Treace Medical Correlations

TMCI Stock

USD 9.22 0.14 1.50%

The current 90-days correlation between Treace Medical Concepts and Rxsight is 0.22 (i.e., Modest 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

Modest diversification

The correlation between Treace Medical Concepts and DJI is 0.26 (i.e., Modest 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

0.9	CAH	Cardinal Health Earnings Call This Week	Pair Corr
0.92	HQY	HealthEquity	Pair Corr
0.68	HIMS	Hims Hers Health Sell-off Trend	Pair Corr
0.88	HSTM	HealthStream	Pair Corr
0.78	LNSR	LENSAR Inc	Pair Corr
0.69	MMSI	Merit Medical Systems	Pair Corr
0.92	PRVA	Privia Health Group	Pair Corr
0.9	ATEC	Alphatec Holdings Downward Rally	Pair Corr
0.65	STRM	Streamline Health	Pair Corr
0.68	CTKB	Cytek Biosciences	Pair Corr
0.8	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr

Moving against Treace Stock

0.79	EVH	Evolent Health	Pair Corr
0.78	GCTK	GlucoTrack	Pair Corr
0.74	TFX	Teleflex Incorporated	Pair Corr
0.32	VMD	Viemed Healthcare	Pair Corr
0.69	VALN	Valneva SE ADR	Pair Corr
0.68	ACET	Adicet Bio	Pair Corr
0.51	ERNA	Eterna Therapeutics	Pair Corr
0.45	FLGC	Flora Growth Corp	Pair Corr
0.4	SNDA	Sonida Senior Living	Pair Corr
0.39	MASS	908 Devices	Pair Corr
0.82	INZY	Inozyme Pharma	Pair Corr
0.72	PFE	Pfizer Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	RXST	AXGN	LUNG	OFIX	KIDS	ITGR	CNMD	ESTA	SGHT	FNA
RXST		-0.79	0.22	-0.11	0.5	-0.5	0.02	0.46	0.88	-0.79	RXST
AXGN	-0.79		0.0	-0.02	0.01	0.4	-0.13	-0.46	-0.64	0.49	AXGN
LUNG	0.22	0.0		0.26	0.34	0.04	0.37	0.31	0.16	-0.18	LUNG
OFIX	-0.11	-0.02	0.26		-0.05	0.79	0.86	-0.07	-0.45	0.57	OFIX
KIDS	0.5	0.01	0.34	-0.05		-0.16	-0.07	0.01	0.43	-0.48	KIDS
ITGR	-0.5	0.4	0.04	0.79	-0.16		0.62	-0.34	-0.68	0.75	ITGR
CNMD	0.02	-0.13	0.37	0.86	-0.07	0.62		0.15	-0.3	0.45	CNMD
ESTA	0.46	-0.46	0.31	-0.07	0.01	-0.34	0.15		0.46	-0.36	ESTA
SGHT	0.88	-0.64	0.16	-0.45	0.43	-0.68	-0.3	0.46		-0.93	SGHT
FNA	-0.79	0.49	-0.18	0.57	-0.48	0.75	0.45	-0.36	-0.93		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

SGHT	+ 0.88	RXST
CNMD	+ 0.86	OFIX
ITGR	+ 0.79	OFIX
FNA	+ 0.75	ITGR
CNMD	+ 0.62	ITGR
FNA	+ 0.57	OFIX

High negative correlations

FNA	- 0.93	SGHT
FNA	- 0.79	RXST
AXGN	- 0.79	RXST
SGHT	- 0.68	ITGR
SGHT	- 0.64	AXGN
ITGR	- 0.5	RXST

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	2.35	(0.65)	0.00	(1.30)	0.00	0.00	3.80	(7.09)	17.66
AXGN	2.80	0.58	0.13	(1.88)	3.56	(3.27)	5.35	(5.41)	20.05
LUNG	2.89	(0.04)	0.00	(0.08)	0.00	0.00	8.44	(5.32)	20.44
OFIX	1.49	0.19	0.09	0.37	1.76	(1.58)	3.14	(3.15)	12.11
KIDS	2.46	(0.07)	0.00	(0.02)	0.00	0.00	4.85	(6.44)	16.22
ITGR	1.14	0.11	0.06	0.29	1.33	(1.21)	1.88	(1.98)	9.03
CNMD	1.66	0.04	0.01	0.09	2.01	(1.69)	4.46	(3.54)	10.91
ESTA	2.98	(0.26)	0.00	(1.51)	0.00	0.00	5.73	(6.43)	37.82
SGHT	2.84	(0.99)	0.00	3.08	0.00	0.00	6.25	(8.24)	17.90
FNA	3.22	1.27	0.41	17.16	2.17	(3.98)	7.23	(4.28)	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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