Guardant Health Correlations
| GH Stock | USD 18.88 0.30 1.61% |
The correlation of Guardant Health 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 Guardant Health moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Guardant Health 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.
Weak diversification
The correlation between Guardant Health and NYA is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guardant Health and NYA in the same portfolio, assuming nothing else is changed.
Guardant |
The ability to find closely correlated positions to Guardant Health could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guardant Health 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 Guardant Health - 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 Guardant Health to buy it.
Moving together with Guardant Stock
| 0.7 | OM | Outset MedicalInc | PairCorr |
| 0.67 | MDT | Medtronic PLC Financial Report 23rd of May 2024 | PairCorr |
| 0.81 | PEN | Penumbra Financial Report 7th of May 2024 | PairCorr |
| 0.74 | INMD | InMode Financial Report 7th of May 2024 | PairCorr |
| 0.78 | INNV | InnovAge Holding Corp Financial Report 14th of May 2024 | PairCorr |
Moving against Guardant Stock
| 0.65 | HIMS | Hims Hers Health Financial Report 13th of May 2024 | PairCorr |
| 0.59 | DXCM | DexCom Inc | PairCorr |
| 0.59 | EHC | Encompass Health Corp | PairCorr |
| 0.57 | BSX | Boston Scientific Corp | PairCorr |
| 0.49 | VTAK | Catheter Precision Symbol Change | PairCorr |
| 0.46 | SEM | Select Medical Holdings | PairCorr |
Related Correlations Analysis
| 0.72 | 0.85 | -0.11 | -0.09 | 0.45 | ILMN | ||
| 0.72 | 0.83 | -0.14 | 0.01 | 0.62 | TWST | ||
| 0.85 | 0.83 | 0.02 | 0.04 | 0.57 | MYGN | ||
| -0.11 | -0.14 | 0.02 | 0.88 | 0.41 | A | ||
| -0.09 | 0.01 | 0.04 | 0.88 | 0.64 | TMO | ||
| 0.45 | 0.62 | 0.57 | 0.41 | 0.64 | DHR | ||
| 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
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Risk-Adjusted Indicators
There is a big difference between Guardant Stock performing well and Guardant Health 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 Guardant Health'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ILMN | 1.85 | (0.42) | 0.00 | (0.14) | 0.00 | 3.50 | 9.89 | |||
| TWST | 3.24 | 0.20 | 0.12 | 0.12 | 3.14 | 6.96 | 18.88 | |||
| MYGN | 1.98 | (0.26) | 0.00 | (0.05) | 0.00 | 4.77 | 17.90 | |||
| A | 1.22 | 0.01 | 0.03 | 0.08 | 1.29 | 2.29 | 6.31 | |||
| TMO | 0.87 | 0.00 | 0.02 | 0.07 | 0.90 | 1.80 | 6.20 | |||
| DHR | 0.89 | (0.03) | (0.02) | 0.04 | 1.03 | 2.17 | 9.05 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Guardant Health 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?
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Guardant Health Corporate Management
Elected by the shareholders, the Guardant Health's board of directors comprises two types of representatives: Guardant Health inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Guardant. The board's role is to monitor Guardant Health's management team and ensure that shareholders' interests are well served. Guardant Health'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, Guardant Health's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Jennifer Higgins | Vice Affairs | Profile | |
| Terilyn Monroe | Chief Officer | Profile | |
| Craig MD | Chief Officer | Profile | |
| Andy Ament | VP Operations | Profile | |
| Kumud Kalia | Chief Officer | Profile |
Already Invested in Guardant Health?
The danger of trading Guardant Health 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 Guardant Health 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 Guardant Health. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Guardant Health 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 Guardant Health offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Guardant Health's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Guardant Health Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Guardant Health Stock: Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Guardant Health. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in rate. For more detail on how to invest in Guardant Stock please use our How to Invest in Guardant Health guide.Note that the Guardant Health information on this page should be used as a complementary analysis to other Guardant Health's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
Complementary Tools for Guardant Stock analysis
When running Guardant Health's price analysis, check to measure Guardant Health'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 Guardant Health is operating at the current time. Most of Guardant Health's value examination focuses on studying past and present price action to predict the probability of Guardant Health's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Guardant Health's price. Additionally, you may evaluate how the addition of Guardant Health to your portfolios can decrease your overall portfolio volatility.
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Is Guardant Health's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Guardant Health. If investors know Guardant will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Guardant Health listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (4.28) | Revenue Per Share 5.036 | Quarterly Revenue Growth 0.222 | Return On Assets (0.18) | Return On Equity (4.38) |
The market value of Guardant Health is measured differently than its book value, which is the value of Guardant that is recorded on the company's balance sheet. Investors also form their own opinion of Guardant Health's value that differs from its market value or its book value, called intrinsic value, which is Guardant Health's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Guardant Health's market value can be influenced by many factors that don't directly affect Guardant Health's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Guardant Health's value and its price as these two are different measures arrived at by different means. Investors typically determine if Guardant Health is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Guardant Health's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.