
Stacey Porter	Chief Officer	Profile
Mark MS	Chief Officer	Profile
Steven Williamson	Chief Officer	Profile
Marc Nash	Operations RD	Profile

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