Haemonetics Correlations

HAE Stock

USD 85.43 0.51 0.60%

The current 90-days correlation between Haemonetics and Merit Medical Systems is 0.12 (i.e., Average diversification). The correlation of Haemonetics 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.

Haemonetics Correlation With Market

Weak diversification

The correlation between Haemonetics and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Haemonetics and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Haemonetics. 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 information on how to trade Haemonetics Stock refer to our How to Trade Haemonetics Stock guide.

Moving together with Haemonetics Stock

0.83	DOCS	Doximity	Pair Corr
0.89	FOXO	FOXO Technologies	Pair Corr
0.79	ITGR	Integer Holdings Corp	Pair Corr
0.72	MMSI	Merit Medical Systems	Pair Corr
0.67	OMIC	Singular Genomics Systems	Pair Corr
0.91	CRVL	CorVel Corp Normal Trading	Pair Corr
0.65	EXEL	Exelixis	Pair Corr
0.68	BMY	Bristol Myers Squibb	Pair Corr

Moving against Haemonetics Stock

0.76	EVH	Evolent Health	Pair Corr
0.72	AMN	AMN Healthcare Services	Pair Corr
0.61	AGL	agilon health	Pair Corr
0.53	FIGS	Figs Inc	Pair Corr
0.51	PHG	Koninklijke Philips	Pair Corr
0.41	FORA	Forian Inc	Pair Corr
0.6	VALN	Valneva SE ADR Downward Rally	Pair Corr
0.52	ADUS	Addus HomeCare	Pair Corr
0.5	EQ	Equillium	Pair Corr
0.5	ME	23Andme Holding	Pair Corr
0.39	DOMH	Dominari Holdings	Pair Corr
0.38	BACK	IMAC Holdings	Pair Corr
0.35	ATPC	Agape ATP	Pair Corr
0.33	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.78	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.76	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.75	EXAS	EXACT Sciences	Pair Corr
0.66	LLY	Eli Lilly	Pair Corr
0.6	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.57	HLN	Haleon plc	Pair Corr

Related Correlations Analysis

	MMSI	ANGO	ATR	NVST	HOLX	ICUI	COO	TFX	WST	ALC
MMSI		0.09	0.54	0.75	-0.36	0.16	0.0	-0.74	0.6	-0.61	MMSI
ANGO	0.09		-0.45	0.04	0.16	-0.35	-0.02	0.27	0.27	0.29	ANGO
ATR	0.54	-0.45		0.69	-0.31	0.48	-0.05	-0.76	0.47	-0.63	ATR
NVST	0.75	0.04	0.69		-0.33	0.24	-0.17	-0.78	0.66	-0.59	NVST
HOLX	-0.36	0.16	-0.31	-0.33		0.06	0.51	0.52	-0.25	0.5	HOLX
ICUI	0.16	-0.35	0.48	0.24	0.06		0.61	-0.01	-0.14	0.19	ICUI
COO	0.0	-0.02	-0.05	-0.17	0.51	0.61		0.42	-0.22	0.54	COO
TFX	-0.74	0.27	-0.76	-0.78	0.52	-0.01	0.42		-0.61	0.9	TFX
WST	0.6	0.27	0.47	0.66	-0.25	-0.14	-0.22	-0.61		-0.52	WST
ALC	-0.61	0.29	-0.63	-0.59	0.5	0.19	0.54	0.9	-0.52		ALC
	MMSI	ANGO	ATR	NVST	HOLX	ICUI	COO	TFX	WST	ALC

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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

ALC	+ 0.9	TFX
NVST	+ 0.75	MMSI
NVST	+ 0.69	ATR
WST	+ 0.66	NVST
COO	+ 0.61	ICUI
WST	+ 0.6	MMSI

High negative correlations

TFX	- 0.78	NVST
TFX	- 0.76	ATR
TFX	- 0.74	MMSI
ALC	- 0.63	ATR
WST	- 0.61	TFX
ALC	- 0.61	MMSI

Risk-Adjusted Indicators

There is a big difference between Haemonetics Stock performing well and Haemonetics 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 Haemonetics' 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
MMSI	0.88	0.15	0.10	0.37	0.71	(0.95)	2.11	(1.23)	6.42
ANGO	2.12	(0.07)	0.00	0.20	0.00	0.00	3.71	(4.03)	19.00
ATR	0.71	0.13	0.08	0.31	0.88	(0.75)	1.47	(1.37)	7.86
NVST	1.84	0.23	0.06	(1.73)	1.76	(2.19)	3.96	(2.68)	13.77
HOLX	0.88	0.01	0.00	0.08	0.00	0.00	1.81	(1.79)	8.14
ICUI	1.22	(0.01)	0.01	0.09	1.32	(1.30)	2.87	(2.38)	7.25
COO	0.87	0.07	0.00	0.30	0.87	(0.94)	1.39	(1.64)	13.98
TFX	1.15	(0.40)	0.00	(0.40)	0.00	0.00	1.71	(1.92)	17.00
WST	1.78	0.00	0.01	0.10	2.07	(2.00)	4.50	(3.02)	22.42
ALC	0.84	(0.20)	0.00	(0.35)	0.00	0.00	1.69	(2.03)	8.43

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