Tenon Medical Correlations

TNON Stock

USD 1.11 0.07 5.93%

The current 90-days correlation between Tenon Medical and Ainos Inc is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tenon Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tenon Medical moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tenon Medical Correlation With Market

Good diversification

The correlation between Tenon Medical and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tenon Medical 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 Tenon Medical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

To learn how to invest in Tenon Stock, please use our How to Invest in Tenon Medical guide.

Moving together with Tenon Stock

0.87	EYEN	Eyenovia	Pair Corr
0.68	LNDNF	Lundin Energy AB	Pair Corr
0.64	CAT	Caterpillar	Pair Corr
0.63	HPQ	HP Inc	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr

Moving against Tenon Stock

0.89	JNJ	Johnson Johnson	Pair Corr
0.86	NVRO	Nevro Corp	Pair Corr
0.86	T	ATT Inc Earnings Call This Week	Pair Corr
0.79	CMRX	Chimerix Sell-off Trend	Pair Corr
0.75	VZ	Verizon Communications	Pair Corr
0.75	IBM	International Business	Pair Corr
0.65	CSCO	Cisco Systems	Pair Corr
0.65	MCD	McDonalds	Pair Corr
0.61	BKLRF	Berkeley Energy	Pair Corr
0.59	CVX	Chevron Corp	Pair Corr
0.55	INTC	Intel	Pair Corr
0.5	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	AIMD	SSKN	NPCE	MOVE	TIVC	BBLG	INVO	MOTS	ASAPF
AIMD		0.09	0.73	0.17	0.34	0.39	0.0	0.0	0.42	AIMD
SSKN	0.09		-0.12	0.69	-0.06	0.5	0.0	0.0	0.71	SSKN
NPCE	0.73	-0.12		0.19	0.25	0.44	0.0	0.0	0.33	NPCE
MOVE	0.17	0.69	0.19		0.19	0.69	0.0	0.0	0.77	MOVE
TIVC	0.34	-0.06	0.25	0.19		0.08	0.0	0.0	-0.15	TIVC
BBLG	0.39	0.5	0.44	0.69	0.08		0.0	0.0	0.67	BBLG
INVO	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	INVO
MOTS	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	MOTS
ASAPF	0.42	0.71	0.33	0.77	-0.15	0.67	0.0	0.0		ASAPF
	AIMD	SSKN	NPCE	MOVE	TIVC	BBLG	INVO	MOTS	ASAPF

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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

ASAPF	+ 0.77	MOVE
NPCE	+ 0.73	AIMD
ASAPF	+ 0.71	SSKN
MOVE	+ 0.69	SSKN
BBLG	+ 0.69	MOVE
ASAPF	+ 0.67	BBLG

High negative correlations

ASAPF	- 0.15	TIVC
NPCE	- 0.12	SSKN
TIVC	- 0.06	SSKN
ASAPF	- 0.0	MOTS
ASAPF	- 0.0	INVO
MOTS	- 0.0	INVO

Risk-Adjusted Indicators

There is a big difference between Tenon Stock performing well and Tenon Medical 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 Tenon Medical'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
AIMD	5.88	0.53	0.09	(2.66)	6.02	(9.00)	17.74	(9.46)	74.23
SSKN	2.26	(0.16)	0.00	(0.55)	0.00	0.00	5.15	(5.40)	17.04
NPCE	3.15	0.26	0.06	0.11	3.80	(3.31)	5.89	(6.82)	17.98
MOVE	3.54	(1.32)	0.00	(1.63)	0.00	0.00	6.72	(13.22)	32.07
TIVC	9.84	1.46	0.19	(1.65)	7.57	(14.30)	10.48	(13.84)	221.76
BBLG	3.55	(0.37)	0.00	(0.39)	0.00	0.00	9.80	(7.87)	23.26
INVO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MOTS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASAPF	2.92	(0.47)	0.00	(2.19)	0.00	0.00	6.45	(6.67)	22.71

Tenon Medical Corporate Executives

Elected by the shareholders, the Tenon Medical's board of directors comprises two types of representatives: Tenon Medical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tenon. The board's role is to monitor Tenon Medical's management team and ensure that shareholders' interests are well served. Tenon Medical's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Tenon Medical's outside directors are responsible for providing unbiased perspectives on the board's policies.

Steven Dick

Executive CFO

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