BVS vs OFIX: Correlation
How closely do Bioventus Inc. (BVS) and Orthofix Medical Inc. (OFIX) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BVS and OFIX?
Over the past 3 years, BVS and OFIX moved with a correlation of 0.45, which is moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 1125.3 %².
Among the 11 assets we track against BVS, OFIX ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BVS ahead by 119.2 points (+84.1% versus -35.1%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BVS vs OFIX: side by side
| BVS (Bioventus Inc.) | OFIX (Orthofix Medical Inc.) | |
|---|---|---|
| 1-year return | +84.1% | -35.1% |
| 5-year return | -6.2% | -76.9% |
| Volatility (ann.) | 52.7% | 47.8% |
| Beta vs S&P 500 | 0.89 | 1.15 |
| Max drawdown (3Y) | -55.2% | -58.1% |
| Market cap | $0.9B | $0.4B |
| P/E (trailing) | 17.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BVS | OFIX |
|---|---|---|
| 2022 | -82.0% | -34.0% |
| 2023 | +101.9% | -34.3% |
| 2024 | +99.2% | +29.5% |
| 2025 | -29.1% | -13.2% |
| 2026 | +85.3% | -36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BVS and OFIX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BVS and OFIX?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.52 over the last year and 0.26 over 5 years.
Is OFIX a good diversifier for BVS?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: BVS correlations · OFIX correlations
