Hologic Correlations

HOLX Stock

USD 61.98 0.16 0.26%

The current 90-days correlation between Hologic and ICU Medical is -0.01 (i.e., 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Hologic Correlation With Market

Average diversification

The correlation between Hologic and DJI is 0.19 (i.e., Average 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.

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

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

Moving together with Hologic Stock

0.76	OM	Outset Medical	Pair Corr
0.83	VREX	Varex Imaging Corp	Pair Corr
0.69	VVOS	Vivos Therapeutics Earnings Call This Week	Pair Corr
0.72	EKSO	Ekso Bionics Holdings	Pair Corr
0.81	ELAB	Elevai Labs, Common Upward Rally	Pair Corr
0.9	EMBC	Embecta Corp	Pair Corr
0.75	ENOV	Enovis Corp	Pair Corr
0.76	ENSG	Ensign Group	Pair Corr
0.85	WORX	Scworx Corp	Pair Corr
0.75	FIGS	Figs Inc	Pair Corr
0.68	FLGT	Fulgent Genetics	Pair Corr
0.82	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.76	XAIR	Beyond Air	Pair Corr
0.87	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr

Moving against Hologic Stock

0.8	FEMY	Femasys	Pair Corr
0.76	DOCS	Doximity	Pair Corr
0.6	CI	Cigna Corp	Pair Corr
0.59	LH	Laboratory	Pair Corr
0.55	EDAP	EDAP TMS SA	Pair Corr
0.44	GH	Guardant Health	Pair Corr
0.4	MD	Mednax Inc	Pair Corr
0.38	EHAB	Enhabit	Pair Corr
0.81	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.81	DGX	Quest Diagnostics	Pair Corr
0.77	ABT	Abbott Laboratories	Pair Corr
0.72	AGL	agilon health	Pair Corr
0.68	CHE	Chemed Corp	Pair Corr
0.65	BAX	Baxter International	Pair Corr
0.63	CAH	Cardinal Health	Pair Corr
0.6	BSX	Boston Scientific Corp	Pair Corr
0.6	COR	Cencora	Pair Corr
0.55	ALC	Alcon AG	Pair Corr

Related Correlations Analysis

	HAE	ICUI	NVST	COO	WST	TFX	ALC	RMD	BDX	MMSI
HAE		0.29	-0.24	0.37	0.62	0.5	-0.75	0.17	-0.05	-0.51	HAE
ICUI	0.29		0.72	0.72	0.6	0.86	-0.25	0.68	0.53	0.42	ICUI
NVST	-0.24	0.72		0.62	0.15	0.56	0.29	0.66	0.38	0.74	NVST
COO	0.37	0.72	0.62		0.68	0.69	-0.04	0.77	0.42	0.42	COO
WST	0.62	0.6	0.15	0.68		0.69	-0.51	0.51	0.48	-0.01	WST
TFX	0.5	0.86	0.56	0.69	0.69		-0.48	0.57	0.37	0.16	TFX
ALC	-0.75	-0.25	0.29	-0.04	-0.51	-0.48		0.14	0.2	0.58	ALC
RMD	0.17	0.68	0.66	0.77	0.51	0.57	0.14		0.61	0.53	RMD
BDX	-0.05	0.53	0.38	0.42	0.48	0.37	0.2	0.61		0.4	BDX
MMSI	-0.51	0.42	0.74	0.42	-0.01	0.16	0.58	0.53	0.4		MMSI
	HAE	ICUI	NVST	COO	WST	TFX	ALC	RMD	BDX	MMSI

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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
RMD	+ 0.77	COO
MMSI	+ 0.74	NVST
NVST	+ 0.72	ICUI
COO	+ 0.72	ICUI
TFX	+ 0.69	COO

High negative correlations

ALC	- 0.75	HAE
ALC	- 0.51	WST
MMSI	- 0.51	HAE
ALC	- 0.48	TFX
ALC	- 0.25	ICUI
NVST	- 0.24	HAE

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HAE	1.83	(0.30)	0.00	(0.70)	0.00	0.00	3.37	(4.20)	15.77
ICUI	1.74	(0.01)	0.00	(0.10)	0.00	0.00	3.44	(3.61)	12.19
NVST	1.97	(0.08)	0.00	(0.14)	0.00	0.00	3.37	(4.20)	10.92
COO	1.38	(0.26)	0.00	(0.47)	0.00	0.00	2.11	(2.58)	9.15
WST	2.03	(0.36)	0.00	1.49	0.00	0.00	4.21	(2.83)	42.43
TFX	1.53	(0.35)	0.00	(0.80)	0.00	0.00	2.59	(3.15)	24.93
ALC	1.12	0.13	0.11	0.08	1.30	(1.19)	2.41	(2.22)	8.26
RMD	1.39	(0.07)	0.00	(0.21)	0.00	0.00	2.46	(3.30)	11.67
BDX	0.89	0.07	0.08	0.11	1.50	(0.94)	1.72	(1.60)	10.06
MMSI	1.27	0.07	0.00	(0.02)	0.00	0.00	2.91	(2.72)	7.42

Hologic Corporate Management

Mark Irving	VP Secretary	Profile
Paul Malenchini	Chief Officer	Profile
Peter Dunne	Senior Resources	Profile
Benjamin Cohn	Principal Chief Accounting Officer	Profile
Erik Anderson	Division Solutions	Profile
Kevin Thornal	Group Solutions	Profile

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