Hologic Correlations

HOLX Stock

USD 75.02 0.17 0.23%

The current 90-days correlation between Hologic and The Cooper Companies, is 0.06 (i.e., Significant diversification). The correlation of Hologic 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Hologic Correlation With Market

Average diversification

The correlation between Hologic and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hologic and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hologic Stock

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

For more information on how to buy Hologic Stock please use our How to Invest in Hologic guide.

Moving together with Hologic Stock

0.74	RHT	Resonance Health	Pair Corr
0.75	PRN	Profound Medical Corp	Pair Corr
0.68	ALGN	Align Technology	Pair Corr
0.82	CUB	Lionheart Holdings	Pair Corr
0.7	CTSH	Cognizant Technology	Pair Corr
0.83	MKSI	MKS Instruments	Pair Corr
0.83	COPL	Copley Acquisition Corp	Pair Corr
0.9	AAPL	Apple Inc	Pair Corr
0.78	DNUT	Krispy Kreme	Pair Corr
0.72	SBKFF	State Bank	Pair Corr
0.65	DRXGF	Drax Group plc	Pair Corr
0.66	MTC	MMTEC Inc Tech Boost	Pair Corr

Moving against Hologic Stock

0.8	ABT	Abbott Laboratories	Pair Corr
0.76	MDX	MedX Health Corp	Pair Corr
0.74	EYE	Nova EYE Medical	Pair Corr
0.71	NGMD	NuGen Medical Devices	Pair Corr
0.71	SMLR	Semler Scientific	Pair Corr
0.68	TMCI	Treace Medical Concepts	Pair Corr
0.64	OTC	Ocumetics Technology Corp	Pair Corr
0.64	CSX	Cleanspace Holdings	Pair Corr
0.56	EMV	Emvision Medical Devices	Pair Corr
0.53	KIDS	Orthopediatrics Corp	Pair Corr
0.49	PINK	Perimeter Medical Imaging	Pair Corr
0.44	QIPT	Quipt Home Medical	Pair Corr
0.39	IMR	Imricor Medical Systems	Pair Corr
0.78	KG	Kestrel Group, Symbol Change	Pair Corr
0.4	TRVN	Trevena	Pair Corr

Related Correlations Analysis

	COO	SNN	MEDP	WST	ILMN	FMS	RPRX	CNC	TEM	THC
COO		-0.61	0.49	0.43	0.72	-0.47	0.64	0.73	-0.43	0.49	COO
SNN	-0.61		-0.49	0.02	-0.76	0.81	-0.74	-0.62	0.82	-0.14	SNN
MEDP	0.49	-0.49		0.68	0.65	-0.4	0.81	0.4	-0.47	0.54	MEDP
WST	0.43	0.02	0.68		0.26	0.11	0.41	0.29	0.05	0.72	WST
ILMN	0.72	-0.76	0.65	0.26		-0.84	0.87	0.6	-0.72	0.3	ILMN
FMS	-0.47	0.81	-0.4	0.11	-0.84		-0.73	-0.37	0.88	-0.01	FMS
RPRX	0.64	-0.74	0.81	0.41	0.87	-0.73		0.56	-0.69	0.45	RPRX
CNC	0.73	-0.62	0.4	0.29	0.6	-0.37	0.56		-0.3	0.5	CNC
TEM	-0.43	0.82	-0.47	0.05	-0.72	0.88	-0.69	-0.3		-0.03	TEM
THC	0.49	-0.14	0.54	0.72	0.3	-0.01	0.45	0.5	-0.03		THC
	COO	SNN	MEDP	WST	ILMN	FMS	RPRX	CNC	TEM	THC

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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

TEM	+ 0.88	FMS
RPRX	+ 0.87	ILMN
TEM	+ 0.82	SNN
FMS	+ 0.81	SNN
RPRX	+ 0.81	MEDP
CNC	+ 0.73	COO

High negative correlations

FMS	- 0.84	ILMN
ILMN	- 0.76	SNN
RPRX	- 0.74	SNN
RPRX	- 0.73	FMS
TEM	- 0.72	ILMN
TEM	- 0.69	RPRX

Risk-Adjusted Indicators

There is a big difference between Hologic Stock performing well and Hologic 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 Hologic'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
COO	1.46	0.23	0.16	0.28	1.27	(1.75)	4.20	(2.14)	10.26
SNN	1.07	(0.29)	0.00	(0.24)	0.00	0.00	2.29	(1.83)	14.66
MEDP	1.44	0.14	0.08	0.21	1.50	(1.66)	4.51	(2.33)	14.62
WST	1.58	0.05	0.03	0.12	1.55	(1.93)	3.64	(2.89)	14.90
ILMN	2.31	0.50	0.24	0.49	1.73	(2.75)	4.77	(2.89)	27.65
FMS	1.07	(0.15)	0.00	(0.09)	0.00	0.00	2.21	(1.83)	10.37
RPRX	1.15	0.07	0.01	0.24	1.69	(1.11)	2.13	(2.42)	12.26
CNC	2.15	0.25	0.08	0.31	2.61	(2.23)	4.79	(4.61)	21.32
TEM	2.79	(0.44)	0.00	(0.14)	0.00	0.00	7.00	(4.95)	23.37
THC	1.64	(0.02)	(0.01)	0.06	2.08	(1.70)	3.15	(3.15)	14.05

Hologic Corporate Management

Mark Irving	VP Secretary	Profile
Paul Malenchini	Chief Officer	Profile
Peter Dunne	Senior Resources	Profile
Benjamin Cohn	Principal Chief Accounting Officer	Profile
Erik Anderson	Division Solutions	Profile
Kevin Thornal	Group Solutions	Profile

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