Axogen Correlations

AXGN Stock

USD 18.26 0.05 0.27%

The current 90-days correlation between Axogen Inc and Anika Therapeutics is 0.12 (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 -0.06 (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.

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

0.71	AHG	Akso Health Group	Pair Corr
0.78	XYLO	Xylo Technologies Symbol Change	Pair Corr
0.65	LNSR	LENSAR Inc	Pair Corr
0.62	MBOT	Microbot Medical	Pair Corr
0.71	STRM	Streamline Health	Pair Corr
0.8	TNDM	Tandem Diabetes Care	Pair Corr
0.67	CERT	Certara	Pair Corr

Moving against Axogen Stock

0.85	HCAT	Health Catalyst	Pair Corr
0.67	VMD	Viemed Healthcare	Pair Corr
0.62	XAIR	Beyond Air	Pair Corr
0.59	NRC	National Research Corp	Pair Corr
0.5	TFX	Teleflex Incorporated	Pair Corr
0.45	GCTK	GlucoTrack	Pair Corr
0.44	JYNT	Joint Corp	Pair Corr
0.41	EVH	Evolent Health	Pair Corr
0.31	CVS	CVS Health Corp Earnings Call This Week	Pair Corr
0.64	FLGC	Flora Growth Corp	Pair Corr
0.52	ACET	Adicet Bio	Pair Corr
0.45	ERNA	Eterna Therapeutics	Pair Corr
0.39	SNDA	Sonida Senior Living	Pair Corr
0.76	HCM	HUTCHMED DRC	Pair Corr
0.76	KRYS	Krystal Biotech	Pair Corr

Related Correlations Analysis

	ANIK	OFIX	SRDX	FNA	AORT	LUNG	ELMD	RXST	TMCI	NUVA
ANIK		-0.48	-0.12	-0.71	-0.49	-0.11	-0.6	0.56	-0.62	0.23	ANIK
OFIX	-0.48		0.22	0.51	0.46	0.19	0.46	-0.04	0.76	-0.41	OFIX
SRDX	-0.12	0.22		0.16	-0.16	-0.08	-0.11	0.1	-0.04	-0.66	SRDX
FNA	-0.71	0.51	0.16		0.67	-0.3	0.91	-0.79	0.84	-0.32	FNA
AORT	-0.49	0.46	-0.16	0.67		-0.03	0.78	-0.67	0.77	-0.12	AORT
LUNG	-0.11	0.19	-0.08	-0.3	-0.03		-0.28	0.31	-0.04	-0.01	LUNG
ELMD	-0.6	0.46	-0.11	0.91	0.78	-0.28		-0.81	0.86	-0.14	ELMD
RXST	0.56	-0.04	0.1	-0.79	-0.67	0.31	-0.81		-0.56	-0.02	RXST
TMCI	-0.62	0.76	-0.04	0.84	0.77	-0.04	0.86	-0.56		-0.21	TMCI
NUVA	0.23	-0.41	-0.66	-0.32	-0.12	-0.01	-0.14	-0.02	-0.21		NUVA
	ANIK	OFIX	SRDX	FNA	AORT	LUNG	ELMD	RXST	TMCI	NUVA

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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

ELMD	+ 0.91	FNA
TMCI	+ 0.86	ELMD
TMCI	+ 0.84	FNA
ELMD	+ 0.78	AORT
TMCI	+ 0.77	AORT
TMCI	+ 0.76	OFIX

High negative correlations

RXST	- 0.81	ELMD
RXST	- 0.79	FNA
FNA	- 0.71	ANIK
RXST	- 0.67	AORT
NUVA	- 0.66	SRDX
TMCI	- 0.62	ANIK

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
ANIK	1.90	(0.45)	0.00	2.88	0.00	0.00	3.02	(3.39)	32.07
OFIX	1.44	0.24	0.10	0.52	1.69	(1.52)	3.14	(3.15)	12.11
SRDX	0.74	(0.11)	0.00	(1.46)	0.00	0.00	1.68	(1.44)	9.34
FNA	3.22	1.57	0.54	(25.50)	1.80	(4.03)	7.83	(3.74)	43.16
AORT	1.38	0.21	0.10	0.66	1.37	(1.57)	3.49	(2.23)	9.51
LUNG	2.96	(0.04)	(0.02)	(0.03)	3.33	(3.26)	8.44	(5.32)	20.44
ELMD	2.20	0.62	0.26	0.69	1.97	(2.63)	5.82	(3.90)	12.17
RXST	2.33	(0.64)	0.00	(1.29)	0.00	0.00	3.80	(7.09)	17.66
TMCI	3.78	1.11	0.43	0.74	2.21	(5.61)	10.15	(4.19)	42.04
NUVA	1.23	(0.03)	0.00	(0.46)	0.00	0.00	3.31	(2.75)	7.19

Axogen Corporate Executives

Elected by the shareholders, the Axogen's board of directors comprises two types of representatives: Axogen inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Axogen. The board's role is to monitor Axogen's management team and ensure that shareholders' interests are well served. Axogen's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Axogen's outside directors are responsible for providing unbiased perspectives on the board's policies.

Peter Mariani

Ex CFO

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