Fulgent Genetics Correlations

FLGT Stock

USD 17.09 0.20 1.18%

The current 90-days correlation between Fulgent Genetics and Caredx Inc is 0.22 (i.e., Modest diversification). The correlation of Fulgent Genetics 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.

Fulgent Genetics Correlation With Market

Modest diversification

The correlation between Fulgent Genetics and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fulgent Genetics and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fulgent Genetics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

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

Moving together with Fulgent Stock

0.66

MODD

Modular Medical

Pair Corr

Moving against Fulgent Stock

0.83	BSX	Boston Scientific Corp	Pair Corr
0.82	IRTC	iRhythm Technologies	Pair Corr
0.77	FNA	Paragon 28	Pair Corr
0.77	MDT	Medtronic PLC	Pair Corr
0.72	ALC	Alcon AG	Pair Corr
0.7	SYK	Stryker	Pair Corr
0.69	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.63	EHC	Encompass Health Corp	Pair Corr
0.59	LUCD	Lucid Diagnostics	Pair Corr
0.57	GDRX	Goodrx Holdings	Pair Corr
0.52	MASI	Masimo	Pair Corr
0.47	DXCM	DexCom Inc	Pair Corr
0.47	LUNG	Pulmonx Corp	Pair Corr
0.46	INMD	InMode	Pair Corr
0.33	IART	Integra LifeSciences	Pair Corr
0.81	SIBN	Si Bone	Pair Corr
0.8	OPCH	Option Care Health	Pair Corr
0.76	NVRO	Nevro Corp	Pair Corr
0.73	TMCI	Treace Medical Concepts	Pair Corr
0.7	NYXH	Nyxoah	Pair Corr
0.67	SGRY	Surgery Partners	Pair Corr
0.67	CCLDO	CareCloud	Pair Corr
0.62	AMED	Amedisys	Pair Corr
0.58	AMWL	American Well Corp	Pair Corr

Related Correlations Analysis

	ILMN	TTOO	A	MTD	WAT	DHR	TMO	CRL	CDNA
ILMN		0.89	0.72	0.17	0.32	0.86	0.49	0.5	0.53	ILMN
TTOO	0.89		0.54	0.03	0.09	0.67	0.28	0.59	0.48	TTOO
A	0.72	0.54		0.76	0.79	0.55	0.88	-0.14	0.74	A
MTD	0.17	0.03	0.76		0.87	0.02	0.85	-0.54	0.53	MTD
WAT	0.32	0.09	0.79	0.87		0.27	0.92	-0.37	0.41	WAT
DHR	0.86	0.67	0.55	0.02	0.27		0.38	0.54	0.26	DHR
TMO	0.49	0.28	0.88	0.85	0.92	0.38		-0.3	0.55	TMO
CRL	0.5	0.59	-0.14	-0.54	-0.37	0.54	-0.3		-0.16	CRL
CDNA	0.53	0.48	0.74	0.53	0.41	0.26	0.55	-0.16		CDNA
	ILMN	TTOO	A	MTD	WAT	DHR	TMO	CRL	CDNA

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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

TMO	+ 0.92	WAT
TTOO	+ 0.89	ILMN
TMO	+ 0.88	A
WAT	+ 0.87	MTD
DHR	+ 0.86	ILMN
TMO	+ 0.85	MTD

High negative correlations

CRL	- 0.54	MTD
CRL	- 0.37	WAT
CRL	- 0.3	TMO
CDNA	- 0.16	CRL
CRL	- 0.14	A

Risk-Adjusted Indicators

There is a big difference between Fulgent Stock performing well and Fulgent Genetics 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 Fulgent Genetics' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ILMN	1.94	(0.66)	(0.84)	3.38	(5.47)	15.07
TTOO	8.95	(0.09)	(0.14)	17.14	(17.78)	130.00
A	1.15	(0.15)	(0.23)	2.92	(2.59)	9.03
MTD	1.23	(0.04)	(0.12)	2.34	(2.81)	8.60
WAT	1.37	0.00	(0.07)	2.95	(2.93)	10.90
DHR	1.11	(0.12)	(0.32)	2.19	(2.24)	12.14
TMO	1.09	0.01	(0.04)	2.40	(2.39)	10.04
CRL	1.68	(0.15)	(0.36)	3.86	(4.66)	11.78
CDNA	3.02	(0.04)	(0.09)	5.88	(7.44)	19.59

Fulgent Genetics Corporate Management

Doreen Ng	Vice Compliance	Profile
DABMG FACMG	Chief Director	Profile
Paul Kim	Chief Officer	Profile
Natalie Prescott	General Officer	Profile
Lawrence MD	Chief Officer	Profile

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