Alphatec Holdings Correlations

ATEC Stock

USD 9.93 0.27 2.65%

The current 90-days correlation between Alphatec Holdings and Orthofix Medical is 0.51 (i.e., Very weak diversification). The correlation of Alphatec Holdings 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.

Alphatec Holdings Correlation With Market

Modest diversification

The correlation between Alphatec Holdings and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alphatec Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alphatec Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

For information on how to trade Alphatec Stock refer to our How to Trade Alphatec Stock guide.

Moving together with Alphatec Stock

0.73	RVP	Retractable Technologies Earnings Call This Week	Pair Corr
0.7	MLSS	Milestone Scientific Earnings Call This Week	Pair Corr
0.65	PLX	Protalix Biotherapeutics	Pair Corr

Moving against Alphatec Stock

0.5	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.43	ELVN	Enliven Therapeutics	Pair Corr
0.35	SSKN	STRATA Skin Sciences Earnings Call This Week	Pair Corr
0.34	MNDR	Mobile health Network	Pair Corr
0.69	INBX	Inhibrx Symbol Change	Pair Corr
0.54	ADVM	Adverum Biotechnologies	Pair Corr
0.48	ZURA	Zura Bio Limited	Pair Corr
0.41	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.39	ATNF	180 Life Sciences	Pair Corr
0.37	AVTE	Aerovate Therapeutics	Pair Corr
0.33	IMMX	Immix Biopharma	Pair Corr

Related Correlations Analysis

	GMED	OFIX	CNMD	LIVN	KIDS	ITGR	TMCI	ESTA	NUVA	LUNG
GMED		0.83	0.77	0.83	0.2	0.91	0.39	-0.39	0.0	-0.63	GMED
OFIX	0.83		0.57	0.8	0.15	0.88	0.65	-0.54	0.0	-0.46	OFIX
CNMD	0.77	0.57		0.8	-0.12	0.78	-0.09	-0.05	0.0	-0.83	CNMD
LIVN	0.83	0.8	0.8		-0.09	0.91	0.19	-0.21	0.0	-0.63	LIVN
KIDS	0.2	0.15	-0.12	-0.09		0.1	0.37	-0.46	0.0	-0.08	KIDS
ITGR	0.91	0.88	0.78	0.91	0.1		0.35	-0.38	0.0	-0.69	ITGR
TMCI	0.39	0.65	-0.09	0.19	0.37	0.35		-0.76	0.0	0.09	TMCI
ESTA	-0.39	-0.54	-0.05	-0.21	-0.46	-0.38	-0.76		0.0	0.12	ESTA
NUVA	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	NUVA
LUNG	-0.63	-0.46	-0.83	-0.63	-0.08	-0.69	0.09	0.12	0.0		LUNG
	GMED	OFIX	CNMD	LIVN	KIDS	ITGR	TMCI	ESTA	NUVA	LUNG

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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

ITGR	+ 0.91	GMED
ITGR	+ 0.91	LIVN
ITGR	+ 0.88	OFIX
OFIX	+ 0.83	GMED
LIVN	+ 0.83	GMED
LIVN	+ 0.8	OFIX

High negative correlations

LUNG	- 0.83	CNMD
ESTA	- 0.76	TMCI
LUNG	- 0.69	ITGR
LUNG	- 0.63	LIVN
LUNG	- 0.63	GMED
ESTA	- 0.54	OFIX

Risk-Adjusted Indicators

There is a big difference between Alphatec Stock performing well and Alphatec Holdings 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 Alphatec Holdings' 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
GMED	1.20	(0.11)	0.00	(0.19)	0.00	0.00	2.11	(3.18)	8.53
OFIX	1.23	(0.06)	0.00	(0.14)	0.00	0.00	2.18	(2.74)	6.60
CNMD	1.67	(0.22)	0.00	(0.35)	0.00	0.00	3.52	(3.53)	13.79
LIVN	1.67	(0.33)	0.00	(0.55)	0.00	0.00	2.87	(3.78)	20.10
KIDS	1.90	0.27	0.13	0.23	1.95	(2.11)	3.54	(3.09)	15.28
ITGR	1.15	(0.22)	0.00	(0.30)	0.00	0.00	1.68	(3.63)	8.30
TMCI	2.71	0.30	0.09	0.15	2.58	(3.19)	8.14	(4.19)	20.40
ESTA	3.77	0.02	0.00	(0.05)	0.00	0.00	7.41	(8.29)	31.96
NUVA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LUNG	3.29	0.47	0.15	(2.08)	3.16	(3.75)	6.59	(5.54)	41.39

Alphatec Holdings Corporate Management

Robert Judd	VP Controller	Profile
Ali Shorooghi	Senior Marketing	Profile
Eric Dasso	Executive Technologies	Profile
Joseph Walland	Senior Solutions	Profile

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