Guardant Health Correlations

GH Stock

USD 44.72 1.52 3.29%

The current 90-days correlation between Guardant Health and Twist Bioscience Corp is 0.58 (i.e., Very weak diversification). The correlation of Guardant Health 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.

Guardant Health Correlation With Market

Weak diversification

The correlation between Guardant Health and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guardant Health 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 Guardant Health. 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.

For more detail on how to invest in Guardant Stock please use our How to Invest in Guardant Health guide.

Moving together with Guardant Stock

0.72	ALC	Alcon AG	Pair Corr
0.89	BSX	Boston Scientific Corp	Pair Corr
0.69	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.62	EHC	Encompass Health Corp	Pair Corr
0.77	FNA	Paragon 28	Pair Corr
0.77	MDT	Medtronic PLC	Pair Corr
0.79	SYK	Stryker	Pair Corr
0.68	GDRX	Goodrx Holdings	Pair Corr
0.87	IRTC	iRhythm Technologies	Pair Corr
0.72	NPCE	Neuropace	Pair Corr
0.74	NVRO	Nevro Corp	Pair Corr
0.85	NYXH	Nyxoah	Pair Corr
0.78	OPCH	Option Care Health	Pair Corr

Moving against Guardant Stock

0.32	EW	Edwards Lifesciences Corp	Pair Corr
0.67	SGHT	Sight Sciences	Pair Corr
0.51	SRDX	SurModics	Pair Corr
0.42	MODD	Modular Medical	Pair Corr
0.41	MDAI	Spectral AI	Pair Corr
0.41	APYX	Apyx Medical	Pair Corr
0.4	RXST	Rxsight	Pair Corr

Related Correlations Analysis

	ILMN	TWST	NTRA	CDNA	MYGN	CSTL	PSNL	A	TMO
ILMN		0.71	0.65	0.52	0.68	0.76	0.52	0.7	0.43	ILMN
TWST	0.71		0.79	0.63	0.54	0.69	0.58	0.86	0.71	TWST
NTRA	0.65	0.79		0.89	0.76	0.87	0.56	0.82	0.64	NTRA
CDNA	0.52	0.63	0.89		0.77	0.79	0.5	0.72	0.5	CDNA
MYGN	0.68	0.54	0.76	0.77		0.86	0.57	0.53	0.17	MYGN
CSTL	0.76	0.69	0.87	0.79	0.86		0.59	0.68	0.4	CSTL
PSNL	0.52	0.58	0.56	0.5	0.57	0.59		0.53	0.36	PSNL
A	0.7	0.86	0.82	0.72	0.53	0.68	0.53		0.87	A
TMO	0.43	0.71	0.64	0.5	0.17	0.4	0.36	0.87		TMO
	ILMN	TWST	NTRA	CDNA	MYGN	CSTL	PSNL	A	TMO

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Risk-Adjusted Indicators

There is a big difference between Guardant Stock performing well and Guardant Health 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 Guardant Health'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
ILMN	1.90	(0.75)	0.00	(0.95)	0.00	0.00	2.87	(5.47)	15.07
TWST	3.10	(0.04)	0.00	(0.10)	0.00	0.00	6.39	(6.90)	18.27
NTRA	2.16	(0.03)	0.00	(0.10)	0.00	0.00	4.36	(5.71)	13.77
CDNA	3.06	(0.12)	0.00	(0.13)	0.00	0.00	5.88	(7.44)	19.59
MYGN	2.53	(0.47)	0.00	(0.76)	0.00	0.00	4.14	(5.34)	26.72
CSTL	2.47	(0.47)	0.00	(2.04)	0.00	0.00	4.51	(6.33)	23.81
PSNL	5.65	0.54	0.06	0.07	5.62	(6.94)	9.82	(7.64)	61.04
A	1.14	(0.14)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
TMO	1.12	0.00	0.00	(0.07)	0.00	0.00	2.40	(2.39)	10.04

Guardant Health Corporate Management

Jennifer Higgins	Senior Affairs	Profile
Stephen Murphy	Senior Marketing	Profile
John Saia	Chief Secretary	Profile
Christopher Freeman	Chief Officer	Profile
John JD	Chief Secretary	Profile
Zarak Khurshid	Vice Relations	Profile

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