Haemonetics Correlations

HAE Stock

USD 76.24 0.08 0.10%

The current 90-days correlation between Haemonetics and National Vision Holdings is 0.57 (i.e., Very weak diversification). The correlation of Haemonetics 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.

Haemonetics Correlation With Market

Good diversification

The correlation between Haemonetics and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Haemonetics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Haemonetics Stock

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

For information on how to trade Haemonetics Stock refer to our How to Trade Haemonetics Stock guide.

Moving together with Haemonetics Stock

0.95	DH	Definitive Healthcare	Pair Corr
0.88	FIGS	Figs Inc	Pair Corr
0.91	CAH	Cardinal Health	Pair Corr
0.82	XTNT	Xtant Medical Holdings	Pair Corr
0.77	HIMS	Hims Hers Health Aggressive Push	Pair Corr
0.73	MASS	908 Devices	Pair Corr
0.68	MODV	ModivCare	Pair Corr
0.9	NVNO	enVVeno Medical Corp	Pair Corr
0.7	NYXH	Nyxoah	Pair Corr
0.78	RDNT	RadNet Inc	Pair Corr
0.88	ADUS	Addus HomeCare	Pair Corr
0.82	SNDA	Sonida Senior Living	Pair Corr
0.73	STRM	Streamline Health	Pair Corr
0.85	DRTS	Alpha Tau Medical	Pair Corr

Moving against Haemonetics Stock

0.74	MOH	Molina Healthcare	Pair Corr
0.68	NUWE	Nuwellis	Pair Corr
0.67	XAIR	Beyond Air	Pair Corr
0.66	CNC	Centene Corp	Pair Corr
0.64	GCTK	GlucoTrack	Pair Corr
0.63	TFX	Teleflex Incorporated	Pair Corr
0.57	LNSR	LENSAR Inc	Pair Corr
0.54	ECOR	Electrocore LLC Upward Rally	Pair Corr
0.89	ALHC	Alignment Healthcare LLC	Pair Corr
0.81	DYAI	Dyadic International	Pair Corr
0.7	VALN	Valneva SE ADR	Pair Corr
0.56	TMCI	Treace Medical Concepts	Pair Corr
0.55	BMGL	Basel Medical Group	Pair Corr
0.5	OGN	Organon	Pair Corr
0.48	BMY	Bristol Myers Squibb Sell-off Trend	Pair Corr
0.44	CTKB	Cytek Biosciences	Pair Corr
0.37	ERNA	Eterna Therapeutics	Pair Corr

Related Correlations Analysis

	CTYMF	GTCDF	EYE	FSTR	GRMC	LOMLF
CTYMF		0.0	0.34	-0.31	0.0	0.45	CTYMF
GTCDF	0.0		0.0	0.0	1.0	0.0	GTCDF
EYE	0.34	0.0		0.28	0.0	0.31	EYE
FSTR	-0.31	0.0	0.28		0.0	0.25	FSTR
GRMC	0.0	1.0	0.0	0.0		0.0	GRMC
LOMLF	0.45	0.0	0.31	0.25	0.0		LOMLF
	CTYMF	GTCDF	EYE	FSTR	GRMC	LOMLF

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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

GRMC	+ 1.0	GTCDF
LOMLF	+ 0.45	CTYMF
EYE	+ 0.34	CTYMF
LOMLF	+ 0.31	EYE
FSTR	+ 0.28	EYE
LOMLF	+ 0.25	FSTR

High negative correlations

FSTR	- 0.31	CTYMF
LOMLF	- 0.0	GRMC
GRMC	- 0.0	FSTR
GRMC	- 0.0	EYE
LOMLF	- 0.0	GTCDF
FSTR	- 0.0	GTCDF

Risk-Adjusted Indicators

There is a big difference between Haemonetics Stock performing well and Haemonetics 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 Haemonetics' 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
CTYMF	3.12	0.29	0.03	(2.53)	3.77	(4.57)	6.06	(8.16)	27.56
GTCDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EYE	2.31	1.02	0.28	69.45	2.12	(2.58)	6.97	(3.77)	20.87
FSTR	1.88	0.28	0.06	(1.39)	2.59	(1.99)	4.35	(3.94)	18.32
GRMC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LOMLF	2.66	(0.01)	(0.02)	0.03	3.25	(5.87)	5.56	(4.76)	19.62

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