Alphatec Holdings Correlations

ATEC Stock

USD 12.14 0.68 5.93%

The current 90-days correlation between Alphatec Holdings and Orthofix Medical is 0.15 (i.e., Average diversification). The correlation of Alphatec Holdings 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.

Alphatec Holdings Correlation With Market

Average diversification

The correlation between Alphatec Holdings and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alphatec Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alphatec 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 income.

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

Moving together with Alphatec Stock

0.65	EHAB	Enhabit	Pair Corr
0.87	CAH	Cardinal Health Sell-off Trend	Pair Corr
0.75	LNSR	LENSAR Inc	Pair Corr
0.63	MMSI	Merit Medical Systems	Pair Corr
0.73	BMY	Bristol Myers Squibb Earnings Call Tomorrow	Pair Corr

Moving against Alphatec Stock

0.76	TFX	Teleflex Incorporated	Pair Corr
0.7	UPC	Universe Pharmaceuticals	Pair Corr
0.64	INNV	InnovAge Holding Corp	Pair Corr
0.55	PNTG	Pennant Group	Pair Corr
0.54	LLY	Eli Lilly Earnings Call Tomorrow	Pair Corr
0.5	ENSG	Ensign Group	Pair Corr
0.48	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.45	NHC	National HealthCare	Pair Corr
0.45	JNJ	Johnson Johnson	Pair Corr
0.36	PFE	Pfizer Inc	Pair Corr
0.35	SNDA	Sonida Senior Living	Pair Corr
0.67	AQST	Aquestive Therapeutics	Pair Corr
0.63	688198	Beijing Balance Medical	Pair Corr
0.63	301367	BMC Medical	Pair Corr
0.61	SHPH	Shuttle Pharmaceuticals	Pair Corr
0.59	300869	Contec Medical Systems	Pair Corr
0.58	DERM	Journey Medical Corp Trending	Pair Corr
0.57	600587	Shinva Medical Instrument	Pair Corr
0.55	301370	GKHT Medical Technology	Pair Corr
0.48	002382	Blue Sail Medical	Pair Corr
0.45	AMGN	Amgen Inc	Pair Corr
0.44	ABBV	AbbVie Inc Sell-off Trend	Pair Corr
0.38	PTPI	Petros Pharmaceuticals	Pair Corr
0.34	SNOA	Sonoma Pharmaceuticals Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	GMED	OFIX	CNMD	LIVN	KIDS	ITGR	TMCI	ESTA	NUVA	LUNG
GMED		0.47	0.16	-0.31	-0.03	0.84	0.91	-0.67	0.04	-0.3	GMED
OFIX	0.47		0.8	0.34	0.07	0.73	0.71	-0.11	-0.28	0.1	OFIX
CNMD	0.16	0.8		0.36	0.05	0.45	0.43	0.19	-0.35	0.26	CNMD
LIVN	-0.31	0.34	0.36		0.27	0.05	-0.09	0.12	0.07	0.03	LIVN
KIDS	-0.03	0.07	0.05	0.27		-0.07	-0.07	0.01	0.47	0.38	KIDS
ITGR	0.84	0.73	0.45	0.05	-0.07		0.9	-0.49	-0.2	-0.22	ITGR
TMCI	0.91	0.71	0.43	-0.09	-0.07	0.9		-0.54	-0.1	-0.2	TMCI
ESTA	-0.67	-0.11	0.19	0.12	0.01	-0.49	-0.54		-0.31	0.47	ESTA
NUVA	0.04	-0.28	-0.35	0.07	0.47	-0.2	-0.1	-0.31		0.0	NUVA
LUNG	-0.3	0.1	0.26	0.03	0.38	-0.22	-0.2	0.47	0.0		LUNG
	GMED	OFIX	CNMD	LIVN	KIDS	ITGR	TMCI	ESTA	NUVA	LUNG

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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

TMCI	+ 0.91	GMED
TMCI	+ 0.9	ITGR
ITGR	+ 0.84	GMED
CNMD	+ 0.8	OFIX
ITGR	+ 0.73	OFIX
TMCI	+ 0.71	OFIX

High negative correlations

ESTA	- 0.67	GMED
ESTA	- 0.54	TMCI
ESTA	- 0.49	ITGR
NUVA	- 0.35	CNMD
NUVA	- 0.31	ESTA
LIVN	- 0.31	GMED

Risk-Adjusted Indicators

There is a big difference between Alphatec Stock performing well and Alphatec Holdings 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 Alphatec Holdings' 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
GMED	1.05	0.35	0.27	2.00	0.64	(1.24)	2.11	(1.74)	11.43
OFIX	1.47	0.19	0.08	0.40	1.70	(1.57)	3.14	(3.15)	12.11
CNMD	1.66	0.18	0.08	0.30	1.87	(1.75)	4.46	(2.69)	10.91
LIVN	1.35	(0.12)	0.00	(0.16)	0.00	0.00	2.90	(2.87)	9.56
KIDS	2.49	(0.12)	0.00	(0.06)	0.00	0.00	4.85	(6.44)	16.22
ITGR	1.10	0.15	0.08	0.39	1.25	(1.19)	1.88	(1.86)	9.03
TMCI	3.73	1.19	0.47	0.78	2.09	(5.43)	10.15	(3.85)	42.04
ESTA	3.01	(0.42)	0.00	(0.88)	0.00	0.00	5.58	(6.43)	37.82
NUVA	1.23	(0.05)	0.00	(0.08)	0.00	0.00	3.31	(2.75)	7.19
LUNG	2.97	(0.05)	0.00	(0.07)	0.00	0.00	8.44	(5.32)	20.44

Alphatec Holdings Corporate Management

Ali Shorooghi	Senior Marketing	Profile
Eric Dasso	Executive Technologies	Profile
Joseph Walland	Senior Solutions	Profile
Tyson Marshall	General Secretary	Profile

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