OneMedNet Corp Correlations

ONMDW Stock

0.11 0.0004 0.36%

The correlation of OneMedNet Corp 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.

OneMedNet Corp Correlation With Market

Good diversification

The correlation between OneMedNet Corp and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OneMedNet Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with OneMedNet Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OneMedNet Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

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

Moving against OneMedNet Stock

0.38	AJ91	DocCheck AG	Pair Corr
0.34	FDBK	Feedback PLC	Pair Corr
0.47	ALC	Alcidion Group Earnings Call This Week	Pair Corr
0.41	APTOF	DMD Digital Health	Pair Corr

Related Correlations Analysis

	BFRG	TNON	SNSE	EVGN	TRAW	IMNN	BOLT	AEON	XAIR	CING
BFRG		0.83	-0.2	0.46	-0.05	0.68	-0.11	-0.48	-0.26	-0.81	BFRG
TNON	0.83		-0.31	0.27	0.14	0.81	0.08	-0.57	-0.01	-0.91	TNON
SNSE	-0.2	-0.31		-0.18	-0.23	-0.38	-0.45	0.44	-0.04	0.32	SNSE
EVGN	0.46	0.27	-0.18		0.14	0.34	0.06	-0.2	0.02	-0.17	EVGN
TRAW	-0.05	0.14	-0.23	0.14		0.2	0.34	-0.33	0.58	0.03	TRAW
IMNN	0.68	0.81	-0.38	0.34	0.2		0.13	-0.59	-0.02	-0.77	IMNN
BOLT	-0.11	0.08	-0.45	0.06	0.34	0.13		0.15	0.48	0.07	BOLT
AEON	-0.48	-0.57	0.44	-0.2	-0.33	-0.59	0.15		0.13	0.59	AEON
XAIR	-0.26	-0.01	-0.04	0.02	0.58	-0.02	0.48	0.13		0.19	XAIR
CING	-0.81	-0.91	0.32	-0.17	0.03	-0.77	0.07	0.59	0.19		CING
	BFRG	TNON	SNSE	EVGN	TRAW	IMNN	BOLT	AEON	XAIR	CING

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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

TNON	+ 0.83	BFRG
IMNN	+ 0.81	TNON
IMNN	+ 0.68	BFRG
CING	+ 0.59	AEON
XAIR	+ 0.58	TRAW
XAIR	+ 0.48	BOLT

High negative correlations

CING	- 0.91	TNON
CING	- 0.81	BFRG
CING	- 0.77	IMNN
AEON	- 0.59	IMNN
AEON	- 0.57	TNON
AEON	- 0.48	BFRG

Risk-Adjusted Indicators

There is a big difference between OneMedNet Stock performing well and OneMedNet Corp 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 OneMedNet Corp'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
BFRG	5.06	(0.79)	0.00	(0.65)	0.00	0.00	14.00	(9.62)	27.69
TNON	3.13	(0.50)	0.00	(0.21)	0.00	0.00	5.61	(6.09)	32.51
SNSE	9.16	3.70	0.72	3.69	3.85	(13.49)	20.57	(7.95)	190.11
EVGN	2.83	(0.58)	0.00	(0.74)	0.00	0.00	3.77	(7.34)	24.89
TRAW	6.79	(0.48)	0.00	8.29	0.00	0.00	17.44	(12.90)	48.86
IMNN	2.76	(0.22)	0.00	(9.85)	0.00	0.00	6.74	(4.83)	21.83
BOLT	3.27	0.18	0.04	0.48	3.96	(3.60)	8.24	(6.86)	18.32
AEON	4.59	1.02	0.15	(0.54)	4.63	(5.74)	13.33	(8.54)	33.74
XAIR	7.48	0.64	0.10	1.38	5.72	(14.09)	14.46	(9.88)	163.02
CING	3.89	0.96	0.20	(3.48)	3.84	(4.38)	8.45	(6.53)	24.88

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