Pro Dex Correlations

PDEX Stock

USD 38.45 0.85 2.16%

The current 90-days correlation between Pro Dex and Sharps Technology is -0.01 (i.e., Good diversification). The correlation of Pro Dex 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.

Pro Dex Correlation With Market

Poor diversification

The correlation between Pro Dex and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Dex and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Pro Stock

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

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

Moving together with Pro Stock

0.63	QIPT	Quipt Home Medical Earnings Call This Week	Pair Corr
0.69	VMD	Viemed Healthcare	Pair Corr
0.65	PRN	Profound Medical Corp	Pair Corr
0.79	AFW	Align Technology	Pair Corr

Moving against Pro Stock

0.73	IVF	INVO Fertility Symbol Change	Pair Corr
0.66	OTC	Ocumetics Technology Corp	Pair Corr
0.65	IHC	Inspiration Healthcare	Pair Corr
0.62	AHC	Austco Healthcare	Pair Corr
0.47	AHG	Akso Health Group	Pair Corr
0.36	IMDX	Insight Molecular Symbol Change	Pair Corr
0.72	TNONW	Tenon Medical Warrant	Pair Corr
0.72	NGMD	NuGen Medical Devices	Pair Corr
0.48	MODD	Modular Medical	Pair Corr
0.38	NVNO	enVVeno Medical Corp	Pair Corr

Related Correlations Analysis

	STSS	SERA	MBOT	LUCD	CGTX	APYX	GLSI	TVGN	IXHL	RPID
STSS		-0.21	0.17	-0.34	0.69	-0.22	-0.7	0.91	0.06	-0.14	STSS
SERA	-0.21		0.35	0.15	0.19	-0.24	0.01	-0.02	0.5	-0.15	SERA
MBOT	0.17	0.35		-0.22	0.67	-0.17	-0.38	0.29	0.77	-0.22	MBOT
LUCD	-0.34	0.15	-0.22		-0.51	-0.1	0.67	-0.35	-0.31	-0.05	LUCD
CGTX	0.69	0.19	0.67	-0.51		-0.17	-0.75	0.75	0.66	-0.19	CGTX
APYX	-0.22	-0.24	-0.17	-0.1	-0.17		0.1	-0.36	-0.3	0.79	APYX
GLSI	-0.7	0.01	-0.38	0.67	-0.75	0.1		-0.77	-0.35	0.07	GLSI
TVGN	0.91	-0.02	0.29	-0.35	0.75	-0.36	-0.77		0.23	-0.28	TVGN
IXHL	0.06	0.5	0.77	-0.31	0.66	-0.3	-0.35	0.23		-0.35	IXHL
RPID	-0.14	-0.15	-0.22	-0.05	-0.19	0.79	0.07	-0.28	-0.35		RPID
	STSS	SERA	MBOT	LUCD	CGTX	APYX	GLSI	TVGN	IXHL	RPID

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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

TVGN	+ 0.91	STSS
RPID	+ 0.79	APYX
IXHL	+ 0.77	MBOT
TVGN	+ 0.75	CGTX
CGTX	+ 0.69	STSS
CGTX	+ 0.67	MBOT

High negative correlations

TVGN	- 0.77	GLSI
GLSI	- 0.75	CGTX
GLSI	- 0.7	STSS
CGTX	- 0.51	LUCD
GLSI	- 0.38	MBOT
TVGN	- 0.36	APYX

Risk-Adjusted Indicators

There is a big difference between Pro Stock performing well and Pro Dex 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 Pro Dex'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
STSS	5.90	(1.48)	0.00	(0.63)	0.00	0.00	10.34	(14.88)	39.53
SERA	3.77	(0.48)	0.00	(0.19)	0.00	0.00	6.97	(9.66)	27.30
MBOT	3.29	(0.24)	0.00	(1.14)	0.00	0.00	5.68	(6.61)	30.11
LUCD	2.54	0.02	0.00	0.06	2.93	(3.16)	5.31	(4.92)	18.00
CGTX	4.02	(0.84)	0.00	(0.30)	0.00	0.00	8.89	(8.55)	25.11
APYX	3.09	0.45	0.13	0.59	3.07	(3.76)	8.27	(5.46)	25.09
GLSI	6.34	1.78	0.26	0.91	5.90	(7.31)	19.77	(11.54)	36.51
TVGN	4.72	(1.15)	0.00	(0.41)	0.00	0.00	10.00	(8.89)	26.81
IXHL	3.85	(0.60)	0.00	(0.20)	0.00	0.00	10.00	(7.50)	23.38
RPID	4.67	0.47	0.10	0.61	4.24	(6.21)	12.73	(6.58)	31.73

Pro Dex Corporate Executives

Elected by the shareholders, the Pro Dex's board of directors comprises two types of representatives: Pro Dex inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Pro. The board's role is to monitor Pro Dex's management team and ensure that shareholders' interests are well served. Pro Dex's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Pro Dex's outside directors are responsible for providing unbiased perspectives on the board's policies.

Alisha Charlton

CFO Secretary

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