Henry Schein Correlations

HSIC Stock

USD 78.68 1.68 2.18%

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 0.67 (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

0.82	NPTH	NeuPath Health	Pair Corr
0.66	EHAB	Enhabit	Pair Corr
0.63	DR	Medical Facilities	Pair Corr

Moving against Henry Stock

0.75	S00	Spire Healthcare	Pair Corr
0.7	SPI	Spire Healthcare	Pair Corr
0.57	FMS	Fresenius Medical Care	Pair Corr
0.47	REG	Regis Healthcare	Pair Corr
0.34	UHS	Universal Health Services	Pair Corr
0.32	CCM	Concord Medical Services	Pair Corr
0.78	BMGL	Basel Medical Group	Pair Corr
0.74	NAKA	Kindly MD Earnings Call This Week	Pair Corr
0.73	ATPC	Agape ATP	Pair Corr
0.56	BZ7A	Bumrungrad Hospital	Pair Corr
0.54	4WK	Wenzhou Kangning Hospital	Pair Corr
0.48	A41	Addus HomeCare	Pair Corr
0.48	NVDA	NVIDIA	Pair Corr
0.45	7QD	CLOVER HEALTH INV	Pair Corr
0.44	8HX	AKSO HEALTH GR	Pair Corr
0.42	WELL	WELL Health Technologies	Pair Corr
0.42	CRVL	CorVel Corp	Pair Corr
0.33	SIG	Sigma Healthcare	Pair Corr
0.31	ADUS	Addus HomeCare	Pair Corr

Related Correlations Analysis

	GMED	ATR	GRFS	MOH	HALO	DVA	BIO	MASI	AVTR
GMED		0.72	0.15	0.49	0.25	-0.33	0.06	-0.27	0.17	GMED
ATR	0.72		0.38	0.66	0.47	-0.21	-0.11	-0.4	0.18	ATR
GRFS	0.15	0.38		0.67	0.2	-0.11	-0.21	-0.53	0.14	GRFS
MOH	0.49	0.66	0.67		0.34	-0.46	-0.23	-0.5	0.38	MOH
HALO	0.25	0.47	0.2	0.34		0.08	0.06	0.01	0.27	HALO
DVA	-0.33	-0.21	-0.11	-0.46	0.08		0.01	0.2	-0.43	DVA
BIO	0.06	-0.11	-0.21	-0.23	0.06	0.01		0.32	0.59	BIO
MASI	-0.27	-0.4	-0.53	-0.5	0.01	0.2	0.32		0.04	MASI
AVTR	0.17	0.18	0.14	0.38	0.27	-0.43	0.59	0.04		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

ATR	+ 0.72	GMED
MOH	+ 0.67	GRFS
MOH	+ 0.66	ATR
AVTR	+ 0.59	BIO
MOH	+ 0.49	GMED
HALO	+ 0.47	ATR

High negative correlations

MASI	- 0.53	GRFS
MASI	- 0.5	MOH
DVA	- 0.46	MOH
AVTR	- 0.43	DVA
MASI	- 0.4	ATR
DVA	- 0.33	GMED

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	2.00	0.61	0.47	0.56	0.87	(3.13)	3.67	(2.45)	38.89
ATR	0.98	0.09	0.05	0.21	1.32	(1.04)	2.48	(1.98)	6.11
GRFS	1.47	(0.05)	0.00	(0.03)	0.00	0.00	3.17	(3.28)	7.88
MOH	1.85	0.20	0.07	0.21	2.65	(1.85)	3.97	(3.94)	13.66
HALO	1.54	0.27	0.13	0.62	1.66	(1.62)	3.72	(2.83)	9.83
DVA	1.66	0.36	0.22	0.61	1.29	(2.17)	4.25	(2.85)	15.73
BIO	1.24	(0.14)	0.00	(0.07)	0.00	0.00	3.02	(2.83)	8.43
MASI	1.64	(0.06)	0.00	(0.11)	0.00	0.00	3.06	(2.71)	10.00
AVTR	1.60	(0.17)	0.00	(0.10)	0.00	0.00	3.20	(3.14)	13.43

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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