Orthofix Medical Correlations

OFIX Stock

USD 15.03 0.07 0.47%

The current 90-days correlation between Orthofix Medical and Pacific Biosciences of is 0.19 (i.e., Average diversification). The correlation of Orthofix Medical 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Orthofix Medical Correlation With Market

Modest diversification

The correlation between Orthofix Medical and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orthofix Medical and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Orthofix Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Orthofix Medical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more information on how to buy Orthofix Stock please use our How to Invest in Orthofix Medical guide.

Moving together with Orthofix Stock

0.65	AA	Alcoa Corp	Pair Corr
0.76	AXP	American Express Sell-off Trend	Pair Corr
0.75	BAC	Bank of America	Pair Corr
0.65	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.64	MMM	3M Company	Pair Corr

Moving against Orthofix Stock

0.65	TRNR	Interactive Strength Earnings Call This Week	Pair Corr
0.47	VZ	Verizon Communications	Pair Corr
0.38	T	ATT Inc Aggressive Push	Pair Corr
0.35	BA	Boeing	Pair Corr

Related Correlations Analysis

	PACB	SIBN	VREX	BFLY	AVNS	ABSI	DRIO	MLTX	LAB	ESPR
PACB		-0.09	0.29	0.74	-0.27	0.85	0.6	-0.76	-0.28	0.5	PACB
SIBN	-0.09		-0.36	-0.45	0.21	-0.25	-0.34	0.38	-0.14	-0.41	SIBN
VREX	0.29	-0.36		0.49	0.44	0.2	0.26	-0.33	0.07	0.66	VREX
BFLY	0.74	-0.45	0.49		-0.19	0.76	0.7	-0.82	-0.03	0.71	BFLY
AVNS	-0.27	0.21	0.44	-0.19		-0.38	-0.36	0.38	0.42	0.27	AVNS
ABSI	0.85	-0.25	0.2	0.76	-0.38		0.71	-0.87	-0.07	0.49	ABSI
DRIO	0.6	-0.34	0.26	0.7	-0.36	0.71		-0.86	-0.15	0.48	DRIO
MLTX	-0.76	0.38	-0.33	-0.82	0.38	-0.87	-0.86		0.17	-0.63	MLTX
LAB	-0.28	-0.14	0.07	-0.03	0.42	-0.07	-0.15	0.17		0.07	LAB
ESPR	0.5	-0.41	0.66	0.71	0.27	0.49	0.48	-0.63	0.07		ESPR
	PACB	SIBN	VREX	BFLY	AVNS	ABSI	DRIO	MLTX	LAB	ESPR

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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

ABSI	+ 0.85	PACB
ABSI	+ 0.76	BFLY
BFLY	+ 0.74	PACB
ESPR	+ 0.71	BFLY
DRIO	+ 0.71	ABSI
DRIO	+ 0.7	BFLY

High negative correlations

MLTX	- 0.87	ABSI
MLTX	- 0.86	DRIO
MLTX	- 0.82	BFLY
MLTX	- 0.76	PACB
ESPR	- 0.63	MLTX
BFLY	- 0.45	SIBN

Risk-Adjusted Indicators

There is a big difference between Orthofix Stock performing well and Orthofix Medical 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 Orthofix Medical'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
PACB	4.42	0.22	0.12	0.14	4.31	(5.54)	9.52	(7.19)	31.45
SIBN	1.79	(0.19)	0.00	(0.02)	0.00	0.00	3.88	(3.82)	11.78
VREX	2.08	0.48	0.25	0.29	1.83	(2.40)	5.81	(4.08)	26.82
BFLY	4.63	0.56	0.18	0.23	4.21	(5.68)	15.95	(5.99)	42.22
AVNS	1.73	(0.04)	0.00	0.06	2.13	(1.87)	3.54	(3.10)	10.59
ABSI	4.57	0.06	0.06	0.11	4.22	(5.77)	11.76	(6.96)	35.19
DRIO	6.49	0.56	0.09	0.63	5.75	(8.58)	18.24	(9.87)	53.86
MLTX	4.49	(0.23)	0.00	(1.03)	0.00	0.00	9.38	(4.91)	99.87
LAB	2.73	(0.35)	0.00	(0.07)	0.00	0.00	4.69	(6.30)	14.73
ESPR	3.67	0.50	0.12	0.32	4.77	(4.15)	7.51	(6.34)	30.62

Orthofix Medical Corporate Management

Geoffrey Gillespie	VP Controller	Profile
Julie Dewey	Chief Officer	Profile
Andres Cedron	Chief Secretary	Profile
Stephanie Walsh	Chief Officer	Profile
Lucas Vitale	Chief Officer	Profile
Frank Vizesi	Chief Officer	Profile

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