Si Bone Correlations

SIBN Stock

USD 14.79 0.43 2.83%

The current 90-days correlation between Si Bone and Orthopediatrics Corp is 0.3 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Si Bone moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Si Bone moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Si Bone Correlation With Market

Weak diversification

The correlation between Si Bone and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Si Bone and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Si Bone. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

To learn how to invest in SIBN Stock, please use our How to Invest in Si Bone guide.

Moving together with SIBN Stock

0.8	GH	Guardant Health	Pair Corr
0.88	LH	Laboratory	Pair Corr
0.74	DXCM	DexCom Inc	Pair Corr
0.75	ABT	Abbott Laboratories	Pair Corr
0.75	AGL	agilon health	Pair Corr
0.73	ALC	Alcon AG	Pair Corr

Moving against SIBN Stock

0.66	ESTA	Establishment Labs	Pair Corr
0.63	EUDA	EUDA Health Holdings	Pair Corr
0.62	OM	Outset Medical	Pair Corr
0.58	EMBC	Embecta Corp	Pair Corr
0.56	VREX	Varex Imaging Corp	Pair Corr
0.42	VVOS	Vivos Therapeutics Earnings Call This Week	Pair Corr
0.42	ELAB	Elevai Labs, Common Upward Rally	Pair Corr
0.36	DRIO	DarioHealth Corp Earnings Call This Week	Pair Corr
0.36	WORX	Scworx Corp	Pair Corr
0.34	EKSO	Ekso Bionics Holdings	Pair Corr
0.83	FLGT	Fulgent Genetics	Pair Corr
0.76	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr
0.6	FOXO	FOXO Technologies	Pair Corr
0.53	DXR	Daxor	Pair Corr
0.5	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.46	DHR	Danaher	Pair Corr
0.39	XAIR	Beyond Air	Pair Corr

Related Correlations Analysis

	NUVA	CNMD	KIDS	LUNG	IRMD	OFIX	NPCE	ITGR	SGHT	RPID
NUVA		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NUVA
CNMD	0.0		-0.16	-0.81	0.41	0.55	0.12	0.75	0.74	-0.67	CNMD
KIDS	0.0	-0.16		-0.08	0.44	0.16	0.33	0.14	-0.51	0.2	KIDS
LUNG	0.0	-0.81	-0.08		-0.4	-0.42	-0.01	-0.68	-0.52	0.58	LUNG
IRMD	0.0	0.41	0.44	-0.4		0.71	0.75	0.74	-0.13	0.1	IRMD
OFIX	0.0	0.55	0.16	-0.42	0.71		0.64	0.86	0.11	0.13	OFIX
NPCE	0.0	0.12	0.33	-0.01	0.75	0.64		0.5	-0.34	0.37	NPCE
ITGR	0.0	0.75	0.14	-0.68	0.74	0.86	0.5		0.37	-0.22	ITGR
SGHT	0.0	0.74	-0.51	-0.52	-0.13	0.11	-0.34	0.37		-0.79	SGHT
RPID	0.0	-0.67	0.2	0.58	0.1	0.13	0.37	-0.22	-0.79		RPID
	NUVA	CNMD	KIDS	LUNG	IRMD	OFIX	NPCE	ITGR	SGHT	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

ITGR	+ 0.86	OFIX
ITGR	+ 0.75	CNMD
NPCE	+ 0.75	IRMD
SGHT	+ 0.74	CNMD
ITGR	+ 0.74	IRMD
OFIX	+ 0.71	IRMD

High negative correlations

LUNG	- 0.81	CNMD
RPID	- 0.79	SGHT
ITGR	- 0.68	LUNG
RPID	- 0.67	CNMD
SGHT	- 0.52	LUNG
SGHT	- 0.51	KIDS

Risk-Adjusted Indicators

There is a big difference between SIBN Stock performing well and Si Bone 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 Si Bone'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
NUVA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNMD	1.64	(0.20)	0.00	(0.33)	0.00	0.00	3.52	(3.53)	13.79
KIDS	1.91	0.28	0.12	0.19	2.17	(2.05)	3.54	(3.39)	15.28
LUNG	3.37	0.42	0.14	(3.45)	3.34	(3.78)	6.59	(5.54)	41.39
IRMD	1.36	(0.01)	0.00	(0.10)	0.00	0.00	2.43	(2.77)	11.55
OFIX	1.23	(0.05)	0.00	(0.16)	0.00	0.00	2.18	(2.74)	6.60
NPCE	3.21	0.24	0.05	0.08	3.81	(3.43)	5.89	(6.82)	17.98
ITGR	1.11	(0.14)	0.00	(0.24)	0.00	0.00	1.68	(2.80)	8.30
SGHT	3.26	(0.36)	0.00	(0.44)	0.00	0.00	7.19	(6.05)	24.66
RPID	6.85	1.88	0.26	0.49	5.48	(9.01)	21.64	(10.00)	47.40

Si Bone Corporate Management

Anshul Maheshwari	Chief Officer	Profile
Aimee Einstein	Vice Culture	Profile
Daniel Cher	Senior Affairs	Profile
Michael Pisetsky	General Counsel and Chief Compliance Officer	Profile
Laura MBA	CEO Director	Profile

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