Bioventus Correlations

BVS Stock

USD 9.64 0.08 0.84%

The current 90-days correlation between Bioventus and Tivic Health Systems is -0.06 (i.e., Good diversification). The correlation of Bioventus 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.

Bioventus Correlation With Market

Average diversification

The correlation between Bioventus and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bioventus 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 Bioventus. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For more information on how to buy Bioventus Stock please use our How to Invest in Bioventus guide.

Moving together with Bioventus Stock

0.66	VREX	Varex Imaging Corp	Pair Corr
0.62	XAIR	Beyond Air	Pair Corr

Moving against Bioventus Stock

0.4	CAH	Cardinal Health	Pair Corr
0.39	BAX	Baxter International	Pair Corr
0.37	AGL	agilon health	Pair Corr
0.35	AHG	Akso Health Group	Pair Corr
0.33	COR	Cencora	Pair Corr
0.32	CVS	CVS Health Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	TIVC	TLIS	BJDX	HSCS	NUWE	BBLG	NAOV	VVOS	RPID
TIVC		0.0	-0.22	0.38	0.25	0.0	-0.11	-0.21	0.52	TIVC
TLIS	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	TLIS
BJDX	-0.22	0.0		0.05	0.07	0.0	0.19	-0.03	-0.34	BJDX
HSCS	0.38	0.0	0.05		0.1	0.59	0.63	0.29	-0.11	HSCS
NUWE	0.25	0.0	0.07	0.1		0.16	-0.31	-0.55	0.58	NUWE
BBLG	0.0	0.0	0.0	0.59	0.16		0.66	0.33	-0.18	BBLG
NAOV	-0.11	0.0	0.19	0.63	-0.31	0.66		0.65	-0.67	NAOV
VVOS	-0.21	0.0	-0.03	0.29	-0.55	0.33	0.65		-0.73	VVOS
RPID	0.52	0.0	-0.34	-0.11	0.58	-0.18	-0.67	-0.73		RPID
	TIVC	TLIS	BJDX	HSCS	NUWE	BBLG	NAOV	VVOS	RPID

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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

NAOV	+ 0.66	BBLG
VVOS	+ 0.65	NAOV
NAOV	+ 0.63	HSCS
BBLG	+ 0.59	HSCS
RPID	+ 0.58	NUWE
RPID	+ 0.52	TIVC

High negative correlations

RPID	- 0.73	VVOS
RPID	- 0.67	NAOV
VVOS	- 0.55	NUWE
RPID	- 0.34	BJDX
NAOV	- 0.31	NUWE
BJDX	- 0.22	TIVC

Risk-Adjusted Indicators

There is a big difference between Bioventus Stock performing well and Bioventus 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 Bioventus' 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
TIVC	9.65	1.27	0.18	(1.19)	7.48	(14.46)	7.76	(13.84)	221.76
TLIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BJDX	5.78	0.39	0.05	0.24	6.88	(6.45)	12.20	(12.80)	42.86
HSCS	3.06	(0.44)	0.00	(2.01)	0.00	0.00	6.41	(6.56)	19.85
NUWE	3.71	0.03	0.00	(0.05)	0.00	0.00	8.11	(6.92)	23.16
BBLG	3.53	(0.42)	0.00	(0.41)	0.00	0.00	9.80	(7.87)	23.26
NAOV	7.38	(0.60)	0.00	(0.67)	0.00	0.00	16.49	(16.06)	85.95
VVOS	4.40	(0.17)	0.00	(0.35)	0.00	0.00	9.54	(10.34)	28.71
RPID	6.85	1.88	0.26	0.49	5.48	(9.01)	21.64	(10.00)	47.40

Bioventus Corporate Management

Anthony JD	General VP	Profile
Kenneth Reali	CEO Director	Profile
MBA BS	Senior Operations	Profile
Helen Leupold	Senior Officer	Profile
Katrina Church	VP Officer	Profile
Alessandraa Pavesio	VP Officer	Profile

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