Xtant Medical Correlations

XTNT Stock

USD 0.45 0.04 8.16%

The correlation of Xtant Medical 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Xtant Medical Correlation With Market

Average diversification

The correlation between Xtant Medical Holdings and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xtant Medical Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Xtant Medical Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Xtant Stock

0.84	RVP	Retractable Technologies Earnings Call This Week	Pair Corr
0.78	MLSS	Milestone Scientific Earnings Call This Week	Pair Corr
0.81	PLX	Protalix Biotherapeutics	Pair Corr

Moving against Xtant Stock

0.43	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.57	ADVM	Adverum Biotechnologies	Pair Corr
0.53	INBX	Inhibrx Symbol Change	Pair Corr
0.39	ZURA	Zura Bio Limited	Pair Corr
0.39	ATNF	180 Life Sciences	Pair Corr
0.36	MLTX	MoonLake Immunotherapeuti	Pair Corr

Related Correlations Analysis

	NPCE	ELMD	KIDS	SRDX	FNA	OSA	LIVN	ANIK	HSKA	AIMD
NPCE		0.57	0.11	0.12	0.36	0.0	0.48	0.54	0.0	0.66	NPCE
ELMD	0.57		0.23	0.51	-0.21	0.0	0.82	0.26	0.0	0.69	ELMD
KIDS	0.11	0.23		-0.36	0.27	0.0	-0.06	-0.16	0.0	0.48	KIDS
SRDX	0.12	0.51	-0.36		-0.81	0.0	0.76	-0.1	0.0	0.18	SRDX
FNA	0.36	-0.21	0.27	-0.81		0.0	-0.42	0.54	0.0	0.12	FNA
OSA	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	OSA
LIVN	0.48	0.82	-0.06	0.76	-0.42	0.0		0.22	0.0	0.52	LIVN
ANIK	0.54	0.26	-0.16	-0.1	0.54	0.0	0.22		0.0	0.17	ANIK
HSKA	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HSKA
AIMD	0.66	0.69	0.48	0.18	0.12	0.0	0.52	0.17	0.0		AIMD
	NPCE	ELMD	KIDS	SRDX	FNA	OSA	LIVN	ANIK	HSKA	AIMD

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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

LIVN	+ 0.82	ELMD
LIVN	+ 0.76	SRDX
AIMD	+ 0.69	ELMD
AIMD	+ 0.66	NPCE
ELMD	+ 0.57	NPCE
ANIK	+ 0.54	NPCE

High negative correlations

FNA	- 0.81	SRDX
LIVN	- 0.42	FNA
SRDX	- 0.36	KIDS
FNA	- 0.21	ELMD
ANIK	- 0.16	KIDS
ANIK	- 0.1	SRDX

Risk-Adjusted Indicators

There is a big difference between Xtant Stock performing well and Xtant 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 Xtant 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
NPCE	3.17	0.20	0.06	2.38	3.79	(3.37)	5.89	(6.82)	17.98
ELMD	2.31	(0.15)	0.00	(0.18)	0.00	0.00	3.90	(4.34)	21.31
KIDS	1.90	0.23	0.11	0.22	1.98	(2.15)	3.54	(3.09)	15.28
SRDX	1.51	(0.38)	0.00	(0.67)	0.00	0.00	2.15	(5.79)	10.84
FNA	1.11	0.31	0.21	0.97	1.06	(1.52)	3.78	(3.09)	8.63
OSA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIVN	1.67	(0.27)	0.00	(0.43)	0.00	0.00	2.87	(3.78)	20.10
ANIK	1.43	(0.08)	0.00	(0.11)	0.00	0.00	2.68	(2.32)	14.35
HSKA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AIMD	5.84	0.75	0.11	(3.45)	6.13	(8.18)	17.74	(9.46)	74.23

Xtant Medical Corporate Management

Scott Neils	Chief Officer	Profile
Kevin ODare	VP US	Profile
Catherine Lundy	Vice Resources	Profile
Mark Schallenberger	Chief Officer	Profile

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