TransMedics Correlations

TMDX Stock

USD 128.52 4.78 3.59%

The current 90-days correlation between TransMedics Group and Option Care Health is 0.1 (i.e., Average diversification). The correlation of TransMedics 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. If the correlation is 0, the equities are not correlated; they are entirely random.

TransMedics Correlation With Market

Weak diversification

The correlation between TransMedics Group and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TransMedics Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with TransMedics Stock

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

Moving against TransMedics Stock

0.54	XTNT	Xtant Medical Holdings	Pair Corr
0.43	OTC	Ocumetics Technology Corp	Pair Corr
0.38	IVF	INVO Fertility Symbol Change	Pair Corr
0.31	AHC	Austco Healthcare	Pair Corr
0.38	NVNO	enVVeno Medical Corp	Pair Corr
0.37	TNONW	Tenon Medical Warrant	Pair Corr
0.35	MMSI	Merit Medical Systems	Pair Corr
0.34	MLSS	Milestone Scientific	Pair Corr

Related Correlations Analysis

	OPCH	GKOS	AKRO	OSCR	IMVT	KYMR	NAMS	INDV	HNGE	BRKR
OPCH		0.85	0.84	-0.01	0.72	0.45	-0.76	0.42	-0.31	0.32	OPCH
GKOS	0.85		0.84	0.01	0.69	0.49	-0.69	0.63	-0.14	0.49	GKOS
AKRO	0.84	0.84		-0.12	0.87	0.55	-0.74	0.65	-0.23	0.33	AKRO
OSCR	-0.01	0.01	-0.12		-0.15	-0.12	0.12	0.14	0.69	0.64	OSCR
IMVT	0.72	0.69	0.87	-0.15		0.51	-0.62	0.49	-0.23	0.24	IMVT
KYMR	0.45	0.49	0.55	-0.12	0.51		-0.35	0.75	0.11	0.03	KYMR
NAMS	-0.76	-0.69	-0.74	0.12	-0.62	-0.35		-0.44	0.39	-0.16	NAMS
INDV	0.42	0.63	0.65	0.14	0.49	0.75	-0.44		0.26	0.38	INDV
HNGE	-0.31	-0.14	-0.23	0.69	-0.23	0.11	0.39	0.26		0.54	HNGE
BRKR	0.32	0.49	0.33	0.64	0.24	0.03	-0.16	0.38	0.54		BRKR
	OPCH	GKOS	AKRO	OSCR	IMVT	KYMR	NAMS	INDV	HNGE	BRKR

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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

IMVT	+ 0.87	AKRO
GKOS	+ 0.85	OPCH
AKRO	+ 0.84	OPCH
AKRO	+ 0.84	GKOS
INDV	+ 0.75	KYMR
IMVT	+ 0.72	OPCH

High negative correlations

NAMS	- 0.76	OPCH
NAMS	- 0.74	AKRO
NAMS	- 0.69	GKOS
NAMS	- 0.62	IMVT
INDV	- 0.44	NAMS
NAMS	- 0.35	KYMR

Risk-Adjusted Indicators

There is a big difference between TransMedics Stock performing well and TransMedics 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 TransMedics' 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
OPCH	1.46	0.31	0.21	0.81	1.00	(1.89)	4.59	(1.84)	10.83
GKOS	1.97	0.33	0.15	0.44	1.89	(2.43)	5.29	(3.93)	14.33
AKRO	1.14	0.27	0.22	0.41	0.63	(1.38)	3.29	(2.12)	16.73
OSCR	3.26	(0.37)	0.00	(0.21)	0.00	0.00	5.59	(7.46)	30.41
IMVT	2.32	0.09	0.04	0.15	2.41	(2.58)	4.47	(3.63)	15.37
KYMR	2.81	0.65	0.20	1.91	2.43	(3.26)	4.43	(4.46)	49.42
NAMS	2.39	(0.11)	0.00	(0.05)	0.00	0.00	4.72	(4.89)	13.34
INDV	1.32	0.00	0.02	0.00	1.39	(1.43)	3.08	(2.48)	7.35
HNGE	2.38	(0.17)	0.00	(0.22)	0.00	0.00	4.16	(4.47)	16.63
BRKR	2.17	(0.18)	0.00	(0.03)	0.00	0.00	4.23	(4.13)	12.82

TransMedics Corporate Management

Miriam Provost	Vice Affairs	Profile
Mark Anderson	Senior Development	Profile
Susan Goodman	Vice Resources	Profile
John Carey	VP Operations	Profile
Nick Corcoran	Senior Operations	Profile
Tamer MD	Chief Officer	Profile

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