Neuronetics Correlations

STIM Stock

USD 1.90 0.09 4.97%

The current 90-days correlation between Neuronetics and Prenetics Global is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Neuronetics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Neuronetics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Neuronetics Correlation With Market

Very weak diversification

The correlation between Neuronetics and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neuronetics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Neuronetics Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Neuronetics. 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.

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

Moving together with Neuronetics Stock

0.94	OM	Outset Medical	Pair Corr
0.81	OTC	Ocumetics Technology Corp	Pair Corr
0.76	XRAY	Dentsply Sirona	Pair Corr
0.78	002901	Double Medical Technology	Pair Corr
0.65	600587	Shinva Medical Instrument	Pair Corr
0.76	ICCM	Icecure Medical	Pair Corr
0.8	688581	Hangzhou AGS MedTech	Pair Corr
0.63	688151	Hubei Huaqiang High	Pair Corr
0.84	688613	Allgens Medical Tech	Pair Corr
0.84	688617	APT Medical	Pair Corr
0.83	300633	SonoScape Medical Corp	Pair Corr
0.67	688085	Shanghai Sanyou Medical	Pair Corr
0.73	LMAT	LeMaitre Vascular	Pair Corr
0.78	CREO	Creo Medical Group	Pair Corr

Moving against Neuronetics Stock

0.94	HAE	Haemonetics	Pair Corr
0.69	301370	GKHT Medical Technology	Pair Corr
0.61	688656	HOB Biotech Group	Pair Corr
0.48	688198	Beijing Balance Medical	Pair Corr
0.39	301367	BMC Medical	Pair Corr
0.35	300981	Zhonghong Pulin Medical	Pair Corr
0.57	PROF	Profound Medical Corp	Pair Corr
0.53	PRN	Profound Medical Corp	Pair Corr
0.46	688607	CareRay Digital Medical	Pair Corr
0.43	002950	Allmed Medical Products	Pair Corr
0.36	MMSI	Merit Medical Systems	Pair Corr
0.32	NVST	Envista Holdings Corp	Pair Corr

Related Correlations Analysis

	PRE	NYXH	ATLN	OABI	CATX	OSUR	PROF	CDXS	SGMO	GNFT
PRE		-0.01	-0.45	0.62	0.33	0.21	0.5	0.02	0.01	0.6	PRE
NYXH	-0.01		0.69	-0.43	0.62	0.78	-0.45	0.78	0.78	-0.51	NYXH
ATLN	-0.45	0.69		-0.75	0.3	0.54	-0.71	0.71	0.67	-0.79	ATLN
OABI	0.62	-0.43	-0.75		0.01	-0.23	0.71	-0.47	-0.42	0.83	OABI
CATX	0.33	0.62	0.3	0.01		0.7	-0.16	0.64	0.65	-0.09	CATX
OSUR	0.21	0.78	0.54	-0.23	0.7		-0.31	0.89	0.86	-0.3	OSUR
PROF	0.5	-0.45	-0.71	0.71	-0.16	-0.31		-0.64	-0.63	0.89	PROF
CDXS	0.02	0.78	0.71	-0.47	0.64	0.89	-0.64		0.96	-0.6	CDXS
SGMO	0.01	0.78	0.67	-0.42	0.65	0.86	-0.63	0.96		-0.58	SGMO
GNFT	0.6	-0.51	-0.79	0.83	-0.09	-0.3	0.89	-0.6	-0.58		GNFT
	PRE	NYXH	ATLN	OABI	CATX	OSUR	PROF	CDXS	SGMO	GNFT

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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

SGMO	+ 0.96	CDXS
CDXS	+ 0.89	OSUR
GNFT	+ 0.89	PROF
SGMO	+ 0.86	OSUR
GNFT	+ 0.83	OABI
OSUR	+ 0.78	NYXH

High negative correlations

GNFT	- 0.79	ATLN
OABI	- 0.75	ATLN
PROF	- 0.71	ATLN
CDXS	- 0.64	PROF
SGMO	- 0.63	PROF
GNFT	- 0.6	CDXS

Risk-Adjusted Indicators

There is a big difference between Neuronetics Stock performing well and Neuronetics 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 Neuronetics' 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
PRE	4.32	0.25	0.04	0.34	5.66	(4.53)	8.75	(7.28)	30.22
NYXH	2.49	(0.32)	0.00	(0.43)	0.00	0.00	4.44	(5.42)	18.99
ATLN	6.16	(0.16)	0.01	0.04	6.89	(7.69)	19.07	(13.66)	60.25
OABI	2.72	0.16	0.08	0.19	2.52	(3.64)	7.97	(4.52)	15.52
CATX	4.35	(0.94)	0.00	(5.42)	0.00	0.00	6.25	(8.80)	31.85
OSUR	2.28	(0.17)	0.00	(0.15)	0.00	0.00	5.58	(3.75)	13.27
PROF	3.03	0.57	0.16	23.21	2.77	(4.02)	7.87	(3.80)	21.80
CDXS	3.39	(0.74)	0.00	(0.22)	0.00	0.00	5.52	(6.56)	25.89
SGMO	3.63	(0.90)	0.00	(0.34)	0.00	0.00	7.69	(6.98)	22.61
GNFT	3.17	0.72	0.12	(1.46)	3.79	(3.65)	7.34	(7.71)	25.18

Neuronetics Corporate Management

MBA CMA	Chief Officer	Profile
Lisa MetznerRosas	Senior Officer	Profile
Andrew Macan	Gen VP	Profile
Claire Sears	VP Marketing	Profile
Rick Grubbs	Senior Accounts	Profile
Cory Anderson	Senior Clinical	Profile
Kara Thornton	VP Director	Profile

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