Henry Schein Correlations

HSIC Stock

USD 69.07 0.03 0.04%

The current 90-days correlation between Henry Schein and Owens Minor is 0.27 (i.e., Modest diversification). The correlation of Henry Schein 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.

Henry Schein Correlation With Market

Very weak diversification

The correlation between Henry Schein and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Henry Schein and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Henry Stock

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

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

Moving together with Henry Stock

0.81	DH	Definitive Healthcare	Pair Corr
0.67	EW	Edwards Lifesciences Corp Earnings Call Today	Pair Corr
0.8	LH	Laboratory Earnings Call This Week	Pair Corr
0.92	OM	Outset Medical	Pair Corr
0.67	VEEV	Veeva Systems Class	Pair Corr
0.8	DXCM	DexCom Inc Earnings Call Tomorrow	Pair Corr
0.87	ENSG	Ensign Group Earnings Call Tomorrow	Pair Corr
0.67	FIGS	Figs Inc	Pair Corr
0.65	MDAI	Spectral AI	Pair Corr

Moving against Henry Stock

0.74	EKSO	Ekso Bionics Holdings Earnings Call This Week	Pair Corr
0.65	ICCM	Icecure Medical	Pair Corr
0.53	ELMD	Electromed	Pair Corr
0.52	EMBC	Embecta Corp	Pair Corr
0.5	CI	Cigna Corp	Pair Corr
0.5	ELAB	Elevai Labs, Common	Pair Corr
0.45	ECOR	Electrocore LLC	Pair Corr
0.43	DRIO	DarioHealth Corp	Pair Corr
0.41	VERO	Venus Concept	Pair Corr
0.84	NAOV	NanoVibronix	Pair Corr
0.83	EQ	Equillium	Pair Corr
0.8	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.8	NXGLW	NexGel Warrant	Pair Corr
0.78	MXCT	MaxCyte	Pair Corr
0.76	VALN	Valneva SE ADR	Pair Corr
0.67	MNDR	Mobile health Network	Pair Corr
0.67	NXLIW	Nexalin Technology	Pair Corr
0.63	MSPRZ	MSP Recovery Symbol Change	Pair Corr

Related Correlations Analysis

	OMI	COR	CAH	MCK	XRAY	COO	UHS	HOLX
OMI		0.56	0.68	0.49	0.42	-0.38	-0.01	0.57	OMI
COR	0.56		0.74	0.87	0.35	-0.45	0.05	0.45	COR
CAH	0.68	0.74		0.8	0.77	-0.65	0.22	0.67	CAH
MCK	0.49	0.87	0.8		0.52	-0.56	0.19	0.49	MCK
XRAY	0.42	0.35	0.77	0.52		-0.41	0.52	0.52	XRAY
COO	-0.38	-0.45	-0.65	-0.56	-0.41		0.2	-0.81	COO
UHS	-0.01	0.05	0.22	0.19	0.52	0.2		-0.22	UHS
HOLX	0.57	0.45	0.67	0.49	0.52	-0.81	-0.22		HOLX
	OMI	COR	CAH	MCK	XRAY	COO	UHS	HOLX

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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

MCK	+ 0.87	COR
MCK	+ 0.8	CAH
XRAY	+ 0.77	CAH
CAH	+ 0.74	COR
CAH	+ 0.68	OMI
HOLX	+ 0.67	CAH

High negative correlations

HOLX	- 0.81	COO
COO	- 0.65	CAH
COO	- 0.56	MCK
COO	- 0.45	COR
COO	- 0.41	XRAY
COO	- 0.38	OMI

Risk-Adjusted Indicators

There is a big difference between Henry Stock performing well and Henry Schein 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 Henry Schein'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
OMI	3.07	0.09	0.04	0.19	3.50	(3.37)	6.48	(5.97)	20.24
COR	0.97	0.02	(0.06)	0.24	1.53	(0.97)	2.12	(1.64)	11.57
CAH	0.91	0.20	0.09	0.60	1.04	(0.94)	2.39	(1.84)	7.05
MCK	0.91	0.01	(0.07)	0.19	1.30	(0.89)	1.96	(1.74)	6.65
XRAY	1.71	0.35	0.08	(1.45)	1.75	(1.88)	4.16	(3.49)	21.58
COO	1.47	(0.23)	0.00	(0.13)	0.00	0.00	2.32	(2.52)	17.24
UHS	1.59	(0.25)	0.00	(0.02)	0.00	0.00	4.29	(3.55)	11.51
HOLX	1.41	0.15	0.00	(2.23)	1.60	(1.60)	2.48	(2.87)	16.64

Henry Schein Corporate Executives

Elected by the shareholders, the Henry Schein's board of directors comprises two types of representatives: Henry Schein inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Henry. The board's role is to monitor Henry Schein's management team and ensure that shareholders' interests are well served. Henry Schein'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, Henry Schein's outside directors are responsible for providing unbiased perspectives on the board's policies.

Ronald South

Senior CFO

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