Haemonetics Correlations

HAE Stock

USD 65.23 0.55 0.85%

The current 90-days correlation between Haemonetics and Merit Medical Systems is 0.13 (i.e., Average diversification). The correlation of Haemonetics 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.

Haemonetics Correlation With Market

Average diversification

The correlation between Haemonetics and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Haemonetics 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 Haemonetics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For information on how to trade Haemonetics Stock refer to our How to Trade Haemonetics Stock guide.

Moving together with Haemonetics Stock

0.71	OM	Outset Medical	Pair Corr
0.76	VREX	Varex Imaging Corp	Pair Corr
0.69	VVOS	Vivos Therapeutics Earnings Call This Week	Pair Corr
0.63	EKSO	Ekso Bionics Holdings	Pair Corr
0.67	ELAB	Elevai Labs, Common Trending	Pair Corr
0.78	EMBC	Embecta Corp	Pair Corr
0.63	ESTA	Establishment Labs	Pair Corr
0.62	EUDA	EUDA Health Holdings	Pair Corr
0.68	WORX	Scworx Corp	Pair Corr
0.66	FIGS	Figs Inc	Pair Corr
0.85	FLGT	Fulgent Genetics	Pair Corr
0.7	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.89	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr

Moving against Haemonetics Stock

0.85	DOCS	Doximity	Pair Corr
0.77	LH	Laboratory	Pair Corr
0.72	GH	Guardant Health	Pair Corr
0.67	EDAP	EDAP TMS SA	Pair Corr
0.66	FEMY	Femasys	Pair Corr
0.61	CI	Cigna Corp	Pair Corr
0.52	EHAB	Enhabit	Pair Corr
0.48	VEEV	Veeva Systems Class	Pair Corr
0.46	MD	Mednax Inc	Pair Corr
0.37	DXCM	DexCom Inc	Pair Corr
0.87	ABT	Abbott Laboratories	Pair Corr
0.85	BSX	Boston Scientific Corp	Pair Corr
0.81	AGL	agilon health	Pair Corr
0.81	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.81	DGX	Quest Diagnostics	Pair Corr
0.8	CAH	Cardinal Health	Pair Corr
0.75	ALC	Alcon AG Sell-off Trend	Pair Corr
0.73	CON	Concentra Group Holdings	Pair Corr
0.73	COR	Cencora	Pair Corr
0.59	CHE	Chemed Corp	Pair Corr

Related Correlations Analysis

	MMSI	ANGO	ATR	NVST	HOLX	ICUI	COO	TFX	WST	ALC
MMSI		0.48	-0.07	0.73	-0.12	0.43	0.42	0.17	0.0	0.57	MMSI
ANGO	0.48		0.0	0.5	0.14	0.62	0.37	0.4	0.36	0.05	ANGO
ATR	-0.07	0.0		0.05	0.85	0.44	0.59	0.55	0.66	-0.43	ATR
NVST	0.73	0.5	0.05		0.2	0.73	0.65	0.59	0.18	0.26	NVST
HOLX	-0.12	0.14	0.85	0.2		0.62	0.7	0.78	0.84	-0.56	HOLX
ICUI	0.43	0.62	0.44	0.73	0.62		0.72	0.86	0.61	-0.26	ICUI
COO	0.42	0.37	0.59	0.65	0.7	0.72		0.7	0.69	-0.05	COO
TFX	0.17	0.4	0.55	0.59	0.78	0.86	0.7		0.7	-0.49	TFX
WST	0.0	0.36	0.66	0.18	0.84	0.61	0.69	0.7		-0.52	WST
ALC	0.57	0.05	-0.43	0.26	-0.56	-0.26	-0.05	-0.49	-0.52		ALC
	MMSI	ANGO	ATR	NVST	HOLX	ICUI	COO	TFX	WST	ALC

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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

TFX	+ 0.86	ICUI
HOLX	+ 0.85	ATR
WST	+ 0.84	HOLX
TFX	+ 0.78	HOLX
NVST	+ 0.73	MMSI
ICUI	+ 0.73	NVST

High negative correlations

ALC	- 0.56	HOLX
ALC	- 0.52	WST
ALC	- 0.49	TFX
ALC	- 0.43	ATR
ALC	- 0.26	ICUI
HOLX	- 0.12	MMSI

Risk-Adjusted Indicators

There is a big difference between Haemonetics Stock performing well and Haemonetics 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 Haemonetics' 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
MMSI	1.25	0.04	0.00	(0.06)	0.00	0.00	2.91	(2.72)	7.42
ANGO	2.95	0.29	0.10	0.28	3.01	(3.70)	4.93	(4.95)	46.09
ATR	0.94	(0.15)	0.00	(0.29)	0.00	0.00	1.46	(1.87)	10.88
NVST	1.99	(0.09)	0.00	(0.16)	0.00	0.00	3.37	(4.20)	10.92
HOLX	1.14	(0.28)	0.00	(0.83)	0.00	0.00	1.83	(2.07)	12.53
ICUI	1.74	0.00	0.00	(0.10)	0.00	0.00	3.44	(3.61)	12.19
COO	1.38	(0.25)	0.00	(0.47)	0.00	0.00	2.11	(2.58)	9.15
TFX	1.54	(0.34)	0.00	(0.80)	0.00	0.00	2.59	(3.15)	24.93
WST	2.04	(0.33)	0.00	1.25	0.00	0.00	4.21	(2.83)	42.43
ALC	1.12	0.16	0.13	0.12	1.30	(1.19)	2.41	(2.22)	8.26

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