Sanara Medtech Correlations

SMTI Stock

USD 37.70 0.38 1.02%

The current 90-days correlation between Sanara Medtech and InfuSystems Holdings is 0.03 (i.e., Significant diversification). The correlation of Sanara Medtech 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.

Sanara Medtech Correlation With Market

Good diversification

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

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sanara Medtech. 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.

For more detail on how to invest in Sanara Stock please use our How to Invest in Sanara Medtech guide.

Moving together with Sanara Stock

0.66	ENOV	Enovis Corp	Pair Corr
0.71	NXGL	Nexgel Inc	Pair Corr

Moving against Sanara Stock

0.76	FIGS	Figs Inc	Pair Corr
0.65	PHG	Koninklijke Philips	Pair Corr
0.55	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.46	EVH	Evolent Health	Pair Corr
0.41	AGL	agilon health Buyout Trend	Pair Corr
0.63	A	Agilent Technologies	Pair Corr
0.63	DOMH	Dominari Holdings	Pair Corr
0.57	ME	23Andme Holding	Pair Corr
0.44	ADUS	Addus HomeCare	Pair Corr
0.33	ATPC	Agape ATP	Pair Corr
0.7	EXAS	EXACT Sciences	Pair Corr
0.6	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.58	HLN	Haleon plc	Pair Corr
0.57	TIL	Instil Bio	Pair Corr
0.46	LLY	Eli Lilly	Pair Corr
0.43	VRDN	Viridian Therapeutics	Pair Corr
0.36	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	INFU	PDEX	LMAT	UTMD	MLSS	DXR	MHUA	KRMD	POCI
INFU		0.84	0.87	0.06	-0.75	0.11	-0.66	0.84	-0.04	INFU
PDEX	0.84		0.92	-0.14	-0.84	0.27	-0.75	0.85	-0.17	PDEX
LMAT	0.87	0.92		0.1	-0.7	0.24	-0.68	0.86	0.01	LMAT
UTMD	0.06	-0.14	0.1		0.33	0.04	0.19	-0.19	0.5	UTMD
MLSS	-0.75	-0.84	-0.7	0.33		-0.04	0.82	-0.69	0.48	MLSS
DXR	0.11	0.27	0.24	0.04	-0.04		0.04	0.29	0.23	DXR
MHUA	-0.66	-0.75	-0.68	0.19	0.82	0.04		-0.56	0.55	MHUA
KRMD	0.84	0.85	0.86	-0.19	-0.69	0.29	-0.56		0.04	KRMD
POCI	-0.04	-0.17	0.01	0.5	0.48	0.23	0.55	0.04		POCI
	INFU	PDEX	LMAT	UTMD	MLSS	DXR	MHUA	KRMD	POCI

Click cells to compare fundamentals

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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

LMAT	+ 0.92	PDEX
LMAT	+ 0.87	INFU
KRMD	+ 0.86	LMAT
KRMD	+ 0.85	PDEX
PDEX	+ 0.84	INFU
KRMD	+ 0.84	INFU

High negative correlations

MLSS	- 0.84	PDEX
MHUA	- 0.75	PDEX
MLSS	- 0.75	INFU
MLSS	- 0.7	LMAT
KRMD	- 0.69	MLSS
MHUA	- 0.68	LMAT

Risk-Adjusted Indicators

There is a big difference between Sanara Stock performing well and Sanara Medtech 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 Sanara Medtech'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
INFU	2.95	0.37	0.14	0.33	2.74	(3.40)	6.79	(4.81)	22.10
PDEX	4.12	1.25	0.23	0.90	4.37	(4.65)	10.44	(9.00)	30.21
LMAT	1.39	0.09	0.08	0.19	1.28	(1.63)	3.12	(2.19)	9.47
UTMD	0.70	(0.16)	0.00	(0.07)	0.00	0.00	1.12	(1.82)	7.07
MLSS	2.97	(0.45)	0.00	(0.34)	0.00	0.00	8.45	(7.89)	27.59
DXR	3.03	0.24	0.05	0.40	3.89	(3.37)	5.40	(6.76)	34.14
MHUA	6.40	(0.07)	0.00	0.07	8.51	(7.40)	16.67	(18.06)	57.14
KRMD	2.58	0.72	0.20	(45.38)	2.37	(3.04)	6.37	(4.40)	18.56
POCI	3.44	(0.07)	(0.01)	0.05	4.06	(4.12)	7.48	(6.99)	18.59

Sanara Medtech Corporate Management

Bill Fitzgerald	Compliance Officer	Profile
Jacob Waldrop	Chief Officer	Profile
Callon Nichols	Director Relations	Profile
Jane Fore	Chief Officer	Profile
Tricia Matteson	Director Marketing	Profile

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