Baxter International Correlations

BAX Stock

USD 18.16 0.38 2.05%

The current 90-days correlation between Baxter International and Masimo is 0.23 (i.e., Modest diversification). The correlation of Baxter International 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.

Baxter International Correlation With Market

Weak diversification

The correlation between Baxter International and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baxter International and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Baxter Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Baxter International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with Baxter Stock

0.73	SYK	Stryker	Pair Corr
0.64	SMLR	Semler Scientific	Pair Corr
0.89	DCTH	Delcath Systems	Pair Corr
0.89	BA	Boeing	Pair Corr
0.84	HD	Home Depot	Pair Corr

Moving against Baxter Stock

0.89	TCMD	Tactile Systems Tech	Pair Corr
0.77	PPERY	Bank Mandiri Persero	Pair Corr
0.74	WILC	G Willi Food	Pair Corr
0.73	NPCE	Neuropace	Pair Corr
0.73	002432	Andon Health	Pair Corr
0.71	PBCRY	Bank Central Asia	Pair Corr
0.65	DHR	Danaher	Pair Corr
0.63	BFLY	Butterfly Network	Pair Corr
0.62	PREC	Prestige Cars Intern	Pair Corr
0.53	BKRKF	PT Bank Rakyat	Pair Corr
0.5	RXST	Rxsight	Pair Corr
0.45	CBLL	CeriBell,	Pair Corr
0.44	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.92	JPDYY	Japan Display ADR	Pair Corr
0.88	AHFI	Absolute Health	Pair Corr
0.87	VWDRY	Vestas Wind Systems	Pair Corr
0.87	DD	Dupont De Nemours	Pair Corr
0.85	RWEOY	RWE AG PK	Pair Corr
0.83	CAT	Caterpillar	Pair Corr
0.82	EW	Edwards Lifesciences Corp	Pair Corr
0.76	IBM	International Business	Pair Corr
0.74	KO	Coca Cola	Pair Corr
0.74	XOM	Exxon Mobil Corp	Pair Corr
0.73	AXP	American Express	Pair Corr
0.69	MMM	3M Company	Pair Corr
0.66	BAC	Bank of America Sell-off Trend	Pair Corr
0.53	INTC	Intel	Pair Corr

Related Correlations Analysis

	MASI	MDGL	ATR	RGEN	RNA	AVTR	DVA	HIMS	BIO	QGEN
MASI		-0.12	0.11	0.15	-0.04	0.42	0.11	0.09	0.28	0.29	MASI
MDGL	-0.12		-0.57	0.6	0.72	-0.6	-0.71	-0.81	0.4	-0.09	MDGL
ATR	0.11	-0.57		-0.6	-0.88	0.57	0.87	0.72	-0.51	0.35	ATR
RGEN	0.15	0.6	-0.6		0.69	0.01	-0.69	-0.54	0.89	0.42	RGEN
RNA	-0.04	0.72	-0.88	0.69		-0.55	-0.84	-0.86	0.64	-0.12	RNA
AVTR	0.42	-0.6	0.57	0.01	-0.55		0.57	0.6	0.21	0.67	AVTR
DVA	0.11	-0.71	0.87	-0.69	-0.84	0.57		0.74	-0.51	0.15	DVA
HIMS	0.09	-0.81	0.72	-0.54	-0.86	0.6	0.74		-0.51	0.14	HIMS
BIO	0.28	0.4	-0.51	0.89	0.64	0.21	-0.51	-0.51		0.53	BIO
QGEN	0.29	-0.09	0.35	0.42	-0.12	0.67	0.15	0.14	0.53		QGEN
	MASI	MDGL	ATR	RGEN	RNA	AVTR	DVA	HIMS	BIO	QGEN

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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

BIO	+ 0.89	RGEN
DVA	+ 0.87	ATR
HIMS	+ 0.74	DVA
RNA	+ 0.72	MDGL
HIMS	+ 0.72	ATR
RNA	+ 0.69	RGEN

High negative correlations

RNA	- 0.88	ATR
HIMS	- 0.86	RNA
DVA	- 0.84	RNA
HIMS	- 0.81	MDGL
DVA	- 0.71	MDGL
DVA	- 0.69	RGEN

Risk-Adjusted Indicators

There is a big difference between Baxter Stock performing well and Baxter International 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 Baxter International'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
MASI	1.51	(0.02)	(0.04)	(0.05)	1.88	(1.51)	3.02	(2.88)	7.84
MDGL	2.13	0.39	0.19	0.55	1.58	(2.52)	7.02	(2.94)	12.14
ATR	0.83	(0.23)	0.00	(0.78)	0.00	0.00	1.62	(1.51)	7.83
RGEN	2.24	0.32	0.15	0.30	2.12	(2.73)	5.28	(3.14)	15.00
RNA	2.77	0.63	0.17	1.02	2.67	(3.13)	5.20	(4.59)	42.91
AVTR	2.38	(0.34)	0.00	(0.20)	0.00	0.00	5.05	(4.40)	32.74
DVA	1.17	(0.30)	0.00	(0.29)	0.00	0.00	1.78	(2.85)	8.43
HIMS	3.81	(0.15)	0.00	0.29	0.00	0.00	8.33	(7.38)	32.02
BIO	1.77	(0.02)	0.01	0.05	1.82	(2.25)	4.31	(3.17)	10.91
QGEN	1.03	(0.10)	0.00	(0.09)	0.00	0.00	2.56	(2.45)	7.00

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