NeuroMetrix Correlations

NURO Stock

USD 4.31 0.04 0.94%

The current 90-days correlation between NeuroMetrix and ReShape Lifesciences is 0.3 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NeuroMetrix moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NeuroMetrix moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

NeuroMetrix Correlation With Market

Good diversification

The correlation between NeuroMetrix and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NeuroMetrix 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 NeuroMetrix. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving against NeuroMetrix Stock

0.44	EHAB	Enhabit	Pair Corr
0.4	LH	Laboratory	Pair Corr
0.39	ENOV	Enovis Corp	Pair Corr
0.36	FLGT	Fulgent Genetics	Pair Corr
0.34	EDAP	EDAP TMS SA	Pair Corr

Related Correlations Analysis

	HSCS	RSLS	IINN	OPGN	BBLG	NUWE	TIVC	TLIS	NAOV	BJDX
HSCS		-0.29	0.28	0.04	0.71	-0.19	-0.39	0.48	-0.36	0.31	HSCS
RSLS	-0.29		-0.78	0.43	-0.27	-0.35	0.34	0.4	0.11	0.7	RSLS
IINN	0.28	-0.78		-0.34	0.35	0.37	-0.37	-0.24	-0.08	-0.61	IINN
OPGN	0.04	0.43	-0.34		-0.02	0.08	0.27	0.55	-0.67	0.49	OPGN
BBLG	0.71	-0.27	0.35	-0.02		-0.07	-0.36	0.48	-0.17	0.24	BBLG
NUWE	-0.19	-0.35	0.37	0.08	-0.07		0.29	-0.27	-0.16	-0.38	NUWE
TIVC	-0.39	0.34	-0.37	0.27	-0.36	0.29		-0.03	0.01	0.17	TIVC
TLIS	0.48	0.4	-0.24	0.55	0.48	-0.27	-0.03		-0.43	0.75	TLIS
NAOV	-0.36	0.11	-0.08	-0.67	-0.17	-0.16	0.01	-0.43		-0.11	NAOV
BJDX	0.31	0.7	-0.61	0.49	0.24	-0.38	0.17	0.75	-0.11		BJDX
	HSCS	RSLS	IINN	OPGN	BBLG	NUWE	TIVC	TLIS	NAOV	BJDX

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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

BJDX	+ 0.75	TLIS
BBLG	+ 0.71	HSCS
BJDX	+ 0.7	RSLS
TLIS	+ 0.55	OPGN
BJDX	+ 0.49	OPGN
TLIS	+ 0.48	HSCS

High negative correlations

IINN	- 0.78	RSLS
NAOV	- 0.67	OPGN
BJDX	- 0.61	IINN
NAOV	- 0.43	TLIS
TIVC	- 0.39	HSCS
BJDX	- 0.38	NUWE

Risk-Adjusted Indicators

There is a big difference between NeuroMetrix Stock performing well and NeuroMetrix 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 NeuroMetrix'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
HSCS	4.98	(0.15)	0.00	0.06	5.33	(6.23)	11.44	(8.97)	58.33
RSLS	4.76	(0.49)	0.00	3.66	0.00	0.00	7.93	(10.12)	42.57
IINN	2.08	0.21	0.07	0.38	2.09	(2.78)	5.43	(3.57)	15.46
OPGN	3.84	(0.73)	0.00	7.20	0.00	0.00	7.05	(12.02)	39.12
BBLG	9.09	0.81	0.09	0.69	8.77	(14.60)	18.13	(17.14)	163.17
NUWE	10.35	1.62	0.10	(0.61)	10.80	(13.50)	25.66	(20.93)	141.14
TIVC	4.66	(0.11)	0.00	(0.02)	0.00	0.00	12.12	(6.90)	79.31
TLIS	4.85	(1.85)	0.00	5.84	0.00	0.00	5.32	(10.69)	68.77
NAOV	4.21	0.39	0.06	0.61	4.90	(5.29)	9.26	(7.46)	32.03
BJDX	6.37	(0.90)	0.00	(2.25)	0.00	0.00	13.03	(13.14)	120.52

NeuroMetrix Corporate Executives

Elected by the shareholders, the NeuroMetrix's board of directors comprises two types of representatives: NeuroMetrix inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NeuroMetrix. The board's role is to monitor NeuroMetrix's management team and ensure that shareholders' interests are well served. NeuroMetrix's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, NeuroMetrix's outside directors are responsible for providing unbiased perspectives on the board's policies.

Thomas Higgins

CFO, Principal Accounting Officer, Sr. VP and Treasurer

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