Tactile Systems Technology, Inc. (TCMD) — Stock Correlations & Overview
Over the past year, TCMD has moved most closely with UFPT, HSIC, IHRT. Explore the stocks most correlated and inversely correlated with TCMD below, along with its price, financials, and company profile.
Stocks correlated with TCMD
Correlation of daily returns. Higher positive values move with TCMD; negative values move opposite it. Informational only, not investment advice.
Most correlated with TCMD
| Symbol | Company | Correlation |
|---|---|---|
| UFPT | UFP Technologies IncSURGICAL & MEDICAL INSTRUMENTS & APPARATUS | 0.48 |
| HSIC | Henry Schein IncWHOLESALE-MEDICAL, DENTAL & HOSPITAL EQUIPMENT & SUPPLIES | 0.47 |
| IHRT | iHeartMedia, Inc. Class A Common StockRADIO BROADCASTING STATIONS | 0.45 |
| XHE | State Street SPDR S&P Health Care Equipment ETF | 0.44 |
| CSTL | Castle Biosciences, Inc. Common StockSERVICES-MEDICAL LABORATORIES | 0.43 |
Most inversely correlated with TCMD
| Symbol | Company | Correlation |
|---|---|---|
| PLAG | Planet Green Holdings Corp.CANNED, FROZEN & PRESERVD FRUIT, VEG & FOOD SPECIALTIES | -0.28 |
| OXY | Occidental Petroleum CorporationCRUDE PETROLEUM & NATURAL GAS | -0.28 |
| OXY.WS | Occidental Petroleum Corporation Warrants to Purchase Common StockCRUDE PETROLEUM & NATURAL GAS | -0.27 |
| SBB | ProShares Short SmallCap600 | -0.27 |
| SEF | ProShares Short Financials | -0.27 |
Frequently asked questions about TCMD correlations
- Which stocks are most correlated with TCMD?
- Based on one year of daily returns, the stocks most correlated with Tactile Systems Technology, Inc. (TCMD) are UFPT (0.48), HSIC (0.47) and IHRT (0.45). 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 TCMD?
- Over the past year, the stocks most inversely correlated with Tactile Systems Technology, Inc. (TCMD) are PLAG (-0.28), OXY (-0.28) and OXY.WS (-0.27). 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 TCMD correlations calculated?
- We compute the correlation of daily returns between TCMD 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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