Electrocore LLC Correlations
| ECOR Stock | USD 5.59 0.08 1.45% |
The correlation of Electrocore LLC 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 Electrocore LLC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Electrocore LLC 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.
Significant diversification
The correlation between Electrocore LLC and NYA is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electrocore LLC and NYA in the same portfolio, assuming nothing else is changed.
Electrocore |
The ability to find closely correlated positions to Electrocore LLC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Electrocore LLC 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 Electrocore LLC - 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 Electrocore LLC to buy it.
Moving together with Electrocore Stock
| 0.8 | EMBC | Embecta Corp Financial Report 10th of May 2024 | PairCorr |
| 0.7 | AHG | Akso Health Group | PairCorr |
| 0.75 | IVP | Inspire Veterinary | PairCorr |
| 0.76 | TFX | Teleflex Incorporated Financial Report 2nd of May 2024 | PairCorr |
Moving against Electrocore Stock
| 0.81 | GCTK | GlucoTrack | PairCorr |
| 0.59 | ELMD | Electromed | PairCorr |
| 0.54 | ALC | Alcon AG Financial Report 14th of May 2024 | PairCorr |
| 0.52 | BAX | Baxter International Sell-off Trend | PairCorr |
| 0.46 | FEMY | Femasys Financial Report 9th of May 2024 | PairCorr |
| 0.44 | CAH | Cardinal Health Financial Report 2nd of May 2024 | PairCorr |
| 0.84 | TNDM | Tandem Diabetes Care Financial Report 1st of May 2024 | PairCorr |
| 0.8 | SNDA | Sonida Senior Living | PairCorr |
| 0.67 | HIMS | Hims Hers Health Financial Report 13th of May 2024 | 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
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Risk-Adjusted Indicators
There is a big difference between Electrocore Stock performing well and Electrocore LLC 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 Electrocore LLC'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SSKN | 3.17 | 0.04 | 0.00 | 0.03 | 0.00 | 6.38 | 22.84 | |||
| SGHT | 3.26 | 0.08 | 0.02 | 0.09 | 4.45 | 6.69 | 25.65 | |||
| DYNT | 4.05 | 0.39 | 0.04 | (0.37) | 5.65 | 9.52 | 42.75 | |||
| AZYO | 4.69 | (0.27) | 0.00 | 0.25 | 0.00 | 8.39 | 30.62 | |||
| NPCE | 3.36 | 0.30 | 0.07 | 0.27 | 4.40 | 7.85 | 24.43 | |||
| IRIX | 3.12 | 0.05 | 0.03 | 0.07 | 3.60 | 6.25 | 23.91 | |||
| NVNO | 3.44 | 0.27 | 0.08 | 0.22 | 3.62 | 7.68 | 28.65 | |||
| PETV | 3.71 | (0.86) | 0.00 | (0.43) | 0.00 | 6.87 | 57.43 | |||
| TLIS | 1.78 | 0.06 | 0.01 | 0.25 | 1.97 | 4.78 | 14.70 | |||
| TNON | 4.67 | (0.91) | 0.00 | (1.26) | 0.00 | 8.74 | 40.68 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Electrocore LLC 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?
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Electrocore LLC Corporate Directors
Electrocore LLC corporate directors refer to members of an Electrocore LLC board of directors. The board of directors generally takes responsibility for the Electrocore LLC's 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 Electrocore LLC's board members must vote for the resolution. The Electrocore LLC board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Trevor Moody | Director | Profile | |
| Michael Atieh | Director | Profile | |
| Nick Colucci | Director | Profile | |
| James Tullis | Director | Profile |
Already Invested in Electrocore LLC?
The danger of trading Electrocore LLC 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 Electrocore LLC 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 Electrocore LLC. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Electrocore LLC 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 Electrocore LLC is a strong investment it is important to analyze Electrocore LLC's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Electrocore LLC's future performance. For an informed investment choice regarding Electrocore Stock, refer to the following important reports: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Electrocore LLC. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. To learn how to invest in Electrocore Stock, please use our How to Invest in Electrocore LLC guide.You can also try the Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
Complementary Tools for Electrocore Stock analysis
When running Electrocore LLC's price analysis, check to measure Electrocore LLC's 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 Electrocore LLC is operating at the current time. Most of Electrocore LLC's value examination focuses on studying past and present price action to predict the probability of Electrocore LLC's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Electrocore LLC's price. Additionally, you may evaluate how the addition of Electrocore LLC to your portfolios can decrease your overall portfolio volatility.
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Is Electrocore LLC's 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 Electrocore LLC. If investors know Electrocore 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 Electrocore LLC listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (3.42) | Revenue Per Share 2.907 | Quarterly Revenue Growth 1.028 | Return On Assets (0.58) | Return On Equity (1.54) |
The market value of Electrocore LLC is measured differently than its book value, which is the value of Electrocore that is recorded on the company's balance sheet. Investors also form their own opinion of Electrocore LLC's value that differs from its market value or its book value, called intrinsic value, which is Electrocore LLC's 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 Electrocore LLC's market value can be influenced by many factors that don't directly affect Electrocore LLC's 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 Electrocore LLC's value and its price as these two are different measures arrived at by different means. Investors typically determine if Electrocore LLC is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Electrocore LLC's 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.