Which stocks are most correlated with OFIX?

Based on one year of daily returns, the stocks most correlated with Orthofix Medical Inc. Common Stock (DE) (OFIX) are XHE (0.56), IHI (0.55) and ENOV (0.51). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with OFIX?

Over the past year, the stocks most inversely correlated with Orthofix Medical Inc. Common Stock (DE) (OFIX) are DWSH (-0.42), HDGE (-0.38) and RXD (-0.32). A negative correlation means the two stocks have tended to move in opposite directions.

Orthofix Medical Inc. Common Stock (DE) (OFIX) — Stock Correlations & Overview

Over the past year, OFIX has moved most closely with XHE, IHI, ENOV. Explore the stocks most correlated and inversely correlated with OFIX below, along with its price, financials, and company profile.

Stocks correlated with OFIX

Correlation of daily returns. Higher positive values move with OFIX; negative values move opposite it. Informational only, not investment advice.

Most correlated with OFIX

Symbol	Company	Correlation
XHE	State Street SPDR S&P Health Care Equipment ETF	0.56
IHI	iShares U.S. Medical Devices ETF	0.55
ENOV	Enovis CorporationORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES	0.51
MDEV	First Trust Indxx Medical Devices ETF	0.47
SYK	Stryker CorporationSURGICAL & MEDICAL INSTRUMENTS & APPARATUS	0.46

Most inversely correlated with OFIX

Symbol	Company	Correlation
DWSH	AdvisorShares Dorsey Wright Short ETF	-0.42
HDGE	AdvisorShares Ranger Equity Bear ETF	-0.38
RXD	ProShares UltraShort Health Care	-0.32
SKF	ProShares UltraShort Financials	-0.31
FAZ	Direxion Daily Financial Bear 3x ETF	-0.31

Frequently asked questions about OFIX correlations

Which stocks are most correlated with OFIX?: Based on one year of daily returns, the stocks most correlated with Orthofix Medical Inc. Common Stock (DE) (OFIX) are XHE (0.56), IHI (0.55) and ENOV (0.51). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with OFIX?: Over the past year, the stocks most inversely correlated with Orthofix Medical Inc. Common Stock (DE) (OFIX) are DWSH (-0.42), HDGE (-0.38) and RXD (-0.32). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these OFIX correlations calculated?: We compute the correlation of daily returns between OFIX and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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