LivaNova PLC Correlations

LIVN Stock

USD 40.43 0.41 1.00%

The current 90-days correlation between LivaNova PLC and Rxsight is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as LivaNova PLC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if LivaNova PLC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

LivaNova PLC Correlation With Market

Modest diversification

The correlation between LivaNova PLC and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LivaNova PLC and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in LivaNova PLC. 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.

To learn how to invest in LivaNova Stock, please use our How to Invest in LivaNova PLC guide.

Moving together with LivaNova Stock

0.66	LNDNF	Lundin Energy AB	Pair Corr
0.74	CAT	Caterpillar	Pair Corr
0.64	BA	Boeing	Pair Corr
0.82	AXP	American Express	Pair Corr
0.79	HPQ	HP Inc	Pair Corr
0.71	DIS	Walt Disney	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr

Moving against LivaNova Stock

0.82	CMRX	Chimerix Sell-off Trend	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.73	VZ	Verizon Communications	Pair Corr
0.64	T	ATT Inc Earnings Call This Week	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.49	NVRO	Nevro Corp	Pair Corr
0.48	BKLRF	Berkeley Energy	Pair Corr
0.38	IBM	International Business	Pair Corr
0.34	CSCO	Cisco Systems	Pair Corr
0.31	INTC	Intel	Pair Corr

Related Correlations Analysis

	RXST	AXGN	LUNG	OFIX	KIDS	ITGR	CNMD	ESTA	SGHT	FNA
RXST		-0.62	-0.66	0.47	-0.45	0.68	0.84	0.24	0.77	-0.67	RXST
AXGN	-0.62		0.43	0.15	0.49	-0.06	-0.42	-0.58	-0.72	0.6	AXGN
LUNG	-0.66	0.43		-0.45	-0.07	-0.69	-0.83	0.08	-0.53	0.52	LUNG
OFIX	0.47	0.15	-0.45		0.15	0.87	0.56	-0.48	0.05	0.02	OFIX
KIDS	-0.45	0.49	-0.07	0.15		0.12	-0.14	-0.5	-0.48	0.26	KIDS
ITGR	0.68	-0.06	-0.69	0.87	0.12		0.77	-0.34	0.35	-0.34	ITGR
CNMD	0.84	-0.42	-0.83	0.56	-0.14	0.77		0.02	0.69	-0.65	CNMD
ESTA	0.24	-0.58	0.08	-0.48	-0.5	-0.34	0.02		0.58	-0.52	ESTA
SGHT	0.77	-0.72	-0.53	0.05	-0.48	0.35	0.69	0.58		-0.87	SGHT
FNA	-0.67	0.6	0.52	0.02	0.26	-0.34	-0.65	-0.52	-0.87		FNA
	RXST	AXGN	LUNG	OFIX	KIDS	ITGR	CNMD	ESTA	SGHT	FNA

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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	+ 0.87	OFIX
CNMD	+ 0.84	RXST
SGHT	+ 0.77	RXST
CNMD	+ 0.77	ITGR
SGHT	+ 0.69	CNMD
ITGR	+ 0.68	RXST

High negative correlations

FNA	- 0.87	SGHT
CNMD	- 0.83	LUNG
SGHT	- 0.72	AXGN
ITGR	- 0.69	LUNG
FNA	- 0.67	RXST
LUNG	- 0.66	RXST

Risk-Adjusted Indicators

There is a big difference between LivaNova Stock performing well and LivaNova PLC 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 LivaNova PLC'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
RXST	2.20	(0.53)	0.00	(0.70)	0.00	0.00	3.73	(5.04)	15.79
AXGN	2.68	0.41	0.16	0.42	2.46	(3.74)	5.97	(3.56)	21.80
LUNG	3.35	0.40	0.13	(1.90)	3.33	(3.75)	6.59	(5.54)	41.39
OFIX	1.24	(0.09)	0.00	(0.18)	0.00	0.00	2.18	(2.74)	6.60
KIDS	1.92	0.23	0.10	0.17	2.18	(2.09)	3.54	(3.39)	15.28
ITGR	1.10	(0.16)	0.00	(0.24)	0.00	0.00	1.68	(2.80)	8.30
CNMD	1.66	(0.25)	0.00	(0.40)	0.00	0.00	3.52	(3.53)	13.79
ESTA	3.78	0.02	0.00	(0.06)	0.00	0.00	7.41	(8.29)	31.96
SGHT	3.37	(0.23)	0.00	(0.30)	0.00	0.00	7.19	(6.05)	24.66
FNA	1.22	0.35	0.25	2.68	1.10	(1.58)	3.78	(3.09)	8.63

LivaNova PLC Corporate Management

Lindsey Little	Director Relations	Profile
Natalia Kozmina	Chief Officer	Profile
Philip Kowalczyk	Chief Officer	Profile
Alex CMA	Chief Officer	Profile

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