Smith Nephew Correlations
| SNN Stock | USD 28.13 0.33 1.16% |
The current 90-days correlation between Smith Nephew SNATS and CochLear Ltd ADR is -0.13 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Smith Nephew moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Smith Nephew SNATS moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Smith Nephew Correlation With Market
Modest diversification
The correlation between Smith Nephew SNATS and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smith Nephew SNATS and DJI in the same portfolio, assuming nothing else is changed.
Smith |
Moving together with Smith Stock
| 0.84 | CMRX | Chimerix | PairCorr |
| 0.71 | NVRO | Nevro Corp | PairCorr |
| 0.83 | T | ATT Inc Earnings Call This Week | PairCorr |
| 0.73 | MCD | McDonalds | PairCorr |
| 0.9 | VZ | Verizon Communications | PairCorr |
| 0.91 | JNJ | Johnson Johnson | PairCorr |
Moving against Smith Stock
| 0.82 | AA | Alcoa Corp | PairCorr |
| 0.72 | HPQ | HP Inc | PairCorr |
| 0.69 | AXP | American Express Sell-off Trend | PairCorr |
| 0.67 | EYEN | Eyenovia | PairCorr |
| 0.66 | CAT | Caterpillar | PairCorr |
| 0.64 | LNDNF | Lundin Energy AB | PairCorr |
| 0.61 | BA | Boeing | PairCorr |
| 0.57 | VOR | Vor Biopharma | PairCorr |
| 0.56 | DIS | Walt Disney | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Smith Stock performing well and Smith Nephew 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 Smith Nephew'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CHEOY | 1.54 | (0.08) | 0.00 | (0.90) | 0.00 | 2.52 | 16.21 | |||
| ITGR | 1.15 | (0.22) | 0.00 | (0.30) | 0.00 | 1.68 | 8.30 | |||
| CFMS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MOTS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| OFIX | 1.23 | (0.06) | 0.00 | (0.14) | 0.00 | 2.18 | 6.60 | |||
| NUVA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GKOS | 2.34 | (0.28) | 0.00 | (0.24) | 0.00 | 4.97 | 24.99 | |||
| HSKA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BRKR | 1.94 | (0.36) | 0.00 | (2.00) | 0.00 | 3.10 | 13.63 | |||
| GMED | 1.20 | (0.11) | 0.00 | (0.19) | 0.00 | 2.11 | 8.53 |