Baxter International Correlations

BAX Stock

USD 22.27 0.33 1.50%

The current 90-days correlation between Baxter International and Masimo is 0.34 (i.e., Weak diversification). The correlation of Baxter International 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.

Baxter International Correlation With Market

Very poor diversification

The correlation between Baxter International and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baxter International and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Baxter Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Baxter International. 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 more information on how to buy Baxter Stock please use our How to Invest in Baxter International guide.

Moving together with Baxter Stock

0.74	QIPT	Quipt Home Medical	Pair Corr
0.87	VMD	Viemed Healthcare	Pair Corr
0.69	4DX	4DMEDICAL	Pair Corr
0.76	TLT	Theralase Technologies	Pair Corr
0.75	CREO	Creo Medical Group	Pair Corr
0.72	IMR	Imricor Medical Systems	Pair Corr
0.61	FPH	Fisher Paykel Healthcare Earnings Call Today	Pair Corr
0.67	EYE	Nova EYE Medical	Pair Corr
0.85	AFW	Align Technology	Pair Corr
0.71	AFME	Affluent Medical SAS	Pair Corr

Moving against Baxter Stock

0.75	OTC	Ocumetics Technology Corp	Pair Corr
0.71	AHC	Austco Healthcare	Pair Corr
0.67	NTI	Neurotech International	Pair Corr
0.59	IVF	INVO Fertility Symbol Change	Pair Corr
0.56	IHC	Inspiration Healthcare	Pair Corr
0.47	HAE	Haemonetics	Pair Corr
0.42	2DR	Inspire Medical Systems	Pair Corr
0.4	RHT	Resonance Health	Pair Corr
0.34	XTNT	Xtant Medical Holdings	Pair Corr
0.67	MLSS	Milestone Scientific	Pair Corr
0.6	TNONW	Tenon Medical Warrant	Pair Corr
0.56	NGMD	NuGen Medical Devices	Pair Corr
0.46	NVNO	enVVeno Medical Corp	Pair Corr
0.44	NSPR	InspireMD	Pair Corr
0.33	MBOT	Microbot Medical	Pair Corr
0.33	MMSI	Merit Medical Systems	Pair Corr

Related Correlations Analysis

	MASI	MDGL	ATR	RGEN	RNA	AVTR	DVA	HIMS	BIO	QGEN
MASI		-0.11	-0.34	-0.11	-0.59	0.09	0.04	0.36	0.36	-0.09	MASI
MDGL	-0.11		-0.4	0.63	-0.27	0.0	-0.19	0.62	0.36	-0.65	MDGL
ATR	-0.34	-0.4		-0.28	0.7	-0.14	0.4	-0.86	-0.31	0.6	ATR
RGEN	-0.11	0.63	-0.28		0.13	0.58	-0.66	0.43	0.57	-0.09	RGEN
RNA	-0.59	-0.27	0.7	0.13		0.09	-0.03	-0.76	-0.28	0.72	RNA
AVTR	0.09	0.0	-0.14	0.58	0.09		-0.52	0.19	0.61	0.09	AVTR
DVA	0.04	-0.19	0.4	-0.66	-0.03	-0.52		-0.35	-0.19	-0.06	DVA
HIMS	0.36	0.62	-0.86	0.43	-0.76	0.19	-0.35		0.51	-0.74	HIMS
BIO	0.36	0.36	-0.31	0.57	-0.28	0.61	-0.19	0.51		-0.31	BIO
QGEN	-0.09	-0.65	0.6	-0.09	0.72	0.09	-0.06	-0.74	-0.31		QGEN
	MASI	MDGL	ATR	RGEN	RNA	AVTR	DVA	HIMS	BIO	QGEN

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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

QGEN	+ 0.72	RNA
RNA	+ 0.7	ATR
RGEN	+ 0.63	MDGL
HIMS	+ 0.62	MDGL
BIO	+ 0.61	AVTR
QGEN	+ 0.6	ATR

High negative correlations

HIMS	- 0.86	ATR
HIMS	- 0.76	RNA
QGEN	- 0.74	HIMS
DVA	- 0.66	RGEN
QGEN	- 0.65	MDGL
RNA	- 0.59	MASI

Risk-Adjusted Indicators

There is a big difference between Baxter Stock performing well and Baxter International 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 Baxter International'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	1.57	(0.15)	0.00	(0.12)	0.00	0.00	3.02	(2.71)	10.00
MDGL	1.89	(0.08)	(0.04)	0.00	2.26	(2.17)	4.57	(3.26)	16.78
ATR	1.11	0.21	0.15	0.33	1.08	(1.33)	2.93	(1.51)	8.15
RGEN	1.68	(0.19)	0.00	(0.03)	0.00	0.00	3.10	(3.33)	10.06
RNA	0.17	0.05	(0.17)	0.53	0.00	(0.20)	0.38	(0.29)	1.75
AVTR	1.82	(0.35)	0.00	(0.15)	0.00	0.00	3.75	(3.59)	13.43
DVA	1.81	0.28	0.11	1.58	1.62	(2.42)	4.25	(3.23)	26.79
HIMS	2.99	(1.40)	0.00	(1.22)	0.00	0.00	4.19	(7.61)	24.87
BIO	1.29	(0.17)	0.00	(0.05)	0.00	0.00	3.02	(2.83)	8.43
QGEN	1.35	0.40	0.23	(0.72)	0.86	(1.94)	2.86	(2.44)	19.34

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