Hologic Correlations

HOLX Stock

USD 66.61 0.51 0.76%

The current 90-days correlation between Hologic and ICU Medical is -0.19 (i.e., Good diversification). The correlation of Hologic 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.

Hologic Correlation With Market

Good diversification

The correlation between Hologic and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hologic and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hologic Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hologic. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

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

Moving together with Hologic Stock

0.74	LH	Laboratory	Pair Corr
0.74	HUM	Humana Inc	Pair Corr
0.73	ATEC	Alphatec Holdings	Pair Corr
0.87	CTKB	Cytek Biosciences	Pair Corr
0.78	VALN	Valneva SE ADR	Pair Corr
0.81	ESPR	Esperion Therapeutics	Pair Corr
0.78	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.65	MRK	Merck Company	Pair Corr
0.69	PFE	Pfizer Inc	Pair Corr

Moving against Hologic Stock

0.69	MCK	McKesson	Pair Corr
0.67	XAIR	Beyond Air	Pair Corr
0.6	OMI	Owens Minor	Pair Corr
0.56	CI	Cigna Corp Sell-off Trend	Pair Corr
0.54	WGRX	Wellgistics Health,	Pair Corr
0.54	GCTK	GlucoTrack Downward Rally	Pair Corr
0.54	MMSI	Merit Medical Systems	Pair Corr
0.47	CAH	Cardinal Health	Pair Corr
0.46	HSIC	Henry Schein	Pair Corr
0.43	JYNT	Joint Corp	Pair Corr
0.39	LNSR	LENSAR Inc	Pair Corr
0.8	TNDM	Tandem Diabetes Care	Pair Corr
0.79	MYND	Myndai,	Pair Corr
0.79	ERNA	Eterna Therapeutics	Pair Corr
0.72	MLAB	Mesa Laboratories	Pair Corr
0.64	FLGC	Flora Growth Corp	Pair Corr
0.6	BMGL	Basel Medical Group	Pair Corr
0.52	LPCN	Lipocine	Pair Corr

Related Correlations Analysis

	HAE	ICUI	NVST	COO	WST	TFX	ALC	RMD	BDX	MMSI
HAE		0.65	-0.46	0.12	-0.46	-0.59	0.63	-0.65	-0.78	0.29	HAE
ICUI	0.65		-0.41	0.03	-0.43	0.09	0.22	-0.61	-0.66	0.64	ICUI
NVST	-0.46	-0.41		0.29	0.67	0.26	-0.22	0.78	0.79	-0.52	NVST
COO	0.12	0.03	0.29		0.19	-0.07	0.38	0.16	0.27	-0.1	COO
WST	-0.46	-0.43	0.67	0.19		0.2	-0.06	0.81	0.74	-0.6	WST
TFX	-0.59	0.09	0.26	-0.07	0.2		-0.56	0.24	0.42	0.29	TFX
ALC	0.63	0.22	-0.22	0.38	-0.06	-0.56		-0.25	-0.35	-0.08	ALC
RMD	-0.65	-0.61	0.78	0.16	0.81	0.24	-0.25		0.86	-0.73	RMD
BDX	-0.78	-0.66	0.79	0.27	0.74	0.42	-0.35	0.86		-0.55	BDX
MMSI	0.29	0.64	-0.52	-0.1	-0.6	0.29	-0.08	-0.73	-0.55		MMSI
	HAE	ICUI	NVST	COO	WST	TFX	ALC	RMD	BDX	MMSI

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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

BDX	+ 0.86	RMD
RMD	+ 0.81	WST
BDX	+ 0.79	NVST
RMD	+ 0.78	NVST
BDX	+ 0.74	WST
WST	+ 0.67	NVST

High negative correlations

BDX	- 0.78	HAE
MMSI	- 0.73	RMD
BDX	- 0.66	ICUI
RMD	- 0.65	HAE
RMD	- 0.61	ICUI
MMSI	- 0.6	WST

Risk-Adjusted Indicators

There is a big difference between Hologic Stock performing well and Hologic 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 Hologic'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
HAE	1.72	(0.47)	0.00	(0.16)	0.00	0.00	2.29	(2.88)	28.87
ICUI	1.76	(0.22)	0.00	(0.08)	0.00	0.00	3.45	(3.72)	16.90
NVST	1.64	0.05	0.04	0.13	1.73	(1.71)	3.54	(2.90)	13.70
COO	1.79	(0.31)	0.00	(0.71)	0.00	0.00	2.55	(2.65)	18.44
WST	1.66	0.22	0.10	0.59	1.53	(2.36)	3.38	(2.78)	28.37
TFX	1.47	(0.07)	(0.02)	0.04	1.55	(1.74)	3.70	(2.69)	7.95
ALC	1.23	(0.14)	0.00	(4.15)	0.00	0.00	2.18	(2.47)	14.09
RMD	0.91	0.00	0.05	0.00	0.90	(1.06)	2.23	(1.98)	7.08
BDX	1.16	0.13	0.03	15.28	1.18	(1.30)	3.10	(2.12)	11.37
MMSI	1.07	(0.04)	0.00	0.23	0.00	0.00	2.29	(1.80)	14.94

Hologic Corporate Management

Mark Irving	VP Secretary	Profile
Paul Malenchini	Chief Officer	Profile
Peter Dunne	Senior Resources	Profile
Benjamin Cohn	Principal Chief Accounting Officer	Profile
Erik Anderson	Division Solutions	Profile
Kevin Thornal	Group Solutions	Profile

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