Axogen Correlations

AXGN Stock

USD 13.90 0.17 1.21%

The current 90-days correlation between Axogen Inc and Anika Therapeutics is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Axogen moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Axogen Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Axogen Correlation With Market

Modest diversification

The correlation between Axogen Inc and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Axogen Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Axogen 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 price.

Moving against Axogen Stock

0.45	VNRX	Volitionrx	Pair Corr
0.36	DXCM	DexCom Inc Sell-off Trend	Pair Corr
0.31	VTAK	Catheter Precision	Pair Corr
0.42	FNA	Paragon 28	Pair Corr
0.34	LNSR	LENSAR Inc	Pair Corr
0.31	VANI	Vivani Medical	Pair Corr

Related Correlations Analysis

	ANIK	OFIX	SRDX	FNA	AORT	LUNG	ELMD	RXST	TMCI	NUVA
ANIK		-0.81	0.09	-0.59	-0.71	0.35	-0.77	0.58	-0.77	-0.27	ANIK
OFIX	-0.81		0.3	0.77	0.71	-0.22	0.62	-0.35	0.88	0.53	OFIX
SRDX	0.09	0.3		0.63	-0.12	0.34	-0.11	0.17	0.34	0.6	SRDX
FNA	-0.59	0.77	0.63		0.37	-0.1	0.47	-0.37	0.82	0.68	FNA
AORT	-0.71	0.71	-0.12	0.37		-0.39	0.72	-0.49	0.75	0.1	AORT
LUNG	0.35	-0.22	0.34	-0.1	-0.39		-0.53	0.46	-0.2	0.02	LUNG
ELMD	-0.77	0.62	-0.11	0.47	0.72	-0.53		-0.82	0.73	0.05	ELMD
RXST	0.58	-0.35	0.17	-0.37	-0.49	0.46	-0.82		-0.59	0.15	RXST
TMCI	-0.77	0.88	0.34	0.82	0.75	-0.2	0.73	-0.59		0.38	TMCI
NUVA	-0.27	0.53	0.6	0.68	0.1	0.02	0.05	0.15	0.38		NUVA
	ANIK	OFIX	SRDX	FNA	AORT	LUNG	ELMD	RXST	TMCI	NUVA

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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

TMCI	+ 0.88	OFIX
TMCI	+ 0.82	FNA
FNA	+ 0.77	OFIX
TMCI	+ 0.75	AORT
TMCI	+ 0.73	ELMD
ELMD	+ 0.72	AORT

High negative correlations

RXST	- 0.82	ELMD
OFIX	- 0.81	ANIK
TMCI	- 0.77	ANIK
ELMD	- 0.77	ANIK
AORT	- 0.71	ANIK
TMCI	- 0.59	RXST

Risk-Adjusted Indicators

There is a big difference between Axogen Stock performing well and Axogen 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 Axogen'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
ANIK	1.74	(0.68)	0.00	(0.30)	0.00	0.00	3.09	(2.96)	34.28
OFIX	1.86	0.03	0.04	0.15	2.06	(2.07)	3.90	(3.85)	12.11
SRDX	0.48	(0.06)	0.00	(0.03)	0.00	0.00	1.26	(1.01)	3.22
FNA	3.71	0.20	0.09	0.21	4.10	(4.00)	7.32	(6.30)	43.16
AORT	1.33	0.00	0.03	0.13	1.51	(1.43)	2.65	(2.63)	9.51
LUNG	3.18	(0.38)	0.00	(0.07)	0.00	0.00	8.44	(6.89)	20.44
ELMD	2.34	1.01	0.42	1.21	1.58	(2.94)	6.13	(3.70)	12.73
RXST	1.68	(0.36)	0.00	(0.18)	0.00	0.00	2.19	(5.18)	12.89
TMCI	3.14	0.02	0.16	0.13	2.55	(4.29)	6.08	(4.39)	38.73
NUVA	1.23	(0.03)	0.00	(2.18)	0.00	0.00	3.31	(2.75)	7.19

Axogen Corporate Executives

Elected by the shareholders, the Axogen's board of directors comprises two types of representatives: Axogen inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Axogen. The board's role is to monitor Axogen's management team and ensure that shareholders' interests are well served. Axogen'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, Axogen's outside directors are responsible for providing unbiased perspectives on the board's policies.

Peter Mariani

Ex CFO

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