Danaher Correlations

DHR Stock

EUR 6.79 0.10 1.45%

The current 90-days correlation between Danaher and TERADATA is 0.36 (i.e., Weak diversification). The correlation of Danaher 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.

Danaher Correlation With Market

Good diversification

The correlation between Danaher and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Danaher and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Danaher could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Danaher when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Danaher - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Danaher to buy it.

Moving together with Danaher Stock

0.63	NESM	Nestlé SA	Pair Corr
0.65	KHNZ	Kraft Heinz	Pair Corr
0.73	GRM	General Mills	Pair Corr
0.74	GRM	General Mills	Pair Corr

Moving against Danaher Stock

0.7	5EE	MEBUKI FINANCIAL	Pair Corr
0.64	KEL	Kellogg Company	Pair Corr
0.64	4FK	Fukuoka Financial	Pair Corr

Related Correlations Analysis

	3T4	2NY2	PL0	D6H	NEB	ISW	8DA1	MLT
3T4		0.0	0.54	0.62	-0.32	0.48	-0.57	0.32	3T4
2NY2	0.0		0.0	0.0	0.0	0.0	0.0	0.0	2NY2
PL0	0.54	0.0		0.45	-0.48	0.48	-0.7	0.3	PL0
D6H	0.62	0.0	0.45		-0.2	0.74	-0.46	0.04	D6H
NEB	-0.32	0.0	-0.48	-0.2		-0.35	0.51	-0.16	NEB
ISW	0.48	0.0	0.48	0.74	-0.35		-0.46	0.15	ISW
8DA1	-0.57	0.0	-0.7	-0.46	0.51	-0.46		-0.44	8DA1
MLT	0.32	0.0	0.3	0.04	-0.16	0.15	-0.44		MLT
	3T4	2NY2	PL0	D6H	NEB	ISW	8DA1	MLT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

ISW	+ 0.74	D6H
D6H	+ 0.62	3T4
PL0	+ 0.54	3T4
8DA1	+ 0.51	NEB
ISW	+ 0.48	3T4
ISW	+ 0.48	PL0

High negative correlations

8DA1	- 0.7	PL0
8DA1	- 0.57	3T4
NEB	- 0.48	PL0
8DA1	- 0.46	ISW
8DA1	- 0.46	D6H
MLT	- 0.44	8DA1

Risk-Adjusted Indicators

There is a big difference between Danaher Stock performing well and Danaher 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 Danaher'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
3T4	0.82	0.16	0.06	(0.41)	1.21	(1.20)	1.95	(1.43)	8.39
2NY2	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PL0	2.17	0.92	0.51	(0.59)	1.03	(2.98)	3.90	(2.50)	30.14
D6H	1.62	0.12	0.06	0.41	1.82	(1.91)	3.85	(3.05)	15.35
NEB	3.58	(0.07)	0.00	(0.03)	0.00	0.00	7.10	(8.18)	26.33
ISW	1.45	0.13	0.04	(0.15)	2.01	(1.97)	3.77	(3.03)	13.42
8DA1	1.72	(0.01)	0.00	0.05	0.00	0.00	3.48	(3.33)	10.09
MLT	1.54	0.04	0.01	(0.12)	2.01	(1.58)	2.87	(3.34)	14.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in Danaher without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Portfolio Suggestion Now

Portfolio Suggestion

Get suggestions outside of your existing asset allocation including your own model portfolios

All Next

Launch Module

Danaher Corporate Management

Elected by the shareholders, the Danaher's board of directors comprises two types of representatives: Danaher inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Danaher. The board's role is to monitor Danaher's management team and ensure that shareholders' interests are well served. Danaher's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Danaher's outside directors are responsible for providing unbiased perspectives on the board's policies.

Ellen Schum	Ex Specialty	Profile
Marty Schoch	VP Chain	Profile
Michael Adasczik	VP Officer	Profile
Jordan Greenberg	Ex Solutions	Profile
Tessie Gallagher	VP Sales	Profile
Bruce Wacha	CFO Fin	Profile
Kenneth Keller	CEO Pres	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC