Rapid Micro Correlations

RPID Stock

USD 1.15 0.04 3.60%

The current 90-days correlation between Rapid Micro Biosystems and Aziyo Biologics is -0.28 (i.e., Very good diversification). The correlation of Rapid Micro 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.

Rapid Micro Correlation With Market

Weak diversification

The correlation between Rapid Micro Biosystems and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rapid Micro Biosystems 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 Rapid Micro Biosystems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Rapid Stock

0.65	T	ATT Inc Aggressive Push	Pair Corr
0.76	VEON	VEON	Pair Corr
0.79	IDT	IDT Corporation Earnings Call This Week	Pair Corr
0.89	TDS	Telephone and Data	Pair Corr
0.8	TEO	Telecom Argentina	Pair Corr
0.84	USM	United States Cellular	Pair Corr
0.76	GSAT	Globalstar	Pair Corr
0.84	LUMN	Lumen Technologies	Pair Corr

Moving against Rapid Stock

0.88	BCE	BCE Inc	Pair Corr
0.88	RCI	Rogers Communications	Pair Corr
0.86	PHI	PLDT Inc ADR	Pair Corr
0.84	TLK	Telkom Indonesia Tbk	Pair Corr
0.81	VOD	Vodafone Group PLC	Pair Corr
0.76	UCL	Ucloudlink Group	Pair Corr
0.71	TU	Telus Corp	Pair Corr
0.71	AMX	America Movil SAB	Pair Corr
0.69	SKM	SK Telecom	Pair Corr
0.69	VIV	Telefonica Brasil	Pair Corr
0.67	KORE	KORE Group Holdings	Pair Corr
0.65	TEF	Telefonica SA ADR	Pair Corr
0.6	LILA	Liberty Latin America	Pair Corr
0.57	CHT	Chunghwa Telecom	Pair Corr
0.45	VZ	Verizon Communications Aggressive Push	Pair Corr
0.4	FNGR	FingerMotion	Pair Corr
0.33	TKC	Turkcell Iletisim	Pair Corr
0.89	TC	TuanChe ADR	Pair Corr
0.83	TIMB	TIM Participacoes	Pair Corr
0.72	ATNI	ATN International	Pair Corr
0.67	LBTYK	Liberty Global PLC	Pair Corr
0.51	ASTS	Ast Spacemobile Sell-off Trend	Pair Corr
0.5	ATEX	Anterix	Pair Corr
0.49	SHEN	Shenandoah Telecommunicatio	Pair Corr
0.42	LBTYB	Liberty Global PLC	Pair Corr
0.41	YQ	17 Education Technology	Pair Corr

Related Correlations Analysis

	RXST	AXGN	TMCI	LUNG	OFIX	AZYO	AIMD	SRDX	LNSR	IRIX
RXST		0.13	-0.46	0.43	-0.2	-0.43	0.59	0.4	-0.66	0.48	RXST
AXGN	0.13		-0.39	0.38	-0.35	0.1	-0.41	-0.31	-0.31	-0.32	AXGN
TMCI	-0.46	-0.39		-0.1	0.85	-0.03	-0.19	0.23	0.75	-0.1	TMCI
LUNG	0.43	0.38	-0.1		-0.13	-0.42	0.06	0.44	-0.51	0.41	LUNG
OFIX	-0.2	-0.35	0.85	-0.13		0.04	-0.14	0.19	0.76	-0.04	OFIX
AZYO	-0.43	0.1	-0.03	-0.42	0.04		-0.5	-0.45	0.44	-0.39	AZYO
AIMD	0.59	-0.41	-0.19	0.06	-0.14	-0.5		0.38	-0.47	0.47	AIMD
SRDX	0.4	-0.31	0.23	0.44	0.19	-0.45	0.38		-0.24	0.74	SRDX
LNSR	-0.66	-0.31	0.75	-0.51	0.76	0.44	-0.47	-0.24		-0.44	LNSR
IRIX	0.48	-0.32	-0.1	0.41	-0.04	-0.39	0.47	0.74	-0.44		IRIX
	RXST	AXGN	TMCI	LUNG	OFIX	AZYO	AIMD	SRDX	LNSR	IRIX

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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

OFIX	+ 0.85	TMCI
LNSR	+ 0.76	OFIX
LNSR	+ 0.75	TMCI
IRIX	+ 0.74	SRDX
AIMD	+ 0.59	RXST
IRIX	+ 0.48	RXST

High negative correlations

LNSR	- 0.66	RXST
LNSR	- 0.51	LUNG
AIMD	- 0.5	AZYO
LNSR	- 0.47	AIMD
TMCI	- 0.46	RXST
SRDX	- 0.45	AZYO

Risk-Adjusted Indicators

There is a big difference between Rapid Stock performing well and Rapid Micro 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 Rapid Micro'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
RXST	1.74	(0.42)	0.00	(0.22)	0.00	0.00	2.19	(5.18)	12.89
AXGN	2.21	0.02	0.01	0.14	3.70	(2.19)	4.73	(5.50)	21.60
TMCI	3.12	(0.06)	0.12	0.11	2.69	(4.16)	6.08	(4.39)	38.73
LUNG	3.27	(0.19)	(0.01)	0.03	4.10	(3.67)	9.00	(6.89)	20.52
OFIX	1.87	0.04	0.04	0.15	2.03	(2.09)	3.90	(3.85)	12.11
AZYO	3.96	0.83	0.13	(0.47)	3.84	(5.00)	8.44	(7.23)	30.62
AIMD	3.77	(0.57)	0.00	(0.22)	0.00	0.00	8.16	(7.69)	28.01
SRDX	0.48	(0.07)	0.00	(0.10)	0.00	0.00	1.26	(1.01)	3.22
LNSR	3.47	0.82	0.17	1.50	3.77	(3.94)	8.92	(5.53)	23.28
IRIX	2.58	(0.11)	0.00	(0.02)	0.00	0.00	4.76	(5.33)	40.39

Rapid Micro Corporate Management

John Wilson	Chief Officer	Profile
Michael CFA	Vice Communications	Profile
Kristine Williams	Senior Management	Profile
Jonathan Paris	Gen VP	Profile
Sean CPA	Chief Officer	Profile
Victoria Vezina	Chief Officer	Profile

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