Penumbra Correlations

PEN Stock

USD 309.42 1.49 0.48%

The current 90-days correlation between Penumbra and Globus Medical is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Penumbra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Penumbra moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Penumbra Correlation With Market

Average diversification

The correlation between Penumbra and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Penumbra and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Penumbra Stock

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

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

Moving together with Penumbra Stock

0.67	DHR	Danaher	Pair Corr
0.7	AMPH	Amphastar P	Pair Corr
0.8	FTV	Fortive Corp	Pair Corr
0.62	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.64	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr
0.66	AA	Alcoa Corp	Pair Corr
0.69	PFE	Pfizer Inc Sell-off Trend	Pair Corr
0.62	CSCO	Cisco Systems	Pair Corr
0.81	TRV	The Travelers Companies	Pair Corr

Moving against Penumbra Stock

0.76	OM	Outset Medical	Pair Corr
0.72	HPQ	HP Inc	Pair Corr
0.57	PG	Procter Gamble	Pair Corr
0.52	BSX	Boston Scientific Corp	Pair Corr
0.33	GOOD	Gladstone Commercial	Pair Corr
0.32	KNTK	Kinetik Holdings Sell-off Trend	Pair Corr

Related Correlations Analysis

	GMED	BIO	ALGN	HQY	HIMS	DVA	CRL	HSIC	BAX
GMED		-0.06	0.66	0.44	-0.74	-0.74	0.33	0.91	-0.71	GMED
BIO	-0.06		-0.19	0.41	0.11	0.4	0.08	-0.21	0.25	BIO
ALGN	0.66	-0.19		-0.02	-0.73	-0.54	0.57	0.7	-0.43	ALGN
HQY	0.44	0.41	-0.02		-0.43	-0.1	-0.38	0.26	-0.44	HQY
HIMS	-0.74	0.11	-0.73	-0.43		0.62	-0.18	-0.69	0.74	HIMS
DVA	-0.74	0.4	-0.54	-0.1	0.62		-0.36	-0.78	0.76	DVA
CRL	0.33	0.08	0.57	-0.38	-0.18	-0.36		0.44	0.08	CRL
HSIC	0.91	-0.21	0.7	0.26	-0.69	-0.78	0.44		-0.72	HSIC
BAX	-0.71	0.25	-0.43	-0.44	0.74	0.76	0.08	-0.72		BAX
	GMED	BIO	ALGN	HQY	HIMS	DVA	CRL	HSIC	BAX

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

HSIC	+ 0.91	GMED
BAX	+ 0.76	DVA
BAX	+ 0.74	HIMS
HSIC	+ 0.7	ALGN
ALGN	+ 0.66	GMED
DVA	+ 0.62	HIMS

High negative correlations

HSIC	- 0.78	DVA
DVA	- 0.74	GMED
HIMS	- 0.74	GMED
HIMS	- 0.73	ALGN
BAX	- 0.72	HSIC
BAX	- 0.71	GMED

Risk-Adjusted Indicators

There is a big difference between Penumbra Stock performing well and Penumbra 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 Penumbra'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
GMED	1.99	0.82	0.50	(0.84)	0.85	(3.00)	3.63	(2.02)	38.40
BIO	1.47	0.13	0.04	0.95	1.56	(1.87)	4.31	(2.90)	8.48
ALGN	1.44	0.23	0.17	0.22	1.29	(1.66)	3.51	(2.32)	9.66
HQY	1.36	0.11	0.01	(0.40)	1.47	(1.58)	2.99	(2.63)	9.98
HIMS	3.23	(0.75)	0.00	(0.40)	0.00	0.00	5.86	(7.38)	32.02
DVA	1.04	(0.24)	0.00	(0.91)	0.00	0.00	1.75	(2.40)	8.36
CRL	1.60	0.32	0.14	1.99	1.56	(2.01)	3.43	(3.02)	8.89
HSIC	1.13	0.32	0.19	(2.72)	0.98	(1.39)	2.28	(1.97)	13.49
BAX	1.55	(0.24)	0.00	(0.36)	0.00	0.00	2.82	(2.54)	17.76

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