SurModics Correlations

SRDX Stock

USD 39.56 0.23 0.58%

The current 90-days correlation between SurModics and Electromed is -0.01 (i.e., Good diversification). The correlation of SurModics 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.

SurModics Correlation With Market

Weak diversification

The correlation between SurModics and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SurModics 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 SurModics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

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

Moving together with SurModics Stock

0.71	FORA	Forian Inc	Pair Corr
0.68	IVP	Inspire Veterinary	Pair Corr
0.67	VCNX	Vaccinex	Pair Corr
0.62	FBRX	Forte Biosciences Trending	Pair Corr

Moving against SurModics Stock

0.67	VMD	Viemed Healthcare	Pair Corr
0.46	SSY	SunLink Health Systems	Pair Corr
0.44	FIGS	Figs Inc	Pair Corr
0.39	OMIC	Singular Genomics Systems	Pair Corr
0.72	EWTX	Edgewise Therapeutics	Pair Corr
0.65	VRDN	Viridian Therapeutics	Pair Corr
0.6	KZR	Kezar Life Sciences	Pair Corr
0.5	BMY	Bristol Myers Squibb Sell-off Trend	Pair Corr
0.45	KTTAW	Pasithea Therapeutics	Pair Corr
0.35	EXEL	Exelixis	Pair Corr
0.33	EXAS	EXACT Sciences	Pair Corr

Related Correlations Analysis

	OSA	LIVN	ELMD	KIDS	NPCE	INGN	LUNG	APYX	NUVA	CNMD
OSA		-0.05	0.29	-0.02	0.45	-0.05	-0.14	0.41	0.24	0.14	OSA
LIVN	-0.05		0.65	-0.76	-0.21	-0.77	-0.3	-0.21	-0.51	-0.44	LIVN
ELMD	0.29	0.65		-0.78	0.35	-0.68	-0.49	0.18	0.02	-0.13	ELMD
KIDS	-0.02	-0.76	-0.78		-0.03	0.73	0.49	-0.05	0.24	0.43	KIDS
NPCE	0.45	-0.21	0.35	-0.03		0.3	-0.02	0.57	0.57	0.54	NPCE
INGN	-0.05	-0.77	-0.68	0.73	0.3		0.43	0.35	0.54	0.52	INGN
LUNG	-0.14	-0.3	-0.49	0.49	-0.02	0.43		-0.15	-0.24	0.66	LUNG
APYX	0.41	-0.21	0.18	-0.05	0.57	0.35	-0.15		0.44	0.25	APYX
NUVA	0.24	-0.51	0.02	0.24	0.57	0.54	-0.24	0.44		0.32	NUVA
CNMD	0.14	-0.44	-0.13	0.43	0.54	0.52	0.66	0.25	0.32		CNMD
	OSA	LIVN	ELMD	KIDS	NPCE	INGN	LUNG	APYX	NUVA	CNMD

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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

INGN	+ 0.73	KIDS
CNMD	+ 0.66	LUNG
ELMD	+ 0.65	LIVN
APYX	+ 0.57	NPCE
NUVA	+ 0.57	NPCE
CNMD	+ 0.54	NPCE

High negative correlations

KIDS	- 0.78	ELMD
INGN	- 0.77	LIVN
KIDS	- 0.76	LIVN
INGN	- 0.68	ELMD
NUVA	- 0.51	LIVN
LUNG	- 0.49	ELMD

Risk-Adjusted Indicators

There is a big difference between SurModics Stock performing well and SurModics 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 SurModics' 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
OSA	104.70	42.41	1.97	0.63	13.81	(252.47)	51.22	(20.31)	168.97
LIVN	1.20	0.05	0.03	0.17	1.42	(1.18)	3.73	(2.55)	8.68
ELMD	2.60	0.91	0.31	0.98	2.15	(3.15)	6.65	(4.47)	13.47
KIDS	2.55	(0.32)	0.00	(0.11)	0.00	0.00	5.04	(5.08)	19.39
NPCE	3.51	0.32	0.14	0.25	3.00	(4.30)	9.73	(6.19)	35.38
INGN	1.93	(0.51)	0.00	(0.31)	0.00	0.00	2.66	(4.81)	22.50
LUNG	3.27	(0.19)	(0.01)	0.03	4.10	(3.67)	9.00	(6.89)	20.52
APYX	3.24	0.17	0.04	0.30	3.27	(4.40)	9.38	(6.45)	32.02
NUVA	1.23	0.04	0.00	0.05	0.00	0.00	3.31	(2.75)	7.19
CNMD	1.88	0.03	0.02	0.15	2.27	(1.94)	4.57	(3.83)	11.47

SurModics Corporate Management

Charles Olson	Sr. VP and General Manager of Medical Device	Profile
Timothy Arens	VP of Corporate Devel. and Strategy	Profile
Joseph Stich	VP and General Manager of In-Vitro Diagnostics	Profile
Gordon JD	General Legal	Profile
Gordon Weber	General Legal	Profile

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