LivaNova PLC Correlations

LIVN Stock

USD 51.70 1.65 3.30%

The current 90-days correlation between LivaNova PLC and Globus Medical is 0.3 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as LivaNova PLC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if LivaNova PLC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

LivaNova PLC Correlation With Market

Very weak diversification

The correlation between LivaNova PLC and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LivaNova PLC and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in LivaNova PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

To learn how to invest in LivaNova Stock, please use our How to Invest in LivaNova PLC guide.

Moving together with LivaNova Stock

0.65	VMD	Viemed Healthcare	Pair Corr
0.63	OMIC	Singular Genomics Systems	Pair Corr
0.8	VRDN	Viridian Therapeutics	Pair Corr
0.74	EWTX	Edgewise Therapeutics	Pair Corr

Moving against LivaNova Stock

0.77	IVP	Inspire Veterinary	Pair Corr
0.75	FORA	Forian Inc	Pair Corr
0.56	AMN	AMN Healthcare Services	Pair Corr
0.49	AGL	agilon health	Pair Corr
0.46	EVH	Evolent Health	Pair Corr
0.38	ENOV	Enovis Corp	Pair Corr
0.79	VCNX	Vaccinex	Pair Corr
0.77	BACK	IMAC Holdings	Pair Corr
0.75	VALN	Valneva SE ADR	Pair Corr
0.55	CYRX	Cryoport	Pair Corr
0.52	FBRX	Forte Biosciences Trending	Pair Corr
0.47	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.4	ERAS	Erasca Inc	Pair Corr
0.33	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.31	LLY	Eli Lilly	Pair Corr

Related Correlations Analysis

	KIDS	LUNG	SIBN	NPCE	GMED	OFIX	CNMD	ATEC	GKOS	FNA
KIDS		0.48	0.78	-0.01	-0.45	0.04	0.42	-0.2	-0.34	0.13	KIDS
LUNG	0.48		0.62	0.0	-0.41	-0.12	0.67	-0.22	-0.42	0.03	LUNG
SIBN	0.78	0.62		0.13	-0.28	0.24	0.63	0.02	-0.12	0.24	SIBN
NPCE	-0.01	0.0	0.13		0.59	0.69	0.53	0.66	0.58	0.94	NPCE
GMED	-0.45	-0.41	-0.28	0.59		0.79	0.16	0.87	0.87	0.5	GMED
OFIX	0.04	-0.12	0.24	0.69	0.79		0.5	0.88	0.77	0.7	OFIX
CNMD	0.42	0.67	0.63	0.53	0.16	0.5		0.45	0.09	0.58	CNMD
ATEC	-0.2	-0.22	0.02	0.66	0.87	0.88	0.45		0.76	0.63	ATEC
GKOS	-0.34	-0.42	-0.12	0.58	0.87	0.77	0.09	0.76		0.49	GKOS
FNA	0.13	0.03	0.24	0.94	0.5	0.7	0.58	0.63	0.49		FNA
	KIDS	LUNG	SIBN	NPCE	GMED	OFIX	CNMD	ATEC	GKOS	FNA

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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

FNA	+ 0.94	NPCE
ATEC	+ 0.88	OFIX
ATEC	+ 0.87	GMED
GKOS	+ 0.87	GMED
OFIX	+ 0.79	GMED
SIBN	+ 0.78	KIDS

High negative correlations

GMED	- 0.45	KIDS
GKOS	- 0.42	LUNG
GMED	- 0.41	LUNG
GKOS	- 0.34	KIDS
GMED	- 0.28	SIBN
ATEC	- 0.22	LUNG

Risk-Adjusted Indicators

There is a big difference between LivaNova Stock performing well and LivaNova PLC 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 LivaNova PLC'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
KIDS	2.61	(0.36)	0.00	(0.15)	0.00	0.00	5.04	(5.08)	19.39
LUNG	3.25	(0.30)	0.00	(0.04)	0.00	0.00	9.00	(6.89)	20.52
SIBN	2.98	(0.44)	0.00	(0.11)	0.00	0.00	6.75	(4.54)	27.00
NPCE	3.44	0.17	0.09	0.17	3.21	(4.19)	9.73	(6.19)	35.38
GMED	1.06	0.18	0.19	0.24	0.74	(1.22)	1.82	(1.59)	11.18
OFIX	1.86	0.06	0.04	0.14	2.04	(2.06)	3.90	(3.85)	12.11
CNMD	1.82	0.00	0.00	0.10	2.28	(1.83)	4.57	(3.83)	11.47
ATEC	3.57	1.02	0.24	3.52	3.15	(4.29)	8.49	(5.73)	45.41
GKOS	1.56	(0.03)	0.02	0.08	1.67	(1.64)	3.30	(2.86)	13.23
FNA	3.85	0.27	0.11	0.19	4.04	(4.41)	7.83	(6.30)	43.16

LivaNova PLC Corporate Management

Lindsey Little	Director Relations	Profile
Alex CMA	Chief Officer	Profile
Matthew III	Senior IT	Profile
Badri Amurthur	Chief Officer	Profile

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