Precision Optics Correlations

POCI Stock

4.21 0.02 0.47%

The current 90-days correlation between Precision Optics and Milestone Scientific is -0.01 (i.e., Good diversification). The correlation of Precision Optics 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.

Precision Optics Correlation With Market

Average diversification

The correlation between Precision Optics and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Precision Optics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Precision Stock

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

For more detail on how to invest in Precision Stock please use our How to Invest in Precision Optics guide.

Moving against Precision Stock

0.46	KNTK	Kinetik Holdings	Pair Corr
0.41	VMD	Viemed Healthcare	Pair Corr
0.33	WMT	Walmart Common Stock	Pair Corr
0.31	SLMNP	A Schulman	Pair Corr

Related Correlations Analysis

	MLSS	MYO	IGC	NXGL	RVP	MODD	APUS	MIRA	HBIO	NTRB
MLSS		0.61	0.71	0.86	0.85	0.81	-0.14	-0.04	-0.8	0.9	MLSS
MYO	0.61		0.35	0.44	0.58	0.31	-0.52	0.12	-0.47	0.55	MYO
IGC	0.71	0.35		0.82	0.61	0.73	0.06	-0.05	-0.73	0.74	IGC
NXGL	0.86	0.44	0.82		0.82	0.86	-0.05	0.09	-0.89	0.92	NXGL
RVP	0.85	0.58	0.61	0.82		0.78	-0.22	0.02	-0.82	0.87	RVP
MODD	0.81	0.31	0.73	0.86	0.78		0.14	-0.08	-0.85	0.89	MODD
APUS	-0.14	-0.52	0.06	-0.05	-0.22	0.14		-0.08	0.15	-0.1	APUS
MIRA	-0.04	0.12	-0.05	0.09	0.02	-0.08	-0.08		-0.01	0.04	MIRA
HBIO	-0.8	-0.47	-0.73	-0.89	-0.82	-0.85	0.15	-0.01		-0.91	HBIO
NTRB	0.9	0.55	0.74	0.92	0.87	0.89	-0.1	0.04	-0.91		NTRB
	MLSS	MYO	IGC	NXGL	RVP	MODD	APUS	MIRA	HBIO	NTRB

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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

NTRB	+ 0.92	NXGL
NTRB	+ 0.9	MLSS
NTRB	+ 0.89	MODD
NTRB	+ 0.87	RVP
NXGL	+ 0.86	MLSS
MODD	+ 0.86	NXGL

High negative correlations

NTRB	- 0.91	HBIO
HBIO	- 0.89	NXGL
HBIO	- 0.85	MODD
HBIO	- 0.82	RVP
HBIO	- 0.8	MLSS
HBIO	- 0.73	IGC

Risk-Adjusted Indicators

There is a big difference between Precision Stock performing well and Precision Optics 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 Precision Optics' 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
MLSS	4.06	(0.73)	0.00	(0.58)	0.00	0.00	8.33	(9.52)	28.05
MYO	4.19	0.29	0.04	(5.08)	4.60	(4.90)	8.79	(6.90)	23.92
IGC	2.69	(0.57)	0.00	(0.38)	0.00	0.00	6.06	(5.71)	25.10
NXGL	4.24	(0.74)	0.00	(0.19)	0.00	0.00	12.42	(7.78)	35.89
RVP	2.10	(0.34)	0.00	(0.31)	0.00	0.00	6.52	(5.15)	19.50
MODD	4.59	(0.57)	0.00	2.87	0.00	0.00	10.42	(8.11)	45.40
APUS	6.26	0.20	0.03	0.21	7.74	(8.11)	15.05	(14.12)	53.45
MIRA	3.27	0.26	0.05	0.42	3.99	(3.51)	8.78	(6.29)	46.36
HBIO	4.93	0.84	0.15	0.56	4.73	(6.87)	12.86	(6.49)	57.46
NTRB	3.57	(1.06)	0.00	(0.67)	0.00	0.00	9.04	(7.23)	32.02

Precision Optics Corporate Management

Daniel Habhegger	CFO Sec	Profile
Donald Major	Consultant	Profile
John Hargraves	Director Operations	Profile
Jeffrey DiRubio	Executive Marketing	Profile
Richard Forkey	Advisor Founder	Profile

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