Avantor Correlations

AVTR Stock

USD 9.03 0.18 1.95%

The current 90-days correlation between Avantor and Masimo is 0.05 (i.e., Significant diversification). The correlation of Avantor 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.

Avantor Correlation With Market

Good diversification

The correlation between Avantor and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avantor and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Avantor Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Avantor. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

To learn how to invest in Avantor Stock, please use our How to Invest in Avantor guide.

Moving together with Avantor Stock

0.69	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.83	BIO	Bio Rad Laboratories	Pair Corr
0.7	CRL	Charles River Labora	Pair Corr
0.61	FTRE	Fortrea Holdings Sell-off Trend	Pair Corr
0.88	IQV	IQVIA Holdings	Pair Corr
0.67	LAB	Standard Biotools	Pair Corr
0.76	MTD	Mettler Toledo Inter	Pair Corr
0.9	TMO	Thermo Fisher Scientific	Pair Corr
0.83	WAT	Waters	Pair Corr
0.85	ICLR	ICON PLC Earnings Call This Week	Pair Corr
0.67	ILMN	Illumina	Pair Corr
0.88	MEDP	Medpace Holdings	Pair Corr
0.8	MRVI	Maravai Lifesciences Earnings Call This Week	Pair Corr
0.66	NAGE	Niagen Bioscience Symbol Change	Pair Corr
0.76	IXI	IXICO PLC	Pair Corr
0.62	PIQ	Proteomics International Earnings Call This Week	Pair Corr
0.75	ADO	Anteotech Earnings Call This Week	Pair Corr

Moving against Avantor Stock

0.63	CTE	Cryosite	Pair Corr
0.38	MLAB	Mesa Laboratories	Pair Corr
0.35	OBD	Oxford Biodynamics PLC	Pair Corr
0.64	GNFT	Genfit SA	Pair Corr

Related Correlations Analysis

	MASI	ATR	RGEN	BAX	BIO	HSIC	STVN	MOH	GRFS
MASI		0.43	-0.37	0.19	-0.39	-0.05	-0.14	-0.27	0.07	MASI
ATR	0.43		-0.57	0.7	-0.7	0.56	-0.69	-0.36	0.56	ATR
RGEN	-0.37	-0.57		-0.29	0.67	0.04	0.62	0.53	-0.21	RGEN
BAX	0.19	0.7	-0.29		-0.37	0.74	-0.67	0.11	0.74	BAX
BIO	-0.39	-0.7	0.67	-0.37		-0.26	0.73	0.24	-0.49	BIO
HSIC	-0.05	0.56	0.04	0.74	-0.26		-0.43	0.2	0.61	HSIC
STVN	-0.14	-0.69	0.62	-0.67	0.73	-0.43		-0.04	-0.65	STVN
MOH	-0.27	-0.36	0.53	0.11	0.24	0.2	-0.04		0.25	MOH
GRFS	0.07	0.56	-0.21	0.74	-0.49	0.61	-0.65	0.25		GRFS
	MASI	ATR	RGEN	BAX	BIO	HSIC	STVN	MOH	GRFS

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

HSIC	+ 0.74	BAX
GRFS	+ 0.74	BAX
STVN	+ 0.73	BIO
BAX	+ 0.7	ATR
BIO	+ 0.67	RGEN
STVN	+ 0.62	RGEN

High negative correlations

BIO	- 0.7	ATR
STVN	- 0.69	ATR
STVN	- 0.67	BAX
GRFS	- 0.65	STVN
RGEN	- 0.57	ATR
GRFS	- 0.49	BIO

Risk-Adjusted Indicators

There is a big difference between Avantor Stock performing well and Avantor 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 Avantor'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	2.09	0.25	0.13	0.40	1.70	(2.78)	4.37	(2.71)	34.38
ATR	1.09	0.25	0.18	0.32	1.09	(1.31)	2.93	(1.51)	8.98
RGEN	1.46	(0.32)	0.00	1.48	0.00	0.00	2.87	(3.33)	8.92
BAX	1.94	0.16	0.05	0.17	3.21	(2.01)	5.11	(3.63)	21.61
BIO	1.38	(0.27)	0.00	(0.21)	0.00	0.00	3.02	(2.83)	17.85
HSIC	1.25	0.09	0.06	0.16	1.40	(1.38)	2.90	(2.33)	7.52
STVN	2.40	(0.61)	0.00	(0.18)	0.00	0.00	4.69	(5.60)	15.63
MOH	2.24	0.27	0.03	(0.33)	5.44	(2.03)	4.39	(3.38)	30.76
GRFS	1.45	0.07	0.03	0.16	1.76	(1.50)	3.23	(3.28)	8.28

Avantor Corporate Management

Joseph Massaro	Independent Director	Profile
Christophe MBA	Executive AMEA	Profile
Lan Kang	Independent Director	Profile
Tanya Foxe	Executive Vice President - Global Operations and Supply Chain	Profile

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