Bausch Health Correlations

BHC Stock

USD 7.97 0.21 2.57%

The current 90-days correlation between Bausch Health Companies and Viatris is -0.01 (i.e., Good diversification). The correlation of Bausch Health 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.

Bausch Health Correlation With Market

Good diversification

The correlation between Bausch Health Companies and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bausch Health Companies 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 Bausch Health Companies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Bausch Stock

0.77	VRDN	Viridian Therapeutics	Pair Corr
0.82	EWTX	Edgewise Therapeutics	Pair Corr
0.66	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr
0.8	GILD	Gilead Sciences	Pair Corr

Moving against Bausch Stock

0.77	GMAB	Genmab AS	Pair Corr
0.72	VALN	Valneva SE ADR	Pair Corr
0.7	LEGN	Legend Biotech Corp	Pair Corr
0.69	VCNX	Vaccinex	Pair Corr
0.64	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.58	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.57	LLY	Eli Lilly Sell-off Trend	Pair Corr
0.56	IPSC	Century Therapeutics	Pair Corr
0.56	KRYS	Krystal Biotech	Pair Corr
0.44	INZY	Inozyme Pharma	Pair Corr
0.42	ME	23Andme Holding	Pair Corr
0.41	FBRX	Forte Biosciences Trending	Pair Corr
0.31	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.31	NRSNW	NeuroSense Therapeutics	Pair Corr
0.78	APLS	Apellis Pharmaceuticals Buyout Trend	Pair Corr
0.74	NKTX	Nkarta Inc	Pair Corr
0.64	MTEM	Molecular Templates	Pair Corr
0.62	NUVB	Nuvation Bio	Pair Corr
0.47	ROIV	Roivant Sciences	Pair Corr
0.42	LYRA	Lyra Therapeutics	Pair Corr
0.4	NLSPW	NLS Pharmaceutics	Pair Corr
0.34	AMGN	Amgen Inc	Pair Corr

Related Correlations Analysis

	VTRS	CTLT	MNK	TLRY	ZTS	PETQ	EBS	NBIX	TEVA	HLN
VTRS		-0.2	0.0	-0.79	-0.66	0.34	0.47	0.41	-0.49	-0.69	VTRS
CTLT	-0.2		0.0	0.19	0.54	-0.23	-0.19	-0.19	0.01	0.48	CTLT
MNK	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	MNK
TLRY	-0.79	0.19	0.0		0.64	-0.17	-0.46	-0.14	0.68	0.75	TLRY
ZTS	-0.66	0.54	0.0	0.64		-0.3	-0.57	-0.44	0.21	0.88	ZTS
PETQ	0.34	-0.23	0.0	-0.17	-0.3		-0.26	0.58	0.1	-0.25	PETQ
EBS	0.47	-0.19	0.0	-0.46	-0.57	-0.26		0.22	-0.13	-0.64	EBS
NBIX	0.41	-0.19	0.0	-0.14	-0.44	0.58	0.22		0.21	-0.37	NBIX
TEVA	-0.49	0.01	0.0	0.68	0.21	0.1	-0.13	0.21		0.3	TEVA
HLN	-0.69	0.48	0.0	0.75	0.88	-0.25	-0.64	-0.37	0.3		HLN
	VTRS	CTLT	MNK	TLRY	ZTS	PETQ	EBS	NBIX	TEVA	HLN

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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

HLN	+ 0.88	ZTS
HLN	+ 0.75	TLRY
TEVA	+ 0.68	TLRY
ZTS	+ 0.64	TLRY
NBIX	+ 0.58	PETQ
ZTS	+ 0.54	CTLT

High negative correlations

TLRY	- 0.79	VTRS
HLN	- 0.69	VTRS
ZTS	- 0.66	VTRS
HLN	- 0.64	EBS
EBS	- 0.57	ZTS
TEVA	- 0.49	VTRS

Risk-Adjusted Indicators

There is a big difference between Bausch Stock performing well and Bausch Health 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 Bausch Health'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
VTRS	1.34	0.10	0.06	0.21	1.35	(1.61)	3.11	(2.44)	16.45
CTLT	0.45	0.01	(0.20)	0.18	0.35	(0.53)	1.12	(0.65)	3.36
MNK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TLRY	2.15	(0.33)	0.00	0.92	0.00	0.00	4.94	(4.17)	21.22
ZTS	0.92	(0.03)	0.00	0.39	0.00	0.00	1.77	(1.98)	6.01
PETQ	0.07	0.03	(1.40)	(1.05)	0.00	(0.10)	0.20	(0.10)	0.52
EBS	4.70	0.16	0.02	0.39	5.95	(4.80)	11.40	(9.02)	39.28
NBIX	1.53	(0.24)	0.00	1.39	0.00	0.00	3.10	(2.10)	18.87
TEVA	1.32	(0.10)	0.00	0.39	0.00	0.00	2.51	(1.94)	12.42
HLN	0.75	(0.05)	0.00	(0.41)	0.00	0.00	1.10	(1.40)	4.56

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