IQVIA Holdings Correlations

IQV Stock

USD 184.26 0.00 0.00%

The current 90-days correlation between IQVIA Holdings and Laboratory of is 0.45 (i.e., Very weak diversification). The correlation of IQVIA Holdings 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.

IQVIA Holdings Correlation With Market

Weak diversification

The correlation between IQVIA Holdings and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IQVIA Holdings 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 IQVIA Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

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

Moving together with IQVIA Stock

0.66	VOR	Vor Biopharma	Pair Corr
0.62	MOLN	Molecular Partners	Pair Corr
0.66	CLDX	Celldex Therapeutics	Pair Corr
0.79	ELMD	Electromed	Pair Corr
0.85	GKOS	Glaukos Corp	Pair Corr
0.73	INGN	Inogen Inc	Pair Corr
0.85	ITGR	Integer Holdings Corp	Pair Corr
0.79	LIVN	LivaNova PLC	Pair Corr
0.69	MODD	Modular Medical	Pair Corr
0.66	OTRK	Ontrak Inc	Pair Corr
0.63	APYX	Apyx Medical	Pair Corr
0.62	SRDX	SurModics	Pair Corr
0.8	CNMD	CONMED	Pair Corr

Moving against IQVIA Stock

0.68	CMRX	Chimerix Sell-off Trend	Pair Corr
0.64	LUNG	Pulmonx Corp	Pair Corr
0.62	LUCD	Lucid Diagnostics Buyout Trend	Pair Corr
0.6	CPIX	Cumberland Pharmaceuticals	Pair Corr
0.53	INMD	InMode	Pair Corr
0.39	FNA	Paragon 28	Pair Corr
0.77	TCTZF	Tencent Holdings Downward Rally	Pair Corr
0.77	CBYDF	Corby Spirit	Pair Corr
0.6	CDUAF	Canadian Utilities	Pair Corr
0.52	DNCVF	Defiance Silver Corp	Pair Corr
0.51	GORO	Gold Resource	Pair Corr
0.5	AXSM	Axsome Therapeutics	Pair Corr
0.43	FWEDF	Fireweed Zinc	Pair Corr
0.42	NVRO	Nevro Corp	Pair Corr
0.41	INVX	Innovex International, Symbol Change	Pair Corr
0.4	CDR-PB	Cedar Realty Trust	Pair Corr
0.38	BAOB	Baraboo Bancorporation	Pair Corr
0.37	MFON	Mobivity Holdings	Pair Corr
0.33	KEY-PI	KeyCorp	Pair Corr

Related Correlations Analysis

	SYNH	CRL	LH	MEDP	WAT	IDXX	RVTY	MTD	TWST	ICLR
SYNH		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SYNH
CRL	0.0		-0.77	0.11	-0.39	-0.56	-0.16	-0.56	-0.02	0.71	CRL
LH	0.0	-0.77		-0.04	0.42	0.61	0.28	0.61	-0.13	-0.61	LH
MEDP	0.0	0.11	-0.04		0.49	0.33	0.61	0.57	0.74	0.54	MEDP
WAT	0.0	-0.39	0.42	0.49		0.33	0.9	0.87	0.58	-0.02	WAT
IDXX	0.0	-0.56	0.61	0.33	0.33		0.16	0.63	0.14	-0.32	IDXX
RVTY	0.0	-0.16	0.28	0.61	0.9	0.16		0.77	0.62	0.21	RVTY
MTD	0.0	-0.56	0.61	0.57	0.87	0.63	0.77		0.57	-0.13	MTD
TWST	0.0	-0.02	-0.13	0.74	0.58	0.14	0.62	0.57		0.44	TWST
ICLR	0.0	0.71	-0.61	0.54	-0.02	-0.32	0.21	-0.13	0.44		ICLR
	SYNH	CRL	LH	MEDP	WAT	IDXX	RVTY	MTD	TWST	ICLR

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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

RVTY	+ 0.9	WAT
MTD	+ 0.87	WAT
MTD	+ 0.77	RVTY
TWST	+ 0.74	MEDP
ICLR	+ 0.71	CRL
MTD	+ 0.63	IDXX

High negative correlations

LH	- 0.77	CRL
ICLR	- 0.61	LH
MTD	- 0.56	CRL
IDXX	- 0.56	CRL
WAT	- 0.39	CRL
ICLR	- 0.32	IDXX

Risk-Adjusted Indicators

There is a big difference between IQVIA Stock performing well and IQVIA Holdings 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 IQVIA Holdings' 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
SYNH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CRL	1.62	(0.11)	0.00	(0.29)	0.00	0.00	3.86	(3.26)	11.72
LH	0.82	0.10	0.13	0.14	0.99	(0.84)	1.65	(1.63)	5.79
MEDP	1.44	0.00	0.00	(0.08)	0.00	0.00	2.24	(3.94)	10.53
WAT	1.36	0.00	0.00	(0.07)	0.00	0.00	2.95	(2.93)	10.90
IDXX	1.31	(0.01)	0.00	(0.11)	0.00	0.00	2.22	(3.31)	14.80
RVTY	1.39	(0.02)	0.00	(0.10)	0.00	0.00	2.93	(3.38)	12.24
MTD	1.21	0.00	0.00	(0.08)	0.00	0.00	2.34	(2.81)	8.60
TWST	3.10	(0.04)	0.00	(0.10)	0.00	0.00	6.39	(6.90)	18.27
ICLR	1.43	(0.17)	0.00	(0.43)	0.00	0.00	3.28	(2.74)	11.42

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