Xtant Medical Correlations

XTNT Stock

USD 0.56 0.01 1.75%

The current 90-days correlation between Xtant Medical Holdings and Neuropace is -0.02 (i.e., Good diversification). 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

Significant diversification

The correlation between Xtant Medical Holdings and DJI is 0.09 (i.e., Significant 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

0.69	ANGO	AngioDynamics	Pair Corr
0.75	CUE	Cue Biopharma	Pair Corr
0.86	OPT	Opthea Earnings Call Tomorrow	Pair Corr
0.84	GANX	Gain Therapeutics	Pair Corr
0.65	TMO	Thermo Fisher Scientific	Pair Corr
0.81	LTRN	Lantern Pharma	Pair Corr
0.78	PHGE	Biomx Inc	Pair Corr

Moving against Xtant Stock

0.8	EXAS	EXACT Sciences	Pair Corr
0.65	EMBC	Embecta Corp	Pair Corr
0.5	TFX	Teleflex Incorporated	Pair Corr
0.46	DHR	Danaher	Pair Corr
0.36	COO	Cooper Companies, Earnings Call Tomorrow	Pair Corr
0.31	WST	West Pharmaceutical	Pair Corr
0.87	INZY	Inozyme Pharma	Pair Corr
0.86	ADTX	Aditxt Inc	Pair Corr
0.83	ABOS	Acumen Pharmaceuticals	Pair Corr
0.67	KURA	Kura Oncology	Pair Corr
0.64	ILMN	Illumina	Pair Corr
0.36	NAMSW	NewAmsterdam Pharma	Pair Corr

Related Correlations Analysis

	NPCE	ELMD	KIDS	SRDX	FNA	OSA	LIVN	ANIK	HSKA	AIMD
NPCE		0.54	0.43	-0.72	0.6	0.0	-0.14	0.12	0.0	0.59	NPCE
ELMD	0.54		0.64	-0.49	0.43	0.0	0.15	-0.16	0.0	0.67	ELMD
KIDS	0.43	0.64		-0.34	0.25	0.0	0.17	-0.14	0.0	0.61	KIDS
SRDX	-0.72	-0.49	-0.34		-0.77	0.0	0.25	-0.34	0.0	-0.54	SRDX
FNA	0.6	0.43	0.25	-0.77		0.0	0.09	0.43	0.0	0.65	FNA
OSA	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	OSA
LIVN	-0.14	0.15	0.17	0.25	0.09	0.0		0.14	0.0	0.17	LIVN
ANIK	0.12	-0.16	-0.14	-0.34	0.43	0.0	0.14		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	0.59	0.67	0.61	-0.54	0.65	0.0	0.17	-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

AIMD	+ 0.67	ELMD
AIMD	+ 0.65	FNA
KIDS	+ 0.64	ELMD
AIMD	+ 0.61	KIDS
FNA	+ 0.6	NPCE
AIMD	+ 0.59	NPCE

High negative correlations

FNA	- 0.77	SRDX
SRDX	- 0.72	NPCE
AIMD	- 0.54	SRDX
SRDX	- 0.49	ELMD
ANIK	- 0.34	SRDX
SRDX	- 0.34	KIDS

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	2.98	0.54	0.16	0.68	2.96	(3.46)	7.50	(5.99)	14.15
ELMD	2.50	(0.25)	0.00	(0.35)	0.00	0.00	5.82	(6.04)	21.31
KIDS	1.93	(0.15)	0.00	(0.25)	0.00	0.00	3.32	(5.29)	14.60
SRDX	0.92	(0.18)	0.00	(0.60)	0.00	0.00	1.68	(4.06)	9.34
FNA	1.63	0.42	0.20	2.34	1.47	(1.94)	4.00	(3.54)	9.28
OSA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIVN	1.50	(0.39)	0.00	0.33	0.00	0.00	2.87	(3.78)	7.60
ANIK	1.25	0.02	0.01	(0.14)	1.44	(1.40)	2.82	(2.46)	6.97
HSKA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AIMD	5.85	0.90	0.12	0.35	6.06	(8.35)	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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