Paragon 28 Correlations

FNA Stock

USD 13.03 0.02 0.15%

The current 90-days correlation between Paragon 28 and Iradimed Co is -0.05 (i.e., Good diversification). The correlation of Paragon 28 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.

Paragon 28 Correlation With Market

Average diversification

The correlation between Paragon 28 and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paragon 28 and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Paragon 28. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

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

Moving together with Paragon Stock

0.73	CI	Cigna Corp	Pair Corr
0.79	GH	Guardant Health	Pair Corr
0.85	LH	Laboratory	Pair Corr
0.75	DOCS	Doximity	Pair Corr
0.61	VEEV	Veeva Systems Class	Pair Corr
0.71	EDAP	EDAP TMS SA	Pair Corr
0.69	EHAB	Enhabit	Pair Corr
0.72	FEMY	Femasys	Pair Corr
0.94	ABT	Abbott Laboratories	Pair Corr
0.87	AGL	agilon health	Pair Corr
0.86	ALC	Alcon AG Sell-off Trend	Pair Corr
0.73	BAX	Baxter International	Pair Corr

Moving against Paragon Stock

0.83	EMBC	Embecta Corp	Pair Corr
0.79	VVOS	Vivos Therapeutics Earnings Call This Week	Pair Corr
0.77	ELAB	Elevai Labs, Common Trending	Pair Corr
0.74	OM	Outset Medical	Pair Corr
0.73	WORX	Scworx Corp	Pair Corr
0.72	FIGS	Figs Inc	Pair Corr
0.71	EKSO	Ekso Bionics Holdings	Pair Corr
0.69	VREX	Varex Imaging Corp	Pair Corr
0.58	EUDA	EUDA Health Holdings	Pair Corr
0.56	ESTA	Establishment Labs	Pair Corr
0.53	VNRX	Volitionrx Earnings Call This Week	Pair Corr
0.44	ENOV	Enovis Corp	Pair Corr
0.42	DRIO	DarioHealth Corp Earnings Call This Week	Pair Corr
0.41	VTAK	Catheter Precision	Pair Corr
0.4	VERO	Venus Concept Upward Rally	Pair Corr
0.34	ENSG	Ensign Group	Pair Corr
0.33	EW	Edwards Lifesciences Corp	Pair Corr
0.93	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr
0.79	DHR	Danaher	Pair Corr
0.77	FLGT	Fulgent Genetics	Pair Corr
0.72	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.71	FOXO	FOXO Technologies	Pair Corr
0.61	XAIR	Beyond Air	Pair Corr
0.6	DXR	Daxor	Pair Corr
0.34	COO	Cooper Companies,	Pair Corr

Related Correlations Analysis

	LUNG	IRMD	OFIX	NPCE	ITGR	GKOS	KIDS	CNMD	LIVN	SGHT
LUNG		-0.42	-0.44	-0.03	-0.69	-0.65	-0.07	-0.82	-0.62	-0.53	LUNG
IRMD	-0.42		0.73	0.75	0.75	0.71	0.41	0.45	0.59	-0.11	IRMD
OFIX	-0.44	0.73		0.67	0.87	0.7	0.15	0.56	0.78	0.09	OFIX
NPCE	-0.03	0.75	0.67		0.52	0.48	0.3	0.16	0.41	-0.32	NPCE
ITGR	-0.69	0.75	0.87	0.52		0.91	0.12	0.76	0.9	0.37	ITGR
GKOS	-0.65	0.71	0.7	0.48	0.91		0.03	0.74	0.86	0.46	GKOS
KIDS	-0.07	0.41	0.15	0.3	0.12	0.03		-0.15	-0.12	-0.49	KIDS
CNMD	-0.82	0.45	0.56	0.16	0.76	0.74	-0.15		0.79	0.72	CNMD
LIVN	-0.62	0.59	0.78	0.41	0.9	0.86	-0.12	0.79		0.53	LIVN
SGHT	-0.53	-0.11	0.09	-0.32	0.37	0.46	-0.49	0.72	0.53		SGHT
	LUNG	IRMD	OFIX	NPCE	ITGR	GKOS	KIDS	CNMD	LIVN	SGHT

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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

GKOS	+ 0.91	ITGR
LIVN	+ 0.9	ITGR
ITGR	+ 0.87	OFIX
LIVN	+ 0.86	GKOS
LIVN	+ 0.79	CNMD
LIVN	+ 0.78	OFIX

High negative correlations

CNMD	- 0.82	LUNG
ITGR	- 0.69	LUNG
GKOS	- 0.65	LUNG
LIVN	- 0.62	LUNG
SGHT	- 0.53	LUNG
SGHT	- 0.49	KIDS

Risk-Adjusted Indicators

There is a big difference between Paragon Stock performing well and Paragon 28 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 Paragon 28'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
LUNG	3.35	0.40	0.14	(3.05)	3.34	(3.75)	6.59	(5.54)	41.39
IRMD	1.34	(0.02)	0.00	(0.13)	0.00	0.00	2.43	(2.77)	11.55
OFIX	1.22	(0.09)	0.00	(0.20)	0.00	0.00	2.18	(2.74)	6.60
NPCE	3.16	0.19	0.04	0.04	3.87	(3.32)	5.89	(6.82)	17.98
ITGR	1.09	(0.15)	0.00	(0.26)	0.00	0.00	1.68	(2.80)	8.30
GKOS	2.40	(0.23)	0.00	(0.24)	0.00	0.00	4.97	(7.22)	24.99
KIDS	1.90	0.28	0.12	0.18	2.17	(2.04)	3.54	(3.39)	15.28
CNMD	1.65	(0.21)	0.00	(0.35)	0.00	0.00	3.52	(3.53)	13.79
LIVN	1.68	(0.23)	0.00	(0.46)	0.00	0.00	2.90	(3.78)	20.10
SGHT	3.31	(0.27)	0.00	(0.38)	0.00	0.00	7.19	(6.05)	24.66

Paragon 28 Corporate Management

Sanket JD	Deputy VP	Profile
Matthew Jarboe	Executive Officer	Profile
B Johnson	Director	Profile
Matthew Brinckman	Senior Relations	Profile
Matt Jarboe	Chief Commercial Officer	Profile

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