Hologic Correlations

Stocks . Germany . 
Stock . Hologic
HO1 Stock  EUR 55.50  0.50  0.91%   
The current 90-days correlation between Hologic and Tencent Music Entertainment is -0.28 (i.e., Very good diversification). The correlation of Hologic 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.

Hologic Correlation With Market

Significant diversification

The correlation between Hologic and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hologic and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Hologic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hologic 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 Hologic - 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 Hologic to buy it.

Moving together with Hologic Stock

  0.78HYB HOYAPairCorr
  0.65RMEA Resmed Inc DRCPairCorr
  0.68RME ResMed IncPairCorr
  0.7MIZ MizunoPairCorr

Moving against Hologic Stock

  0.9TM2 Sydbank A/SPairCorr
  0.82HCMA HITACHI CONSTRMACHADR/2PairCorr
  0.8ESLC ESSILORLUXOTTICA 12ONPairCorr
  0.8893 MITSUBISHI KAKOKIPairCorr
  0.78ESL EssilorLuxottica SocitPairCorr
  0.7792I ROMERIKE SPAREBANKPairCorr
  0.71YHA YamahaPairCorr
  0.67SON1 Sony Group CorpPairCorr
  0.495F3 JINS HOLDINGS INCPairCorr
  0.9ALVE ALLIANZ SE UNSPADRPairCorr
  0.89NOA3 NokiaPairCorr
  0.8907M China Modern DairyPairCorr
  0.857AA APERAM REGPairCorr
  0.82DTEA Deutsche TelekomPairCorr
  0.73MARA MARUBENI CORPPairCorr
  0.72AF4 Hanover InsurancePairCorr
  0.7KGHA KGHM Polska Miedz Earnings Call This WeekPairCorr
  0.65QB3 QuebecorPairCorr
  0.64IDI InterDigitalPairCorr
  0.62KN7 Eskay Mining CorpPairCorr
  0.59IBE1 Iberdrola SAPairCorr
  0.58DLN DE LONGHIPairCorr
  0.58A0T American Tower CorpPairCorr
  0.55NST STEULER FLIESENGRUPPEPairCorr
  0.52HFF HARTFORD FIN SERVPairCorr
  0.4KPN Koninklijke KPN NVPairCorr
  0.95KONN Komercn banka asPairCorr
  0.92DEZ Deutz AG Earnings Call TomorrowPairCorr

Related Correlations Analysis

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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   
6MM
+ 0.77
07M
63TA
+ 0.77
AZU
AZU
+ 0.75
07M
6MM
+ 0.75
AZU
63TA
+ 0.65
07M
MWJ
+ 0.64
07M
  
High negative correlations   
63TA
- 0.59
GIFN
GIFN
- 0.42
MWJ
GIFN
- 0.33
07M
GIFN
- 0.28
AZU
GIFN
- 0.1
6MM

Risk-Adjusted Indicators

There is a big difference between Hologic Stock performing well and Hologic 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 Hologic'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hologic 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.

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Hologic Corporate Management

Elected by the shareholders, the Hologic's board of directors comprises two types of representatives: Hologic inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hologic. The board's role is to monitor Hologic's management team and ensure that shareholders' interests are well served. Hologic'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, Hologic's outside directors are responsible for providing unbiased perspectives on the board's policies.
Paul MalenchiniChief OfficerProfile
Mike KellyChief AffairsProfile
Stephen MacMillanCEO ChairmanProfile
Jan VerstrekenGroup InternationalProfile
Kevin ThornalGroup SolutionsProfile
Ryan SimonVP RelationsProfile
Karleen ObertonChief OfficerProfile
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