Sharps Technology Correlations

STSS Stock

USD 0.41 0 0.68%

The current 90-days correlation between Sharps Technology and Meihua International Medical is 0.16 (i.e., Average diversification). The correlation of Sharps Technology 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.

Sharps Technology Correlation With Market

Significant diversification

The correlation between Sharps Technology and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sharps Technology 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 Sharps Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

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

Moving together with Sharps Stock

0.66	NHC	National HealthCare	Pair Corr
0.63	INNV	InnovAge Holding Corp Earnings Call This Week	Pair Corr
0.67	PNTG	Pennant Group	Pair Corr
0.77	AQST	Aquestive Therapeutics	Pair Corr

Moving against Sharps Stock

0.72	LNSR	LENSAR Inc	Pair Corr
0.65	TNDM	Tandem Diabetes Care	Pair Corr
0.6	EHAB	Enhabit	Pair Corr
0.43	CAH	Cardinal Health	Pair Corr
0.39	ADUS	Addus HomeCare	Pair Corr
0.7	ALTS	ALT5 Sigma Symbol Change	Pair Corr
0.48	GILD	Gilead Sciences Earnings Call This Week	Pair Corr
0.48	BFRI	Biofrontera	Pair Corr
0.41	4DX	4Dmedical	Pair Corr

Related Correlations Analysis

	ZJYL	MHUA	GMVD	GCTK	LUCY	NXGL	AVGR	MBOT	POCI	KRMD
ZJYL		0.66	0.0	0.92	0.61	-0.59	0.32	-0.35	-0.83	-0.93	ZJYL
MHUA	0.66		0.0	0.68	0.69	-0.5	0.34	-0.61	-0.52	-0.7	MHUA
GMVD	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	GMVD
GCTK	0.92	0.68	0.0		0.55	-0.48	0.29	-0.4	-0.85	-0.89	GCTK
LUCY	0.61	0.69	0.0	0.55		-0.62	0.21	-0.41	-0.41	-0.65	LUCY
NXGL	-0.59	-0.5	0.0	-0.48	-0.62		-0.02	-0.02	0.5	0.61	NXGL
AVGR	0.32	0.34	0.0	0.29	0.21	-0.02		-0.39	-0.15	-0.34	AVGR
MBOT	-0.35	-0.61	0.0	-0.4	-0.41	-0.02	-0.39		0.17	0.47	MBOT
POCI	-0.83	-0.52	0.0	-0.85	-0.41	0.5	-0.15	0.17		0.75	POCI
KRMD	-0.93	-0.7	0.0	-0.89	-0.65	0.61	-0.34	0.47	0.75		KRMD
	ZJYL	MHUA	GMVD	GCTK	LUCY	NXGL	AVGR	MBOT	POCI	KRMD

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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

GCTK	+ 0.92	ZJYL
KRMD	+ 0.75	POCI
LUCY	+ 0.69	MHUA
GCTK	+ 0.68	MHUA
MHUA	+ 0.66	ZJYL
LUCY	+ 0.61	ZJYL

High negative correlations

KRMD	- 0.93	ZJYL
KRMD	- 0.89	GCTK
POCI	- 0.85	GCTK
POCI	- 0.83	ZJYL
KRMD	- 0.7	MHUA
KRMD	- 0.65	LUCY

Risk-Adjusted Indicators

There is a big difference between Sharps Stock performing well and Sharps Technology 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 Sharps Technology's 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
ZJYL	6.36	(1.19)	0.00	(0.84)	0.00	0.00	12.35	(12.50)	38.64
MHUA	5.52	(0.87)	0.00	(0.45)	0.00	0.00	14.81	(13.11)	72.35
GMVD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GCTK	11.18	(3.08)	0.00	(2.16)	0.00	0.00	19.35	(33.33)	90.86
LUCY	4.19	(0.13)	0.00	(0.07)	0.00	0.00	9.55	(9.27)	39.92
NXGL	4.03	0.38	0.07	0.58	4.56	(4.61)	10.72	(5.85)	27.48
AVGR	8.87	0.53	0.07	0.25	10.01	(14.14)	33.33	(23.81)	151.56
MBOT	5.69	1.51	0.19	1.09	5.93	(8.74)	11.00	(7.77)	121.64
POCI	2.73	0.35	0.11	0.51	2.72	(3.08)	6.73	(4.44)	17.26
KRMD	2.92	0.79	0.24	1.01	2.60	(3.69)	8.65	(3.91)	23.89

Sharps Technology Corporate Management

Robert Hayes	CEO Director	Profile
Alan Blackman	Chief CoChairman	Profile
Steven MD	Chief Officer	Profile
Ben Scheu	Senior Sales	Profile
Barry Berler	Chief Inventor	Profile
Andrew CPA	Chief Officer	Profile

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