Danaher Correlations
| DHR Stock | MXN 4,263 42.17 0.98% |
The correlation of Danaher 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Danaher moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Danaher moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Significant diversification
The correlation between Danaher and NYA is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Danaher and NYA in the same portfolio, assuming nothing else is changed.
Danaher |
The ability to find closely correlated positions to Danaher could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Danaher 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 Danaher - 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 Danaher to buy it.
Moving against Danaher Stock
Related Correlations Analysis
| 0.22 | 0.0 | 0.53 | 0.36 | 0.12 | -0.46 | FR | ||
| 0.22 | 0.0 | 0.72 | -0.05 | -0.69 | 0.51 | AMP | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | GNW | ||
| 0.53 | 0.72 | 0.0 | -0.06 | -0.45 | 0.25 | AMAT | ||
| 0.36 | -0.05 | 0.0 | -0.06 | 0.47 | -0.49 | CTSH | ||
| 0.12 | -0.69 | 0.0 | -0.45 | 0.47 | -0.65 | X | ||
| -0.46 | 0.51 | 0.0 | 0.25 | -0.49 | -0.65 | PRU | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Danaher Stock performing well and Danaher 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 Danaher'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FR | 0.68 | (0.02) | (0.09) | 0.01 | 0.89 | 1.44 | 3.80 | |||
| AMP | 0.49 | 0.13 | 0.04 | 5.57 | 0.46 | 1.41 | 9.17 | |||
| GNW | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AMAT | 1.79 | 0.39 | 0.09 | (0.41) | 1.72 | 6.11 | 16.19 | |||
| CTSH | 0.43 | (0.22) | 0.00 | 1.58 | 0.00 | 0.00 | 10.88 | |||
| X | 1.23 | (0.32) | 0.00 | 3.22 | 0.00 | 1.72 | 21.45 | |||
| PRU | 0.32 | 0.17 | 0.00 | (0.50) | 0.00 | 0.00 | 10.65 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Danaher 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.Did you try this?
Run Global Correlations Now
Global CorrelationsFind global opportunities by holding instruments from different markets |
| All Next | Launch Module |
Danaher Corporate Directors
Danaher corporate directors refer to members of a Danaher board of directors. The board of directors generally takes responsibility for the Danaher's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Danaher's board members must vote for the resolution. The Danaher board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Robert Hugin | Director | Profile | |
| John Schwieters | Independent Director | Profile | |
| Linda Filler | Independent Director | Profile | |
| Teri ListStoll | Independent Director | Profile |
Already Invested in Danaher?
The danger of trading Danaher is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Danaher is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Danaher. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Danaher is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Danaher is a strong investment it is important to analyze Danaher's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Danaher's future performance. For an informed investment choice regarding Danaher Stock, refer to the following important reports: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Danaher. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. For more information on how to buy Danaher Stock please use our How to Invest in Danaher guide.You can also try the Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Complementary Tools for Danaher Stock analysis
When running Danaher's price analysis, check to measure Danaher's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Danaher is operating at the current time. Most of Danaher's value examination focuses on studying past and present price action to predict the probability of Danaher's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Danaher's price. Additionally, you may evaluate how the addition of Danaher to your portfolios can decrease your overall portfolio volatility.
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |