ZimVie Correlations

ZIMV Stock

USD 13.10 0.09 0.68%

The current 90-days correlation between ZimVie Inc and Orthopediatrics Corp is 0.33 (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 0.35 (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

0.65	COO	Cooper Companies,	Pair Corr
0.76	DHR	Danaher	Pair Corr
0.61	RMD	ResMed Inc	Pair Corr
0.64	TFX	Teleflex Incorporated	Pair Corr
0.69	ILMN	Illumina	Pair Corr

Moving against ZimVie Stock

0.44	IDXX	IDEXX Laboratories	Pair Corr
0.41	PHGE	Biomx Inc	Pair Corr
0.32	GANX	Gain Therapeutics	Pair Corr

Related Correlations Analysis

	SYK	BSX	STE	SNN	NUVA	CNMD	KIDS	LUNG	SIBN	NPCE
SYK		0.61	0.9	0.57	0.0	0.03	0.53	0.04	0.48	0.43	SYK
BSX	0.61		0.7	0.32	0.0	-0.6	0.3	0.29	0.92	0.81	BSX
STE	0.9	0.7		0.63	0.0	-0.18	0.27	0.24	0.58	0.53	STE
SNN	0.57	0.32	0.63		0.0	-0.21	0.0	0.49	0.4	0.29	SNN
NUVA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	NUVA
CNMD	0.03	-0.6	-0.18	-0.21	0.0		0.12	-0.67	-0.61	-0.42	CNMD
KIDS	0.53	0.3	0.27	0.0	0.0	0.12		-0.1	0.19	0.14	KIDS
LUNG	0.04	0.29	0.24	0.49	0.0	-0.67	-0.1		0.37	0.2	LUNG
SIBN	0.48	0.92	0.58	0.4	0.0	-0.61	0.19	0.37		0.87	SIBN
NPCE	0.43	0.81	0.53	0.29	0.0	-0.42	0.14	0.2	0.87		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	+ 0.92	BSX
STE	+ 0.9	SYK
NPCE	+ 0.87	SIBN
NPCE	+ 0.81	BSX
STE	+ 0.7	BSX
SNN	+ 0.63	STE

High negative correlations

LUNG	- 0.67	CNMD
SIBN	- 0.61	CNMD
CNMD	- 0.6	BSX
NPCE	- 0.42	CNMD
CNMD	- 0.21	SNN
CNMD	- 0.18	STE

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	0.91	0.02	0.02	0.02	1.04	(0.99)	2.09	(1.70)	4.93
BSX	0.76	0.18	0.16	0.40	0.90	(0.83)	1.47	(1.50)	7.82
STE	0.81	0.08	0.08	0.14	0.83	(0.89)	2.09	(1.51)	5.46
SNN	1.04	0.19	0.17	0.47	0.99	(1.23)	1.78	(1.91)	7.39
NUVA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNMD	1.67	(0.21)	0.00	(0.22)	0.00	0.00	3.50	(3.54)	13.79
KIDS	1.94	(0.05)	0.00	(0.06)	0.00	0.00	3.54	(4.82)	14.60
LUNG	3.19	0.76	0.26	(1.03)	2.57	(3.80)	6.22	(5.01)	34.92
SIBN	2.47	0.64	0.30	0.63	1.89	(3.17)	5.55	(3.62)	22.82
NPCE	3.12	0.65	0.19	0.60	2.87	(3.64)	7.78	(4.57)	17.54

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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