Tela Bio Correlations

TELA Stock

USD 2.13 0.15 7.58%

The current 90-days correlation between Tela Bio and Avita Medical is -0.04 (i.e., Good diversification). The correlation of Tela Bio 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.

Tela Bio Correlation With Market

Modest diversification

The correlation between Tela Bio and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tela Bio and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tela Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tela Bio. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For information on how to trade Tela Stock refer to our How to Trade Tela Stock guide.

Moving together with Tela Stock

0.88	DH	Definitive Healthcare	Pair Corr
0.71	LH	Laboratory Earnings Call This Week	Pair Corr
0.79	OM	Outset Medical	Pair Corr
0.9	VEEV	Veeva Systems Class	Pair Corr
0.76	VNRX	Volitionrx	Pair Corr
0.7	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.88	FIGS	Figs Inc	Pair Corr
0.92	MDAI	Spectral AI	Pair Corr
0.71	MHUA	Meihua International	Pair Corr

Moving against Tela Stock

0.57	CI	Cigna Corp	Pair Corr
0.9	EKSO	Ekso Bionics Holdings	Pair Corr
0.82	EMBC	Embecta Corp	Pair Corr
0.75	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.7	ELMD	Electromed	Pair Corr
0.61	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.49	ELAB	Elevai Labs, Common	Pair Corr
0.49	ICCM	Icecure Medical	Pair Corr
0.48	EDAP	EDAP TMS SA	Pair Corr
0.87	MODD	Modular Medical	Pair Corr
0.85	NXLIW	Nexalin Technology	Pair Corr
0.84	MNDR	Mobile health Network	Pair Corr
0.79	NAOV	NanoVibronix	Pair Corr
0.75	MLSS	Milestone Scientific	Pair Corr
0.73	MXCT	MaxCyte	Pair Corr

Related Correlations Analysis

	TBIO	RCEL	CLPT	SGHT	TMCI	XGN	PHAT	KROS	TARA
TBIO		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	TBIO
RCEL	0.0		0.68	-0.78	0.79	-0.66	-0.72	0.14	0.82	RCEL
CLPT	0.0	0.68		-0.34	0.73	-0.22	-0.61	0.37	0.44	CLPT
SGHT	0.0	-0.78	-0.34		-0.72	0.79	0.73	-0.04	-0.66	SGHT
TMCI	0.0	0.79	0.73	-0.72		-0.57	-0.73	0.03	0.48	TMCI
XGN	0.0	-0.66	-0.22	0.79	-0.57		0.62	0.18	-0.71	XGN
PHAT	0.0	-0.72	-0.61	0.73	-0.73	0.62		-0.3	-0.52	PHAT
KROS	0.0	0.14	0.37	-0.04	0.03	0.18	-0.3		0.09	KROS
TARA	0.0	0.82	0.44	-0.66	0.48	-0.71	-0.52	0.09		TARA
	TBIO	RCEL	CLPT	SGHT	TMCI	XGN	PHAT	KROS	TARA

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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

TARA	+ 0.82	RCEL
TMCI	+ 0.79	RCEL
XGN	+ 0.79	SGHT
TMCI	+ 0.73	CLPT
PHAT	+ 0.73	SGHT
CLPT	+ 0.68	RCEL

High negative correlations

SGHT	- 0.78	RCEL
PHAT	- 0.73	TMCI
TMCI	- 0.72	SGHT
PHAT	- 0.72	RCEL
TARA	- 0.71	XGN
TARA	- 0.66	SGHT

Risk-Adjusted Indicators

There is a big difference between Tela Stock performing well and Tela Bio 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 Tela Bio'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
TBIO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RCEL	3.28	(0.91)	0.00	(0.47)	0.00	0.00	6.45	(4.79)	30.90
CLPT	3.03	(0.24)	(0.03)	0.00	3.88	(3.13)	7.22	(5.70)	20.31
SGHT	3.38	0.47	0.10	0.46	4.55	(3.68)	7.36	(4.92)	25.67
TMCI	2.27	(0.43)	0.00	(0.16)	0.00	0.00	4.17	(5.56)	14.27
XGN	3.28	0.56	0.15	0.59	3.49	(3.78)	7.09	(5.85)	27.99
PHAT	6.43	1.16	0.20	0.60	6.03	(8.41)	10.95	(10.96)	99.31
KROS	1.54	0.14	0.00	(1.51)	2.20	(1.59)	3.36	(4.23)	10.31
TARA	3.22	(0.55)	0.00	(0.25)	0.00	0.00	7.05	(5.57)	25.12

Tela Bio Corporate Management

Taylor Ocasio	General Secretary	Profile
Antony Koblish	President, Cofounder	Profile
Louisa Smith	Investor Officer	Profile
Skott Greenhalgh	Chief Officer	Profile
Jennifer Armstrong	Senior Resources	Profile
Christopher Smith	VP Sales	Profile

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