GeneDx Holdings Correlations

WGS Stock

104.39 7.68 7.94%

The correlation of GeneDx Holdings 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.

GeneDx Holdings Correlation With Market

Modest diversification

The correlation between GeneDx Holdings Corp and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GeneDx Holdings Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in GeneDx Holdings 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 price.

Moving together with GeneDx Stock

0.68	LUCD	Lucid Diagnostics	Pair Corr
0.62	OCX	OncoCyte Corp	Pair Corr
0.63	GOSS	Gossamer Bio	Pair Corr

Moving against GeneDx Stock

0.68	GPCR	Structure Therapeutics	Pair Corr
0.54	HOLX	Hologic	Pair Corr
0.46	INFU	InfuSystems Holdings	Pair Corr
0.43	SSKN	STRATA Skin Sciences Earnings Call Tomorrow	Pair Corr
0.41	ELEV	Elevation Oncology	Pair Corr
0.4	CDIOW	Cardio Diagnostics	Pair Corr
0.37	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.35	ELVN	Enliven Therapeutics	Pair Corr
0.57	SCLX	Scilex Holding	Pair Corr
0.53	IMMX	Immix Biopharma	Pair Corr
0.53	PYXS	Pyxis Oncology	Pair Corr
0.52	ZVSA	ZyVersa Therapeutics	Pair Corr
0.47	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.45	IMRX	Immuneering Corp	Pair Corr
0.44	ZURA	Zura Bio Limited	Pair Corr
0.44	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.44	ATNF	180 Life Sciences	Pair Corr
0.41	PHIO	Phio Pharmaceuticals Corp Earnings Call This Week	Pair Corr
0.38	AVTE	Aerovate Therapeutics	Pair Corr
0.35	PMVP	Pmv Pharmaceuticals	Pair Corr

Related Correlations Analysis

	NXGN	PRVA	AGTI	HSTM	CERT	MDRX	NRC	DH
NXGN		0.0	0.0	0.0	0.0	0.0	0.0	0.0	NXGN
PRVA	0.0		0.0	0.62	0.5	0.0	-0.6	-0.08	PRVA
AGTI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AGTI
HSTM	0.0	0.62	0.0		0.76	0.0	-0.04	0.49	HSTM
CERT	0.0	0.5	0.0	0.76		0.0	0.2	0.71	CERT
MDRX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	MDRX
NRC	0.0	-0.6	0.0	-0.04	0.2	0.0		0.63	NRC
DH	0.0	-0.08	0.0	0.49	0.71	0.0	0.63		DH
	NXGN	PRVA	AGTI	HSTM	CERT	MDRX	NRC	DH

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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

CERT	+ 0.76	HSTM
DH	+ 0.71	CERT
DH	+ 0.63	NRC
HSTM	+ 0.62	PRVA
CERT	+ 0.5	PRVA
DH	+ 0.49	HSTM

High negative correlations

NRC	- 0.6	PRVA
DH	- 0.08	PRVA
NRC	- 0.04	HSTM
DH	- 0.0	MDRX
NRC	- 0.0	MDRX
MDRX	- 0.0	CERT

Risk-Adjusted Indicators

There is a big difference between GeneDx Stock performing well and GeneDx Holdings 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 GeneDx Holdings' 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
NXGN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PRVA	1.52	0.24	0.11	0.18	1.99	(1.53)	3.10	(2.95)	12.06
AGTI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HSTM	0.97	0.01	0.00	(0.06)	0.00	0.00	1.68	(2.54)	6.42
CERT	2.05	0.04	0.00	(0.04)	0.00	0.00	4.70	(3.92)	16.63
MDRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NRC	2.03	(0.20)	0.00	(0.25)	0.00	0.00	3.81	(3.67)	16.14
DH	3.12	(0.49)	0.00	(0.83)	0.00	0.00	8.37	(5.82)	46.28

GeneDx Holdings Corporate Management

Daniel JD	Secretary	Profile
Heidi JD	Chief Officer	Profile
Britt Johnson	Head Affairs	Profile
Jami Biliboaca	Head Strategy	Profile
Eric Olivares	Chief Officer	Profile
Tricia Truehart	Head Relations	Profile

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