Stereotaxis Correlations

Stocks . USA . 
Stock . Stereotaxis
STXS Stock  USD 2.42  0.02  0.82%   
The current 90-days correlation between Stereotaxis and Accuray Incorporated is 0.27 (i.e., Modest diversification). The correlation of Stereotaxis 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.

Stereotaxis Correlation With Market

Average diversification

The correlation between Stereotaxis and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stereotaxis 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 Stereotaxis. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.
For more information on how to buy Stereotaxis Stock please use our How to Invest in Stereotaxis guide.

Moving together with Stereotaxis Stock

  0.65HIMS Hims Hers Health Aggressive PushPairCorr
  0.61FBRX Forte BiosciencesPairCorr
  0.65BNR Burning Rock BiotechPairCorr

Moving against Stereotaxis Stock

  0.64TFX Teleflex IncorporatedPairCorr
  0.47NRC National Research Corp Earnings Call This WeekPairCorr
  0.45VMD Viemed HealthcarePairCorr
  0.33DRIO DarioHealth CorpPairCorr
  0.33CVS CVS Health CorpPairCorr
  0.71ERNA Eterna TherapeuticsPairCorr
  0.64NEOG NeogenPairCorr
  0.61EYEN EyenoviaPairCorr
  0.59UTMD Utah Medical ProductsPairCorr
  0.57ELVN Enliven TherapeuticsPairCorr
  0.56ME 23Andme HoldingPairCorr
  0.4MLECW Moolec Science SAPairCorr
  0.37JNJ Johnson JohnsonPairCorr
  0.64INDP Indaptus TherapeuticsPairCorr
  0.6GNFT GenfitPairCorr

Related Correlations Analysis

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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   
ANGO
+ 0.7
ARAY
ATRC
+ 0.66
ARAY
EDAP
+ 0.5
CUTR
CUTR
+ 0.38
ARAY
ATRC
+ 0.37
ANGO
ATRC
+ 0.28
CUTR
  
High negative correlations   
EDAP
- 0.56
ANGO
EDAP
- 0.19
ARAY

Risk-Adjusted Indicators

There is a big difference between Stereotaxis Stock performing well and Stereotaxis 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 Stereotaxis' 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.

Stereotaxis Corporate Management

Nathan KasteleinRD ConceptsProfile
John PlattDirector SoftwareProfile
Brian KiddRD DevelProfile
Patricia EsqGeneral CounselProfile
Laura GarthGeneral SecretaryProfile
Keith GallowayVice OperationsProfile
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