Shockwave Medical Correlations

Summary

SWAVDelisted Stock

USD 268.45 6.44 2.34%

The current 90-days correlation between Shockwave Medical and Inari Medical is -0.01 (i.e., Good diversification). The correlation of Shockwave Medical 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.

Shockwave Medical Correlation With Market

Average diversification

The correlation between Shockwave Medical and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shockwave Medical and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios. 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.

Moving against Shockwave Stock

0.37	DIS	Walt Disney Aggressive Push	Pair Corr
0.32	CVX	Chevron Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	NARI	OM	CLPT	INSP	PEN	PODD	TMDX	MASI	ALGN
NARI		0.66	0.04	-0.47	0.89	0.69	-0.83	0.66	-0.41	NARI
OM	0.66		-0.37	-0.43	0.79	0.78	-0.65	0.8	-0.1	OM
CLPT	0.04	-0.37		-0.01	-0.04	-0.44	0.06	-0.21	-0.37	CLPT
INSP	-0.47	-0.43	-0.01		-0.58	-0.2	0.43	-0.36	0.43	INSP
PEN	0.89	0.79	-0.04	-0.58		0.72	-0.89	0.82	-0.49	PEN
PODD	0.69	0.78	-0.44	-0.2	0.72		-0.75	0.8	-0.11	PODD
TMDX	-0.83	-0.65	0.06	0.43	-0.89	-0.75		-0.87	0.61	TMDX
MASI	0.66	0.8	-0.21	-0.36	0.82	0.8	-0.87		-0.4	MASI
ALGN	-0.41	-0.1	-0.37	0.43	-0.49	-0.11	0.61	-0.4		ALGN
	NARI	OM	CLPT	INSP	PEN	PODD	TMDX	MASI	ALGN

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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

PEN	+ 0.89	NARI
MASI	+ 0.82	PEN
MASI	+ 0.8	OM
MASI	+ 0.8	PODD
PEN	+ 0.79	OM
PODD	+ 0.78	OM

High negative correlations

TMDX	- 0.89	PEN
MASI	- 0.87	TMDX
TMDX	- 0.83	NARI
TMDX	- 0.75	PODD
TMDX	- 0.65	OM
PEN	- 0.58	INSP

Risk-Adjusted Indicators

There is a big difference between Shockwave Stock performing well and Shockwave Medical 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 Shockwave Medical'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
NARI	2.21	0.25	0.08	0.90	2.06	(2.72)	6.30	(3.84)	19.78
OM	5.20	0.54	0.10	0.65	5.00	(7.03)	15.09	(9.23)	37.20
CLPT	2.68	(0.21)	0.00	(0.01)	0.00	0.00	6.76	(3.91)	24.80
INSP	2.26	(0.12)	(0.01)	0.05	2.79	(2.35)	5.61	(5.11)	16.85
PEN	1.69	0.26	0.09	1.06	1.84	(2.05)	4.55	(2.52)	11.17
PODD	1.21	0.48	0.35	2.61	0.57	(1.48)	3.26	(1.68)	12.33
TMDX	3.20	(1.15)	0.00	(0.48)	0.00	0.00	5.99	(7.44)	39.98
MASI	1.63	0.43	0.32	0.41	1.08	(2.03)	4.84	(2.40)	14.35
ALGN	1.93	(0.20)	0.00	(0.02)	0.00	0.00	4.22	(3.31)	11.73

Shockwave Medical Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Shockwave Medical stock to make a market-neutral strategy. Peer analysis of Shockwave Medical could also be used in its relative valuation, which is a method of valuing Shockwave Medical by comparing valuation metrics with similar companies.

Inari Medical Outset Medical Clearpoint Neuro Inspire Medical Systems Penumbra Insulet TransMedics Group Masimo Align Technology Edwards Lifesciences Corp Stryker DexCom Inc Tandem Diabetes Care American Airlines Group Alcoa Corp

Risk & Return

Correlation

Shockwave Medical Corporate Management

Isaac Zacharias	Chief Officer	Profile
Debbie Kaster	Vice Relations	Profile
FACC FRCP	Chief Officer	Profile
Rob Williamson	VP Sales	Profile
Cathy Harnett	Senior Resources	Profile
Hajime JD	General Secretary	Profile

Still Interested in Shockwave Medical?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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