Spine Injury Correlations

SPIN Etf

USD 31.51 0.20 0.64%

The current 90-days correlation between Spine Injury Solutions and JPMorgan Fundamental Data is 0.8 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Spine Injury moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Spine Injury Solutions moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Spine Injury Correlation With Market

Average diversification

The correlation between Spine Injury Solutions and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spine Injury Solutions 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 Spine Injury Solutions. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Spine Etf

0.66	EW	Edwards Lifesciences Corp	Pair Corr
0.91	GH	Guardant Health	Pair Corr
0.71	LH	Laboratory	Pair Corr
0.64	MD	Mednax Inc	Pair Corr
0.81	OM	Outset Medical	Pair Corr
0.8	DOCS	Doximity	Pair Corr
0.77	VEEV	Veeva Systems Class	Pair Corr
0.82	DXCM	DexCom Inc	Pair Corr
0.86	VREX	Varex Imaging Corp	Pair Corr
0.63	ECOR	Electrocore LLC	Pair Corr
0.77	VVOS	Vivos Therapeutics	Pair Corr
0.74	EHAB	Enhabit	Pair Corr
0.86	ELMD	Electromed	Pair Corr
0.77	EMBC	Embecta Corp	Pair Corr
0.83	ENOV	Enovis Corp	Pair Corr
0.87	BSX	Boston Scientific Corp	Pair Corr
0.81	CAH	Cardinal Health	Pair Corr

Moving against Spine Etf

0.83	DRIO	DarioHealth Corp	Pair Corr
0.81	EKSO	Ekso Bionics Holdings	Pair Corr
0.79	ELAB	Elevai Labs, Common	Pair Corr
0.73	VERO	Venus Concept	Pair Corr
0.69	EDAP	EDAP TMS SA	Pair Corr
0.44	ENSG	Ensign Group	Pair Corr
0.43	CI	Cigna Corp	Pair Corr
0.36	VNRX	Volitionrx	Pair Corr
0.85	EVH	Evolent Health	Pair Corr
0.79	BDX	Becton Dickinson	Pair Corr
0.78	ALC	Alcon AG	Pair Corr
0.75	CNC	Centene Corp	Pair Corr
0.71	BAX	Baxter International	Pair Corr
0.7	ELV	Elevance Health Fiscal Year End 22nd of January 2025	Pair Corr
0.65	MDT	Medtronic PLC	Pair Corr
0.61	FIGS	Figs Inc	Pair Corr
0.59	COO	Cooper Companies,	Pair Corr
0.5	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.47	BVS	Bioventus Downward Rally	Pair Corr
0.45	AWH	Aspira Womens Health	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.81	-0.52	-0.48	0.41	0.39	0.53	0.2	-0.05	-0.56	META
MSFT	0.81		-0.61	-0.3	0.61	0.03	0.69	0.45	-0.29	-0.64	MSFT
UBER	-0.52	-0.61		0.56	-0.7	0.17	-0.78	-0.54	0.64	0.81	UBER
F	-0.48	-0.3	0.56		-0.06	-0.15	-0.15	0.18	0.05	0.74	F
T	0.41	0.61	-0.7	-0.06		-0.23	0.85	0.81	-0.64	-0.5	T
A	0.39	0.03	0.17	-0.15	-0.23		-0.22	-0.44	0.68	0.18	A
CRM	0.53	0.69	-0.78	-0.15	0.85	-0.22		0.85	-0.73	-0.59	CRM
JPM	0.2	0.45	-0.54	0.18	0.81	-0.44	0.85		-0.8	-0.38	JPM
MRK	-0.05	-0.29	0.64	0.05	-0.64	0.68	-0.73	-0.8		0.45	MRK
XOM	-0.56	-0.64	0.81	0.74	-0.5	0.18	-0.59	-0.38	0.45		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

CRM	+ 0.85	T
JPM	+ 0.85	CRM
MSFT	+ 0.81	META
XOM	+ 0.81	UBER
JPM	+ 0.81	T
XOM	+ 0.74	F

High negative correlations

MRK	- 0.8	JPM
CRM	- 0.78	UBER
MRK	- 0.73	CRM
T	- 0.7	UBER
MRK	- 0.64	T
XOM	- 0.64	MSFT

Spine Injury Competition Risk-Adjusted Indicators

There is a big difference between Spine Etf performing well and Spine Injury ETF 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 Spine Injury'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
META	1.26	0.07	0.04	0.32	1.44	(1.43)	2.62	(3.15)	7.43
MSFT	0.87	0.01	0.00	(0.09)	1.61	(0.80)	1.78	(1.73)	8.14
UBER	1.72	(0.19)	0.00	(0.96)	0.00	0.00	2.67	(5.35)	20.41
F	1.39	(0.10)	0.00	(0.34)	0.00	0.00	2.38	(2.81)	11.21
T	0.96	0.05	0.03	0.20	1.15	(0.99)	1.93	(1.99)	7.95
A	1.12	(0.12)	0.00	(0.34)	0.00	0.00	2.43	(2.42)	8.06
CRM	1.47	0.33	0.20	6.67	1.34	(1.70)	3.18	(2.88)	14.80
JPM	1.06	0.26	0.19	(17.88)	1.04	(1.25)	1.99	(1.42)	15.87
MRK	0.96	(0.21)	0.00	(0.89)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.77	(0.15)	0.00	(0.76)	0.00	0.00	1.71	(2.14)	6.06

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC