Tenon Medical Correlations
| TNON Stock | USD 2.54 0.09 3.42% |
The current 90-days correlation between Tenon Medical and EUDA Health Holdings is -0.35 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tenon Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tenon Medical moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Tenon Medical Correlation With Market
Significant diversification
The correlation between Tenon Medical and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tenon Medical and DJI in the same portfolio, assuming nothing else is changed.
Tenon |
Moving together with Tenon Stock
Moving against Tenon Stock
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| 0.41 | ITGR | Integer Holdings Corp | PairCorr |
| 0.4 | DOCS | Doximity | PairCorr |
| 0.54 | NXGL | Nexgel Inc | PairCorr |
| 0.34 | CRVL | CorVel Corp | PairCorr |
| 0.58 | BMY | Bristol Myers Squibb Sell-off Trend | PairCorr |
| 0.5 | EXEL | Exelixis | PairCorr |
| 0.48 | KZR | Kezar Life Sciences | PairCorr |
| 0.47 | EWTX | Edgewise Therapeutics | PairCorr |
Related Correlations Analysis
| 0.41 | 0.45 | 0.69 | -0.42 | 0.0 | BEAT | ||
| 0.41 | 0.2 | 0.4 | -0.42 | 0.5 | EUDA | ||
| 0.45 | 0.2 | 0.62 | -0.48 | -0.09 | NUTX | ||
| 0.69 | 0.4 | 0.62 | -0.62 | -0.06 | HCTI | ||
| -0.42 | -0.42 | -0.48 | -0.62 | 0.19 | MGRX | ||
| 0.0 | 0.5 | -0.09 | -0.06 | 0.19 | ACON | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Tenon Stock performing well and Tenon 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 Tenon 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BEAT | 3.32 | 0.27 | 0.08 | 0.34 | 3.32 | 10.30 | 22.69 | |||
| EUDA | 4.61 | 0.09 | 0.01 | 0.27 | 6.74 | 9.70 | 26.33 | |||
| NUTX | 5.46 | 0.71 | 0.13 | 0.61 | 5.30 | 11.28 | 47.75 | |||
| HCTI | 7.71 | 2.10 | 0.20 | 6.22 | 8.22 | 10.34 | 131.09 | |||
| MGRX | 4.39 | (0.57) | 0.00 | (9.18) | 0.00 | 7.29 | 37.65 | |||
| ACON | 4.36 | (0.46) | 0.00 | (0.07) | 0.00 | 11.11 | 35.83 |
Tenon Medical Corporate Executives
Elected by the shareholders, the Tenon Medical's board of directors comprises two types of representatives: Tenon Medical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tenon. The board's role is to monitor Tenon Medical's management team and ensure that shareholders' interests are well served. Tenon Medical's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Tenon Medical's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Steven Dick | Executive CFO | Profile |