Guardant Health Correlations

GH Stock

USD 110.17 1.43 1.32%

The current 90-days correlation between Guardant Health and EXACT Sciences is 0.04 (i.e., Significant 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

Significant diversification

The correlation between Guardant Health and DJI is 0.05 (i.e., Significant 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

0.61	NPTH	NeuPath Health	Pair Corr
0.96	CAH	Cardinal Health	Pair Corr
0.88	HCA	HCA Holdings	Pair Corr
0.72	MCK	McKesson	Pair Corr
0.76	NHC	National HealthCare	Pair Corr
0.68	DR	Medical Facilities	Pair Corr
0.64	SAR	Saratoga Investment Corp	Pair Corr

Moving against Guardant Stock

0.8	UNH	UnitedHealth Group CDR Earnings Call This Week	Pair Corr
0.79	OPT	Optima Health plc	Pair Corr
0.78	300015	Aier Eye Hospital	Pair Corr
0.78	UNH	UnitedHealth Group	Pair Corr
0.7	LH	Laboratory	Pair Corr
0.64	SPI	Spire Healthcare	Pair Corr
0.46	600763	Top Choice Medical	Pair Corr
0.43	CON	Concentra Group Holdings	Pair Corr
0.43	301267	Huaxia Eye Hospital	Pair Corr
0.37	PHA	Premier Health Earnings Call This Week	Pair Corr
0.35	000503	China Reform Health	Pair Corr
0.91	ACHC	Acadia Healthcare	Pair Corr
0.85	WELL	WELL Health Technologies	Pair Corr
0.84	JD	JD Inc Adr	Pair Corr
0.7	JAKK	JAKKS Pacific	Pair Corr
0.59	PINC	Premier	Pair Corr
0.36	ADUS	Addus HomeCare	Pair Corr
0.36	CRVL	CorVel Corp Normal Trading	Pair Corr

Related Correlations Analysis

	EXAS	ICLR	RVTY	ASND	VTRS	QGEN	IONS	BBIO	SOLV	EHC
EXAS		0.32	0.78	0.23	0.79	-0.09	0.93	0.92	0.91	-0.81	EXAS
ICLR	0.32		0.49	0.27	0.36	0.57	0.38	0.12	0.38	-0.03	ICLR
RVTY	0.78	0.49		0.12	0.55	0.37	0.81	0.64	0.82	-0.43	RVTY
ASND	0.23	0.27	0.12		0.23	0.04	0.25	0.23	0.32	-0.2	ASND
VTRS	0.79	0.36	0.55	0.23		-0.19	0.72	0.84	0.64	-0.84	VTRS
QGEN	-0.09	0.57	0.37	0.04	-0.19		0.03	-0.31	0.11	0.5	QGEN
IONS	0.93	0.38	0.81	0.25	0.72	0.03		0.87	0.88	-0.72	IONS
BBIO	0.92	0.12	0.64	0.23	0.84	-0.31	0.87		0.81	-0.89	BBIO
SOLV	0.91	0.38	0.82	0.32	0.64	0.11	0.88	0.81		-0.65	SOLV
EHC	-0.81	-0.03	-0.43	-0.2	-0.84	0.5	-0.72	-0.89	-0.65		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	+ 0.93	EXAS
BBIO	+ 0.92	EXAS
SOLV	+ 0.91	EXAS
SOLV	+ 0.88	IONS
BBIO	+ 0.87	IONS
BBIO	+ 0.84	VTRS

High negative correlations

EHC	- 0.89	BBIO
EHC	- 0.84	VTRS
EHC	- 0.81	EXAS
EHC	- 0.72	IONS
EHC	- 0.65	SOLV
EHC	- 0.43	RVTY

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	1.73	0.94	0.80	(3.77)	0.00	(2.00)	3.77	(1.55)	24.01
ICLR	1.92	(0.15)	0.00	(0.01)	0.00	0.00	4.07	(3.63)	13.31
RVTY	1.57	0.08	0.08	0.14	1.59	(1.90)	3.98	(3.29)	8.26
ASND	1.70	(0.01)	0.00	0.12	0.00	0.00	4.43	(4.12)	11.01
VTRS	1.14	0.29	0.15	0.36	1.41	(1.19)	2.51	(2.36)	12.76
QGEN	1.01	0.00	(0.03)	0.08	1.19	(1.10)	2.56	(2.25)	5.38
IONS	1.46	0.19	0.09	0.40	1.56	(1.61)	3.19	(2.60)	8.64
BBIO	1.87	0.47	0.23	0.50	1.75	(2.20)	4.65	(3.38)	23.30
SOLV	1.18	0.19	0.11	0.52	1.10	(1.30)	2.91	(2.08)	11.22
EHC	0.90	(0.32)	0.00	(0.89)	0.00	0.00	1.34	(1.96)	8.36

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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