Sight Sciences Correlations

SGHT Stock

USD 2.97 0.08 2.62%

The current 90-days correlation between Sight Sciences and Si Bone is 0.3 (i.e., Weak diversification). The correlation of Sight Sciences 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.

Sight Sciences Correlation With Market

Good diversification

The correlation between Sight Sciences and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sight Sciences and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sight Sciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

For more information on how to buy Sight Stock please use our How to Invest in Sight Sciences guide.

Moving together with Sight Stock

0.9	EVH	Evolent Health	Pair Corr
0.61	MOH	Molina Healthcare Earnings Call This Week	Pair Corr
0.88	TFX	Teleflex Incorporated	Pair Corr
0.72	VMD	Viemed Healthcare	Pair Corr
0.91	GCTK	GlucoTrack	Pair Corr
0.66	HCAT	Health Catalyst	Pair Corr
0.67	MASS	908 Devices	Pair Corr
0.91	ACET	Adicet Bio	Pair Corr
0.72	SNDA	Sonida Senior Living	Pair Corr
0.71	VALN	Valneva SE ADR	Pair Corr
0.75	ERNA	Eterna Therapeutics	Pair Corr
0.72	FLGC	Flora Growth Corp	Pair Corr

Moving against Sight Stock

0.86	LNSR	LENSAR Inc	Pair Corr
0.78	CAH	Cardinal Health	Pair Corr
0.71	HQY	HealthEquity	Pair Corr
0.66	AHG	Akso Health Group	Pair Corr
0.66	HSTM	HealthStream	Pair Corr
0.57	XYLO	Xylo Technologies Symbol Change	Pair Corr
0.56	HIMS	Hims Hers Health Aggressive Push	Pair Corr
0.85	STRM	Streamline Health	Pair Corr
0.84	ATEC	Alphatec Holdings	Pair Corr
0.77	TMCI	Treace Medical Concepts	Pair Corr
0.62	PRVA	Privia Health Group	Pair Corr
0.58	MBOT	Microbot Medical	Pair Corr
0.57	CERT	Certara	Pair Corr
0.49	TNDM	Tandem Diabetes Care	Pair Corr
0.36	CTKB	Cytek Biosciences	Pair Corr
0.31	MMSI	Merit Medical Systems	Pair Corr
0.65	BMY	Bristol Myers Squibb Earnings Call This Week	Pair Corr
0.59	MLAB	Mesa Laboratories Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SIBN	RPID	TCMD	LUNG	AORT	ANIK	OFIX	AVNS	FNA	VREX
SIBN		0.74	0.16	0.2	0.73	-0.38	0.23	-0.36	0.31	-0.3	SIBN
RPID	0.74		0.07	-0.02	0.52	-0.19	0.39	-0.11	0.28	-0.21	RPID
TCMD	0.16	0.07		-0.23	0.68	-0.5	0.53	-0.5	0.8	0.66	TCMD
LUNG	0.2	-0.02	-0.23		-0.03	-0.11	0.19	0.2	-0.3	0.0	LUNG
AORT	0.73	0.52	0.68	-0.03		-0.49	0.46	-0.49	0.67	0.22	AORT
ANIK	-0.38	-0.19	-0.5	-0.11	-0.49		-0.48	0.73	-0.71	-0.26	ANIK
OFIX	0.23	0.39	0.53	0.19	0.46	-0.48		-0.03	0.51	0.68	OFIX
AVNS	-0.36	-0.11	-0.5	0.2	-0.49	0.73	-0.03		-0.74	0.01	AVNS
FNA	0.31	0.28	0.8	-0.3	0.67	-0.71	0.51	-0.74		0.4	FNA
VREX	-0.3	-0.21	0.66	0.0	0.22	-0.26	0.68	0.01	0.4		VREX
	SIBN	RPID	TCMD	LUNG	AORT	ANIK	OFIX	AVNS	FNA	VREX

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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

FNA	+ 0.8	TCMD
RPID	+ 0.74	SIBN
AORT	+ 0.73	SIBN
AVNS	+ 0.73	ANIK
AORT	+ 0.68	TCMD
VREX	+ 0.68	OFIX

High negative correlations

FNA	- 0.74	AVNS
FNA	- 0.71	ANIK
AVNS	- 0.5	TCMD
ANIK	- 0.5	TCMD
AVNS	- 0.49	AORT
ANIK	- 0.49	AORT

Risk-Adjusted Indicators

There is a big difference between Sight Stock performing well and Sight Sciences 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 Sight Sciences' 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
SIBN	2.94	0.45	0.12	0.44	3.41	(3.38)	6.75	(4.33)	26.24
RPID	4.01	0.89	0.19	0.73	3.82	(4.76)	13.82	(6.25)	26.30
TCMD	2.10	0.40	0.11	(1.38)	2.38	(2.52)	5.99	(3.48)	16.84
LUNG	2.96	(0.04)	(0.02)	(0.03)	3.33	(3.26)	8.44	(5.32)	20.44
AORT	1.38	0.21	0.10	0.66	1.37	(1.57)	3.49	(2.23)	9.51
ANIK	1.90	(0.45)	0.00	2.88	0.00	0.00	3.02	(3.39)	32.07
OFIX	1.44	0.24	0.10	0.52	1.69	(1.52)	3.14	(3.15)	12.11
AVNS	1.90	(0.45)	0.00	(0.26)	0.00	0.00	3.95	(3.82)	19.15
FNA	3.22	1.57	0.54	(25.50)	1.80	(4.03)	7.83	(3.74)	43.16
VREX	1.67	0.05	0.02	0.14	2.01	(1.69)	3.23	(2.73)	12.94

Sight Sciences Corporate Management

MBA BS	VP Operations	Profile
Stacie Rodgers	VP HR	Profile
John Liu	VP Access	Profile
Stephen JD	Secretary	Profile
Reay MD	Chief Officer	Profile
Sam Park	Chief Officer	Profile
John Ordway	VP Operations	Profile

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