DexCom Correlations

D1EX34 Stock

BRL 8.89 0.19 2.09%

The current 90-days correlation between DexCom Inc and Paycom Software is 0.08 (i.e., Significant diversification). The correlation of DexCom 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.

DexCom Correlation With Market

Modest diversification

The correlation between DexCom Inc 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 DexCom Inc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to DexCom could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DexCom when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back DexCom - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling DexCom Inc to buy it.

Moving together with DexCom Stock

0.86	I1DX34	IDEXX Laboratories,	Pair Corr
0.66	MSFT34	Microsoft	Pair Corr
0.63	AMZO34	Amazon Inc	Pair Corr
0.74	TSLA34	Tesla Inc Earnings Call This Week	Pair Corr
0.64	VISA34	Visa Inc Earnings Call This Week	Pair Corr
0.78	ITUB4	Ita Unibanco Holding	Pair Corr

Moving against DexCom Stock

0.74	UNHH34	UnitedHealth Group	Pair Corr
0.68	TMOS34	Thermo Fisher Scientific Earnings Call This Week	Pair Corr
0.47	BERK34	Berkshire Hathaway	Pair Corr
0.43	JNJB34	Johnson Johnson	Pair Corr
0.38	DHER34	Danaher Earnings Call This Week	Pair Corr
0.37	I1QV34	IQVIA Holdings Earnings Call This Week	Pair Corr

Related Correlations Analysis

	P1YC34	A1PD34	S1TX34	H1RL34	ROST34	M1CH34	D1XC34
P1YC34		-0.07	0.16	0.19	0.25	0.18	0.48	P1YC34
A1PD34	-0.07		0.77	-0.51	-0.63	0.62	-0.29	A1PD34
S1TX34	0.16	0.77		-0.62	-0.71	0.96	-0.29	S1TX34
H1RL34	0.19	-0.51	-0.62		0.5	-0.63	0.09	H1RL34
ROST34	0.25	-0.63	-0.71	0.5		-0.63	0.67	ROST34
M1CH34	0.18	0.62	0.96	-0.63	-0.63		-0.21	M1CH34
D1XC34	0.48	-0.29	-0.29	0.09	0.67	-0.21		D1XC34
	P1YC34	A1PD34	S1TX34	H1RL34	ROST34	M1CH34	D1XC34

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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

M1CH34	+ 0.96	S1TX34
S1TX34	+ 0.77	A1PD34
D1XC34	+ 0.67	ROST34
M1CH34	+ 0.62	A1PD34
ROST34	+ 0.5	H1RL34
D1XC34	+ 0.48	P1YC34

High negative correlations

ROST34	- 0.71	S1TX34
M1CH34	- 0.63	ROST34
M1CH34	- 0.63	H1RL34
ROST34	- 0.63	A1PD34
H1RL34	- 0.62	S1TX34
H1RL34	- 0.51	A1PD34

Risk-Adjusted Indicators

There is a big difference between DexCom Stock performing well and DexCom 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 DexCom'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
P1YC34	0.91	0.05	(0.03)	(0.39)	1.35	(2.36)	1.82	(3.56)	22.07
A1PD34	0.14	0.02	0.00	(0.64)	0.00	0.00	0.46	(0.03)	2.68
S1TX34	2.14	1.15	0.70	3.02	0.00	(5.50)	6.27	(0.72)	29.21
H1RL34	0.39	(0.07)	0.00	(0.87)	0.00	0.00	0.69	(0.71)	9.41
ROST34	0.84	(0.30)	0.00	(0.28)	0.00	0.00	1.47	(2.03)	14.31
M1CH34	2.07	0.95	0.37	7.65	0.55	(3.78)	6.74	(2.43)	16.34
D1XC34	0.49	(0.04)	0.00	(0.06)	0.00	0.00	0.75	(1.15)	14.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in DexCom without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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