Profound Medical Correlations

PROF Stock

USD 7.31 0.06 0.81%

The current 90-days correlation between Profound Medical Corp and TriSalus Life Sciences is 0.22 (i.e., Modest diversification). The correlation of Profound Medical 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.

Profound Medical Correlation With Market

Very weak diversification

The correlation between Profound Medical Corp and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Profound Medical Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Profound Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Profound Medical 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 metropolitan statistical area.

Moving together with Profound Stock

0.78	SPEC	Inspecs Group plc	Pair Corr
0.64	EW	Edwards Lifesciences Corp	Pair Corr
0.61	688656	HOB Biotech Group	Pair Corr
0.72	BLCO	Bausch Lomb Corp	Pair Corr
0.86	ELMD	Electromed	Pair Corr
0.66	BB1	Blinklab	Pair Corr
0.77	ESTA	Establishment Labs	Pair Corr

Moving against Profound Stock

0.8	300061	QITIAN Technology	Pair Corr
0.76	OM	Outset Medical	Pair Corr
0.74	VNRX	Volitionrx	Pair Corr
0.69	688677	Qingdao NovelBeam	Pair Corr
0.62	688606	Hangzhou Alltest Biotech	Pair Corr
0.61	VERO	Venus Concept	Pair Corr
0.55	301363	MeHow Innovative	Pair Corr
0.55	688289	Sansure Biotech	Pair Corr
0.54	DYNT	Dynatronics	Pair Corr
0.53	600055	Beijing Wandong Medical	Pair Corr
0.31	IPD	Impedimed	Pair Corr
0.86	OTC	Ocumetics Technology Corp	Pair Corr
0.76	VVOS	Vivos Therapeutics	Pair Corr
0.75	EMBC	Embecta Corp	Pair Corr
0.7	ELAB	Elevai Labs, Common	Pair Corr
0.69	ENOV	Enovis Corp	Pair Corr
0.62	POLX	Polarean Imaging Plc	Pair Corr
0.35	002382	Blue Sail Medical	Pair Corr
0.88	AHG	Akso Health Group	Pair Corr
0.82	688317	Shanghai ZJ Bio	Pair Corr
0.78	XAIR	Beyond Air	Pair Corr
0.71	300482	Guangzhou Wondfo Biotech	Pair Corr
0.5	ABT	Abbott Laboratories	Pair Corr
0.39	688338	Beijing Succeeder	Pair Corr

Related Correlations Analysis

	TLSI	MXCT	CATX	LNSR	AVR	NNOX	PRE	STIM	OWLT	ARMP
TLSI		-0.17	-0.3	-0.03	0.41	-0.16	0.57	-0.73	0.86	0.4	TLSI
MXCT	-0.17		0.28	-0.1	0.02	0.55	0.15	0.14	-0.13	-0.06	MXCT
CATX	-0.3	0.28		0.58	0.34	0.43	0.2	0.62	-0.48	-0.78	CATX
LNSR	-0.03	-0.1	0.58		0.66	0.08	0.41	0.61	-0.39	-0.67	LNSR
AVR	0.41	0.02	0.34	0.66		0.09	0.74	0.18	0.09	-0.22	AVR
NNOX	-0.16	0.55	0.43	0.08	0.09		0.06	0.35	-0.31	-0.36	NNOX
PRE	0.57	0.15	0.2	0.41	0.74	0.06		-0.12	0.32	0.03	PRE
STIM	-0.73	0.14	0.62	0.61	0.18	0.35	-0.12		-0.91	-0.68	STIM
OWLT	0.86	-0.13	-0.48	-0.39	0.09	-0.31	0.32	-0.91		0.62	OWLT
ARMP	0.4	-0.06	-0.78	-0.67	-0.22	-0.36	0.03	-0.68	0.62		ARMP
	TLSI	MXCT	CATX	LNSR	AVR	NNOX	PRE	STIM	OWLT	ARMP

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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

OWLT	+ 0.86	TLSI
PRE	+ 0.74	AVR
AVR	+ 0.66	LNSR
STIM	+ 0.62	CATX
ARMP	+ 0.62	OWLT
STIM	+ 0.61	LNSR

High negative correlations

OWLT	- 0.91	STIM
ARMP	- 0.78	CATX
STIM	- 0.73	TLSI
ARMP	- 0.68	STIM
ARMP	- 0.67	LNSR
OWLT	- 0.48	CATX

Risk-Adjusted Indicators

There is a big difference between Profound Stock performing well and Profound Medical 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 Profound Medical'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
TLSI	3.05	0.48	0.15	0.38	3.04	(3.81)	8.30	(5.50)	21.19
MXCT	3.59	(0.11)	(0.01)	0.02	4.53	(3.76)	8.67	(7.39)	22.89
CATX	4.37	0.11	(0.01)	(0.03)	6.69	(4.54)	8.14	(7.83)	54.86
LNSR	1.66	(0.07)	(0.03)	0.00	2.54	(1.72)	3.63	(3.39)	12.25
AVR	4.37	0.31	0.09	0.20	4.40	(5.31)	9.38	(7.84)	32.32
NNOX	3.87	(0.50)	0.00	(0.17)	0.00	0.00	9.44	(6.06)	36.87
PRE	4.73	0.39	0.07	0.36	5.82	(5.23)	9.77	(8.43)	31.73
STIM	4.47	(1.11)	0.00	(0.26)	0.00	0.00	8.21	(9.09)	23.83
OWLT	3.87	0.95	0.21	0.96	3.84	(4.60)	9.52	(7.64)	30.32
ARMP	6.15	1.97	0.27	(1.10)	5.54	(7.62)	14.07	(9.16)	124.74

Profound Medical Corporate Management

Arun MBA	Chairman CEO	Profile
Hartmut Warnken	Senior Alliances	Profile
Jacques Cornet	Senior Sonalleve	Profile
Stephen Kilmer	Investor Relations	Profile
Mathieu Burtnyk	Senior TULSAPRO	Profile
Thomas MBA	Chief Officer	Profile
Abbey Goodman	Chief Global	Profile

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