GE HealthCare Correlations

GEHC Stock

75.96 0.28 0.37%

The current 90-days correlation between GE HealthCare Techno and Veeva Systems Class is 0.28 (i.e., Modest diversification). The correlation of GE HealthCare 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.

GE HealthCare Correlation With Market

Poor diversification

The correlation between GE HealthCare Technologies and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GE HealthCare Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with GEHC Stock

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

Moving together with GEHC Stock

0.87	DH	Definitive Healthcare	Pair Corr
0.78	EW	Edwards Lifesciences Corp Earnings Call This Week	Pair Corr
0.83	LH	Laboratory Earnings Call This Week	Pair Corr
0.81	OM	Outset Medical	Pair Corr
0.64	DOCS	Doximity	Pair Corr
0.76	VEEV	Veeva Systems Class	Pair Corr
0.79	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.72	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.81	FIGS	Figs Inc	Pair Corr
0.75	MDAI	Spectral AI	Pair Corr

Moving against GEHC Stock

0.56	CI	Cigna Corp	Pair Corr
0.36	VERO	Venus Concept	Pair Corr
0.36	DRIO	DarioHealth Corp	Pair Corr
0.73	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.68	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.62	ELMD	Electromed	Pair Corr
0.61	EKSO	Ekso Bionics Holdings	Pair Corr
0.55	ELAB	Elevai Labs, Common	Pair Corr
0.48	ICCM	Icecure Medical	Pair Corr
0.43	EMBC	Embecta Corp	Pair Corr
0.81	NAOV	NanoVibronix	Pair Corr
0.76	MNDR	Mobile health Network	Pair Corr
0.72	NXLIW	Nexalin Technology	Pair Corr
0.71	NXGLW	NexGel Warrant	Pair Corr
0.68	MXCT	MaxCyte	Pair Corr
0.6	MLSS	Milestone Scientific	Pair Corr

Related Correlations Analysis

	TDOC	VEEV	TXG	PGNY	SDGR	DOCS	AMWL	GDRX
TDOC		0.54	0.83	0.34	-0.47	0.7	0.75	0.67	TDOC
VEEV	0.54		0.82	-0.06	-0.62	0.49	0.22	0.28	VEEV
TXG	0.83	0.82		0.13	-0.67	0.69	0.6	0.58	TXG
PGNY	0.34	-0.06	0.13		0.24	0.48	0.36	0.36	PGNY
SDGR	-0.47	-0.62	-0.67	0.24		-0.23	-0.3	-0.09	SDGR
DOCS	0.7	0.49	0.69	0.48	-0.23		0.44	0.69	DOCS
AMWL	0.75	0.22	0.6	0.36	-0.3	0.44		0.51	AMWL
GDRX	0.67	0.28	0.58	0.36	-0.09	0.69	0.51		GDRX
	TDOC	VEEV	TXG	PGNY	SDGR	DOCS	AMWL	GDRX

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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

TXG	+ 0.83	TDOC
TXG	+ 0.82	VEEV
AMWL	+ 0.75	TDOC
DOCS	+ 0.7	TDOC
DOCS	+ 0.69	TXG
GDRX	+ 0.69	DOCS

High negative correlations

SDGR	- 0.67	TXG
SDGR	- 0.62	VEEV
SDGR	- 0.47	TDOC
AMWL	- 0.3	SDGR
DOCS	- 0.23	SDGR
GDRX	- 0.09	SDGR

Risk-Adjusted Indicators

There is a big difference between GEHC Stock performing well and GE HealthCare 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 GE HealthCare'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
TDOC	2.57	(0.09)	0.03	0.09	2.68	(2.95)	5.45	(5.04)	19.91
VEEV	1.46	0.25	0.19	0.39	1.02	(1.81)	2.60	(2.13)	21.21
TXG	2.88	0.40	0.13	0.35	3.39	(3.13)	7.07	(5.92)	16.59
PGNY	1.71	(0.10)	(0.04)	0.02	2.57	(1.69)	2.63	(3.59)	15.17
SDGR	2.24	(0.39)	0.00	(0.32)	0.00	0.00	3.62	(6.17)	20.00
DOCS	1.89	0.11	0.03	0.25	2.85	(1.74)	3.90	(4.25)	13.89
AMWL	3.19	0.32	0.04	(1.75)	3.79	(3.80)	8.32	(6.09)	26.82
GDRX	2.33	(0.01)	0.00	0.12	3.57	(2.33)	5.24	(6.09)	18.79

GE HealthCare Corporate Executives

Elected by the shareholders, the GE HealthCare's board of directors comprises two types of representatives: GE HealthCare inside directors who are chosen from within the company, and outside directors, selected externally and held independent of GEHC. The board's role is to monitor GE HealthCare's management team and ensure that shareholders' interests are well served. GE HealthCare's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, GE HealthCare's outside directors are responsible for providing unbiased perspectives on the board's policies.

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