GE HealthCare Correlations

GEHC Stock

87.35 2.05 2.29%

The current 90-days correlation between GE HealthCare Techno and Veeva Systems Class is 0.2 (i.e., Modest diversification). The correlation of GE HealthCare 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.

GE HealthCare Correlation With Market

Weak diversification

The correlation between GE HealthCare Technologies and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GE HealthCare Technologies and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GE HealthCare Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with GEHC Stock

0.67	IDXX	IDEXX Laboratories	Pair Corr
0.61	MMSI	Merit Medical Systems	Pair Corr
0.66	CUE	Cue Biopharma	Pair Corr
0.79	OPT	Opthea	Pair Corr
0.64	GANX	Gain Therapeutics	Pair Corr
0.75	LTRN	Lantern Pharma	Pair Corr
0.72	PHGE	Biomx Inc	Pair Corr

Moving against GEHC Stock

0.68	EXAS	EXACT Sciences	Pair Corr
0.66	EMBC	Embecta Corp	Pair Corr
0.6	WST	West Pharmaceutical	Pair Corr
0.52	DHR	Danaher	Pair Corr
0.51	ADUS	Addus HomeCare	Pair Corr
0.34	TFX	Teleflex Incorporated	Pair Corr
0.87	INZY	Inozyme Pharma	Pair Corr
0.68	ILMN	Illumina Sell-off Trend	Pair Corr
0.67	ABOS	Acumen Pharmaceuticals	Pair Corr
0.66	ADTX	Aditxt Inc	Pair Corr
0.54	NAMSW	NewAmsterdam Pharma Trending	Pair Corr
0.49	KURA	Kura Oncology	Pair Corr
0.37	XFOR	X4 Pharmaceuticals	Pair Corr
0.32	HLVX	Hillevax	Pair Corr

Related Correlations Analysis

	TDOC	VEEV	TXG	PGNY	SDGR	DOCS	AMWL	GDRX
TDOC		0.57	-0.42	0.33	0.66	0.69	0.7	0.65	TDOC
VEEV	0.57		-0.03	0.17	0.67	0.33	0.65	0.7	VEEV
TXG	-0.42	-0.03		-0.49	-0.24	-0.8	-0.45	-0.27	TXG
PGNY	0.33	0.17	-0.49		0.63	0.62	0.74	0.33	PGNY
SDGR	0.66	0.67	-0.24	0.63		0.54	0.84	0.71	SDGR
DOCS	0.69	0.33	-0.8	0.62	0.54		0.68	0.49	DOCS
AMWL	0.7	0.65	-0.45	0.74	0.84	0.68		0.72	AMWL
GDRX	0.65	0.7	-0.27	0.33	0.71	0.49	0.72		GDRX
	TDOC	VEEV	TXG	PGNY	SDGR	DOCS	AMWL	GDRX

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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

AMWL	+ 0.84	SDGR
AMWL	+ 0.74	PGNY
GDRX	+ 0.72	AMWL
GDRX	+ 0.71	SDGR
AMWL	+ 0.7	TDOC
GDRX	+ 0.7	VEEV

High negative correlations

DOCS	- 0.8	TXG
PGNY	- 0.49	TXG
AMWL	- 0.45	TXG
TXG	- 0.42	TDOC
GDRX	- 0.27	TXG
SDGR	- 0.24	TXG

Risk-Adjusted Indicators

There is a big difference between GEHC Stock performing well and GE HealthCare 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 GE HealthCare'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
TDOC	3.54	0.00	0.00	(0.02)	0.00	0.00	7.65	(7.84)	26.74
VEEV	1.40	0.08	0.06	0.24	1.56	(1.52)	2.98	(2.66)	13.12
TXG	2.88	(0.23)	0.00	(0.24)	0.00	0.00	6.92	(7.47)	25.30
PGNY	2.07	0.66	0.32	1.89	1.55	(2.36)	4.41	(3.11)	18.81
SDGR	2.95	0.25	0.06	0.11	3.45	(3.17)	6.02	(5.67)	21.84
DOCS	2.47	0.70	0.21	1.97	2.43	(2.71)	4.93	(4.73)	45.86
AMWL	3.92	0.50	0.12	0.25	3.68	(4.48)	13.88	(6.98)	26.15
GDRX	2.25	0.29	0.11	0.24	2.38	(2.52)	4.82	(3.64)	21.47

GE HealthCare Corporate Executives

Elected by the shareholders, the GE HealthCare's board of directors comprises two types of representatives: GE HealthCare inside directors who are chosen from within the company, and outside directors, selected externally and held independent of GEHC. The board's role is to monitor GE HealthCare's management team and ensure that shareholders' interests are well served. GE HealthCare'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, GE HealthCare's outside directors are responsible for providing unbiased perspectives on the board's policies.

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