Quidel Correlations

QDEL Stock

USD 41.74 0.14 0.33%

The current 90-days correlation between Quidel and Tandem Diabetes Care is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Quidel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Quidel moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Quidel Correlation With Market

Significant diversification

The correlation between Quidel and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Quidel and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Quidel. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

For more information on how to buy Quidel Stock please use our How to buy in Quidel Stock guide.

Moving together with Quidel Stock

0.71	ECOR	Electrocore LLC	Pair Corr
0.63	AHG	Akso Health Group	Pair Corr

Moving against Quidel Stock

0.73	ENSG	Ensign Group	Pair Corr
0.58	CI	Cigna Corp	Pair Corr
0.4	EDAP	EDAP TMS SA	Pair Corr
0.33	ELAB	Elevai Labs, Common	Pair Corr
0.31	EKSO	Ekso Bionics Holdings	Pair Corr
0.65	DXR	Daxor	Pair Corr
0.64	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.62	COO	Cooper Companies,	Pair Corr
0.6	BAX	Baxter International	Pair Corr
0.57	BVS	Bioventus	Pair Corr
0.51	BKD	Brookdale Senior Living	Pair Corr
0.49	DGX	Quest Diagnostics	Pair Corr
0.46	XAIR	Beyond Air	Pair Corr
0.46	CHE	Chemed Corp	Pair Corr
0.42	ABT	Abbott Laboratories Earnings Call This Week	Pair Corr

Related Correlations Analysis

	TNDM	DXCM	INSP	SWAV	PEN	NUVA	GKOS	CNMD	LIVN	MASI
TNDM		0.26	0.27	-0.27	0.05	0.65	0.4	-0.38	-0.53	0.05	TNDM
DXCM	0.26		-0.37	0.02	0.72	-0.1	0.72	0.19	-0.61	0.72	DXCM
INSP	0.27	-0.37		0.15	-0.35	0.38	-0.18	-0.13	0.21	-0.28	INSP
SWAV	-0.27	0.02	0.15		-0.01	-0.14	-0.3	0.29	0.19	0.14	SWAV
PEN	0.05	0.72	-0.35	-0.01		-0.28	0.73	0.63	-0.58	0.89	PEN
NUVA	0.65	-0.1	0.38	-0.14	-0.28		0.01	-0.6	-0.11	-0.42	NUVA
GKOS	0.4	0.72	-0.18	-0.3	0.73	0.01		0.2	-0.78	0.68	GKOS
CNMD	-0.38	0.19	-0.13	0.29	0.63	-0.6	0.2		-0.04	0.69	CNMD
LIVN	-0.53	-0.61	0.21	0.19	-0.58	-0.11	-0.78	-0.04		-0.51	LIVN
MASI	0.05	0.72	-0.28	0.14	0.89	-0.42	0.68	0.69	-0.51		MASI
	TNDM	DXCM	INSP	SWAV	PEN	NUVA	GKOS	CNMD	LIVN	MASI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MASI	+ 0.89	PEN
GKOS	+ 0.73	PEN
PEN	+ 0.72	DXCM
GKOS	+ 0.72	DXCM
MASI	+ 0.72	DXCM
MASI	+ 0.69	CNMD

High negative correlations

LIVN	- 0.78	GKOS
LIVN	- 0.61	DXCM
CNMD	- 0.6	NUVA
LIVN	- 0.58	PEN
LIVN	- 0.53	TNDM
MASI	- 0.51	LIVN

Risk-Adjusted Indicators

There is a big difference between Quidel Stock performing well and Quidel 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 Quidel'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
TNDM	2.74	(0.05)	0.00	(0.13)	0.00	0.00	6.14	(6.23)	14.41
DXCM	1.66	0.32	0.17	(16.59)	1.45	(1.92)	5.52	(2.79)	10.13
INSP	2.36	(0.22)	0.00	(0.40)	0.00	0.00	5.02	(5.33)	19.71
SWAV	1.68	0.00	0.02	0.00	2.04	(1.98)	3.76	(3.16)	16.22
PEN	1.48	0.34	0.21	1.66	1.31	(1.72)	3.51	(2.56)	11.81
NUVA	1.23	(0.03)	0.00	(1.84)	0.00	0.00	3.31	(2.75)	7.19
GKOS	1.78	0.31	0.16	(0.55)	1.61	(2.20)	4.77	(2.98)	13.23
CNMD	1.60	0.07	0.03	0.12	1.93	(1.65)	3.51	(2.69)	10.91
LIVN	1.26	(0.17)	0.00	(0.45)	0.00	0.00	2.90	(2.87)	9.56
MASI	1.32	0.26	0.17	0.37	1.29	(1.56)	2.83	(1.98)	14.35

Quidel Corporate Management

Ruben Argueta	Director Relations	Profile
Juliet Cunningham	Vice Relations	Profile
Michelle JD	Chief Officer	Profile
Chockalingam Palaniappan	Chief Officer	Profile
Joseph CPA	Chief Officer	Profile
Louise Brandy	Senior Officer	Profile
Tamara Ranalli	Molecular Leader	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC