Sanara Medtech Correlations

SMTI Stock

USD 35.91 0.71 1.94%

The current 90-days correlation between Sanara Medtech and InfuSystems Holdings is 0.15 (i.e., Average diversification). The correlation of Sanara Medtech 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.

Sanara Medtech Correlation With Market

Weak diversification

The correlation between Sanara Medtech and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sanara Medtech 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 Sanara Medtech. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more detail on how to invest in Sanara Stock please use our How to Invest in Sanara Medtech guide.

Moving together with Sanara Stock

0.62	EW	Edwards Lifesciences Corp	Pair Corr
0.82	GH	Guardant Health	Pair Corr
0.8	LH	Laboratory	Pair Corr
0.72	MD	Mednax Inc	Pair Corr
0.65	OM	Outset Medical	Pair Corr
0.63	DOCS	Doximity	Pair Corr
0.64	VEEV	Veeva Systems Class Downward Rally	Pair Corr
0.74	DXCM	DexCom Inc	Pair Corr
0.83	VREX	Varex Imaging Corp	Pair Corr
0.66	ECOR	Electrocore LLC	Pair Corr
0.77	XAIR	Beyond Air	Pair Corr
0.84	CAH	Cardinal Health	Pair Corr
0.76	DGX	Quest Diagnostics	Pair Corr
0.64	HAE	Haemonetics	Pair Corr

Moving against Sanara Stock

0.78	DRIO	DarioHealth Corp	Pair Corr
0.65	VERO	Venus Concept	Pair Corr
0.46	EDAP	EDAP TMS SA	Pair Corr
0.41	CI	Cigna Corp Downward Rally	Pair Corr
0.84	XRAY	Dentsply Sirona	Pair Corr
0.81	FIGS	Figs Inc Upward Rally	Pair Corr
0.78	EKSO	Ekso Bionics Holdings	Pair Corr
0.78	DHR	Danaher	Pair Corr
0.73	COO	Cooper Companies,	Pair Corr
0.71	AHG	Akso Health Group	Pair Corr
0.61	MDT	Medtronic PLC	Pair Corr
0.52	FLGT	Fulgent Genetics	Pair Corr
0.44	CVS	CVS Health Corp	Pair Corr
0.36	FONR	Fonar	Pair Corr
0.31	SSY	SunLink Health Systems	Pair Corr
0.89	XTNT	Xtant Medical Holdings	Pair Corr
0.83	TFX	Teleflex Incorporated	Pair Corr
0.78	GCTK	GlucoTrack	Pair Corr
0.71	IDXX	IDEXX Laboratories	Pair Corr

Related Correlations Analysis

	INFU	PDEX	LMAT	UTMD	MLSS	DXR	MHUA	KRMD	POCI
INFU		0.89	0.88	-0.14	-0.4	0.11	-0.73	0.86	0.13	INFU
PDEX	0.89		0.93	-0.25	-0.37	0.21	-0.82	0.88	0.06	PDEX
LMAT	0.88	0.93		-0.04	-0.38	0.31	-0.73	0.82	0.16	LMAT
UTMD	-0.14	-0.25	-0.04		0.06	0.32	0.34	-0.38	0.38	UTMD
MLSS	-0.4	-0.37	-0.38	0.06		0.29	0.57	-0.08	0.41	MLSS
DXR	0.11	0.21	0.31	0.32	0.29		0.03	0.23	0.43	DXR
MHUA	-0.73	-0.82	-0.73	0.34	0.57	0.03		-0.66	0.38	MHUA
KRMD	0.86	0.88	0.82	-0.38	-0.08	0.23	-0.66		0.21	KRMD
POCI	0.13	0.06	0.16	0.38	0.41	0.43	0.38	0.21		POCI
	INFU	PDEX	LMAT	UTMD	MLSS	DXR	MHUA	KRMD	POCI

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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

LMAT	+ 0.93	PDEX
PDEX	+ 0.89	INFU
LMAT	+ 0.88	INFU
KRMD	+ 0.88	PDEX
KRMD	+ 0.86	INFU
KRMD	+ 0.82	LMAT

High negative correlations

MHUA	- 0.82	PDEX
MHUA	- 0.73	LMAT
MHUA	- 0.73	INFU
KRMD	- 0.66	MHUA
MLSS	- 0.4	INFU
KRMD	- 0.38	UTMD

Risk-Adjusted Indicators

There is a big difference between Sanara Stock performing well and Sanara Medtech 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 Sanara Medtech'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
INFU	2.77	0.43	0.16	0.41	2.55	(3.17)	6.69	(4.09)	22.10
PDEX	4.43	0.90	0.15	0.85	4.99	(4.83)	9.99	(9.76)	31.08
LMAT	1.44	0.09	0.08	0.18	1.44	(1.61)	3.12	(2.32)	11.19
UTMD	0.71	(0.15)	0.00	(0.05)	0.00	0.00	1.12	(1.51)	7.07
MLSS	3.29	(0.13)	0.00	(0.09)	0.00	0.00	9.68	(6.82)	33.40
DXR	2.29	(0.04)	(0.03)	0.03	2.73	(2.47)	5.27	(3.83)	12.94
MHUA	5.84	(0.71)	0.00	(0.41)	0.00	0.00	15.69	(13.11)	45.51
KRMD	2.93	0.74	0.18	(4.27)	2.70	(3.53)	7.63	(4.58)	18.87
POCI	3.26	(0.14)	(0.03)	0.00	4.07	(3.59)	7.25	(6.51)	17.26

Sanara Medtech Corporate Management

Bill Fitzgerald	Compliance Officer	Profile
Jacob Waldrop	Chief Officer	Profile
Callon Nichols	Director Relations	Profile
Jane Fore	Chief Officer	Profile
Tricia Matteson	Director Marketing	Profile

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