Henry Schein Correlations

HS2 Stock

EUR 73.24 0.16 0.22%

The current 90-days correlation between Henry Schein and Cardinal Health is -0.17 (i.e., Good diversification). The correlation of Henry Schein 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.

Henry Schein Correlation With Market

Modest diversification

The correlation between Henry Schein and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Henry Schein and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Henry Schein could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Henry Schein when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Henry Schein - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Henry Schein to buy it.

Moving together with Henry Stock

0.63	CLH	Cardinal Health	Pair Corr
0.65	PBV	Prestige Consumer	Pair Corr
0.68	ADH2	Air Canada	Pair Corr

Moving against Henry Stock

0.59	CXT	Carmat SA	Pair Corr
0.55	MTO	METTLER TOLEDO INTL	Pair Corr
0.49	MTO	Mitie Group PLC	Pair Corr
0.48	MTO	METTLER TOLEDO INTL	Pair Corr
0.45	59Z	MEDIPAL HOLDINGS P	Pair Corr
0.4	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	CLH	HS2	S1R	X2S	X2S1	PBV	59Z	PD2
CLH		0.63	0.55	0.49	0.49	0.91	-0.48	0.26	CLH
HS2	0.63		0.58	0.51	0.52	0.65	-0.45	0.48	HS2
S1R	0.55	0.58		0.97	0.98	0.41	-0.7	0.05	S1R
X2S	0.49	0.51	0.97		1.0	0.34	-0.66	0.0	X2S
X2S1	0.49	0.52	0.98	1.0		0.34	-0.65	0.0	X2S1
PBV	0.91	0.65	0.41	0.34	0.34		-0.46	0.42	PBV
59Z	-0.48	-0.45	-0.7	-0.66	-0.65	-0.46		-0.41	59Z
PD2	0.26	0.48	0.05	0.0	0.0	0.42	-0.41		PD2
	CLH	HS2	S1R	X2S	X2S1	PBV	59Z	PD2

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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

X2S1	+ 1.0	X2S
X2S1	+ 0.98	S1R
X2S	+ 0.97	S1R
PBV	+ 0.91	CLH
PBV	+ 0.65	HS2
HS2	+ 0.63	CLH

High negative correlations

59Z	- 0.7	S1R
59Z	- 0.66	X2S
59Z	- 0.65	X2S1
59Z	- 0.48	CLH
59Z	- 0.46	PBV
59Z	- 0.45	HS2

Risk-Adjusted Indicators

There is a big difference between Henry Stock performing well and Henry Schein 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 Henry Schein'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
CLH	1.21	0.13	0.07	0.30	1.21	(1.47)	3.25	(2.17)	12.11
HS2	1.29	0.13	0.06	0.33	1.23	(1.55)	3.42	(2.16)	8.19
S1R	2.49	0.40	0.13	0.43	2.69	(3.31)	6.92	(4.35)	21.18
X2S	2.00	0.17	0.05	0.36	2.53	(2.28)	4.00	(3.59)	18.93
X2S1	2.06	0.17	0.05	0.34	2.33	(2.47)	4.12	(3.23)	17.46
PBV	1.27	0.22	0.08	1.58	1.11	(1.70)	2.58	(1.96)	10.42
59Z	1.13	(0.08)	0.00	(0.19)	0.00	0.00	2.48	(2.04)	6.80
PD2	1.50	(0.02)	(0.04)	0.08	1.98	(1.69)	3.15	(3.59)	10.15

Be your own money manager

Our tools can tell you how much better you can do entering a position in Henry Schein without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Henry Schein Corporate Management

Elected by the shareholders, the Henry Schein's board of directors comprises two types of representatives: Henry Schein inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Henry. The board's role is to monitor Henry Schein's management team and ensure that shareholders' interests are well served. Henry Schein's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Henry Schein's outside directors are responsible for providing unbiased perspectives on the board's policies.

Michael Ettinger	Ex COO	Profile
Walter Siegel	VP Officer	Profile
Graham Stanley	VP Officer	Profile
Stanley Bergman	Ex CEO	Profile
Steven Paladino	Ex Director	Profile
Ronald South	VP CFO	Profile
Mark Mlotek	Chief VP	Profile

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