Accelerate Diagnostics Correlations

AXDX Stock  USD 1.70  0.13  8.28%   
The current 90-days correlation between Accelerate Diagnostics and ProSomnus, Common Stock is -0.15 (i.e., Good diversification). The correlation of Accelerate Diagnostics 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.

Accelerate Diagnostics Correlation With Market

Good diversification

The correlation between Accelerate Diagnostics and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Accelerate Diagnostics and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Accelerate Diagnostics. 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 Accelerate Stock please use our How to Invest in Accelerate Diagnostics guide.

Moving against Accelerate Stock

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  0.42DRMA Dermata TherapeuticsPairCorr
  0.36DRTS Alpha Tau MedicalPairCorr
  0.33DOMH Dominari HoldingsPairCorr
  0.57CDTTW Conduit PharmaceuticalsPairCorr
  0.46DYAI Dyadic InternationalPairCorr
  0.43VRCA Verrica PharmaceuticalsPairCorr
  0.35VINC Vincerx PharmaPairCorr
  0.57ELUT Elutia IncPairCorr

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   
AVNSSGHT
AVNSANIK
SGHTANIK
OFIXCVRX
AORTCVRX
OFIXNPCE
  
High negative correlations   
ANIKCVRX
OFIXANIK
SGHTCVRX
AVNSCVRX
SGHTAORT
OFIXSGHT

Risk-Adjusted Indicators

There is a big difference between Accelerate Stock performing well and Accelerate Diagnostics 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 Accelerate Diagnostics' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CVRX  3.80  0.88  0.19  4.81  3.31 
 10.68 
 41.08 
NPCE  3.58  0.49  0.17  0.39  2.92 
 9.73 
 35.38 
ANIK  1.74 (0.37) 0.00  0.54  0.00 
 3.09 
 34.28 
AXGN  2.32  0.07  0.02  0.20  3.64 
 4.75 
 21.60 
AORT  1.25  0.02  0.04  0.16  1.36 
 2.65 
 9.51 
SGHT  2.97 (1.14) 0.00 (0.22) 0.00 
 6.65 
 18.22 
OFIX  1.85  0.03  0.02  0.16  1.96 
 3.90 
 12.11 
AVNS  1.68 (0.46) 0.00 (0.36) 0.00 
 3.01 
 20.91 
CNMD  1.86 (0.04)(0.02) 0.09  2.36 
 4.46 
 10.92 
KIDS  2.50 (0.43) 0.00 (0.30) 0.00 
 4.85 
 16.62 

Accelerate Diagnostics Corporate Management