Nano X Correlations

NNOX Stock

USD 6.76 0.19 2.89%

The current 90-days correlation between Nano X Imaging and Pacific Biosciences of is 0.39 (i.e., Weak diversification). The correlation of Nano X 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.

Nano X Correlation With Market

Weak diversification

The correlation between Nano X Imaging and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nano X Imaging and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nano X Imaging. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Nano Stock

0.64	GH	Guardant Health	Pair Corr
0.77	OM	Outset Medical	Pair Corr
0.73	VEEV	Veeva Systems Class	Pair Corr
0.79	VVOS	Vivos Therapeutics	Pair Corr
0.73	EHAB	Enhabit	Pair Corr
0.67	EMBC	Embecta Corp	Pair Corr
0.61	AMS	American Shared Hospital	Pair Corr

Moving against Nano Stock

0.56	EDAP	EDAP TMS SA	Pair Corr
0.54	DRIO	DarioHealth Corp	Pair Corr
0.51	EKSO	Ekso Bionics Holdings	Pair Corr
0.47	ENSG	Ensign Group	Pair Corr
0.41	CI	Cigna Corp	Pair Corr
0.35	ELAB	Elevai Labs, Common Buyout Trend	Pair Corr
0.34	VTAK	Catheter Precision	Pair Corr
0.55	COO	Cooper Companies,	Pair Corr
0.54	BAX	Baxter International	Pair Corr
0.52	CCM	Concord Medical Services	Pair Corr
0.48	AMN	AMN Healthcare Services Sell-off Trend	Pair Corr
0.46	ALC	Alcon AG	Pair Corr
0.46	BDX	Becton Dickinson	Pair Corr
0.44	CVS	CVS Health Corp	Pair Corr
0.43	AWH	Aspira Womens Health	Pair Corr
0.43	CYH	Community Health Systems	Pair Corr
0.42	BKD	Brookdale Senior Living	Pair Corr

Related Correlations Analysis

	ABT	SYK	EW	BSX	DXCM	IART	MGRM	AXNX	MDT	PACB
ABT		0.55	0.15	0.43	0.26	0.47	-0.6	0.12	0.23	0.28	ABT
SYK	0.55		0.4	0.78	0.7	0.79	-0.54	0.72	-0.4	0.17	SYK
EW	0.15	0.4		0.71	0.84	0.45	0.16	0.66	-0.68	0.05	EW
BSX	0.43	0.78	0.71		0.8	0.71	-0.29	0.7	-0.63	0.11	BSX
DXCM	0.26	0.7	0.84	0.8		0.65	-0.11	0.81	-0.67	0.08	DXCM
IART	0.47	0.79	0.45	0.71	0.65		-0.39	0.77	-0.52	0.54	IART
MGRM	-0.6	-0.54	0.16	-0.29	-0.11	-0.39		-0.26	-0.11	0.03	MGRM
AXNX	0.12	0.72	0.66	0.7	0.81	0.77	-0.26		-0.84	0.17	AXNX
MDT	0.23	-0.4	-0.68	-0.63	-0.67	-0.52	-0.11	-0.84		-0.03	MDT
PACB	0.28	0.17	0.05	0.11	0.08	0.54	0.03	0.17	-0.03		PACB
	ABT	SYK	EW	BSX	DXCM	IART	MGRM	AXNX	MDT	PACB

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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

DXCM	+ 0.84	EW
AXNX	+ 0.81	DXCM
DXCM	+ 0.8	BSX
IART	+ 0.79	SYK
BSX	+ 0.78	SYK
AXNX	+ 0.77	IART

High negative correlations

MDT	- 0.84	AXNX
MDT	- 0.68	EW
MDT	- 0.67	DXCM
MDT	- 0.63	BSX
MGRM	- 0.6	ABT
MGRM	- 0.54	SYK

Risk-Adjusted Indicators

There is a big difference between Nano Stock performing well and Nano X 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 Nano X'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
ABT	0.77	(0.01)	(0.03)	(0.01)	0.87	(0.85)	1.40	(1.29)	6.26
SYK	0.92	(0.02)	(0.03)	(0.01)	1.07	(1.09)	2.09	(1.88)	6.19
EW	1.19	0.16	0.11	0.44	1.10	(1.29)	3.14	(1.58)	8.58
BSX	0.73	0.07	0.07	0.18	0.82	(0.82)	1.67	(1.50)	6.63
DXCM	1.58	0.16	0.09	0.31	1.54	(1.81)	4.17	(2.58)	10.13
IART	2.18	0.37	0.15	0.35	2.03	(2.49)	3.54	(3.78)	31.15
MGRM	2.83	(0.01)	(0.01)	0.01	3.38	(3.25)	5.58	(6.78)	21.38
AXNX	0.16	0.04	0.12	7.65	0.00	(0.22)	0.51	(0.26)	1.10
MDT	0.73	(0.15)	0.00	(0.29)	0.00	0.00	1.30	(1.65)	5.69
PACB	5.14	0.09	0.02	0.05	5.87	(5.65)	11.96	(10.16)	41.72

Nano X Corporate Management

Gali Attias	Chief Resources	Profile
Marina Feler	Chief Officer	Profile
Tal Shank	VP Devel	Profile
Ran Poliakine	Founder Chairman	Profile
Tamar Cohen	Executive Officer	Profile
Ran Daniel	Chief Officer	Profile
Ilung Kim	Head Korea	Profile

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