TransMedics Correlations

TMDX Stock

USD 78.58 2.54 3.34%

The current 90-days correlation between TransMedics Group and Inspire Medical Systems is -0.11 (i.e., Good 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.

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 together with TransMedics Stock

0.91	AGL	agilon health Buyout Trend	Pair Corr
0.82	AMN	AMN Healthcare Services	Pair Corr
0.78	FORA	Forian Inc	Pair Corr
0.86	EVH	Evolent Health	Pair Corr
0.65	IVP	Inspire Veterinary	Pair Corr
0.75	PHG	Koninklijke Philips	Pair Corr
0.74	ADUS	Addus HomeCare	Pair Corr
0.67	ATPC	Agape ATP	Pair Corr
0.68	CYRX	Cryoport	Pair Corr
0.64	A	Agilent Technologies	Pair Corr
0.86	ME	23Andme Holding	Pair Corr
0.76	VALN	Valneva SE ADR	Pair Corr

Moving against TransMedics Stock

0.76	VMD	Viemed Healthcare	Pair Corr
0.68	DOCS	Doximity	Pair Corr
0.62	FOXO	FOXO Technologies	Pair Corr
0.59	ITGR	Integer Holdings Corp	Pair Corr
0.44	VEEV	Veeva Systems Class	Pair Corr
0.71	OMIC	Singular Genomics Systems	Pair Corr
0.68	NXGL	Nexgel Inc	Pair Corr
0.63	MMSI	Merit Medical Systems	Pair Corr
0.53	CRVL	CorVel Corp	Pair Corr
0.33	NXGLW	NexGel Warrant	Pair Corr
0.91	EXEL	Exelixis	Pair Corr
0.87	BMY	Bristol Myers Squibb Sell-off Trend	Pair Corr
0.73	EWTX	Edgewise Therapeutics	Pair Corr
0.49	KZR	Kezar Life Sciences	Pair Corr
0.42	KTTAW	Pasithea Therapeutics	Pair Corr
0.41	VRDN	Viridian Therapeutics	Pair Corr

Related Correlations Analysis

	INSP	NARI	INMD	PODD	SILK	LUNG	OFIX	TELA	CVRX
INSP		-0.44	-0.25	-0.05	-0.46	0.55	-0.57	-0.66	-0.49	INSP
NARI	-0.44		0.75	0.59	0.64	-0.23	0.84	0.7	0.87	NARI
INMD	-0.25	0.75		0.72	0.64	-0.14	0.64	0.48	0.75	INMD
PODD	-0.05	0.59	0.72		0.83	-0.18	0.42	0.13	0.61	PODD
SILK	-0.46	0.64	0.64	0.83		-0.45	0.57	0.36	0.63	SILK
LUNG	0.55	-0.23	-0.14	-0.18	-0.45		-0.13	-0.21	-0.3	LUNG
OFIX	-0.57	0.84	0.64	0.42	0.57	-0.13		0.81	0.79	OFIX
TELA	-0.66	0.7	0.48	0.13	0.36	-0.21	0.81		0.74	TELA
CVRX	-0.49	0.87	0.75	0.61	0.63	-0.3	0.79	0.74		CVRX
	INSP	NARI	INMD	PODD	SILK	LUNG	OFIX	TELA	CVRX

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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

CVRX	+ 0.87	NARI
OFIX	+ 0.84	NARI
SILK	+ 0.83	PODD
TELA	+ 0.81	OFIX
CVRX	+ 0.79	OFIX
INMD	+ 0.75	NARI

High negative correlations

TELA	- 0.66	INSP
OFIX	- 0.57	INSP
CVRX	- 0.49	INSP
SILK	- 0.46	INSP
LUNG	- 0.45	SILK
NARI	- 0.44	INSP

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
INSP	2.13	(0.15)	(0.02)	0.03	2.62	(2.26)	4.95	(5.08)	16.85
NARI	2.25	0.15	0.02	0.91	2.19	(2.74)	6.30	(3.87)	19.78
INMD	2.19	0.08	0.07	0.16	2.71	(2.29)	4.91	(5.21)	17.38
PODD	1.34	0.52	0.35	4.15	0.64	(1.66)	3.36	(1.72)	12.33
SILK	0.16	0.02	(0.40)	1.54	0.03	(0.21)	0.41	(0.33)	1.14
LUNG	3.27	(0.19)	(0.01)	0.03	4.10	(3.67)	9.00	(6.89)	20.52
OFIX	1.87	0.04	0.04	0.15	2.03	(2.09)	3.90	(3.85)	12.11
TELA	2.64	0.06	0.00	0.27	2.69	(3.47)	6.43	(4.83)	15.40
CVRX	4.12	0.98	0.21	1.83	3.55	(5.18)	12.31	(8.22)	41.08

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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