Outset MedicalInc Correlations
| OM Stock | USD 2.46 0.12 5.13% |
The correlation of Outset MedicalInc 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 Outset MedicalInc moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Outset MedicalInc 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 weak diversification
The correlation between Outset MedicalInc and NYA is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Outset MedicalInc and NYA in the same portfolio, assuming nothing else is changed.
Outset |
The ability to find closely correlated positions to Outset MedicalInc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Outset MedicalInc 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 Outset MedicalInc - 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 Outset MedicalInc to buy it.
Moving together with Outset Stock
| 0.86 | DH | Definitive Healthcare Financial Report 2nd of May 2024 | PairCorr |
| 0.78 | GH | Guardant Health Financial Report 14th of May 2024 | PairCorr |
| 0.76 | HCAT | Health Catalyst Financial Report 14th of May 2024 | PairCorr |
| 0.74 | HSTM | HealthStream Upward Rally | PairCorr |
| 0.66 | ICCM | Icecure Medical Financial Report 27th of May 2024 | PairCorr |
| 0.65 | PRVA | Privia Health Group Financial Report 2nd of May 2024 | PairCorr |
Moving against Outset Stock
| 0.8 | STIM | Neuronetics Financial Report 14th of May 2024 | PairCorr |
| 0.76 | AGTI | Agiliti Sell-off Trend | PairCorr |
| 0.5 | FORA | Forian Inc Financial Report 10th of May 2024 | PairCorr |
| 0.49 | RCM | R1 RCM Inc Financial Report 2nd of May 2024 | PairCorr |
| 0.43 | AIMD | Ainos Inc | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Outset Stock performing well and Outset MedicalInc 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 Outset MedicalInc'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HSTM | 1.06 | (0.23) | 0.00 | (0.24) | 0.00 | 1.88 | 4.67 | |||
| NRC | 1.21 | (0.32) | 0.00 | (0.20) | 0.00 | 2.27 | 13.13 | |||
| HQY | 1.07 | 0.10 | 0.04 | 0.37 | 1.17 | 2.43 | 6.23 | |||
| HCAT | 2.90 | (0.98) | 0.00 | (0.37) | 0.00 | 4.85 | 14.54 | |||
| DH | 2.45 | (0.34) | 0.00 | (0.06) | 0.00 | 5.45 | 13.17 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Outset MedicalInc 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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Outset MedicalInc Corporate Management
Elected by the shareholders, the Outset MedicalInc's board of directors comprises two types of representatives: Outset MedicalInc inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Outset. The board's role is to monitor Outset MedicalInc's management team and ensure that shareholders' interests are well served. Outset MedicalInc'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, Outset MedicalInc's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Stacey Porter | Chief Officer | Profile | |
| Mark MS | Chief Officer | Profile | |
| Steven Williamson | Chief Officer | Profile | |
| Marc Nash | Senior RD | Profile | |
| Martin Vazquez | Chief Officer | Profile | |
| John Brottem | General Secretary | Profile |
Already Invested in Outset MedicalInc?
The danger of trading Outset MedicalInc 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 Outset MedicalInc 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 Outset MedicalInc. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Outset MedicalInc 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 Outset MedicalInc is a strong investment it is important to analyze Outset MedicalInc'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 Outset MedicalInc's future performance. For an informed investment choice regarding Outset Stock, refer to the following important reports: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Outset MedicalInc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in population. To learn how to invest in Outset Stock, please use our How to Invest in Outset MedicalInc guide.You can also try the CEOs Directory module to screen CEOs from public companies around the world.
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When running Outset MedicalInc's price analysis, check to measure Outset MedicalInc'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 Outset MedicalInc is operating at the current time. Most of Outset MedicalInc's value examination focuses on studying past and present price action to predict the probability of Outset MedicalInc's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Outset MedicalInc's price. Additionally, you may evaluate how the addition of Outset MedicalInc to your portfolios can decrease your overall portfolio volatility.
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Is Outset MedicalInc'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 Outset MedicalInc. If investors know Outset 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 Outset MedicalInc listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (3.48) | Revenue Per Share 2.629 | Quarterly Revenue Growth (0.05) | Return On Assets (0.30) | Return On Equity (0.94) |
The market value of Outset MedicalInc is measured differently than its book value, which is the value of Outset that is recorded on the company's balance sheet. Investors also form their own opinion of Outset MedicalInc's value that differs from its market value or its book value, called intrinsic value, which is Outset MedicalInc'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 Outset MedicalInc's market value can be influenced by many factors that don't directly affect Outset MedicalInc'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 Outset MedicalInc's value and its price as these two are different measures arrived at by different means. Investors typically determine if Outset MedicalInc is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Outset MedicalInc'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.