SurModics Correlations

SRDXDelisted Stock

USD 42.98 0.00 0.00%

The current 90-days correlation between SurModics and Orthopediatrics Corp is -0.13 (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

Modest diversification

The correlation between SurModics and DJI is 0.22 (i.e., Modest 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. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with SurModics Stock

0.75	BBDO	Banco Bradesco SA	Pair Corr
0.74	AES	AES Aggressive Push	Pair Corr
0.79	LAND	Gladstone Land Earnings Call This Week	Pair Corr
0.75	482480AN0	KLAC 525 15	Pair Corr
0.77	MEGI	MainStay CBRE Global Normal Trading	Pair Corr

Moving against SurModics Stock

0.44	LRDC	Laredo Oil	Pair Corr
0.34	NWTG	Newton Golf Symbol Change	Pair Corr
0.47	BAM	Brookfield Asset Man Normal Trading	Pair Corr
0.41	ONON	On Holding	Pair Corr

Related Correlations Analysis

	KIDS	TMCI	CBLL	SMLR	RXST	XOMA	CCRN	LAB	TCMD	BVS
KIDS		0.33	0.49	-0.36	0.38	0.1	-0.29	0.58	0.53	0.02	KIDS
TMCI	0.33		-0.48	-0.54	0.43	0.77	0.59	0.09	-0.3	-0.45	TMCI
CBLL	0.49	-0.48		0.05	0.05	-0.71	-0.88	0.54	0.93	0.45	CBLL
SMLR	-0.36	-0.54	0.05		-0.47	-0.41	-0.18	-0.46	-0.13	0.48	SMLR
RXST	0.38	0.43	0.05	-0.47		0.25	-0.18	0.47	0.08	-0.51	RXST
XOMA	0.1	0.77	-0.71	-0.41	0.25		0.7	-0.13	-0.61	-0.54	XOMA
CCRN	-0.29	0.59	-0.88	-0.18	-0.18	0.7		-0.37	-0.77	-0.3	CCRN
LAB	0.58	0.09	0.54	-0.46	0.47	-0.13	-0.37		0.59	0.05	LAB
TCMD	0.53	-0.3	0.93	-0.13	0.08	-0.61	-0.77	0.59		0.4	TCMD
BVS	0.02	-0.45	0.45	0.48	-0.51	-0.54	-0.3	0.05	0.4		BVS
	KIDS	TMCI	CBLL	SMLR	RXST	XOMA	CCRN	LAB	TCMD	BVS

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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

TCMD	+ 0.93	CBLL
XOMA	+ 0.77	TMCI
CCRN	+ 0.7	XOMA
CCRN	+ 0.59	TMCI
TCMD	+ 0.59	LAB
LAB	+ 0.58	KIDS

High negative correlations

CCRN	- 0.88	CBLL
TCMD	- 0.77	CCRN
XOMA	- 0.71	CBLL
TCMD	- 0.61	XOMA
BVS	- 0.54	XOMA
SMLR	- 0.54	TMCI

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
KIDS	1.85	(0.04)	(0.02)	0.02	2.20	(2.00)	3.47	(2.97)	16.89
TMCI	3.06	(1.08)	0.00	(0.34)	0.00	0.00	6.51	(5.62)	18.13
CBLL	2.49	0.75	0.32	0.64	1.97	(3.06)	6.39	(3.94)	18.00
SMLR	49.98	19.70	4.11	0.27	4.86	(64.07)	18.45	(9.64)	1,670
RXST	2.83	(0.40)	0.00	(0.14)	0.00	0.00	7.29	(5.55)	23.38
XOMA	3.06	(0.41)	0.00	(3.75)	0.00	0.00	5.27	(7.40)	29.87
CCRN	2.43	(0.63)	0.00	(0.44)	0.00	0.00	5.51	(6.07)	24.90
LAB	3.03	(0.07)	(0.01)	0.01	3.43	(3.87)	7.81	(6.12)	27.04
TCMD	1.75	0.04	0.03	0.10	1.78	(2.26)	4.48	(2.95)	14.16
BVS	1.96	0.10	0.05	0.13	2.27	(2.08)	4.99	(3.86)	17.83

SurModics Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with SurModics stock to make a market-neutral strategy. Peer analysis of SurModics could also be used in its relative valuation, which is a method of valuing SurModics by comparing valuation metrics with similar companies.

Orthopediatrics Corp Treace Medical Concepts CeriBell Semler Scientific Rxsight XOMA Corp Cross Country Healthcare Standard Biotools Tactile Systems Technology Bioventus American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

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

Still Interested in SurModics?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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