Treace Medical Correlations

TMCI Stock

USD 7.83 0.11 1.39%

The current 90-days correlation between Treace Medical Concepts and Rxsight is 0.31 (i.e., Weak diversification). The correlation of Treace Medical 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.

Treace Medical Correlation With Market

Poor diversification

The correlation between Treace Medical Concepts and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Treace Medical Concepts 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 Treace Medical Concepts. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Treace Stock

0.64	DOCS	Doximity	Pair Corr
0.79	ENOV	Enovis Corp	Pair Corr
0.88	FOXO	FOXO Technologies	Pair Corr
0.75	ITGR	Integer Holdings Corp	Pair Corr
0.69	MMSI	Merit Medical Systems	Pair Corr
0.92	CRVL	CorVel Corp Normal Trading	Pair Corr
0.67	EXEL	Exelixis	Pair Corr

Moving against Treace Stock

0.64	EVH	Evolent Health	Pair Corr
0.62	PHG	Koninklijke Philips	Pair Corr
0.6	FIGS	Figs Inc	Pair Corr
0.51	AMN	AMN Healthcare Services	Pair Corr
0.45	AGL	agilon health	Pair Corr
0.34	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.6	DOMH	Dominari Holdings	Pair Corr
0.52	ME	23Andme Holding	Pair Corr
0.51	EQ	Equillium	Pair Corr
0.42	ADUS	Addus HomeCare	Pair Corr
0.37	VALN	Valneva SE ADR	Pair Corr
0.34	ATPC	Agape ATP	Pair Corr
0.33	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.88	EXAS	EXACT Sciences Sell-off Trend	Pair Corr
0.79	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.72	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.66	HLN	Haleon plc	Pair Corr
0.62	LLY	Eli Lilly	Pair Corr
0.52	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.33	TIL	Instil Bio	Pair Corr

Related Correlations Analysis

	RXST	AXGN	LUNG	OFIX	KIDS	ITGR	CNMD	ESTA	SGHT	FNA
RXST		0.11	0.43	-0.16	0.92	-0.54	0.22	0.45	0.77	-0.12	RXST
AXGN	0.11		0.38	-0.35	0.01	-0.04	0.03	0.19	0.19	-0.53	AXGN
LUNG	0.43	0.38		-0.12	0.48	-0.16	0.67	0.19	0.63	0.03	LUNG
OFIX	-0.16	-0.35	-0.12		0.04	0.64	0.5	0.09	-0.56	0.7	OFIX
KIDS	0.92	0.01	0.48	0.04		-0.47	0.42	0.44	0.69	0.13	KIDS
ITGR	-0.54	-0.04	-0.16	0.64	-0.47		0.21	-0.14	-0.65	0.39	ITGR
CNMD	0.22	0.03	0.67	0.5	0.42	0.21		0.03	0.14	0.58	CNMD
ESTA	0.45	0.19	0.19	0.09	0.44	-0.14	0.03		0.19	-0.29	ESTA
SGHT	0.77	0.19	0.63	-0.56	0.69	-0.65	0.14	0.19		-0.28	SGHT
FNA	-0.12	-0.53	0.03	0.7	0.13	0.39	0.58	-0.29	-0.28		FNA
	RXST	AXGN	LUNG	OFIX	KIDS	ITGR	CNMD	ESTA	SGHT	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

KIDS	+ 0.92	RXST
SGHT	+ 0.77	RXST
FNA	+ 0.7	OFIX
SGHT	+ 0.69	KIDS
CNMD	+ 0.67	LUNG
ITGR	+ 0.64	OFIX

High negative correlations

SGHT	- 0.65	ITGR
SGHT	- 0.56	OFIX
ITGR	- 0.54	RXST
FNA	- 0.53	AXGN
ITGR	- 0.47	KIDS
OFIX	- 0.35	AXGN

Risk-Adjusted Indicators

There is a big difference between Treace Stock performing well and Treace Medical 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 Treace Medical'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
RXST	1.76	(0.37)	0.00	(0.20)	0.00	0.00	2.19	(5.18)	12.89
AXGN	2.25	(0.05)	(0.01)	0.06	3.80	(2.21)	4.73	(5.50)	21.60
LUNG	3.25	(0.30)	0.00	(0.04)	0.00	0.00	9.00	(6.89)	20.52
OFIX	1.86	0.06	0.04	0.14	2.04	(2.06)	3.90	(3.85)	12.11
KIDS	2.61	(0.36)	0.00	(0.15)	0.00	0.00	5.04	(5.08)	19.39
ITGR	1.24	0.03	0.04	0.13	1.44	(1.30)	2.48	(2.16)	7.64
CNMD	1.82	0.00	0.00	0.10	2.28	(1.83)	4.57	(3.83)	11.47
ESTA	3.31	(0.14)	(0.01)	0.02	4.15	(3.46)	8.20	(7.22)	22.26
SGHT	3.06	(1.05)	0.00	(0.22)	0.00	0.00	6.96	(7.84)	18.22
FNA	3.85	0.27	0.11	0.19	4.04	(4.41)	7.83	(6.30)	43.16

Treace Medical Corporate Management

Shana Zink	Senior Reimbursement	Profile
Julie Dewey	Chief Officer	Profile
Scot JD	Chief Secretary	Profile
Thomas Timbie	Independent Director	Profile
John Treace	Founder CEO	Profile
Sean Scanlan	Chief Officer	Profile
Nathan Minnich	Senior Marketing	Profile

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