Henry Schein Correlations

HSIC Stock

USD 80.26 1.11 1.36%

The current 90-days correlation between Henry Schein and Globus Medical is 0.27 (i.e., Modest 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

Poor diversification

The correlation between Henry Schein and DJI is 0.62 (i.e., Poor 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.

Build AI portfolio with Henry Stock

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

For information on how to trade Henry Stock refer to our How to Trade Henry Stock guide.

Moving together with Henry Stock

0.73	CI	Cigna Corp	Pair Corr
0.68	X34	ENHABIT INC DL Earnings Call Tomorrow	Pair Corr
0.61	GD6	Ramsay Gnrale de	Pair Corr
0.71	EHAB	Enhabit Earnings Call Tomorrow	Pair Corr
0.66	ENSG	Ensign Group	Pair Corr
0.61	FRE	Fresenius SE	Pair Corr
0.67	636	Sienna Senior Living	Pair Corr

Moving against Henry Stock

0.55	MD	Mednax Inc	Pair Corr
0.38	IDX	Integral Diagnostics	Pair Corr
0.36	UNH	UnitedHealth Group CDR	Pair Corr
0.31	GH	Guardant Health	Pair Corr
0.68	WGRX	Wellgistics Health Common	Pair Corr
0.66	KDA	KDA Group	Pair Corr
0.65	FLGT	Fulgent Genetics	Pair Corr
0.52	PXS	Paragon Care Limited	Pair Corr
0.59	HQY	HealthEquity	Pair Corr

Related Correlations Analysis

	GMED	ATR	GRFS	MOH	HALO	DVA	BIO	MASI	AVTR
GMED		0.27	0.01	0.32	0.09	0.0	-0.08	0.5	-0.04	GMED
ATR	0.27		0.39	-0.53	0.5	0.85	-0.81	0.71	-0.81	ATR
GRFS	0.01	0.39		0.07	0.48	0.3	-0.46	0.11	-0.26	GRFS
MOH	0.32	-0.53	0.07		-0.18	-0.69	0.35	-0.31	0.59	MOH
HALO	0.09	0.5	0.48	-0.18		0.38	-0.25	0.04	-0.15	HALO
DVA	0.0	0.85	0.3	-0.69	0.38		-0.73	0.66	-0.87	DVA
BIO	-0.08	-0.81	-0.46	0.35	-0.25	-0.73		-0.63	0.88	BIO
MASI	0.5	0.71	0.11	-0.31	0.04	0.66	-0.63		-0.72	MASI
AVTR	-0.04	-0.81	-0.26	0.59	-0.15	-0.87	0.88	-0.72		AVTR
	GMED	ATR	GRFS	MOH	HALO	DVA	BIO	MASI	AVTR

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

AVTR	+ 0.88	BIO
DVA	+ 0.85	ATR
MASI	+ 0.71	ATR
MASI	+ 0.66	DVA
AVTR	+ 0.59	MOH
MASI	+ 0.5	GMED

High negative correlations

AVTR	- 0.87	DVA
AVTR	- 0.81	ATR
BIO	- 0.81	ATR
BIO	- 0.73	DVA
AVTR	- 0.72	MASI
DVA	- 0.69	MOH

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
GMED	1.32	0.05	0.02	0.13	1.26	(1.79)	3.63	(2.45)	7.42
ATR	1.11	0.19	0.14	0.30	1.16	(1.30)	2.93	(1.51)	9.42
GRFS	1.51	0.08	0.03	0.16	1.91	(1.52)	3.23	(3.35)	8.28
MOH	2.26	0.24	0.01	(0.13)	5.73	(1.98)	4.39	(4.52)	29.91
HALO	1.67	(0.11)	0.00	(0.12)	0.00	0.00	3.58	(3.26)	13.48
DVA	1.79	0.44	0.20	(1.35)	1.45	(2.45)	3.95	(2.27)	26.79
BIO	1.30	(0.26)	0.00	(0.25)	0.00	0.00	2.31	(2.65)	17.85
MASI	1.89	0.32	0.17	0.66	1.44	(2.33)	3.02	(2.28)	34.38
AVTR	1.81	(0.49)	0.00	(0.23)	0.00	0.00	3.20	(3.59)	21.90

Henry Schein Corporate Executives

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.

Ronald South

Senior CFO

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