Azenta Correlations

AZTA Stock

USD 44.65 3.74 9.14%

The current 90-days correlation between Azenta Inc and AtriCure is 0.04 (i.e., Significant diversification). The correlation of Azenta 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.

Azenta Correlation With Market

Modest diversification

The correlation between Azenta Inc and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Azenta Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Azenta Stock

0.69	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.78	ME	23Andme Holding	Pair Corr
0.63	ERNA	Eterna Therapeutics	Pair Corr
0.78	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.71	GMAB	Genmab AS	Pair Corr
0.76	IPSC	Century Therapeutics	Pair Corr
0.67	LEGN	Legend Biotech Corp	Pair Corr

Moving against Azenta Stock

0.68	EWTX	Edgewise Therapeutics	Pair Corr
0.64	BMY	Bristol Myers Squibb	Pair Corr
0.59	EXEL	Exelixis	Pair Corr
0.56	KTTAW	Pasithea Therapeutics	Pair Corr
0.44	FLGC	Flora Growth Corp	Pair Corr
0.41	VRDN	Viridian Therapeutics	Pair Corr
0.31	HCM	HUTCHMED DRC	Pair Corr
0.67	LPCN	Lipocine	Pair Corr
0.61	GILD	Gilead Sciences	Pair Corr
0.57	KZR	Kezar Life Sciences	Pair Corr

Related Correlations Analysis

	AKYA	ATRC	ICUI	HAE	MMSI	ANGO	ATR	NVST	HOLX	COO
AKYA		0.22	0.74	0.08	-0.02	-0.32	0.47	0.17	0.15	0.39	AKYA
ATRC	0.22		0.24	0.67	0.82	-0.17	0.83	0.85	-0.39	-0.16	ATRC
ICUI	0.74	0.24		0.1	0.16	-0.35	0.48	0.24	0.06	0.61	ICUI
HAE	0.08	0.67	0.1		0.72	0.04	0.53	0.64	-0.64	-0.34	HAE
MMSI	-0.02	0.82	0.16	0.72		0.09	0.54	0.75	-0.36	0.0	MMSI
ANGO	-0.32	-0.17	-0.35	0.04	0.09		-0.45	0.04	0.16	-0.02	ANGO
ATR	0.47	0.83	0.48	0.53	0.54	-0.45		0.69	-0.31	-0.05	ATR
NVST	0.17	0.85	0.24	0.64	0.75	0.04	0.69		-0.33	-0.17	NVST
HOLX	0.15	-0.39	0.06	-0.64	-0.36	0.16	-0.31	-0.33		0.51	HOLX
COO	0.39	-0.16	0.61	-0.34	0.0	-0.02	-0.05	-0.17	0.51		COO
	AKYA	ATRC	ICUI	HAE	MMSI	ANGO	ATR	NVST	HOLX	COO

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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

NVST	+ 0.85	ATRC
ATR	+ 0.83	ATRC
MMSI	+ 0.82	ATRC
NVST	+ 0.75	MMSI
ICUI	+ 0.74	AKYA
MMSI	+ 0.72	HAE

High negative correlations

HOLX	- 0.64	HAE
ATR	- 0.45	ANGO
HOLX	- 0.39	ATRC
HOLX	- 0.36	MMSI
ANGO	- 0.35	ICUI
COO	- 0.34	HAE

Risk-Adjusted Indicators

There is a big difference between Azenta Stock performing well and Azenta 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 Azenta'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
AKYA	3.99	(0.29)	0.00	(0.01)	0.00	0.00	9.32	(4.96)	40.94
ATRC	1.93	0.51	0.28	0.51	1.41	(2.32)	4.67	(3.12)	23.09
ICUI	1.22	(0.01)	0.01	0.09	1.32	(1.30)	2.87	(2.38)	7.25
HAE	1.44	0.10	0.07	0.21	1.37	(1.69)	4.24	(2.10)	14.50
MMSI	0.88	0.15	0.10	0.37	0.71	(0.95)	2.11	(1.23)	6.42
ANGO	2.12	(0.07)	0.00	0.20	0.00	0.00	3.71	(4.03)	19.00
ATR	0.71	0.13	0.08	0.31	0.88	(0.75)	1.47	(1.37)	7.86
NVST	1.84	0.23	0.06	(1.73)	1.76	(2.19)	3.96	(2.68)	13.77
HOLX	0.88	0.01	0.00	0.08	0.00	0.00	1.81	(1.79)	8.14
COO	0.87	0.07	0.00	0.30	0.87	(0.94)	1.39	(1.64)	13.98

Azenta Corporate Management

Jason JD	General VP	Profile
Luc Provost	VP Systems	Profile
Vandana Sriram	Corp Fin	Profile
Kimberly Crowley	VP Officer	Profile
Robin Vacha	Senior Operations	Profile
Sara Silverman	Head Communications	Profile
John OBrien	Senior Development	Profile

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