Teleflex Incorporated Correlations

TFX Stock

USD 192.85 0.85 0.44%

The current 90-days correlation between Teleflex Incorporated and West Pharmaceutical Services is 0.13 (i.e., Average diversification). The correlation of Teleflex Incorporated 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.

Teleflex Incorporated Correlation With Market

Modest diversification

The correlation between Teleflex Incorporated and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Teleflex Incorporated and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Teleflex Incorporated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

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

Moving together with Teleflex Stock

0.75	VERO	Venus Concept	Pair Corr
0.95	EKSO	Ekso Bionics Holdings	Pair Corr
0.67	LIFWW	MSP Recovery	Pair Corr

Moving against Teleflex Stock

0.91	MD	Mednax Inc	Pair Corr
0.87	VREX	Varex Imaging Corp	Pair Corr
0.87	ELMD	Electromed	Pair Corr
0.82	OM	Outset Medical	Pair Corr
0.79	LH	Laboratory	Pair Corr
0.79	DOCS	Doximity	Pair Corr
0.74	GH	Guardant Health	Pair Corr
0.65	DXCM	DexCom Inc Sell-off Trend	Pair Corr
0.46	VEEV	Veeva Systems Class Earnings Call This Week	Pair Corr
0.93	LNSR	LENSAR Inc	Pair Corr
0.84	WGS	GeneDx Holdings Corp	Pair Corr
0.82	OFIX	Orthofix Medical	Pair Corr
0.82	PODD	Insulet	Pair Corr
0.81	SYK	Stryker	Pair Corr
0.81	MMSI	Merit Medical Systems	Pair Corr
0.77	BSX	Boston Scientific Corp Sell-off Trend	Pair Corr
0.68	NPCE	Neuropace	Pair Corr
0.61	ENOV	Enovis Corp	Pair Corr
0.61	FNA	Paragon 28	Pair Corr
0.54	ABT	Abbott Laboratories Sell-off Trend	Pair Corr
0.42	ZBH	Zimmer Biomet Holdings	Pair Corr
0.91	CVRX	CVRx Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.76	AORT	Artivion	Pair Corr
0.76	TCMD	Tactile Systems Tech	Pair Corr
0.76	CTKB	Cytek Biosciences	Pair Corr
0.63	BWAY	Brainsway	Pair Corr
0.62	VANI	Vivani Medical	Pair Corr

Related Correlations Analysis

	WST	ALC	RMD	ICUI	COO	BDX	HOLX	MMSI	HAE	ANGO
WST		-0.57	0.25	-0.32	-0.41	-0.48	-0.4	0.66	0.6	0.28	WST
ALC	-0.57		0.04	0.39	0.8	0.76	0.59	-0.74	-0.72	0.28	ALC
RMD	0.25	0.04		-0.3	0.15	-0.21	0.17	0.28	0.02	0.47	RMD
ICUI	-0.32	0.39	-0.3		0.45	0.49	0.16	-0.3	-0.16	-0.18	ICUI
COO	-0.41	0.8	0.15	0.45		0.55	0.64	-0.51	-0.59	0.27	COO
BDX	-0.48	0.76	-0.21	0.49	0.55		0.56	-0.8	-0.67	-0.01	BDX
HOLX	-0.4	0.59	0.17	0.16	0.64	0.56		-0.51	-0.71	0.21	HOLX
MMSI	0.66	-0.74	0.28	-0.3	-0.51	-0.8	-0.51		0.81	0.21	MMSI
HAE	0.6	-0.72	0.02	-0.16	-0.59	-0.67	-0.71	0.81		0.0	HAE
ANGO	0.28	0.28	0.47	-0.18	0.27	-0.01	0.21	0.21	0.0		ANGO
	WST	ALC	RMD	ICUI	COO	BDX	HOLX	MMSI	HAE	ANGO

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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

HAE	+ 0.81	MMSI
COO	+ 0.8	ALC
BDX	+ 0.76	ALC
MMSI	+ 0.66	WST
HOLX	+ 0.64	COO
HAE	+ 0.6	WST

High negative correlations

MMSI	- 0.8	BDX
MMSI	- 0.74	ALC
HAE	- 0.72	ALC
HAE	- 0.71	HOLX
HAE	- 0.67	BDX
HAE	- 0.59	COO

Risk-Adjusted Indicators

There is a big difference between Teleflex Stock performing well and Teleflex Incorporated 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 Teleflex Incorporated'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
WST	1.79	0.03	0.02	0.16	2.04	(2.00)	4.50	(3.02)	22.42
ALC	0.84	(0.19)	0.00	(0.29)	0.00	0.00	1.69	(2.03)	8.43
RMD	1.07	0.01	(0.05)	0.18	1.61	(1.03)	2.08	(2.59)	11.88
ICUI	1.29	(0.12)	(0.06)	0.01	1.74	(1.31)	2.77	(2.50)	10.44
COO	0.91	0.11	0.03	0.41	0.84	(0.98)	1.53	(1.64)	13.98
BDX	0.83	(0.20)	0.00	(0.16)	0.00	0.00	1.49	(1.42)	7.77
HOLX	0.89	(0.06)	0.00	(0.07)	0.00	0.00	1.81	(1.79)	8.14
MMSI	0.84	0.05	(0.01)	0.23	0.86	(0.90)	2.07	(1.23)	6.42
HAE	1.47	0.12	0.08	0.24	1.25	(1.80)	4.24	(2.02)	14.50
ANGO	2.11	(0.27)	0.00	(0.03)	0.00	0.00	3.71	(4.03)	18.73

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