XTANT MEDICAL Correlations

Stocks . Germany . 
Stock . XTANT MEDICAL HLDGS
XMS Stock  EUR 0.34  0.01  3.03%   
The correlation of XTANT 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.

XTANT MEDICAL Correlation With Market

Significant diversification

The correlation between XTANT MEDICAL HLDGS 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 XTANT MEDICAL HLDGS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to XTANT MEDICAL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace XTANT MEDICAL when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back XTANT MEDICAL - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling XTANT MEDICAL HLDGS to buy it.

Moving against XTANT Stock

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  0.75GOV InsuletPairCorr
  0.72APC Apple IncPairCorr
  0.4TEV Teva PharmaceuticalPairCorr
  0.87H0O REVO INSURANCE SPAPairCorr
  0.84OM6 OReilly AutomotivePairCorr
  0.84ADH2 Air CanadaPairCorr
  0.81DC4 DexCom IncPairCorr
  0.8ENR Siemens Energy AGPairCorr
  0.73OCBA Oversea Chinese BankingPairCorr
  0.72BRYN Berkshire HathawayPairCorr
  0.69CSA Accenture plcPairCorr
  0.68GKD Grand Canyon EducationPairCorr
  0.56NOAA NokiaPairCorr
  0.5108 Sumitomo Rubber InduPairCorr
  0.5FTK flatexDEGIRO AGPairCorr
  0.461DH Clarkson PLCPairCorr
  0.393P7 Pandora A/SPairCorr
  0.38FR70 FAST RETAIL ADRPairCorr
  0.88BBEA Boston BeerPairCorr
  0.85QAN Qantas AirwaysPairCorr
  0.85TM5 T MobilePairCorr
  0.84BZZ Bank of MontrealPairCorr
  0.79SIX2 Sixt SEPairCorr
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Related Correlations Analysis

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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   
V1M
+ 1.0
SOQ
KGZ
+ 0.54
S9M
JAN
+ 0.53
SUI
MGC
+ 0.51
SUI
MGC
+ 0.41
JAN
JAN
+ 0.31
SEH
  
High negative correlations   
KGZ
- 0.48
SEH
SUI
- 0.35
SEH
KGZ
- 0.34
JAN
JAN
- 0.19
S9M
MGC
- 0.1
SEH
KGZ
- 0.0
V1M

Risk-Adjusted Indicators

There is a big difference between XTANT Stock performing well and XTANT 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 XTANT 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in XTANT MEDICAL without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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