Myriad Genetics Correlations

MYGN Stock

USD 10.01 0.10 1.01%

The current 90-days correlation between Myriad Genetics and Guardant Health is -0.13 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Myriad Genetics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Myriad Genetics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Myriad Genetics Correlation With Market

Good diversification

The correlation between Myriad Genetics and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Myriad Genetics and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Myriad Genetics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

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

Moving together with Myriad Stock

0.61	MOLN	Molecular Partners	Pair Corr
0.77	SNDL	SNDL Inc	Pair Corr
0.7	CLDX	Celldex Therapeutics	Pair Corr
0.77	GKOS	Glaukos Corp	Pair Corr
0.69	ITGR	Integer Holdings Corp	Pair Corr
0.79	LIVN	LivaNova PLC	Pair Corr
0.73	MODD	Modular Medical	Pair Corr
0.84	APYX	Apyx Medical	Pair Corr
0.79	SRDX	SurModics	Pair Corr

Moving against Myriad Stock

0.81	CMRX	Chimerix	Pair Corr
0.55	FNA	Paragon 28	Pair Corr
0.54	CPIX	Cumberland Pharmaceuticals	Pair Corr
0.59	NVRO	Nevro Corp	Pair Corr
0.46	LUCD	Lucid Diagnostics	Pair Corr
0.4	INMD	InMode	Pair Corr
0.38	NYXH	Nyxoah	Pair Corr
0.36	KIDS	Orthopediatrics Corp	Pair Corr
0.33	LUNG	Pulmonx Corp	Pair Corr
0.84	NHNCF	NAVER Corp	Pair Corr
0.76	BRK-A	Berkshire Hathaway	Pair Corr
0.76	BRK-B	Berkshire Hathaway	Pair Corr
0.64	PKX	POSCO Holdings	Pair Corr
0.49	FWEDF	Fireweed Zinc	Pair Corr
0.36	TOI	Oncology Institute Earnings Call This Week	Pair Corr

Related Correlations Analysis

	GH	CDNA	CSTL	SHC	SYNH	NEOG	RDNT	NTRA	MEDP
GH		0.26	-0.14	0.07	0.0	-0.55	-0.43	0.22	0.1	GH
CDNA	0.26		0.79	0.75	0.0	0.43	0.6	0.9	0.64	CDNA
CSTL	-0.14	0.79		0.85	0.0	0.74	0.89	0.87	0.71	CSTL
SHC	0.07	0.75	0.85		0.0	0.57	0.74	0.83	0.72	SHC
SYNH	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SYNH
NEOG	-0.55	0.43	0.74	0.57	0.0		0.86	0.53	0.5	NEOG
RDNT	-0.43	0.6	0.89	0.74	0.0	0.86		0.69	0.6	RDNT
NTRA	0.22	0.9	0.87	0.83	0.0	0.53	0.69		0.72	NTRA
MEDP	0.1	0.64	0.71	0.72	0.0	0.5	0.6	0.72		MEDP
	GH	CDNA	CSTL	SHC	SYNH	NEOG	RDNT	NTRA	MEDP

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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

NTRA	+ 0.9	CDNA
RDNT	+ 0.89	CSTL
NTRA	+ 0.87	CSTL
RDNT	+ 0.86	NEOG
SHC	+ 0.85	CSTL
NTRA	+ 0.83	SHC

High negative correlations

NEOG	- 0.55	GH
RDNT	- 0.43	GH
CSTL	- 0.14	GH
MEDP	- 0.0	SYNH
NTRA	- 0.0	SYNH
RDNT	- 0.0	SYNH

Risk-Adjusted Indicators

There is a big difference between Myriad Stock performing well and Myriad Genetics 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 Myriad Genetics' 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
GH	3.39	0.62	0.14	0.26	3.55	(3.64)	6.28	(5.93)	32.66
CDNA	3.03	(0.10)	0.00	(0.12)	0.00	0.00	5.88	(7.44)	19.59
CSTL	2.49	(0.48)	0.00	(2.14)	0.00	0.00	4.51	(6.33)	23.81
SHC	1.44	(0.08)	0.00	(0.15)	0.00	0.00	2.40	(2.88)	12.51
SYNH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NEOG	2.05	(0.44)	0.00	(0.92)	0.00	0.00	3.92	(5.06)	12.07
RDNT	2.12	(0.58)	0.00	(0.62)	0.00	0.00	4.64	(5.11)	14.21
NTRA	2.16	(0.04)	0.00	(0.11)	0.00	0.00	4.36	(5.71)	13.77
MEDP	1.44	(0.10)	0.00	0.09	0.00	0.00	2.24	(3.94)	10.53

Myriad Genetics Corporate Management

Justin Hunter	Interim Secretary	Profile
Nicole Lambert	Chief Officer	Profile
Jennifer Fox	Chief Officer	Profile
Clivetty Martinez	Chief Officer	Profile

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