INGN vs OFIX: Correlation
How closely do Inogen, Inc (INGN) and Orthofix Medical Inc. (OFIX) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INGN and OFIX?
On 3 years of weekly data the INGN/OFIX correlation comes out at 0.43, moderate. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. The 5-year figure is 0.38, and annualized covariance runs at 1307.7 %².
Among the 13 assets we track against INGN, OFIX ranks #5 by 3-year correlation. Twelve-month performance is nearly a tie, at -30.5% for INGN and -35.1% for OFIX.
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.
INGN vs OFIX: side by side
| INGN (Inogen, Inc) | OFIX (Orthofix Medical Inc.) | |
|---|---|---|
| 1-year return | -30.5% | -35.1% |
| 5-year return | -90.7% | -76.9% |
| Volatility (ann.) | 64.0% | 47.8% |
| Beta vs S&P 500 | 1.24 | 1.15 |
| Max drawdown (3Y) | -57.6% | -58.1% |
| Market cap | $0.1B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INGN | OFIX |
|---|---|---|
| 2022 | -42.0% | -34.0% |
| 2023 | -72.1% | -34.3% |
| 2024 | +67.0% | +29.5% |
| 2025 | -26.7% | -13.2% |
| 2026 | -18.0% | -36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INGN and OFIX good diversifiers for each other?
Reasonably. At 0.43, INGN and OFIX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between INGN and OFIX?
As of 2026-08-27, the correlation of weekly returns between INGN and OFIX is 0.43 over 3 years, 0.33 over 1 year and 0.38 over 5 years.
Is OFIX a good diversifier for INGN?
Reasonably. At 0.43, INGN and OFIX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 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: INGN correlations · OFIX correlations
