Retractable Technologies Correlations

RVP Stock

USD 0.82 0.01 1.20%

The current 90-days correlation between Retractable Technologies and OncoCyte Corp is 0.2 (i.e., Modest diversification). The correlation of Retractable Technologies 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.

Retractable Technologies Correlation With Market

Average diversification

The correlation between Retractable Technologies and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Retractable Technologies 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 Retractable Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

To learn how to invest in Retractable Stock, please use our How to Invest in Retractable Technologies guide.

Moving together with Retractable Stock

0.62	ACHC	Acadia Healthcare	Pair Corr
0.64	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.65	ALTS	ALT5 Sigma Symbol Change	Pair Corr
0.75	ALVO	Alvotech	Pair Corr

Moving against Retractable Stock

0.67	NHC	National HealthCare	Pair Corr
0.51	ESPR	Esperion Therapeutics	Pair Corr
0.43	EHC	Encompass Health Corp Earnings Call This Week	Pair Corr
0.32	SEM	Select Medical Holdings	Pair Corr
0.31	PNTG	Pennant Group	Pair Corr
0.85	300981	Zhonghong Pulin Medical	Pair Corr
0.77	002382	Blue Sail Medical	Pair Corr
0.71	600587	Shinva Medical Instrument	Pair Corr
0.64	LFCR	Lifecore Biomedical	Pair Corr
0.62	301370	GKHT Medical Technology	Pair Corr
0.61	688626	Xiangyu Medical	Pair Corr
0.61	300869	Contec Medical Systems	Pair Corr
0.56	688358	Chison Medical Techn	Pair Corr
0.55	DERM	Journey Medical Corp Upward Rally	Pair Corr
0.51	688198	Beijing Balance Medical	Pair Corr
0.46	688139	Qingdao Haier Biomedical	Pair Corr
0.35	AQST	Aquestive Therapeutics	Pair Corr
0.34	VTI	Visioneering Technologies	Pair Corr

Related Correlations Analysis

	MLSS	PRTS	OCX	APT	INFU
MLSS		0.75	-0.72	0.1	-0.07	MLSS
PRTS	0.75		-0.72	-0.06	0.27	PRTS
OCX	-0.72	-0.72		0.31	-0.37	OCX
APT	0.1	-0.06	0.31		-0.65	APT
INFU	-0.07	0.27	-0.37	-0.65		INFU
	MLSS	PRTS	OCX	APT	INFU

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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

PRTS	+ 0.75	MLSS
APT	+ 0.31	OCX
INFU	+ 0.27	PRTS
APT	+ 0.1	MLSS

High negative correlations

OCX	- 0.72	PRTS
OCX	- 0.72	MLSS
INFU	- 0.65	APT
INFU	- 0.37	OCX
INFU	- 0.07	MLSS
APT	- 0.06	PRTS

Risk-Adjusted Indicators

There is a big difference between Retractable Stock performing well and Retractable Technologies 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 Retractable Technologies' 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	4.43	0.94	0.15	(0.84)	4.39	(5.57)	9.88	(7.89)	35.99
PRTS	3.82	0.86	0.26	0.72	2.86	(5.33)	11.50	(4.95)	19.28
OCX	2.29	(0.60)	0.00	(2.45)	0.00	0.00	3.45	(4.76)	23.66
APT	1.87	(0.18)	0.00	(0.54)	0.00	0.00	4.59	(3.37)	12.90
INFU	2.56	0.38	0.10	5.32	2.70	(3.04)	5.63	(4.38)	24.94

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