Henry Schein Correlations

HSIC Stock

USD 70.45 0.39 0.55%

The current 90-days correlation between Henry Schein and Owens Minor is 0.1 (i.e., Average diversification). The correlation of Henry Schein 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.

Henry Schein Correlation With Market

Weak diversification

The correlation between Henry Schein and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Henry Schein 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 Henry Schein. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

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

Moving together with Henry Stock

0.61	DXCM	DexCom Inc	Pair Corr
0.64	BSX	Boston Scientific Corp	Pair Corr
0.69	EHC	Encompass Health Corp	Pair Corr
0.71	SYK	Stryker	Pair Corr
0.61	UHS	Universal Health Services	Pair Corr
0.62	GDRX	Goodrx Holdings	Pair Corr
0.74	IART	Integra LifeSciences	Pair Corr
0.67	INGN	Inogen Inc	Pair Corr
0.61	IRTC	iRhythm Technologies	Pair Corr
0.66	NPCE	Neuropace	Pair Corr
0.78	OFIX	Orthofix Medical	Pair Corr

Moving against Henry Stock

0.34

SGHT

Sight Sciences

Pair Corr

Related Correlations Analysis

	OMI	ABC	CAH	ZYXI	PDCO	EDAP	MCK
OMI		0.0	-0.41	0.35	-0.56	-0.78	-0.52	OMI
ABC	0.0		0.0	0.0	0.0	0.0	0.0	ABC
CAH	-0.41	0.0		-0.44	0.46	0.39	0.69	CAH
ZYXI	0.35	0.0	-0.44		-0.55	-0.06	-0.72	ZYXI
PDCO	-0.56	0.0	0.46	-0.55		0.41	0.73	PDCO
EDAP	-0.78	0.0	0.39	-0.06	0.41		0.32	EDAP
MCK	-0.52	0.0	0.69	-0.72	0.73	0.32		MCK
	OMI	ABC	CAH	ZYXI	PDCO	EDAP	MCK

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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

MCK	+ 0.73	PDCO
MCK	+ 0.69	CAH
PDCO	+ 0.46	CAH
EDAP	+ 0.41	PDCO
EDAP	+ 0.39	CAH
ZYXI	+ 0.35	OMI

High negative correlations

EDAP	- 0.78	OMI
MCK	- 0.72	ZYXI
PDCO	- 0.56	OMI
PDCO	- 0.55	ZYXI
MCK	- 0.52	OMI
ZYXI	- 0.44	CAH

Risk-Adjusted Indicators

There is a big difference between Henry Stock performing well and Henry Schein 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 Henry Schein'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
OMI	3.30	(0.12)	0.00	(0.12)	0.00	0.00	4.90	(5.49)	42.44
ABC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CAH	0.77	0.22	0.21	0.31	0.99	(0.79)	1.82	(2.03)	6.21
ZYXI	2.82	(1.22)	0.00	(1.02)	0.00	0.00	3.59	(3.29)	57.28
PDCO	0.10	(0.02)	0.00	(0.40)	0.00	0.00	0.16	(0.19)	1.34
EDAP	2.69	0.16	0.06	(1.27)	3.80	(3.05)	6.80	(4.55)	24.04
MCK	0.96	0.24	0.27	0.50	0.89	(1.07)	2.19	(1.63)	5.44

Henry Schein Corporate Executives

Elected by the shareholders, the Henry Schein's board of directors comprises two types of representatives: Henry Schein inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Henry. The board's role is to monitor Henry Schein's management team and ensure that shareholders' interests are well served. Henry Schein'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, Henry Schein's outside directors are responsible for providing unbiased perspectives on the board's policies.

Ronald South

Senior CFO

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