Baxter International Correlations

BAX Stock

USD 33.19 0.25 0.75%

The current 90-days correlation between Baxter International and West Pharmaceutical Services is 0.07 (i.e., Significant diversification). The correlation of Baxter International 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.

Baxter International Correlation With Market

Significant diversification

The correlation between Baxter International and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baxter International 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 Baxter International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with Baxter Stock

0.69	LUCD	Lucid Diagnostics	Pair Corr
0.72	OCX	OncoCyte Corp	Pair Corr
0.61	GOSS	Gossamer Bio	Pair Corr
0.63	NVCT	Nuvectis Pharma	Pair Corr

Moving against Baxter Stock

0.81	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.79	ELVN	Enliven Therapeutics	Pair Corr
0.78	SSKN	STRATA Skin Sciences Earnings Call Tomorrow	Pair Corr
0.72	CDIOW	Cardio Diagnostics	Pair Corr
0.7	INFU	InfuSystems Holdings	Pair Corr
0.7	GPCR	Structure Therapeutics	Pair Corr
0.69	HOLX	Hologic	Pair Corr
0.58	ELEV	Elevation Oncology	Pair Corr
0.41	OCEAW	Ocean Biomedical	Pair Corr
0.91	IMMX	Immix Biopharma	Pair Corr
0.86	ZURA	Zura Bio Limited	Pair Corr
0.85	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.81	PYXS	Pyxis Oncology	Pair Corr
0.78	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.76	PMVP	Pmv Pharmaceuticals	Pair Corr
0.75	IMRX	Immuneering Corp	Pair Corr
0.73	SCLX	Scilex Holding	Pair Corr
0.73	ATNF	180 Life Sciences	Pair Corr
0.52	AVTE	Aerovate Therapeutics	Pair Corr
0.45	INBX	Inhibrx Symbol Change	Pair Corr
0.44	ZVSA	ZyVersa Therapeutics	Pair Corr
0.44	PHIO	Phio Pharmaceuticals Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EMBC	WST	RMD	COO	TFX	BDX	HOLX	MMSI	ICUI	NVST
EMBC		0.91	0.45	0.65	0.81	0.3	0.92	-0.17	0.64	0.25	EMBC
WST	0.91		0.55	0.71	0.72	0.5	0.87	0.0	0.62	0.25	WST
RMD	0.45	0.55		0.8	0.61	0.65	0.56	0.51	0.68	0.73	RMD
COO	0.65	0.71	0.8		0.73	0.48	0.71	0.39	0.72	0.71	COO
TFX	0.81	0.72	0.61	0.73		0.41	0.8	0.15	0.86	0.63	TFX
BDX	0.3	0.5	0.65	0.48	0.41		0.45	0.44	0.59	0.36	BDX
HOLX	0.92	0.87	0.56	0.71	0.8	0.45		-0.15	0.62	0.28	HOLX
MMSI	-0.17	0.0	0.51	0.39	0.15	0.44	-0.15		0.41	0.69	MMSI
ICUI	0.64	0.62	0.68	0.72	0.86	0.59	0.62	0.41		0.73	ICUI
NVST	0.25	0.25	0.73	0.71	0.63	0.36	0.28	0.69	0.73		NVST
	EMBC	WST	RMD	COO	TFX	BDX	HOLX	MMSI	ICUI	NVST

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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

HOLX	+ 0.92	EMBC
WST	+ 0.91	EMBC
HOLX	+ 0.87	WST
ICUI	+ 0.86	TFX
TFX	+ 0.81	EMBC
COO	+ 0.8	RMD

High negative correlations

MMSI	- 0.17	EMBC
MMSI	- 0.15	HOLX
MMSI	- 0.0	WST

Risk-Adjusted Indicators

There is a big difference between Baxter Stock performing well and Baxter International 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 Baxter International'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
EMBC	2.26	(0.54)	0.00	(0.83)	0.00	0.00	3.17	(5.41)	15.15
WST	2.04	(0.41)	0.00	1.54	0.00	0.00	3.56	(2.83)	40.71
RMD	1.39	(0.07)	0.00	(0.20)	0.00	0.00	2.46	(3.30)	11.67
COO	1.35	(0.17)	0.00	(0.32)	0.00	0.00	2.11	(2.42)	9.15
TFX	1.51	(0.29)	0.00	(0.68)	0.00	0.00	2.59	(3.15)	24.93
BDX	0.87	0.06	0.07	0.12	1.50	(0.89)	1.72	(1.60)	9.44
HOLX	1.11	(0.24)	0.00	(0.76)	0.00	0.00	1.83	(2.07)	12.53
MMSI	1.22	0.05	0.00	(0.01)	0.00	0.00	2.91	(2.72)	7.42
ICUI	1.71	(0.05)	0.00	(0.12)	0.00	0.00	3.10	(3.61)	11.84
NVST	1.91	(0.12)	0.00	(0.15)	0.00	0.00	3.37	(4.20)	10.92

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