Bioventus Correlations

BVS Stock

USD 8.27 0.17 2.10%

The current 90-days correlation between Bioventus and Orthopediatrics Corp is 0.24 (i.e., Modest diversification). The correlation of Bioventus 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.

Bioventus Correlation With Market

Very poor diversification

The correlation between Bioventus and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bioventus and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Bioventus Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bioventus. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

For more information on how to buy Bioventus Stock please use our How to Invest in Bioventus guide.

Moving together with Bioventus Stock

0.7	HYB	HOYA	Pair Corr
0.62	DXCM	DexCom Inc	Pair Corr
0.84	VREX	Varex Imaging Corp	Pair Corr
0.75	EDAP	EDAP TMS SA	Pair Corr
0.66	SKAN	SKAN Group AG	Pair Corr
0.72	EKSO	Ekso Bionics Holdings	Pair Corr

Moving against Bioventus Stock

0.73	IPD	Impedimed	Pair Corr
0.69	DYNT	Dynatronics	Pair Corr
0.67	VVOS	Vivos Therapeutics	Pair Corr
0.66	ELAB	Elevai Labs Common	Pair Corr
0.62	OTC	Ocumetics Technology Corp	Pair Corr
0.6	EW	Edwards Lifesciences Corp	Pair Corr
0.52	49Z	Cellink AB Earnings Call This Week	Pair Corr
0.38	SI	Shoulder Innovations	Pair Corr
0.37	IL3	Integra LifeSciences	Pair Corr
0.37	VNRX	Volitionrx	Pair Corr
0.34	FIE1	FIELMANN AG ON	Pair Corr
0.71	EUDA	EUDA Health Holdings	Pair Corr
0.67	IUI1	Intuitive Surgical	Pair Corr
0.64	XEJ	Accuray Incorporated	Pair Corr
0.64	ABT	Abbott Laboratories	Pair Corr
0.62	AHC	Austco Healthcare	Pair Corr
0.58	ENOV	Enovis Corp	Pair Corr
0.57	FEMY	Femasys	Pair Corr
0.55	EMBC	Embecta Corp	Pair Corr

Related Correlations Analysis

	TMCI	KIDS	LAB	CBLL	SRDX	BFLY	VREX	CTKB	AVNS	SMLR
TMCI		0.33	0.09	-0.48	-0.5	-0.35	-0.49	0.47	-0.66	-0.54	TMCI
KIDS	0.33		0.58	0.49	-0.6	0.51	0.0	0.58	-0.26	-0.36	KIDS
LAB	0.09	0.58		0.54	-0.58	0.56	0.13	0.45	-0.22	-0.46	LAB
CBLL	-0.48	0.49	0.54		-0.27	0.86	0.52	-0.02	0.27	0.05	CBLL
SRDX	-0.5	-0.6	-0.58	-0.27		-0.29	0.32	-0.55	0.69	0.63	SRDX
BFLY	-0.35	0.51	0.56	0.86	-0.29		0.64	0.26	0.26	-0.12	BFLY
VREX	-0.49	0.0	0.13	0.52	0.32	0.64		-0.18	0.77	0.33	VREX
CTKB	0.47	0.58	0.45	-0.02	-0.55	0.26	-0.18		-0.48	-0.61	CTKB
AVNS	-0.66	-0.26	-0.22	0.27	0.69	0.26	0.77	-0.48		0.74	AVNS
SMLR	-0.54	-0.36	-0.46	0.05	0.63	-0.12	0.33	-0.61	0.74		SMLR
	TMCI	KIDS	LAB	CBLL	SRDX	BFLY	VREX	CTKB	AVNS	SMLR

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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

BFLY	+ 0.86	CBLL
AVNS	+ 0.77	VREX
SMLR	+ 0.74	AVNS
AVNS	+ 0.69	SRDX
VREX	+ 0.64	BFLY
SMLR	+ 0.63	SRDX

High negative correlations

AVNS	- 0.66	TMCI
SMLR	- 0.61	CTKB
SRDX	- 0.6	KIDS
SRDX	- 0.58	LAB
CTKB	- 0.55	SRDX
SMLR	- 0.54	TMCI

Risk-Adjusted Indicators

There is a big difference between Bioventus Stock performing well and Bioventus 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 Bioventus' 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
TMCI	3.06	(1.08)	0.00	(0.34)	0.00	0.00	6.51	(5.62)	18.13
KIDS	1.85	(0.04)	(0.02)	0.02	2.20	(2.00)	3.47	(2.97)	16.89
LAB	3.03	(0.07)	(0.01)	0.01	3.43	(3.87)	7.81	(6.12)	27.04
CBLL	2.49	0.75	0.32	0.64	1.97	(3.06)	6.39	(3.94)	18.00
SRDX	1.90	0.51	0.23	(2.02)	1.26	(2.68)	2.09	(2.90)	49.69
BFLY	4.90	0.51	0.11	0.25	4.87	(5.88)	12.50	(8.57)	35.76
VREX	1.68	0.12	0.04	0.15	3.08	(1.71)	3.76	(3.55)	17.42
CTKB	2.66	(0.19)	0.00	(0.07)	0.00	0.00	5.95	(4.99)	29.07
AVNS	1.72	0.33	0.20	0.31	1.48	(2.17)	4.68	(3.03)	9.85
SMLR	49.98	19.70	4.11	0.27	4.86	(64.07)	18.45	(9.64)	1,670

Bioventus Corporate Management

Anthony JD	General VP	Profile
Kenneth Reali	CEO Director	Profile
MBA BS	Senior Operations	Profile
Helen Leupold	Senior Officer	Profile
Katrina Church	VP Officer	Profile
Alessandraa Pavesio	VP Officer	Profile

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