Establishment Labs Correlations

ESTA Stock

USD 34.56 0.08 0.23%

The current 90-days correlation between Establishment Labs and Orthopediatrics Corp is 0.28 (i.e., Modest diversification). The correlation of Establishment Labs 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.

Establishment Labs Correlation With Market

Significant diversification

The correlation between Establishment Labs Holdings and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Establishment Labs Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Establishment Labs 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 estimate.

Moving against Establishment Stock

0.34

BSX

Boston Scientific Corp

Pair Corr

Related Correlations Analysis

	KIDS	ITGR	TMCI	CNMD	NPCE	INGN	SRDX	LUNG	APYX	SGHT
KIDS		-0.35	-0.37	-0.13	-0.63	0.15	-0.53	0.46	-0.66	0.62	KIDS
ITGR	-0.35		0.87	0.73	0.68	0.49	0.38	0.13	0.65	-0.61	ITGR
TMCI	-0.37	0.87		0.76	0.77	0.51	0.36	0.15	0.65	-0.79	TMCI
CNMD	-0.13	0.73	0.76		0.44	0.31	0.42	0.27	0.46	-0.5	CNMD
NPCE	-0.63	0.68	0.77	0.44		0.1	0.43	-0.16	0.87	-0.91	NPCE
INGN	0.15	0.49	0.51	0.31	0.1		-0.36	0.45	0.0	-0.17	INGN
SRDX	-0.53	0.38	0.36	0.42	0.43	-0.36		-0.33	0.56	-0.3	SRDX
LUNG	0.46	0.13	0.15	0.27	-0.16	0.45	-0.33		-0.13	0.14	LUNG
APYX	-0.66	0.65	0.65	0.46	0.87	0.0	0.56	-0.13		-0.74	APYX
SGHT	0.62	-0.61	-0.79	-0.5	-0.91	-0.17	-0.3	0.14	-0.74		SGHT
	KIDS	ITGR	TMCI	CNMD	NPCE	INGN	SRDX	LUNG	APYX	SGHT

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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	+ 0.87	ITGR
APYX	+ 0.87	NPCE
NPCE	+ 0.77	TMCI
CNMD	+ 0.76	TMCI
CNMD	+ 0.73	ITGR
NPCE	+ 0.68	ITGR

High negative correlations

SGHT	- 0.91	NPCE
SGHT	- 0.79	TMCI
SGHT	- 0.74	APYX
APYX	- 0.66	KIDS
NPCE	- 0.63	KIDS
SGHT	- 0.61	ITGR

Risk-Adjusted Indicators

There is a big difference between Establishment Stock performing well and Establishment Labs 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 Establishment Labs' 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
KIDS	2.61	0.17	0.04	0.17	3.88	(2.44)	5.04	(6.44)	16.62
ITGR	1.13	0.13	0.09	0.36	1.28	(1.22)	2.00	(1.98)	9.03
TMCI	3.39	0.82	0.30	0.49	2.37	(4.91)	8.14	(4.33)	42.04
CNMD	1.60	0.08	0.04	0.12	1.93	(1.64)	3.51	(2.69)	10.91
NPCE	3.59	1.02	0.28	1.25	3.05	(4.43)	9.73	(6.20)	35.79
INGN	2.41	0.29	0.10	0.46	2.76	(2.78)	4.68	(5.27)	24.03
SRDX	0.58	(0.08)	0.00	(1.05)	0.00	0.00	1.37	(1.42)	8.97
LUNG	3.00	0.01	0.00	0.02	3.41	(3.32)	8.44	(5.67)	20.44
APYX	4.23	0.43	0.09	1.03	4.34	(5.60)	12.20	(8.65)	37.75
SGHT	3.02	(0.99)	0.00	1.36	0.00	0.00	6.65	(8.24)	18.22

Establishment Labs Corporate Management

Heather Brennan	Head Operations	Profile
Roberto Mezerville	Chief Officer	Profile
Paul Rodio	Chief Officer	Profile
Jeff Ehrhard	Senior America	Profile
Jeff Ehrhardt	Senior America	Profile
Ivan Bilic	Senior OUS	Profile

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