Orthofix Medical Correlations

OFIX Stock

USD 14.20 0.03 0.21%

The current 90-days correlation between Orthofix Medical and CONMED is 0.34 (i.e., Weak 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

Weak diversification

The correlation between Orthofix Medical and DJI is 0.33 (i.e., Weak 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 census.

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

Moving together with Orthofix Stock

0.83	TFX	Teleflex Incorporated	Pair Corr
0.65	WST	West Pharmaceutical	Pair Corr
0.9	IRMD	Iradimed	Pair Corr
0.84	AIMD	Ainos Inc	Pair Corr
0.9	PTAIY	Astra International Tbk	Pair Corr
0.85	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.7	PTBRY	Bank Negara Indonesia	Pair Corr
0.69	UI	Ubiquiti Networks	Pair Corr
0.7	NTIP	Network 1 Technologies	Pair Corr
0.7	KTOS	Kratos Defense Security	Pair Corr
0.79	94986RYP0	US94986RYP09	Pair Corr
0.81	DOMH	Dominari Holdings	Pair Corr
0.97	AGPYY	Agile Group Holdings	Pair Corr
0.72	PYTCF	Playtech plc	Pair Corr
0.84	DSVSF	Discovery Metals Corp	Pair Corr
0.64	BMEZ	BlackRock Health Sciences	Pair Corr

Moving against Orthofix Stock

0.9	LNTH	Lantheus Holdings	Pair Corr
0.81	BTMD	biote Corp	Pair Corr
0.78	ALC	Alcon AG	Pair Corr
0.69	BKRKF	PT Bank Rakyat	Pair Corr
0.63	PTAIF	PT Astra International	Pair Corr
0.6	PPERF	Bank Mandiri Persero	Pair Corr
0.58	COO	Cooper Companies,	Pair Corr
0.56	PBCRY	Bank Central Asia	Pair Corr
0.33	PPERY	Bank Mandiri Persero	Pair Corr
0.39	FORLW	Four Leaf Acquisition	Pair Corr
0.31	LLY	Eli Lilly Sell-off Trend	Pair Corr

Related Correlations Analysis

	CNMD	KIDS	LUNG	SIBN	MMSI	ICUI	IART
CNMD		0.17	-0.32	0.34	0.59	0.21	0.41	CNMD
KIDS	0.17		0.81	0.85	0.47	0.43	-0.35	KIDS
LUNG	-0.32	0.81		0.67	0.12	0.27	-0.64	LUNG
SIBN	0.34	0.85	0.67		0.58	0.47	-0.43	SIBN
MMSI	0.59	0.47	0.12	0.58		0.47	0.19	MMSI
ICUI	0.21	0.43	0.27	0.47	0.47		0.15	ICUI
IART	0.41	-0.35	-0.64	-0.43	0.19	0.15		IART
	CNMD	KIDS	LUNG	SIBN	MMSI	ICUI	IART

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

SIBN	+ 0.85	KIDS
LUNG	+ 0.81	KIDS
SIBN	+ 0.67	LUNG
MMSI	+ 0.59	CNMD
MMSI	+ 0.58	SIBN
MMSI	+ 0.47	KIDS

High negative correlations

IART	- 0.64	LUNG
IART	- 0.43	SIBN
IART	- 0.35	KIDS
LUNG	- 0.32	CNMD

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
CNMD	2.04	(0.32)	0.00	(0.11)	0.00	0.00	3.44	(4.42)	10.36
KIDS	2.35	(0.41)	0.00	(0.11)	0.00	0.00	5.39	(4.78)	15.38
LUNG	4.38	(0.70)	0.00	(0.08)	0.00	0.00	8.88	(7.59)	58.25
SIBN	1.98	(0.45)	0.00	(0.16)	0.00	0.00	3.50	(3.92)	14.11
MMSI	1.38	(0.21)	0.00	(0.17)	0.00	0.00	2.51	(3.13)	14.94
ICUI	1.95	(0.22)	0.00	(0.08)	0.00	0.00	3.76	(4.21)	16.90
IART	2.91	(0.01)	0.03	0.05	3.39	(3.08)	6.22	(5.49)	16.75

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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