STAAR Surgical Correlations

STAA Stock

USD 29.10 0.92 3.26%

The current 90-days correlation between STAAR Surgical and Repligen is 0.24 (i.e., Modest diversification). The correlation of STAAR Surgical 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.

STAAR Surgical Correlation With Market

Weak diversification

The correlation between STAAR Surgical and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STAAR Surgical 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 STAAR Surgical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For information on how to trade STAAR Stock refer to our How to Trade STAAR Stock guide.

Moving together with STAAR Stock

0.66	DRIO	DarioHealth Corp	Pair Corr
0.68	EKSO	Ekso Bionics Holdings	Pair Corr

Moving against STAAR Stock

0.74	DXCM	DexCom Inc Sell-off Trend	Pair Corr
0.64	VREX	Varex Imaging Corp	Pair Corr
0.62	LH	Laboratory	Pair Corr
0.6	ELMD	Electromed	Pair Corr
0.58	GH	Guardant Health	Pair Corr
0.55	MD	Mednax Inc	Pair Corr
0.46	EW	Edwards Lifesciences Corp	Pair Corr
0.45	OM	Outset Medical	Pair Corr
0.44	DOCS	Doximity	Pair Corr
0.42	VEEV	Veeva Systems Class Earnings Call This Week	Pair Corr
0.74	LNSR	LENSAR Inc	Pair Corr
0.73	SYK	Stryker	Pair Corr
0.66	OFIX	Orthofix Medical	Pair Corr
0.59	ABT	Abbott Laboratories Sell-off Trend	Pair Corr
0.59	MMSI	Merit Medical Systems	Pair Corr
0.59	PODD	Insulet	Pair Corr
0.58	BSX	Boston Scientific Corp Sell-off Trend	Pair Corr
0.58	WGS	GeneDx Holdings Corp	Pair Corr
0.54	FNA	Paragon 28	Pair Corr
0.54	NPCE	Neuropace	Pair Corr
0.42	ENOV	Enovis Corp	Pair Corr
0.68	VANI	Vivani Medical	Pair Corr
0.64	CVRX	CVRx Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.49	TCMD	Tactile Systems Tech	Pair Corr
0.4	CTKB	Cytek Biosciences	Pair Corr
0.37	DCTH	Delcath Systems	Pair Corr
0.32	AORT	Artivion	Pair Corr

Related Correlations Analysis

	RMD	WST	ICUI	MMSI	MBOT	BDX	COO	HOLX	RGEN	HAE
RMD		0.25	-0.3	0.28	0.04	-0.21	0.15	0.17	0.28	0.02	RMD
WST	0.25		-0.32	0.66	0.03	-0.48	-0.41	-0.4	0.2	0.6	WST
ICUI	-0.3	-0.32		-0.3	0.27	0.49	0.45	0.16	-0.18	-0.16	ICUI
MMSI	0.28	0.66	-0.3		0.08	-0.8	-0.51	-0.51	0.05	0.81	MMSI
MBOT	0.04	0.03	0.27	0.08		-0.09	-0.27	-0.21	-0.09	0.27	MBOT
BDX	-0.21	-0.48	0.49	-0.8	-0.09		0.55	0.56	0.17	-0.67	BDX
COO	0.15	-0.41	0.45	-0.51	-0.27	0.55		0.64	0.2	-0.59	COO
HOLX	0.17	-0.4	0.16	-0.51	-0.21	0.56	0.64		0.16	-0.71	HOLX
RGEN	0.28	0.2	-0.18	0.05	-0.09	0.17	0.2	0.16		0.04	RGEN
HAE	0.02	0.6	-0.16	0.81	0.27	-0.67	-0.59	-0.71	0.04		HAE
	RMD	WST	ICUI	MMSI	MBOT	BDX	COO	HOLX	RGEN	HAE

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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

HAE	+ 0.81	MMSI
MMSI	+ 0.66	WST
HOLX	+ 0.64	COO
HAE	+ 0.6	WST
HOLX	+ 0.56	BDX
COO	+ 0.55	BDX

High negative correlations

BDX	- 0.8	MMSI
HAE	- 0.71	HOLX
HAE	- 0.67	BDX
HAE	- 0.59	COO
HOLX	- 0.51	MMSI
COO	- 0.51	MMSI

Risk-Adjusted Indicators

There is a big difference between STAAR Stock performing well and STAAR Surgical 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 STAAR Surgical'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
RMD	1.07	0.01	(0.05)	0.18	1.61	(1.03)	2.08	(2.59)	11.88
WST	1.79	0.03	0.02	0.16	2.04	(2.00)	4.50	(3.02)	22.42
ICUI	1.29	(0.12)	(0.06)	0.01	1.74	(1.31)	2.77	(2.50)	10.44
MMSI	0.84	0.05	(0.01)	0.23	0.86	(0.90)	2.07	(1.23)	6.42
MBOT	2.09	0.02	(0.02)	0.20	2.27	(3.08)	5.38	(4.60)	15.87
BDX	0.83	(0.20)	0.00	(0.16)	0.00	0.00	1.49	(1.42)	7.77
COO	0.91	0.11	0.03	0.41	0.84	(0.98)	1.53	(1.64)	13.98
HOLX	0.89	(0.06)	0.00	(0.07)	0.00	0.00	1.81	(1.79)	8.14
RGEN	2.34	(0.03)	(0.01)	0.09	3.32	(2.31)	4.60	(4.70)	18.94
HAE	1.47	0.12	0.08	0.24	1.25	(1.80)	4.24	(2.02)	14.50

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