Illumina Correlations

ILMN Stock

USD 85.16 0.52 0.61%

The current 90-days correlation between Illumina and Waters is 0.33 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Illumina moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Illumina moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Illumina Correlation With Market

Weak diversification

The correlation between Illumina and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Illumina 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 Illumina. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

To learn how to invest in Illumina Stock, please use our How to Invest in Illumina guide.

Moving together with Illumina Stock

0.64	A	Agilent Technologies	Pair Corr
0.94	ME	23Andme Holding	Pair Corr
0.85	VANI	Vivani Medical Earnings Call This Week	Pair Corr
0.74	DNLI	Denali Therapeutics	Pair Corr
0.83	VCEL	Vericel Corp Ord	Pair Corr
0.82	VCYT	Veracyte	Pair Corr
0.82	VERA	Vera Therapeutics	Pair Corr
0.79	DRTS	Alpha Tau Medical	Pair Corr
0.63	CDIOW	Cardio Diagnostics	Pair Corr
0.69	SABSW	SAB Biotherapeutics	Pair Corr
0.77	VINC	Vincerx Pharma	Pair Corr
0.7	VKTX	Viking Therapeutics	Pair Corr
0.61	DYAI	Dyadic International Earnings Call This Week	Pair Corr
0.74	VRAX	Virax Biolabs Group	Pair Corr
0.86	VRDN	Viridian Therapeutics Downward Rally	Pair Corr
0.83	VRPX	Virpax Pharmaceuticals	Pair Corr
0.84	VTRS	Viatris	Pair Corr

Moving against Illumina Stock

0.88	VALN	Valneva SE ADR	Pair Corr
0.83	DVAX	Dynavax Technologies	Pair Corr
0.46	EQ	Equillium	Pair Corr
0.44	DMAC	DiaMedica Therapeutics	Pair Corr
0.43	DTIL	Precision BioSciences Earnings Call This Week	Pair Corr
0.41	VIGL	Vigil Neuroscience	Pair Corr
0.87	VRNA	Verona Pharma PLC	Pair Corr
0.86	VRTX	Vertex Pharmaceuticals	Pair Corr
0.74	EDSA	Edesa Biotech	Pair Corr
0.68	VTVT	vTv Therapeutics Trending	Pair Corr
0.56	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.54	KTTAW	Pasithea Therapeutics	Pair Corr
0.53	EDIT	Editas Medicine	Pair Corr
0.49	VSTM	Verastem	Pair Corr
0.44	VNDA	Vanda Pharmaceuticals	Pair Corr

Related Correlations Analysis

	TMO	DHR	WAT	IDXX	A	EXAS	NTRA	CDNA	TWST
TMO		0.4	0.92	0.27	0.84	0.44	0.67	0.53	0.74	TMO
DHR	0.4		0.3	-0.54	0.53	0.69	0.35	0.22	0.47	DHR
WAT	0.92	0.3		0.3	0.78	0.23	0.47	0.37	0.61	WAT
IDXX	0.27	-0.54	0.3		0.21	-0.2	0.31	0.42	0.13	IDXX
A	0.84	0.53	0.78	0.21		0.55	0.72	0.59	0.79	A
EXAS	0.44	0.69	0.23	-0.2	0.55		0.67	0.53	0.71	EXAS
NTRA	0.67	0.35	0.47	0.31	0.72	0.67		0.9	0.79	NTRA
CDNA	0.53	0.22	0.37	0.42	0.59	0.53	0.9		0.62	CDNA
TWST	0.74	0.47	0.61	0.13	0.79	0.71	0.79	0.62		TWST
	TMO	DHR	WAT	IDXX	A	EXAS	NTRA	CDNA	TWST

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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

WAT	+ 0.92	TMO
CDNA	+ 0.9	NTRA
A	+ 0.84	TMO
TWST	+ 0.79	A
TWST	+ 0.79	NTRA
A	+ 0.78	WAT

High negative correlations

IDXX	- 0.54	DHR
EXAS	- 0.2	IDXX

Risk-Adjusted Indicators

There is a big difference between Illumina Stock performing well and Illumina 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 Illumina'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
TMO	1.14	0.07	0.08	0.04	1.35	(1.24)	2.44	(2.39)	10.04
DHR	1.15	(0.04)	0.00	(0.18)	0.00	0.00	2.26	(3.23)	12.14
WAT	1.36	0.17	0.11	0.15	1.67	(1.50)	3.24	(2.93)	10.90
IDXX	1.34	0.09	0.08	0.13	1.69	(1.34)	2.41	(3.31)	14.80
A	1.13	(0.12)	0.00	(0.22)	0.00	0.00	2.92	(2.59)	9.03
EXAS	1.86	(0.28)	0.00	(0.48)	0.00	0.00	4.55	(5.75)	13.23
NTRA	2.12	0.02	0.00	(0.08)	0.00	0.00	4.79	(5.71)	13.77
CDNA	3.05	0.12	0.00	(0.04)	0.00	0.00	6.09	(7.44)	19.59
TWST	3.15	0.15	0.00	(0.03)	0.00	0.00	6.59	(6.90)	18.27

Illumina Corporate Management

Steven Hoffman	Segment Sequencing	Profile
Pat Leckman	Interim Officer	Profile
Ankur Dhingra	Chief Officer	Profile
Nicole Berry	Head RegionAmericas	Profile

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