Guardant Health Correlations

GH Stock

USD 69.58 1.27 1.79%

The current 90-days correlation between Guardant Health and Masimo is 0.15 (i.e., Average diversification). 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Guardant Health Correlation With Market

Average diversification

The correlation between Guardant Health and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guardant Health and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Guardant 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 closely tied with the direction of predictive economic indicators such as signals in census.

For more detail on how to invest in Guardant Stock please use our How to Invest in Guardant Health guide.

Moving together with Guardant Stock

0.88	MD	Mednax Inc Earnings Call Tomorrow	Pair Corr
0.65	CNC	Centene Corp Earnings Call Today	Pair Corr
0.8	SNPHF	Santen Pharmaceutical	Pair Corr
0.75	SZKMF	Suzuki Motor	Pair Corr
0.71	BKKPF	Bangkok Bank Public	Pair Corr
0.79	MALRF	Mineral Resources	Pair Corr
0.68	PZG	Paramount Gold Nevada	Pair Corr
0.78	HLIO	Helios Technologies	Pair Corr

Moving against Guardant Stock

0.71	PHSC	PHSC PLC	Pair Corr
0.54	SBC	SBC Communications	Pair Corr

Related Correlations Analysis

	MASI	CRL	JAZZ	MRUS	BIO	GMED	HSIC	ABVX	CYTK	HALO
MASI		0.34	-0.34	0.02	-0.17	-0.2	0.04	-0.34	-0.22	-0.72	MASI
CRL	0.34		0.53	0.66	0.67	0.32	-0.48	0.44	0.46	-0.44	CRL
JAZZ	-0.34	0.53		0.79	0.75	0.41	-0.54	0.89	0.92	0.34	JAZZ
MRUS	0.02	0.66	0.79		0.69	0.28	-0.8	0.73	0.84	-0.17	MRUS
BIO	-0.17	0.67	0.75	0.69		0.72	-0.58	0.71	0.64	0.08	BIO
GMED	-0.2	0.32	0.41	0.28	0.72		-0.16	0.34	0.25	0.22	GMED
HSIC	0.04	-0.48	-0.54	-0.8	-0.58	-0.16		-0.62	-0.67	0.29	HSIC
ABVX	-0.34	0.44	0.89	0.73	0.71	0.34	-0.62		0.91	0.31	ABVX
CYTK	-0.22	0.46	0.92	0.84	0.64	0.25	-0.67	0.91		0.22	CYTK
HALO	-0.72	-0.44	0.34	-0.17	0.08	0.22	0.29	0.31	0.22		HALO
	MASI	CRL	JAZZ	MRUS	BIO	GMED	HSIC	ABVX	CYTK	HALO

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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

CYTK	+ 0.92	JAZZ
CYTK	+ 0.91	ABVX
ABVX	+ 0.89	JAZZ
CYTK	+ 0.84	MRUS
MRUS	+ 0.79	JAZZ
BIO	+ 0.75	JAZZ

High negative correlations

HSIC	- 0.8	MRUS
HALO	- 0.72	MASI
CYTK	- 0.67	HSIC
ABVX	- 0.62	HSIC
HSIC	- 0.58	BIO
HSIC	- 0.54	JAZZ

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
MASI	1.62	(0.26)	0.00	(0.10)	0.00	0.00	3.23	(3.40)	16.49
CRL	1.86	(0.05)	0.01	0.06	2.53	(2.02)	4.22	(3.72)	11.93
JAZZ	1.27	0.22	0.10	0.64	1.52	(1.42)	2.37	(2.20)	8.61
MRUS	1.70	0.57	0.35	0.75	0.86	(2.03)	3.45	(2.59)	36.44
BIO	1.96	0.39	0.21	0.73	1.36	(2.55)	4.51	(2.89)	21.72
GMED	1.57	0.08	0.08	0.13	1.59	(1.79)	3.36	(2.56)	13.57
HSIC	1.19	(0.27)	0.00	(0.12)	0.00	0.00	2.30	(2.43)	10.41
ABVX	1.73	0.53	0.26	7.36	1.35	(2.04)	4.25	(2.81)	9.03
CYTK	3.03	0.91	0.32	4.03	2.13	(3.90)	6.55	(4.42)	46.56
HALO	1.22	0.15	0.06	0.36	1.50	(1.32)	2.29	(2.49)	6.98

Guardant Health Corporate Management

Jennifer Higgins	Senior Affairs	Profile
Stephen Murphy	Senior Marketing	Profile
Gulshan JD	Senior Officer	Profile
John Saia	Chief Secretary	Profile
Christopher Freeman	Chief Oncology	Profile
John JD	Chief Secretary	Profile

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