Bruker Correlations

BRKR Stock

USD 46.94 0.97 2.11%

The current 90-days correlation between Bruker and Glaukos Corp is 0.21 (i.e., Modest diversification). The correlation of Bruker 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.

Bruker Correlation With Market

Significant diversification

The correlation between Bruker and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bruker 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 Bruker. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

To learn how to invest in Bruker Stock, please use our How to Invest in Bruker guide.

Moving together with Bruker Stock

0.68	A	Agilent Technologies	Pair Corr
0.93	ME	23Andme Holding	Pair Corr
0.81	VANI	Vivani Medical Earnings Call This Week	Pair Corr
0.73	DNLI	Denali Therapeutics	Pair Corr
0.8	VCEL	Vericel Corp Ord	Pair Corr
0.82	VCYT	Veracyte	Pair Corr
0.77	VERA	Vera Therapeutics	Pair Corr
0.61	DRTS	Alpha Tau Medical	Pair Corr
0.64	SABSW	SAB Biotherapeutics	Pair Corr
0.78	VINC	Vincerx Pharma	Pair Corr
0.73	VKTX	Viking Therapeutics	Pair Corr
0.66	VRAX	Virax Biolabs Group	Pair Corr
0.79	VRDN	Viridian Therapeutics	Pair Corr
0.83	VRPX	Virpax Pharmaceuticals	Pair Corr
0.85	VTRS	Viatris	Pair Corr
0.82	VTYX	Ventyx Biosciences	Pair Corr

Moving against Bruker Stock

0.8	VALN	Valneva SE ADR Earnings Call Today	Pair Corr
0.78	DVAX	Dynavax Technologies	Pair Corr
0.53	VIGL	Vigil Neuroscience	Pair Corr
0.51	DMAC	DiaMedica Therapeutics	Pair Corr
0.43	EQ	Equillium	Pair Corr
0.8	VRNA	Verona Pharma PLC Buyout Trend	Pair Corr
0.72	VRTX	Vertex Pharmaceuticals	Pair Corr
0.72	EDSA	Edesa Biotech	Pair Corr
0.5	VTVT	vTv Therapeutics Trending	Pair Corr
0.46	VSTM	Verastem	Pair Corr
0.43	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.35	SRZNW	Surrozen Warrant	Pair Corr
0.34	VNDA	Vanda Pharmaceuticals	Pair Corr

Related Correlations Analysis

	OFIX	NUVA	GKOS	HSKA	ITGR	CNMD	LIVN	IRTC	ZBH	BIO
OFIX		0.0	0.65	0.0	0.86	0.55	0.77	0.33	0.14	0.58	OFIX
NUVA	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NUVA
GKOS	0.65	0.0		0.0	0.9	0.71	0.84	-0.02	0.02	0.86	GKOS
HSKA	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	HSKA
ITGR	0.86	0.0	0.9	0.0		0.75	0.89	0.07	0.14	0.84	ITGR
CNMD	0.55	0.0	0.71	0.0	0.75		0.79	-0.45	0.38	0.9	CNMD
LIVN	0.77	0.0	0.84	0.0	0.89	0.79		-0.11	0.09	0.84	LIVN
IRTC	0.33	0.0	-0.02	0.0	0.07	-0.45	-0.11		-0.05	-0.22	IRTC
ZBH	0.14	0.0	0.02	0.0	0.14	0.38	0.09	-0.05		0.29	ZBH
BIO	0.58	0.0	0.86	0.0	0.84	0.9	0.84	-0.22	0.29		BIO
	OFIX	NUVA	GKOS	HSKA	ITGR	CNMD	LIVN	IRTC	ZBH	BIO

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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

ITGR	+ 0.9	GKOS
BIO	+ 0.9	CNMD
LIVN	+ 0.89	ITGR
ITGR	+ 0.86	OFIX
BIO	+ 0.86	GKOS
LIVN	+ 0.84	GKOS

High negative correlations

IRTC	- 0.45	CNMD
BIO	- 0.22	IRTC
IRTC	- 0.11	LIVN
ZBH	- 0.05	IRTC
IRTC	- 0.02	GKOS
BIO	- 0.0	HSKA

Risk-Adjusted Indicators

There is a big difference between Bruker Stock performing well and Bruker 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 Bruker'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
OFIX	1.23	(0.09)	0.00	(0.22)	0.00	0.00	2.18	(2.74)	6.60
NUVA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GKOS	2.37	(0.23)	0.00	(0.25)	0.00	0.00	4.97	(7.22)	24.99
HSKA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ITGR	1.09	(0.15)	0.00	(0.28)	0.00	0.00	1.68	(2.80)	8.30
CNMD	1.62	(0.20)	0.00	(0.39)	0.00	0.00	3.38	(3.53)	13.79
LIVN	1.59	(0.28)	0.00	(0.65)	0.00	0.00	2.87	(3.78)	20.10
IRTC	2.18	0.32	0.14	0.83	2.48	(2.22)	4.96	(3.94)	11.85
ZBH	1.12	0.04	0.09	0.28	1.48	(1.16)	2.46	(2.26)	8.09
BIO	1.76	(0.25)	0.00	(0.36)	0.00	0.00	3.85	(4.12)	15.71

Bruker Corporate Management

Collin DSilva	Pres Division	Profile
Urban Faeh	Pres GmbH	Profile
Justin Ward	Senior Development	Profile
Stacey Desrochers	Treasurer Relations	Profile

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