Quipt Home Correlations

QIPT Stock

USD 2.68 0.23 9.39%

The current 90-days correlation between Quipt Home Medical and Tela Bio is 0.28 (i.e., Modest diversification). The correlation of Quipt Home 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.

Quipt Home Correlation With Market

Very weak diversification

The correlation between Quipt Home Medical and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Quipt Home Medical and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Quipt Home Medical. 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.

Moving together with Quipt Stock

0.71

EKSO

Ekso Bionics Holdings

Pair Corr

Moving against Quipt Stock

0.73	VREX	Varex Imaging Corp	Pair Corr
0.62	GH	Guardant Health	Pair Corr
0.62	DXCM	DexCom Inc	Pair Corr
0.6	LH	Laboratory	Pair Corr
0.6	ELMD	Electromed	Pair Corr
0.51	MD	Mednax Inc	Pair Corr
0.48	OM	Outset Medical	Pair Corr
0.43	DOCS	Doximity Sell-off Trend	Pair Corr
0.32	EW	Edwards Lifesciences Corp	Pair Corr
0.68	MMSI	Merit Medical Systems	Pair Corr
0.64	NPCE	Neuropace	Pair Corr
0.62	SYK	Stryker	Pair Corr
0.62	LNSR	LENSAR Inc	Pair Corr
0.57	FNA	Paragon 28	Pair Corr
0.57	OFIX	Orthofix Medical	Pair Corr
0.57	PODD	Insulet	Pair Corr
0.51	BSX	Boston Scientific Corp	Pair Corr
0.51	WGS	GeneDx Holdings Corp	Pair Corr
0.44	ENOV	Enovis Corp	Pair Corr
0.65	CVRX	CVRx Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.62	TCMD	Tactile Systems Tech	Pair Corr
0.41	VANI	Vivani Medical	Pair Corr
0.4	CTKB	Cytek Biosciences	Pair Corr
0.38	AORT	Artivion	Pair Corr

Related Correlations Analysis

	TELA	TMCI	LUNG	PROF	PRCT	KIDS	NPCE	SRDX	OFIX	RXST
TELA		0.71	-0.28	0.4	0.76	-0.03	0.63	0.03	0.83	-0.22	TELA
TMCI	0.71		-0.17	0.34	0.68	-0.3	0.83	0.32	0.88	-0.56	TMCI
LUNG	-0.28	-0.17		0.21	-0.01	0.5	-0.14	0.37	-0.2	0.46	LUNG
PROF	0.4	0.34	0.21		0.15	0.41	0.26	0.37	0.35	0.3	PROF
PRCT	0.76	0.68	-0.01	0.15		-0.1	0.61	0.02	0.79	-0.29	PRCT
KIDS	-0.03	-0.3	0.5	0.41	-0.1		-0.13	0.42	-0.04	0.89	KIDS
NPCE	0.63	0.83	-0.14	0.26	0.61	-0.13		0.51	0.75	-0.42	NPCE
SRDX	0.03	0.32	0.37	0.37	0.02	0.42	0.51		0.28	0.22	SRDX
OFIX	0.83	0.88	-0.2	0.35	0.79	-0.04	0.75	0.28		-0.31	OFIX
RXST	-0.22	-0.56	0.46	0.3	-0.29	0.89	-0.42	0.22	-0.31		RXST
	TELA	TMCI	LUNG	PROF	PRCT	KIDS	NPCE	SRDX	OFIX	RXST

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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

RXST	+ 0.89	KIDS
OFIX	+ 0.88	TMCI
OFIX	+ 0.83	TELA
NPCE	+ 0.83	TMCI
OFIX	+ 0.79	PRCT
PRCT	+ 0.76	TELA

High negative correlations

RXST	- 0.56	TMCI
RXST	- 0.42	NPCE
RXST	- 0.31	OFIX
KIDS	- 0.3	TMCI
RXST	- 0.29	PRCT
LUNG	- 0.28	TELA

Risk-Adjusted Indicators

There is a big difference between Quipt Stock performing well and Quipt Home 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 Quipt Home'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
TELA	2.63	0.06	(0.01)	0.31	2.67	(3.57)	6.43	(4.83)	15.40
TMCI	3.16	0.12	0.18	0.14	2.58	(4.22)	6.08	(4.39)	38.73
LUNG	3.17	(0.42)	0.00	(0.11)	0.00	0.00	8.44	(6.89)	20.44
PROF	2.17	(0.18)	0.00	(0.20)	0.00	0.00	4.26	(3.53)	18.74
PRCT	2.62	0.21	0.09	0.28	2.50	(3.05)	5.18	(4.89)	39.20
KIDS	2.47	(0.42)	0.00	(0.24)	0.00	0.00	4.85	(5.08)	16.62
NPCE	3.41	0.26	0.12	0.23	3.03	(4.13)	9.73	(6.19)	35.38
SRDX	0.48	(0.05)	(0.20)	(0.02)	0.59	(0.51)	1.26	(1.01)	3.22
OFIX	1.85	0.00	0.02	0.11	2.05	(2.07)	3.90	(3.85)	12.11
RXST	1.72	(0.42)	0.00	(0.23)	0.00	0.00	2.19	(5.18)	12.89

Quipt Home Corporate Management

Hardik Mehta	Chief Officer	Profile
William Zehnder	Chief Relations	Profile
Robert LLB	Corporate Secretary	Profile
Mark Miles	Vice Technology	Profile
William MD	Chief Officer	Profile
David Bachelder	Executive Operations	Profile

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