Hologic Correlations

HOLX Stock

USD 75.05 0.06 0.08%

The current 90-days correlation between Hologic and The Cooper Companies is 0.11 (i.e., Average diversification). 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

Poor diversification

The correlation between Hologic and DJI is 0.61 (i.e., Poor 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 signals in industry.

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

Moving together with Hologic Stock

0.71	DHR	Danaher Earnings Call This Week	Pair Corr
0.71	HAE	Haemonetics	Pair Corr
0.71	KRMD	Repro Med Systems	Pair Corr
0.76	LIVN	LivaNova PLC	Pair Corr
0.64	KGC	Kinross Gold Aggressive Push	Pair Corr
0.67	AIZ	Assurant	Pair Corr
0.79	LMND	Lemonade	Pair Corr
0.74	PHI	PLDT Inc ADR	Pair Corr

Moving against Hologic Stock

0.8	STI	Solidion Technology Upward Rally	Pair Corr
0.63	STIM	Neuronetics	Pair Corr
0.56	BSX	Boston Scientific Corp	Pair Corr
0.52	IHC	Inspiration Healthcare	Pair Corr
0.49	NYXH	Nyxoah	Pair Corr
0.42	SYK	Stryker Earnings Call This Week	Pair Corr

Related Correlations Analysis

	COO	SNN	MEDP	WST	ILMN	FMS	RPRX	CNC	TEM	THC
COO		-0.48	-0.11	-0.21	0.76	-0.5	0.43	0.79	-0.6	-0.19	COO
SNN	-0.48		-0.03	0.57	-0.66	0.82	-0.61	-0.45	0.84	0.39	SNN
MEDP	-0.11	-0.03		-0.02	0.26	-0.25	0.45	0.3	-0.04	0.04	MEDP
WST	-0.21	0.57	-0.02		-0.48	0.64	-0.32	-0.35	0.52	0.67	WST
ILMN	0.76	-0.66	0.26	-0.48		-0.83	0.78	0.86	-0.73	-0.32	ILMN
FMS	-0.5	0.82	-0.25	0.64	-0.83		-0.74	-0.66	0.77	0.45	FMS
RPRX	0.43	-0.61	0.45	-0.32	0.78	-0.74		0.66	-0.61	-0.07	RPRX
CNC	0.79	-0.45	0.3	-0.35	0.86	-0.66	0.66		-0.57	-0.22	CNC
TEM	-0.6	0.84	-0.04	0.52	-0.73	0.77	-0.61	-0.57		0.56	TEM
THC	-0.19	0.39	0.04	0.67	-0.32	0.45	-0.07	-0.22	0.56		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

CNC	+ 0.86	ILMN
TEM	+ 0.84	SNN
FMS	+ 0.82	SNN
CNC	+ 0.79	COO
RPRX	+ 0.78	ILMN
TEM	+ 0.77	FMS

High negative correlations

FMS	- 0.83	ILMN
RPRX	- 0.74	FMS
TEM	- 0.73	ILMN
CNC	- 0.66	FMS
ILMN	- 0.66	SNN
TEM	- 0.61	RPRX

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	1.14	0.05	0.04	0.12	1.18	(1.34)	2.84	(2.03)	10.26
SNN	1.19	(0.19)	0.00	(0.12)	0.00	0.00	2.40	(1.94)	14.66
MEDP	1.31	0.08	0.03	0.18	1.57	(1.41)	3.06	(2.33)	14.62
WST	1.65	(0.29)	0.00	(0.17)	0.00	0.00	2.56	(3.58)	17.94
ILMN	2.16	0.61	0.33	0.67	1.37	(2.63)	4.19	(2.83)	28.04
FMS	1.28	(0.39)	0.00	(0.23)	0.00	0.00	3.00	(3.83)	10.14
RPRX	1.10	0.12	0.06	0.28	1.47	(1.21)	2.13	(2.28)	12.26
CNC	2.02	0.36	0.12	0.45	2.47	(2.20)	4.67	(3.69)	21.32
TEM	2.79	(0.64)	0.00	(0.19)	0.00	0.00	5.61	(5.05)	16.51
THC	1.52	(0.15)	0.00	(0.10)	0.00	0.00	3.14	(3.00)	14.80

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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