Orthofix Medical Correlations

OFIX Stock

USD 10.63 0.22 2.03%

The current 90-days correlation between Orthofix Medical and CONMED is 0.36 (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

Very weak diversification

The correlation between Orthofix Medical and DJI is 0.56 (i.e., Very 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 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

0.69	CI	Cigna Corp	Pair Corr
0.89	EKSO	Ekso Bionics Holdings	Pair Corr
0.78	ELMD	Electromed	Pair Corr
0.79	EMBC	Embecta Corp	Pair Corr
0.8	ICCM	Icecure Medical	Pair Corr
0.77	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.64	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.69	MNDR	Mobile health Network	Pair Corr

Moving against Orthofix Stock

0.85	OM	Outset Medical	Pair Corr
0.83	VEEV	Veeva Systems Class	Pair Corr
0.81	DH	Definitive Healthcare	Pair Corr
0.74	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.73	LH	Laboratory Earnings Call This Week	Pair Corr
0.64	VNRX	Volitionrx	Pair Corr
0.47	EW	Edwards Lifesciences Corp Earnings Call This Week	Pair Corr
0.37	MD	Mednax Inc	Pair Corr
0.85	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.74	FIGS	Figs Inc	Pair Corr
0.69	MDAI	Spectral AI	Pair Corr
0.38	ABT	Abbott Laboratories	Pair Corr
0.31	VVOS	Vivos Therapeutics	Pair Corr
0.76	NAKA	Kindly MD, Symbol Change	Pair Corr
0.74	MHUA	Meihua International	Pair Corr
0.66	MODV	ModivCare	Pair Corr
0.48	NEUE	NeueHealth	Pair Corr

Related Correlations Analysis

	CNMD	KIDS	LUNG	SIBN	MMSI	ICUI	IART
CNMD		0.32	-0.29	0.66	0.71	0.38	-0.22	CNMD
KIDS	0.32		-0.15	0.34	0.23	0.35	-0.09	KIDS
LUNG	-0.29	-0.15		-0.78	0.02	0.48	0.89	LUNG
SIBN	0.66	0.34	-0.78		0.39	-0.14	-0.72	SIBN
MMSI	0.71	0.23	0.02	0.39		0.59	0.14	MMSI
ICUI	0.38	0.35	0.48	-0.14	0.59		0.56	ICUI
IART	-0.22	-0.09	0.89	-0.72	0.14	0.56		IART
	CNMD	KIDS	LUNG	SIBN	MMSI	ICUI	IART

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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

IART	+ 0.89	LUNG
MMSI	+ 0.71	CNMD
SIBN	+ 0.66	CNMD
ICUI	+ 0.59	MMSI
IART	+ 0.56	ICUI
ICUI	+ 0.48	LUNG

High negative correlations

SIBN	- 0.78	LUNG
IART	- 0.72	SIBN
LUNG	- 0.29	CNMD
IART	- 0.22	CNMD
LUNG	- 0.15	KIDS
ICUI	- 0.14	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
CNMD	1.99	(0.26)	0.00	(0.04)	0.00	0.00	3.82	(4.07)	20.87
KIDS	1.83	(0.10)	(0.02)	0.06	2.24	(1.88)	4.06	(3.51)	11.10
LUNG	4.06	(0.67)	0.00	(4.92)	0.00	0.00	7.78	(9.06)	27.26
SIBN	2.21	0.26	0.08	0.42	2.61	(2.28)	4.92	(4.35)	23.85
MMSI	1.17	(0.27)	0.00	(0.21)	0.00	0.00	2.53	(2.15)	14.94
ICUI	1.68	(0.32)	0.00	(0.19)	0.00	0.00	3.69	(3.98)	11.56
IART	2.97	(0.89)	0.00	(0.19)	0.00	0.00	5.84	(5.53)	25.14

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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