Precision Optics Correlations

POCI Stock

4.43 0.06 1.34%

The current 90-days correlation between Precision Optics and Allurion Technologies is -0.24 (i.e., Very 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

Weak diversification

The correlation between Precision Optics and DJI is 0.36 (i.e., Weak 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 services.

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

Moving against Precision Stock

0.78	IL3	Integra LifeSciences Earnings Call This Week	Pair Corr
0.7	VVOS	Vivos Therapeutics	Pair Corr
0.69	IPD	Impedimed Earnings Call This Week	Pair Corr
0.66	49Z	Cellink AB	Pair Corr
0.63	56S1	Sartorius Stedim Biotech	Pair Corr
0.62	EW	Edwards Lifesciences Corp	Pair Corr
0.61	56S0	RENAUUNSPARD 15 EO	Pair Corr
0.58	SI	Shoulder Innovations	Pair Corr
0.42	ELAB	Elevai Labs Common	Pair Corr
0.4	2CV	ConvaTec Group PLC Earnings Call This Week	Pair Corr
0.38	FIE1	FIELMANN AG ON	Pair Corr
0.32	DYNT	Dynatronics	Pair Corr
0.78	ABT	Abbott Laboratories	Pair Corr
0.76	IUI1	Intuitive Surgical	Pair Corr
0.66	ENOV	Enovis Corp Earnings Call This Week	Pair Corr
0.63	EUDA	EUDA Health Holdings	Pair Corr
0.62	2DR	Inspire Medical Systems	Pair Corr
0.61	MM3	Merit Medical Systems Earnings Call This Week	Pair Corr
0.57	XEJ	Accuray Incorporated	Pair Corr
0.5	AHC	Austco Healthcare Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ALUR	CODX	VVOS	EKSO	ADGM	AYTU	GOVX	PRPH
ALUR		0.37	0.61	-0.37	-0.22	0.34	0.35	0.15	ALUR
CODX	0.37		0.73	-0.89	-0.46	-0.54	0.95	0.88	CODX
VVOS	0.61	0.73		-0.63	-0.43	-0.09	0.71	0.63	VVOS
EKSO	-0.37	-0.89	-0.63		0.4	0.43	-0.87	-0.83	EKSO
ADGM	-0.22	-0.46	-0.43	0.4		0.52	-0.58	-0.6	ADGM
AYTU	0.34	-0.54	-0.09	0.43	0.52		-0.62	-0.72	AYTU
GOVX	0.35	0.95	0.71	-0.87	-0.58	-0.62		0.93	GOVX
PRPH	0.15	0.88	0.63	-0.83	-0.6	-0.72	0.93		PRPH
	ALUR	CODX	VVOS	EKSO	ADGM	AYTU	GOVX	PRPH

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

GOVX	+ 0.95	CODX
PRPH	+ 0.93	GOVX
PRPH	+ 0.88	CODX
VVOS	+ 0.73	CODX
GOVX	+ 0.71	VVOS
PRPH	+ 0.63	VVOS

High negative correlations

EKSO	- 0.89	CODX
GOVX	- 0.87	EKSO
PRPH	- 0.83	EKSO
PRPH	- 0.72	AYTU
EKSO	- 0.63	VVOS
GOVX	- 0.62	AYTU

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
ALUR	5.34	(0.57)	0.00	(0.07)	0.00	0.00	11.81	(9.68)	40.95
CODX	5.78	(1.46)	0.00	(0.73)	0.00	0.00	9.88	(12.84)	75.41
VVOS	3.29	(0.53)	0.00	(0.37)	0.00	0.00	5.29	(7.11)	31.84
EKSO	6.46	1.84	0.30	0.94	5.17	(7.62)	11.46	(9.07)	112.11
ADGM	4.80	0.73	0.09	(0.58)	5.37	(6.75)	11.36	(6.38)	64.48
AYTU	2.76	0.13	0.03	0.20	3.63	(2.81)	5.16	(5.94)	16.84
GOVX	6.16	(2.76)	0.00	(1.00)	0.00	0.00	11.16	(13.98)	48.30
PRPH	8.48	(3.57)	0.00	(5.15)	0.00	0.00	15.47	(22.22)	77.27

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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