Charles River Correlations
| CRL Stock | USD 194.19 6.29 3.35% |
The current 90-days correlation between Charles River Labora and ICON PLC is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Charles River moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Charles River Laboratories moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Charles River Correlation With Market
Poor diversification
The correlation between Charles River Laboratories and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Charles River Laboratories and DJI in the same portfolio, assuming nothing else is changed.
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Charles Stock performing well and Charles River 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 Charles River'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ICLR | 1.85 | (0.74) | 0.00 | (0.60) | 0.00 | 3.48 | 24.50 | |||
| MTD | 1.32 | (0.35) | 0.00 | (0.52) | 0.00 | 2.61 | 12.16 | |||
| SYNH | 0.67 | 0.09 | 0.02 | 0.79 | 0.85 | 2.13 | 9.20 | |||
| LH | 0.93 | 0.03 | 0.00 | 0.13 | 1.15 | 2.09 | 7.89 | |||
| WAT | 1.42 | 0.04 | 0.02 | 0.13 | 1.35 | 2.57 | 24.69 | |||
| IDXX | 1.10 | (0.33) | 0.00 | (0.25) | 0.00 | 2.26 | 13.04 | |||
| IQV | 1.28 | (0.48) | 0.00 | (0.25) | 0.00 | 1.62 | 9.22 | |||
| RVTY | 1.22 | (0.15) | 0.00 | (0.17) | 0.00 | 2.35 | 9.11 | |||
| CDNA | 2.63 | (0.58) | 0.00 | (0.50) | 0.00 | 4.05 | 24.22 |