ZimVie Correlations

ZIMV Stock

USD 11.89 0.13 1.08%

The current 90-days correlation between ZimVie Inc and Orthopediatrics Corp is 0.34 (i.e., Weak diversification). The correlation of ZimVie 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.

ZimVie Correlation With Market

Weak diversification

The correlation between ZimVie Inc and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ZimVie Inc 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 ZimVie Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with ZimVie Stock

0.64	VREX	Varex Imaging Corp	Pair Corr
0.62	VVOS	Vivos Therapeutics Earnings Call This Week	Pair Corr
0.7	EKSO	Ekso Bionics Holdings	Pair Corr
0.79	ELAB	Elevai Labs, Common Trending	Pair Corr
0.73	ELMD	Electromed Potential Growth	Pair Corr
0.74	EMBC	Embecta Corp	Pair Corr
0.83	ENOV	Enovis Corp	Pair Corr
0.69	ENSG	Ensign Group	Pair Corr
0.83	WORX	Scworx Corp	Pair Corr
0.77	FIGS	Figs Inc	Pair Corr
0.68	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.71	XAIR	Beyond Air	Pair Corr

Moving against ZimVie Stock

0.66	FEMY	Femasys	Pair Corr
0.62	CI	Cigna Corp	Pair Corr
0.46	DOCS	Doximity	Pair Corr
0.4	EHAB	Enhabit	Pair Corr
0.33	VEEV	Veeva Systems Class	Pair Corr
0.33	EDAP	EDAP TMS SA	Pair Corr
0.67	DGX	Quest Diagnostics	Pair Corr
0.66	BKD	Brookdale Senior Living	Pair Corr
0.62	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.59	CHE	Chemed Corp	Pair Corr
0.55	BAX	Baxter International	Pair Corr
0.47	ABT	Abbott Laboratories	Pair Corr
0.47	AGL	agilon health	Pair Corr
0.45	COR	Cencora	Pair Corr

Related Correlations Analysis

	SYK	BSX	STE	SNN	NUVA	CNMD	KIDS	LUNG	SIBN	NPCE
SYK		0.85	0.61	0.24	0.0	-0.1	0.36	0.14	0.81	0.73	SYK
BSX	0.85		0.69	0.3	0.0	-0.41	0.47	0.34	0.9	0.67	BSX
STE	0.61	0.69		0.76	0.0	-0.58	0.34	0.44	0.59	0.21	STE
SNN	0.24	0.3	0.76		0.0	-0.75	0.13	0.65	0.32	-0.2	SNN
NUVA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	NUVA
CNMD	-0.1	-0.41	-0.58	-0.75	0.0		-0.15	-0.82	-0.37	0.16	CNMD
KIDS	0.36	0.47	0.34	0.13	0.0	-0.15		-0.07	0.41	0.3	KIDS
LUNG	0.14	0.34	0.44	0.65	0.0	-0.82	-0.07		0.4	-0.03	LUNG
SIBN	0.81	0.9	0.59	0.32	0.0	-0.37	0.41	0.4		0.72	SIBN
NPCE	0.73	0.67	0.21	-0.2	0.0	0.16	0.3	-0.03	0.72		NPCE
	SYK	BSX	STE	SNN	NUVA	CNMD	KIDS	LUNG	SIBN	NPCE

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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

SIBN	+ 0.9	BSX
BSX	+ 0.85	SYK
SIBN	+ 0.81	SYK
SNN	+ 0.76	STE
NPCE	+ 0.73	SYK
NPCE	+ 0.72	SIBN

High negative correlations

LUNG	- 0.82	CNMD
CNMD	- 0.75	SNN
CNMD	- 0.58	STE
CNMD	- 0.41	BSX
SIBN	- 0.37	CNMD
NPCE	- 0.2	SNN

Risk-Adjusted Indicators

There is a big difference between ZimVie Stock performing well and ZimVie 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 ZimVie'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
SYK	1.01	0.04	0.00	(0.04)	0.00	0.00	2.25	(1.71)	6.96
BSX	0.96	0.22	0.14	0.18	1.53	(0.94)	1.88	(2.65)	9.35
STE	0.92	0.13	0.18	0.24	0.91	(0.99)	2.12	(1.58)	5.46
SNN	1.15	0.22	0.18	0.38	1.29	(1.26)	2.38	(2.30)	10.31
NUVA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNMD	1.65	(0.21)	0.00	(0.35)	0.00	0.00	3.52	(3.53)	13.79
KIDS	1.90	0.28	0.12	0.18	2.17	(2.04)	3.54	(3.39)	15.28
LUNG	3.35	0.40	0.14	(3.05)	3.34	(3.75)	6.59	(5.54)	41.39
SIBN	2.44	0.25	0.09	0.08	2.28	(3.35)	5.29	(3.92)	22.82
NPCE	3.16	0.19	0.04	0.04	3.87	(3.32)	5.89	(6.82)	17.98

ZimVie Corporate Management

Indraneel Kanaglekar	Senior Officer	Profile
Benjamin Hutson	VP Operations	Profile
Steve Rondeau	Senior Officer	Profile
Michael Minette	Sr Devel	Profile
Ann Vu	Quality Affairs	Profile
Rebecca Whitney	Senior Spine	Profile

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