Enovis Corp Correlations

ENOV Stock

USD 48.81 0.36 0.74%

The current 90-days correlation between Enovis Corp and Helios Technologies is 0.64 (i.e., Poor diversification). The correlation of Enovis Corp 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.

Enovis Corp Correlation With Market

Poor diversification

The correlation between Enovis Corp and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enovis Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Enovis Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more information on how to buy Enovis Stock please use our How to Invest in Enovis Corp guide.

Moving together with Enovis Stock

0.89	GH	Guardant Health	Pair Corr
0.84	LH	Laboratory	Pair Corr
0.61	OM	Outset Medical	Pair Corr
0.66	VREX	Varex Imaging Corp	Pair Corr
0.84	FNA	Paragon 28	Pair Corr
0.75	SYK	Stryker	Pair Corr
0.78	ZBH	Zimmer Biomet Holdings	Pair Corr
0.81	MMSI	Merit Medical Systems	Pair Corr
0.82	NPCE	Neuropace	Pair Corr
0.86	OFIX	Orthofix Medical	Pair Corr

Moving against Enovis Stock

0.68	DRIO	DarioHealth Corp	Pair Corr
0.48	EKSO	Ekso Bionics Holdings	Pair Corr
0.6	MDT	Medtronic PLC	Pair Corr
0.48	CVS	CVS Health Corp Sell-off Trend	Pair Corr
0.52	EQ	Equillium	Pair Corr
0.46	ME	23Andme Holding Upward Rally	Pair Corr
0.35	VALN	Valneva SE ADR	Pair Corr

Related Correlations Analysis

	HLIO	NPO	OFLX	LXFR	HURC	IEX	WTS	DCI	GRC	EPAC
HLIO		0.67	0.62	0.88	0.88	0.9	0.81	0.95	0.86	0.91	HLIO
NPO	0.67		0.25	0.55	0.59	0.75	0.83	0.69	0.88	0.62	NPO
OFLX	0.62	0.25		0.75	0.47	0.68	0.52	0.66	0.57	0.73	OFLX
LXFR	0.88	0.55	0.75		0.83	0.92	0.69	0.89	0.77	0.91	LXFR
HURC	0.88	0.59	0.47	0.83		0.75	0.7	0.83	0.71	0.8	HURC
IEX	0.9	0.75	0.68	0.92	0.75		0.81	0.91	0.92	0.91	IEX
WTS	0.81	0.83	0.52	0.69	0.7	0.81		0.8	0.86	0.69	WTS
DCI	0.95	0.69	0.66	0.89	0.83	0.91	0.8		0.88	0.94	DCI
GRC	0.86	0.88	0.57	0.77	0.71	0.92	0.86	0.88		0.87	GRC
EPAC	0.91	0.62	0.73	0.91	0.8	0.91	0.69	0.94	0.87		EPAC
	HLIO	NPO	OFLX	LXFR	HURC	IEX	WTS	DCI	GRC	EPAC

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Risk-Adjusted Indicators

There is a big difference between Enovis Stock performing well and Enovis Corp 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 Enovis Corp'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
HLIO	1.70	0.00	0.09	0.13	1.79	(1.92)	4.35	(2.70)	19.40
NPO	1.46	0.00	0.08	0.13	1.73	(1.54)	3.32	(2.30)	13.16
OFLX	1.57	(0.09)	(0.01)	0.07	1.66	(1.80)	3.46	(2.69)	11.00
LXFR	1.94	0.37	0.18	0.55	1.62	(2.55)	3.67	(2.96)	16.99
HURC	1.88	0.41	0.20	0.72	1.44	(2.28)	4.37	(3.00)	18.87
IEX	1.10	0.05	0.07	0.17	0.87	(1.41)	2.38	(1.74)	9.79
WTS	1.04	(0.01)	0.04	0.12	1.08	(1.19)	2.07	(1.66)	8.63
DCI	0.77	0.01	(0.01)	0.14	0.70	(0.92)	1.89	(1.27)	4.00
GRC	1.32	(0.08)	0.02	0.08	1.54	(1.44)	2.38	(2.42)	11.59
EPAC	1.19	0.09	0.11	0.18	1.12	(1.35)	2.84	(1.91)	12.71

Enovis Corp Corporate Management

Michael Macek	VP Relations	Profile
Angela Lalor	Director	Profile
John Kleckner	Principal Officer	Profile
Bradley Tandy	Senior Vice President General Counsel, Corporate Secretary	Profile
Liam Kelly	Independent Director	Profile

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