SurModics Correlations
| SRDX Stock | USD 34.55 1.22 3.66% |
The correlation of SurModics 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SurModics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SurModics moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very good diversification
The correlation between SurModics and NYA is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SurModics and NYA in the same portfolio, assuming nothing else is changed.
SurModics |
The ability to find closely correlated positions to SurModics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SurModics when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back SurModics - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling SurModics to buy it.
Moving together with SurModics Stock
| 0.81 | OM | Outset MedicalInc | PairCorr |
| 0.65 | VERO | Venus Concept Financial Report 20th of May 2024 | PairCorr |
| 0.77 | ECOR | Electrocore LLC Earnings Call This Week | PairCorr |
| 0.66 | VVOS | Vivos TherapeuticsInc | PairCorr |
| 0.61 | ELUT | Elutia Inc Earnings Call This Week | PairCorr |
| 0.67 | ESMC | Escalon Medical Corp Earnings Call This Week | PairCorr |
Moving against SurModics Stock
| 0.74 | DXCM | DexCom Inc | PairCorr |
| 0.72 | ESTA | Establishment Labs Earnings Call This Week | PairCorr |
| 0.62 | EW | Edwards Lifesciences Corp Earnings Call This Week | PairCorr |
| 0.56 | NXL | Nexalin Technology | PairCorr |
| 0.55 | BBLGW | Bone Biologics Corp | PairCorr |
| 0.45 | ELMD | Electromed Earnings Call This Week | PairCorr |
| 0.45 | BSX | Boston Scientific Corp Sell-off Trend | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between SurModics Stock performing well and SurModics 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 SurModics' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| OSA | 6.94 | (2.18) | 0.00 | (0.57) | 0.00 | 7.14 | 100.00 | |||
| LIVN | 1.92 | 0.31 | 0.19 | 0.22 | 1.58 | 5.45 | 15.28 | |||
| ELMD | 2.82 | 0.82 | 0.36 | 0.52 | 1.88 | 6.67 | 31.67 | |||
| KIDS | 2.53 | 0.22 | 0.10 | 0.14 | 2.48 | 6.44 | 15.51 | |||
| NPCE | 3.20 | (0.11) | 0.00 | (0.02) | 0.00 | 6.32 | 24.43 | |||
| INGN | 4.28 | 0.28 | 0.04 | 0.49 | 7.00 | 8.45 | 51.93 | |||
| LUNG | 2.74 | (0.56) | 0.00 | 2.28 | 0.00 | 3.30 | 21.01 | |||
| APYX | 4.89 | (0.70) | 0.00 | 0.68 | 0.00 | 8.41 | 37.06 | |||
| NUVA | 1.34 | 0.09 | 0.00 | (0.06) | 1.52 | 2.53 | 7.86 | |||
| CNMD | 1.95 | (0.44) | 0.00 | (0.95) | 0.00 | 2.96 | 15.54 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in SurModics without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run ETF Categories Now
ETF CategoriesList of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |
| All Next | Launch Module |
SurModics Corporate Directors
SurModics corporate directors refer to members of a SurModics board of directors. The board of directors generally takes responsibility for the SurModics' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of SurModics' board members must vote for the resolution. The SurModics board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Susan Knight | Independent Director | Profile | |
| Ronald Kalich | Independent Director | Profile | |
| Lisa Heine | Director | Profile | |
| Shawn McCormick | Independent Director | Profile |
Already Invested in SurModics?
The danger of trading SurModics is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of SurModics is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than SurModics. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile SurModics is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether SurModics offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of SurModics' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Surmodics Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Surmodics Stock: Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SurModics. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment. For more information on how to buy SurModics Stock please use our How to Invest in SurModics guide.Note that the SurModics information on this page should be used as a complementary analysis to other SurModics' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Complementary Tools for SurModics Stock analysis
When running SurModics' price analysis, check to measure SurModics' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy SurModics is operating at the current time. Most of SurModics' value examination focuses on studying past and present price action to predict the probability of SurModics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move SurModics' price. Additionally, you may evaluate how the addition of SurModics to your portfolios can decrease your overall portfolio volatility.
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges |
Is SurModics' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of SurModics. If investors know SurModics will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about SurModics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of SurModics is measured differently than its book value, which is the value of SurModics that is recorded on the company's balance sheet. Investors also form their own opinion of SurModics' value that differs from its market value or its book value, called intrinsic value, which is SurModics' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because SurModics' market value can be influenced by many factors that don't directly affect SurModics' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between SurModics' value and its price as these two are different measures arrived at by different means. Investors typically determine if SurModics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, SurModics' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.