Guardant Health Correlations

GH Stock

USD 114.04 0.00 0.00%

The current 90-days correlation between Guardant Health and EXACT Sciences is 0.11 (i.e., Average diversification). The correlation of Guardant 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.

Guardant Health Correlation With Market

Very weak diversification

The correlation between Guardant Health and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guardant Health and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Guardant Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Guardant Health. 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.

For more detail on how to invest in Guardant Stock please use our How to Invest in Guardant Health guide.

Moving together with Guardant Stock

0.69	RHC	Ramsay Health Care	Pair Corr
0.65	SHL	Sonic Healthcare	Pair Corr
0.61	VFC	VF Corporation	Pair Corr
0.61	IFSPF	Interfor	Pair Corr
0.69	GPHOF	Graphite One	Pair Corr
0.69	AXIA	AXIA Energia Symbol Change	Pair Corr

Moving against Guardant Stock

0.84	FMS	Fresenius Medical Care	Pair Corr
0.7	ZTLLF	Zonetail	Pair Corr
0.7	NSFDF	NXT Energy Solutions	Pair Corr
0.62	GLABF	Gemina Laboratories	Pair Corr
0.6	ATMV	ATMV Old Symbol Change	Pair Corr
0.52	PINC	Premier	Pair Corr
0.47	SIG	Sigma Healthcare	Pair Corr
0.69	MMC	MMC Old Symbol Change	Pair Corr

Related Correlations Analysis

	EXAS	ICLR	RVTY	ASND	VTRS	QGEN	IONS	BBIO	SOLV	EHC
EXAS		0.75	0.66	0.41	0.7	0.39	0.87	0.87	0.84	-0.69	EXAS
ICLR	0.75		0.64	0.39	0.68	0.42	0.77	0.69	0.59	-0.49	ICLR
RVTY	0.66	0.64		0.66	0.74	0.86	0.57	0.66	0.47	-0.69	RVTY
ASND	0.41	0.39	0.66		0.61	0.7	0.39	0.56	0.23	-0.64	ASND
VTRS	0.7	0.68	0.74	0.61		0.63	0.61	0.84	0.41	-0.89	VTRS
QGEN	0.39	0.42	0.86	0.7	0.63		0.36	0.46	0.17	-0.61	QGEN
IONS	0.87	0.77	0.57	0.39	0.61	0.36		0.82	0.73	-0.59	IONS
BBIO	0.87	0.69	0.66	0.56	0.84	0.46	0.82		0.66	-0.84	BBIO
SOLV	0.84	0.59	0.47	0.23	0.41	0.17	0.73	0.66		-0.4	SOLV
EHC	-0.69	-0.49	-0.69	-0.64	-0.89	-0.61	-0.59	-0.84	-0.4		EHC
	EXAS	ICLR	RVTY	ASND	VTRS	QGEN	IONS	BBIO	SOLV	EHC

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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

IONS	+ 0.87	EXAS
BBIO	+ 0.87	EXAS
QGEN	+ 0.86	RVTY
SOLV	+ 0.84	EXAS
BBIO	+ 0.84	VTRS
BBIO	+ 0.82	IONS

High negative correlations

EHC	- 0.89	VTRS
EHC	- 0.84	BBIO
EHC	- 0.69	RVTY
EHC	- 0.69	EXAS
EHC	- 0.64	ASND
EHC	- 0.61	QGEN

Risk-Adjusted Indicators

There is a big difference between Guardant Stock performing well and Guardant 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 Guardant 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
EXAS	1.54	0.75	0.76	(3.87)	0.00	(1.73)	3.77	(1.06)	24.01
ICLR	1.87	0.00	0.01	0.05	2.25	(2.14)	4.70	(3.51)	13.31
RVTY	1.71	0.09	0.06	0.12	1.62	(2.25)	4.52	(3.04)	9.05
ASND	2.04	0.21	0.05	(0.29)	2.37	(2.29)	4.74	(4.38)	12.80
VTRS	1.30	0.33	0.19	0.41	1.34	(1.44)	3.08	(2.36)	12.76
QGEN	1.46	0.25	0.13	(0.67)	1.22	(1.96)	2.86	(2.50)	19.10
IONS	1.61	0.22	0.09	(1.32)	1.64	(1.82)	3.19	(2.67)	8.64
BBIO	1.87	0.58	0.27	2.92	1.59	(2.29)	4.65	(2.55)	23.30
SOLV	1.27	0.06	0.03	0.12	1.61	(1.34)	2.91	(2.08)	14.51
EHC	1.01	(0.46)	0.00	(0.79)	0.00	0.00	1.39	(2.49)	7.86

Guardant Health Corporate Management

Jennifer Higgins	Senior Affairs	Profile
Stephen Murphy	Senior Marketing	Profile
Gulshan JD	Senior Officer	Profile
John Saia	Chief Secretary	Profile
Christopher Freeman	Chief Oncology	Profile
John JD	Chief Secretary	Profile

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