Hologic Correlations

HOLX Stock

USD 65.23 0.22 0.34%

The current 90-days correlation between Hologic and ICU Medical is 0.25 (i.e., Modest 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 0.16 (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

0.79	COO	Cooper Companies, Earnings Call Today	Pair Corr
0.69	DHR	Danaher	Pair Corr
0.89	TFX	Teleflex Incorporated	Pair Corr
0.68	UNH	UnitedHealth Group	Pair Corr
0.65	EXAS	EXACT Sciences	Pair Corr
0.79	ILMN	Illumina	Pair Corr
0.71	INZY	Inozyme Pharma	Pair Corr
0.65	KURA	Kura Oncology	Pair Corr
0.91	ABOS	Acumen Pharmaceuticals	Pair Corr

Moving against Hologic Stock

0.64	ANGO	AngioDynamics	Pair Corr
0.55	IDXX	IDEXX Laboratories	Pair Corr
0.83	PHGE	Biomx Inc	Pair Corr
0.73	OPT	Opthea	Pair Corr
0.7	GANX	Gain Therapeutics	Pair Corr
0.64	LTRN	Lantern Pharma	Pair Corr
0.6	FENC	Fennec Pharmaceuticals	Pair Corr
0.47	CUE	Cue Biopharma	Pair Corr
0.4	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.33	TMO	Thermo Fisher Scientific	Pair Corr

Related Correlations Analysis

	HAE	ICUI	NVST	COO	WST	TFX	ALC	RMD	BDX	MMSI
HAE		0.1	-0.19	0.6	0.43	0.82	-0.6	0.22	-0.45	-0.43	HAE
ICUI	0.1		0.43	0.3	0.12	0.41	0.17	0.54	0.38	0.39	ICUI
NVST	-0.19	0.43		0.43	-0.34	0.25	0.7	0.59	0.02	0.77	NVST
COO	0.6	0.3	0.43		0.41	0.8	0.15	0.76	-0.16	0.32	COO
WST	0.43	0.12	-0.34	0.41		0.32	-0.3	0.31	0.3	-0.23	WST
TFX	0.82	0.41	0.25	0.8	0.32		-0.19	0.53	-0.26	-0.03	TFX
ALC	-0.6	0.17	0.7	0.15	-0.3	-0.19		0.43	0.41	0.8	ALC
RMD	0.22	0.54	0.59	0.76	0.31	0.53	0.43		0.25	0.52	RMD
BDX	-0.45	0.38	0.02	-0.16	0.3	-0.26	0.41	0.25		0.23	BDX
MMSI	-0.43	0.39	0.77	0.32	-0.23	-0.03	0.8	0.52	0.23		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	+ 0.82	HAE
TFX	+ 0.8	COO
MMSI	+ 0.8	ALC
MMSI	+ 0.77	NVST
RMD	+ 0.76	COO
ALC	+ 0.7	NVST

High negative correlations

ALC	- 0.6	HAE
BDX	- 0.45	HAE
MMSI	- 0.43	HAE
WST	- 0.34	NVST
ALC	- 0.3	WST
BDX	- 0.26	TFX

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	1.88	(0.43)	0.00	(0.69)	0.00	0.00	3.40	(4.20)	15.77
ICUI	1.50	(0.15)	0.00	(0.19)	0.00	0.00	3.10	(3.61)	7.92
NVST	1.79	0.01	0.01	0.02	2.35	(1.82)	3.63	(4.09)	11.51
COO	1.17	(0.15)	0.00	(0.23)	0.00	0.00	1.83	(2.38)	8.19
WST	1.90	(0.34)	0.00	0.49	0.00	0.00	3.56	(2.68)	42.43
TFX	1.05	(0.14)	0.00	(0.41)	0.00	0.00	1.93	(2.85)	5.63
ALC	0.88	0.09	0.08	0.19	0.91	(0.95)	2.11	(1.83)	7.22
RMD	1.25	(0.01)	0.00	(0.02)	0.00	0.00	2.37	(2.62)	11.67
BDX	0.83	0.04	0.03	0.22	1.45	(0.88)	1.72	(1.36)	10.06
MMSI	1.03	(0.03)	0.00	(0.04)	0.00	0.00	2.03	(2.21)	7.16

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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