MiMedx Correlations

MDXG Stock

USD 9.12 0.04 0.44%

The current 90-days correlation between MiMedx Group and Edgewise Therapeutics is 0.1 (i.e., Average diversification). The correlation of MiMedx 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.

MiMedx Correlation With Market

Significant diversification

The correlation between MiMedx Group and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MiMedx Group 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 MiMedx Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with MiMedx Stock

0.64	DMAC	DiaMedica Therapeutics	Pair Corr
0.91	VCEL	Vericel Corp Ord	Pair Corr
0.88	VCYT	Veracyte Potential Growth	Pair Corr
0.65	DRTS	Alpha Tau Medical	Pair Corr
0.8	DVAX	Dynavax Technologies	Pair Corr
0.78	DYAI	Dyadic International	Pair Corr
0.65	VRNA	Verona Pharma PLC	Pair Corr
0.64	VSTM	Verastem	Pair Corr
0.69	VTRS	Viatris	Pair Corr

Moving against MiMedx Stock

0.92	VALN	Valneva SE ADR	Pair Corr
0.9	ME	23Andme Holding	Pair Corr
0.9	DRRX	Durect	Pair Corr
0.84	VINC	Vincerx Pharma	Pair Corr
0.83	EQ	Equillium	Pair Corr
0.82	VIGL	Vigil Neuroscience	Pair Corr
0.79	DTIL	Precision BioSciences	Pair Corr
0.74	DNTH	Dianthus Therapeutics	Pair Corr
0.62	VIRX	Viracta Therapeutics	Pair Corr
0.61	DNLI	Denali Therapeutics	Pair Corr
0.56	DOMH	Dominari Holdings	Pair Corr
0.56	DRMA	Dermata Therapeutics	Pair Corr
0.91	EDSA	Edesa Biotech	Pair Corr
0.81	VKTX	Viking Therapeutics	Pair Corr
0.79	EDIT	Editas Medicine	Pair Corr
0.76	VRCA	Verrica Pharmaceuticals	Pair Corr
0.76	VRDN	Viridian Therapeutics Buyout Trend	Pair Corr
0.7	VYGR	Voyager Therapeutics	Pair Corr
0.68	VXRT	Vaxart Inc	Pair Corr
0.65	VRPX	Virpax Pharmaceuticals	Pair Corr
0.62	VTGN	VistaGen Therapeutics	Pair Corr
0.53	VRTX	Vertex Pharmaceuticals	Pair Corr
0.32	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.31	ELAN	Elanco Animal Health	Pair Corr

Related Correlations Analysis

	GLUE	DSGN	HOWL	IKNA	STOK	IPSC	EWTX	CCCC	MLYS	CGEM
GLUE		0.45	0.01	0.39	0.45	0.25	0.26	-0.07	0.27	0.05	GLUE
DSGN	0.45		-0.03	0.32	0.55	0.22	0.15	-0.08	0.42	0.07	DSGN
HOWL	0.01	-0.03		0.59	0.51	0.6	0.74	0.78	0.66	0.76	HOWL
IKNA	0.39	0.32	0.59		0.76	0.75	0.71	0.62	0.72	0.74	IKNA
STOK	0.45	0.55	0.51	0.76		0.69	0.77	0.63	0.75	0.72	STOK
IPSC	0.25	0.22	0.6	0.75	0.69		0.72	0.65	0.69	0.68	IPSC
EWTX	0.26	0.15	0.74	0.71	0.77	0.72		0.82	0.73	0.83	EWTX
CCCC	-0.07	-0.08	0.78	0.62	0.63	0.65	0.82		0.72	0.93	CCCC
MLYS	0.27	0.42	0.66	0.72	0.75	0.69	0.73	0.72		0.79	MLYS
CGEM	0.05	0.07	0.76	0.74	0.72	0.68	0.83	0.93	0.79		CGEM
	GLUE	DSGN	HOWL	IKNA	STOK	IPSC	EWTX	CCCC	MLYS	CGEM

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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

CGEM	+ 0.93	CCCC
CGEM	+ 0.83	EWTX
CCCC	+ 0.82	EWTX
CGEM	+ 0.79	MLYS
CCCC	+ 0.78	HOWL
EWTX	+ 0.77	STOK

High negative correlations

CCCC	- 0.08	DSGN
CCCC	- 0.07	GLUE
HOWL	- 0.03	DSGN

Risk-Adjusted Indicators

There is a big difference between MiMedx Stock performing well and MiMedx 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 MiMedx'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
GLUE	5.62	0.79	0.16	1.79	4.69	(8.18)	10.21	(8.46)	103.72
DSGN	4.42	0.10	0.01	0.11	6.38	(4.52)	8.72	(11.01)	33.11
HOWL	4.45	(0.37)	0.00	(0.55)	0.00	0.00	7.96	(8.29)	49.02
IKNA	1.47	(0.18)	0.00	(0.80)	0.00	0.00	3.87	(3.01)	16.13
STOK	2.74	(0.26)	0.00	(1.04)	0.00	0.00	5.57	(5.30)	27.59
IPSC	3.97	(0.68)	0.00	(0.70)	0.00	0.00	6.73	(7.48)	31.00
EWTX	2.68	(0.20)	0.00	(0.11)	0.00	0.00	4.89	(5.54)	26.07
CCCC	4.42	(0.38)	0.00	(0.24)	0.00	0.00	9.28	(8.28)	24.60
MLYS	3.35	(0.44)	0.00	(1.06)	0.00	0.00	7.79	(6.95)	26.52
CGEM	2.95	(0.65)	0.00	(2.72)	0.00	0.00	5.13	(7.10)	17.85

MiMedx Corporate Management

Matthew Notarianni	Head Relations	Profile
Todd Newton	Interim Director	Profile
William Phelan	VP Officer	Profile
Kim Moller	Chief Officer	Profile
William IV	General Officer	Profile

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