Electromed, Inc. (ELMD) — Stock Correlations & Overview
Over the past year, ELMD has moved most closely with XHE, GCBC, KIDS. Explore the stocks most correlated and inversely correlated with ELMD below, along with its price, financials, and company profile.
Stocks correlated with ELMD
Correlation of daily returns. Higher positive values move with ELMD; negative values move opposite it. Informational only, not investment advice.
Most correlated with ELMD
| Symbol | Company | Correlation |
|---|---|---|
| XHE | State Street SPDR S&P Health Care Equipment ETF | 0.36 |
| GCBC | Greene County Bancorp IncSAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED | 0.35 |
| KIDS | OrthoPediatrics Corp. Common StockSURGICAL & MEDICAL INSTRUMENTS & APPARATUS | 0.34 |
| IHI | iShares U.S. Medical Devices ETF | 0.34 |
| ATRC | AtriCure, Inc.SURGICAL & MEDICAL INSTRUMENTS & APPARATUS | 0.32 |
Most inversely correlated with ELMD
| Symbol | Company | Correlation |
|---|---|---|
| REI | Ring Energy Inc.CRUDE PETROLEUM & NATURAL GAS | -0.27 |
| RXD | ProShares UltraShort Health Care | -0.26 |
| SCC | ProShares UltraShort Consumer Discretionary | -0.26 |
| UCIB | ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B due April 5, 2038 | -0.25 |
| SEF | ProShares Short Financials | -0.24 |
Frequently asked questions about ELMD correlations
- Which stocks are most correlated with ELMD?
- Based on one year of daily returns, the stocks most correlated with Electromed, Inc. (ELMD) are XHE (0.36), GCBC (0.35) and KIDS (0.34). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with ELMD?
- Over the past year, the stocks most inversely correlated with Electromed, Inc. (ELMD) are REI (-0.27), RXD (-0.26) and SCC (-0.26). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these ELMD correlations calculated?
- We compute the correlation of daily returns between ELMD and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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