Xtant Medical Correlations

XTNT Stock

USD 0.64 0.05 8.47%

The current 90-days correlation between Xtant Medical Holdings and Neuropace is 0.26 (i.e., Modest diversification). The correlation of Xtant 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.

Xtant Medical Correlation With Market

Significant diversification

The correlation between Xtant Medical Holdings and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xtant Medical Holdings and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Xtant Medical Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Xtant Stock

0.72	DH	Definitive Healthcare	Pair Corr
0.7	VEEV	Veeva Systems Class	Pair Corr
0.87	EHAB	Enhabit	Pair Corr
0.8	ENSG	Ensign Group	Pair Corr
0.72	CAH	Cardinal Health	Pair Corr
0.7	EHC	Encompass Health Corp	Pair Corr
0.81	HCA	HCA Holdings	Pair Corr
0.78	NHC	National HealthCare	Pair Corr
0.8	THC	Tenet Healthcare	Pair Corr
0.88	INNV	InnovAge Holding Corp	Pair Corr
0.69	PNTG	Pennant Group	Pair Corr
0.71	RDNT	RadNet Inc	Pair Corr
0.63	ADUS	Addus HomeCare	Pair Corr

Moving against Xtant Stock

0.78	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.76	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.65	CVS	CVS Health Corp	Pair Corr
0.53	GDRX	Goodrx Holdings	Pair Corr
0.51	SEM	Select Medical Holdings	Pair Corr
0.5	DVA	DaVita HealthCare	Pair Corr
0.48	TFX	Teleflex Incorporated	Pair Corr
0.69	MXCT	MaxCyte	Pair Corr
0.61	MNDR	Mobile health Network	Pair Corr
0.53	WINT	Windtree Therapeutics	Pair Corr
0.51	PGNY	Progyny	Pair Corr
0.37	VALN	Valneva SE ADR	Pair Corr
0.33	ACHC	Acadia Healthcare	Pair Corr

Related Correlations Analysis

	NPCE	ELMD	KIDS	SRDX	FNA	OSA	LIVN	ANIK	HSKA	AIMD
NPCE		-0.31	0.27	0.03	0.16	0.0	0.39	-0.27	0.0	-0.05	NPCE
ELMD	-0.31		0.51	0.04	0.58	0.0	-0.71	0.88	0.0	-0.34	ELMD
KIDS	0.27	0.51		0.26	0.33	0.0	-0.04	0.49	0.0	-0.39	KIDS
SRDX	0.03	0.04	0.26		-0.12	0.0	0.24	-0.03	0.0	-0.01	SRDX
FNA	0.16	0.58	0.33	-0.12		0.0	-0.51	0.54	0.0	-0.26	FNA
OSA	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	OSA
LIVN	0.39	-0.71	-0.04	0.24	-0.51	0.0		-0.77	0.0	0.22	LIVN
ANIK	-0.27	0.88	0.49	-0.03	0.54	0.0	-0.77		0.0	-0.32	ANIK
HSKA	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HSKA
AIMD	-0.05	-0.34	-0.39	-0.01	-0.26	0.0	0.22	-0.32	0.0		AIMD
	NPCE	ELMD	KIDS	SRDX	FNA	OSA	LIVN	ANIK	HSKA	AIMD

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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

ANIK	+ 0.88	ELMD
FNA	+ 0.58	ELMD
ANIK	+ 0.54	FNA
KIDS	+ 0.51	ELMD
ANIK	+ 0.49	KIDS
LIVN	+ 0.39	NPCE

High negative correlations

ANIK	- 0.77	LIVN
LIVN	- 0.71	ELMD
LIVN	- 0.51	FNA
AIMD	- 0.39	KIDS
AIMD	- 0.34	ELMD
AIMD	- 0.32	ANIK

Risk-Adjusted Indicators

There is a big difference between Xtant Stock performing well and Xtant 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 Xtant 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
NPCE	3.68	(0.13)	0.00	(0.14)	0.00	0.00	5.82	(8.58)	48.86
ELMD	1.93	(0.15)	0.00	(0.13)	0.00	0.00	3.41	(5.05)	21.71
KIDS	2.14	(0.23)	0.00	(0.15)	0.00	0.00	4.77	(4.51)	15.25
SRDX	1.46	(0.06)	0.00	(0.09)	0.00	0.00	3.25	(2.80)	15.01
FNA	0.15	0.02	(0.12)	(1.98)	0.00	(0.31)	0.77	(0.23)	0.77
OSA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIVN	2.09	0.24	0.10	0.27	2.17	(2.37)	4.42	(4.08)	26.73
ANIK	2.36	(0.45)	0.00	(0.47)	0.00	0.00	4.08	(4.63)	27.27
HSKA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AIMD	3.88	0.09	0.02	0.16	4.03	(6.46)	10.20	(8.62)	36.17

Xtant Medical Corporate Management

Scott Neils	Chief Officer	Profile
Kevin ODare	VP US	Profile
Catherine Lundy	Vice Resources	Profile
Mark Schallenberger	Chief Officer	Profile

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