Hologic Correlations

HOLX Stock

USD 74.49 0.05 0.07%

The correlation of Hologic 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Hologic Correlation With Market

Average diversification

The correlation between Hologic and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hologic and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hologic Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hologic. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

For more information on how to buy Hologic Stock please use our How to Invest in Hologic guide.

Moving together with Hologic Stock

0.79	DHR	Danaher	Pair Corr
0.71	MMSI	Merit Medical Systems	Pair Corr
0.66	FTV	Fortive Corp	Pair Corr
0.86	KO	Coca Cola	Pair Corr
0.73	XOM	Exxon Mobil Corp	Pair Corr
0.81	CAT	Caterpillar	Pair Corr
0.86	AXP	American Express	Pair Corr
0.8	CSCO	Cisco Systems	Pair Corr
0.82	MMM	3M Company	Pair Corr
0.73	BAC	Bank of America	Pair Corr

Moving against Hologic Stock

0.71	GOOD	Gladstone Commercial	Pair Corr
0.69	T	ATT Inc Aggressive Push	Pair Corr
0.66	OM	Outset Medical	Pair Corr
0.53	HPQ	HP Inc	Pair Corr
0.47	PG	Procter Gamble	Pair Corr
0.44	KNTK	Kinetik Holdings	Pair Corr
0.34	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	COO	SNN	MEDP	WST	ILMN	FMS	RPRX	CNC	TEM	THC
COO		-0.54	-0.06	-0.04	0.61	-0.51	0.32	0.63	-0.64	-0.01	COO
SNN	-0.54		-0.32	0.32	-0.79	0.89	-0.73	-0.59	0.85	0.21	SNN
MEDP	-0.06	-0.32		0.49	0.51	-0.46	0.71	-0.04	-0.43	0.33	MEDP
WST	-0.04	0.32	0.49		0.07	0.17	0.19	-0.11	0.11	0.62	WST
ILMN	0.61	-0.79	0.51	0.07		-0.88	0.85	0.67	-0.82	0.05	ILMN
FMS	-0.51	0.89	-0.46	0.17	-0.88		-0.83	-0.51	0.86	0.09	FMS
RPRX	0.32	-0.73	0.71	0.19	0.85	-0.83		0.44	-0.75	0.22	RPRX
CNC	0.63	-0.59	-0.04	-0.11	0.67	-0.51	0.44		-0.52	0.06	CNC
TEM	-0.64	0.85	-0.43	0.11	-0.82	0.86	-0.75	-0.52		0.2	TEM
THC	-0.01	0.21	0.33	0.62	0.05	0.09	0.22	0.06	0.2		THC
	COO	SNN	MEDP	WST	ILMN	FMS	RPRX	CNC	TEM	THC

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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

FMS	+ 0.89	SNN
TEM	+ 0.86	FMS
TEM	+ 0.85	SNN
RPRX	+ 0.85	ILMN
RPRX	+ 0.71	MEDP
CNC	+ 0.67	ILMN

High negative correlations

FMS	- 0.88	ILMN
RPRX	- 0.83	FMS
TEM	- 0.82	ILMN
ILMN	- 0.79	SNN
TEM	- 0.75	RPRX
RPRX	- 0.73	SNN

Risk-Adjusted Indicators

There is a big difference between Hologic Stock performing well and Hologic 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 Hologic'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
COO	1.32	0.26	0.14	(1.31)	1.21	(1.61)	4.07	(2.03)	10.26
SNN	1.06	(0.14)	0.00	(0.12)	0.00	0.00	2.29	(1.83)	14.66
MEDP	1.39	0.14	0.08	0.20	1.48	(1.62)	4.51	(2.33)	14.62
WST	1.50	0.05	0.03	0.10	1.59	(1.70)	3.46	(2.89)	14.90
ILMN	2.22	0.53	0.28	0.48	1.57	(2.74)	4.23	(2.87)	27.65
FMS	0.97	(0.16)	0.00	(0.14)	0.00	0.00	2.20	(1.81)	10.03
RPRX	1.04	0.13	0.07	0.37	1.38	(1.14)	2.13	(2.05)	12.26
CNC	2.06	0.21	0.07	0.23	2.63	(2.15)	4.67	(4.61)	21.32
TEM	2.84	(0.47)	0.00	(0.18)	0.00	0.00	7.00	(4.95)	23.37
THC	1.51	(0.05)	(0.03)	0.00	2.01	(1.57)	2.83	(2.81)	14.05

Hologic Corporate Management

Mark Irving	VP Secretary	Profile
Paul Malenchini	Chief Officer	Profile
Peter Dunne	Senior Resources	Profile
Benjamin Cohn	Principal Chief Accounting Officer	Profile
Erik Anderson	Division Solutions	Profile
Kevin Thornal	Group Solutions	Profile

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