Varex Imaging Correlations

VREX Stock

USD 16.53 0.02 0.12%

The current 90-days correlation between Varex Imaging Corp and Si Bone is 0.27 (i.e., Modest diversification). The correlation of Varex Imaging 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.

Varex Imaging Correlation With Market

Modest diversification

The correlation between Varex Imaging Corp and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Varex Imaging Corp 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 Varex Imaging Corp. 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.

Moving together with Varex Stock

0.78	LH	Laboratory	Pair Corr
0.8	XAIR	Beyond Air	Pair Corr
0.77	CAH	Cardinal Health	Pair Corr
0.76	WGS	GeneDx Holdings Corp	Pair Corr
0.89	LNSR	LENSAR Inc	Pair Corr
0.74	MMSI	Merit Medical Systems	Pair Corr
0.64	OMIC	Singular Genomics Systems	Pair Corr
0.75	RDNT	RadNet Inc	Pair Corr
0.85	ATEC	Alphatec Holdings Buyout Trend	Pair Corr

Moving against Varex Stock

0.87	TFX	Teleflex Incorporated	Pair Corr
0.87	GCTK	GlucoTrack	Pair Corr
0.87	ZJYL	JIN MEDICAL INTERNATIONAL	Pair Corr
0.78	ELV	Elevance Health Fiscal Year End 22nd of January 2025	Pair Corr
0.75	CNC	Centene Corp Sell-off Trend	Pair Corr
0.75	XTNT	Xtant Medical Holdings	Pair Corr
0.66	AHG	Akso Health Group	Pair Corr
0.63	MASS	908 Devices	Pair Corr
0.62	CI	Cigna Corp	Pair Corr
0.59	MOH	Molina Healthcare	Pair Corr
0.34	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.33	XYLO	Xylo Technologies Symbol Change	Pair Corr
0.85	ACET	Adicet Bio Buyout Trend	Pair Corr
0.78	TNDM	Tandem Diabetes Care	Pair Corr
0.67	VALN	Valneva SE ADR	Pair Corr
0.63	MXCT	MaxCyte	Pair Corr
0.61	A	Agilent Technologies	Pair Corr
0.61	ERNA	Eterna Therapeutics	Pair Corr
0.42	NEUE	NeueHealth Symbol Change	Pair Corr

Related Correlations Analysis

	SGHT	APYX	SIBN	IRMD	OFIX	GKOS	BRKR	FNA	KIDS	NPCE
SGHT		-0.45	0.59	-0.75	-0.65	-0.77	0.87	-0.43	0.64	-0.54	SGHT
APYX	-0.45		0.07	0.31	0.69	0.7	-0.34	0.61	-0.1	0.64	APYX
SIBN	0.59	0.07		-0.37	0.12	-0.2	0.47	0.1	0.77	-0.05	SIBN
IRMD	-0.75	0.31	-0.37		0.55	0.69	-0.6	0.15	-0.57	0.3	IRMD
OFIX	-0.65	0.69	0.12	0.55		0.8	-0.65	0.75	-0.01	0.74	OFIX
GKOS	-0.77	0.7	-0.2	0.69	0.8		-0.73	0.57	-0.36	0.65	GKOS
BRKR	0.87	-0.34	0.47	-0.6	-0.65	-0.73		-0.42	0.47	-0.45	BRKR
FNA	-0.43	0.61	0.1	0.15	0.75	0.57	-0.42		0.04	0.93	FNA
KIDS	0.64	-0.1	0.77	-0.57	-0.01	-0.36	0.47	0.04		-0.09	KIDS
NPCE	-0.54	0.64	-0.05	0.3	0.74	0.65	-0.45	0.93	-0.09		NPCE
	SGHT	APYX	SIBN	IRMD	OFIX	GKOS	BRKR	FNA	KIDS	NPCE

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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

NPCE	+ 0.93	FNA
BRKR	+ 0.87	SGHT
GKOS	+ 0.8	OFIX
KIDS	+ 0.77	SIBN
FNA	+ 0.75	OFIX
NPCE	+ 0.74	OFIX

High negative correlations

GKOS	- 0.77	SGHT
IRMD	- 0.75	SGHT
BRKR	- 0.73	GKOS
BRKR	- 0.65	OFIX
OFIX	- 0.65	SGHT
BRKR	- 0.6	IRMD

Risk-Adjusted Indicators

There is a big difference between Varex Stock performing well and Varex Imaging 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 Varex Imaging'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
SGHT	3.05	(0.64)	0.00	0.94	0.00	0.00	6.65	(7.84)	18.22
APYX	3.24	0.18	0.05	0.31	3.31	(4.26)	9.38	(6.45)	32.02
SIBN	2.84	(0.57)	0.00	(0.19)	0.00	0.00	5.99	(4.54)	26.24
IRMD	1.56	0.00	0.04	0.12	1.73	(1.80)	3.26	(2.53)	11.03
OFIX	1.84	0.02	0.03	0.14	2.07	(2.03)	3.90	(3.85)	12.11
GKOS	1.58	(0.10)	(0.01)	0.06	1.68	(1.74)	3.30	(2.86)	13.23
BRKR	2.02	(0.24)	0.00	(0.15)	0.00	0.00	4.74	(3.68)	10.80
FNA	3.71	0.13	0.07	0.17	4.06	(4.15)	7.32	(6.30)	43.16
KIDS	2.45	(0.41)	0.00	(0.23)	0.00	0.00	4.85	(5.08)	16.62
NPCE	3.46	0.18	0.10	0.20	3.15	(4.25)	9.73	(6.19)	35.38

Varex Imaging Corporate Management

Kimberley JD	General Officer	Profile
Shubham Maheshwari	CFO Officer	Profile
Chad Holman	Chief VP	Profile
David Carmona	Vice Marketing	Profile
Christopher Belfiore	Director Relations	Profile

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