Axogen Correlations

AXGN Stock

USD 31.76 0.76 2.45%

The current 90-days correlation between Axogen Inc and Iradimed Co is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Axogen moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Axogen Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Axogen Correlation With Market

Good diversification

The correlation between Axogen Inc and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Axogen Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Axogen Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Axogen Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Axogen Stock

0.84	DHR	Danaher	Pair Corr
0.66	AMPH	Amphastar P	Pair Corr
0.83	MRLWF	Marlowe Plc	Pair Corr
0.69	MMSI	Merit Medical Systems	Pair Corr
0.95	FTV	Fortive Corp	Pair Corr
0.65	KO	Coca Cola	Pair Corr
0.8	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.85	CAT	Caterpillar	Pair Corr
0.73	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.82	AXP	American Express	Pair Corr
0.84	JNJ	Johnson Johnson	Pair Corr
0.79	AA	Alcoa Corp	Pair Corr
0.89	CSCO	Cisco Systems	Pair Corr
0.68	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.76	TRV	The Travelers Companies	Pair Corr
0.85	BAC	Bank of America	Pair Corr

Moving against Axogen Stock

0.9	OM	Outset Medical	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.75	PG	Procter Gamble	Pair Corr
0.73	GOOD	Gladstone Commercial	Pair Corr
0.64	T	ATT Inc	Pair Corr
0.37	BSX	Boston Scientific Corp	Pair Corr
0.37	KNTK	Kinetik Holdings Sell-off Trend	Pair Corr

Related Correlations Analysis

	IRMD	INMD	IART	TNDM	AHCO	CTEV	OPK	LFMD	SANA	TSHA
IRMD		-0.67	-0.48	0.94	0.74	-0.68	-0.84	-0.96	-0.19	0.42	IRMD
INMD	-0.67		0.74	-0.62	-0.33	0.49	0.79	0.74	0.56	0.14	INMD
IART	-0.48	0.74		-0.37	-0.23	0.34	0.74	0.53	0.67	0.24	IART
TNDM	0.94	-0.62	-0.37		0.66	-0.76	-0.77	-0.94	-0.21	0.47	TNDM
AHCO	0.74	-0.33	-0.23	0.66		-0.38	-0.53	-0.64	0.04	0.47	AHCO
CTEV	-0.68	0.49	0.34	-0.76	-0.38		0.53	0.74	0.31	-0.34	CTEV
OPK	-0.84	0.79	0.74	-0.77	-0.53	0.53		0.86	0.42	-0.06	OPK
LFMD	-0.96	0.74	0.53	-0.94	-0.64	0.74	0.86		0.27	-0.34	LFMD
SANA	-0.19	0.56	0.67	-0.21	0.04	0.31	0.42	0.27		0.51	SANA
TSHA	0.42	0.14	0.24	0.47	0.47	-0.34	-0.06	-0.34	0.51		TSHA
	IRMD	INMD	IART	TNDM	AHCO	CTEV	OPK	LFMD	SANA	TSHA

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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

TNDM	+ 0.94	IRMD
LFMD	+ 0.86	OPK
OPK	+ 0.79	INMD
AHCO	+ 0.74	IRMD
IART	+ 0.74	INMD
LFMD	+ 0.74	INMD

High negative correlations

LFMD	- 0.96	IRMD
LFMD	- 0.94	TNDM
OPK	- 0.84	IRMD
OPK	- 0.77	TNDM
CTEV	- 0.76	TNDM
CTEV	- 0.68	IRMD

Risk-Adjusted Indicators

There is a big difference between Axogen Stock performing well and Axogen 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 Axogen'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
IRMD	1.35	0.50	0.23	1.21	1.33	(1.49)	3.36	(2.42)	11.95
INMD	1.19	(0.07)	(0.05)	(0.01)	1.43	(1.27)	2.33	(2.29)	9.48
IART	2.61	(0.34)	0.00	(0.06)	0.00	0.00	5.94	(4.48)	29.40
TNDM	3.31	0.92	0.30	0.63	2.74	(4.01)	7.42	(4.34)	27.06
AHCO	1.95	0.10	0.03	0.26	2.10	(2.16)	3.91	(3.17)	24.44
CTEV	5.17	(0.68)	0.00	(0.17)	0.00	0.00	10.91	(13.45)	37.38
OPK	1.50	(0.33)	0.00	(0.42)	0.00	0.00	2.99	(3.27)	8.95
LFMD	3.17	(0.93)	0.00	(0.27)	0.00	0.00	4.59	(7.02)	28.11
SANA	5.12	0.11	0.06	0.10	4.99	(6.89)	13.56	(9.19)	43.34
TSHA	4.70	0.74	0.18	0.38	4.05	(5.69)	10.03	(7.14)	63.54

Axogen Corporate Management

Gregory Davault	VP Marketing	Profile
Maria Martinez	Chief Human Resource Officer	Profile
Lindsey CPA	Chief Officer	Profile
CFA CPA	Chief Officer	Profile

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