Quidel Correlations

QDEL Stock

USD 28.09 2.47 8.08%

The current 90-days correlation between Quidel and LeMaitre Vascular is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Quidel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Quidel moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Quidel Correlation With Market

Poor diversification

The correlation between Quidel and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Quidel and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Quidel Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Quidel. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

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

Moving together with Quidel Stock

0.64	FONR	Fonar	Pair Corr
0.67	688626	Xiangyu Medical	Pair Corr
0.74	4DX	4DMEDICAL	Pair Corr
0.61	300753	Jiangsu Apon Medical	Pair Corr
0.63	688580	Nanjing Vishee Medical	Pair Corr
0.63	EYE	Nova EYE Medical	Pair Corr

Moving against Quidel Stock

0.66	300869	Contec Medical Systems	Pair Corr
0.61	ELAB	Elevai Labs Common	Pair Corr
0.54	688198	Beijing Balance Medical	Pair Corr
0.44	300981	Zhonghong Pulin Medical	Pair Corr
0.53	688013	Touchstone International	Pair Corr
0.52	603301	Zhende Medical	Pair Corr
0.36	002950	Allmed Medical Products	Pair Corr

Related Correlations Analysis

	LMAT	VRDN	ATRC	TWST	GPCR	QURE	XRAY	NHC	EWTX	AZTA
LMAT		-0.67	-0.52	-0.06	-0.48	0.65	0.28	-0.59	-0.57	-0.45	LMAT
VRDN	-0.67		0.56	0.31	0.7	-0.85	-0.38	0.89	0.88	0.71	VRDN
ATRC	-0.52	0.56		0.46	0.68	-0.32	0.24	0.62	0.49	0.7	ATRC
TWST	-0.06	0.31	0.46		0.72	-0.13	0.66	0.45	0.47	0.76	TWST
GPCR	-0.48	0.7	0.68	0.72		-0.58	0.19	0.72	0.76	0.77	GPCR
QURE	0.65	-0.85	-0.32	-0.13	-0.58		0.48	-0.73	-0.74	-0.5	QURE
XRAY	0.28	-0.38	0.24	0.66	0.19	0.48		-0.18	-0.18	0.29	XRAY
NHC	-0.59	0.89	0.62	0.45	0.72	-0.73	-0.18		0.81	0.75	NHC
EWTX	-0.57	0.88	0.49	0.47	0.76	-0.74	-0.18	0.81		0.77	EWTX
AZTA	-0.45	0.71	0.7	0.76	0.77	-0.5	0.29	0.75	0.77		AZTA
	LMAT	VRDN	ATRC	TWST	GPCR	QURE	XRAY	NHC	EWTX	AZTA

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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

NHC	+ 0.89	VRDN
EWTX	+ 0.88	VRDN
EWTX	+ 0.81	NHC
AZTA	+ 0.77	GPCR
AZTA	+ 0.77	EWTX
AZTA	+ 0.76	TWST

High negative correlations

QURE	- 0.85	VRDN
EWTX	- 0.74	QURE
NHC	- 0.73	QURE
VRDN	- 0.67	LMAT
NHC	- 0.59	LMAT
QURE	- 0.58	GPCR

Risk-Adjusted Indicators

There is a big difference between Quidel Stock performing well and Quidel 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 Quidel'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
LMAT	1.14	(0.12)	0.00	(0.08)	0.00	0.00	2.17	(2.30)	8.28
VRDN	2.01	0.46	0.20	0.86	1.88	(2.58)	5.57	(2.22)	15.86
ATRC	2.35	0.00	0.01	0.07	3.09	(2.26)	4.34	(4.08)	18.00
TWST	3.20	0.27	0.11	0.16	3.39	(3.57)	7.37	(6.18)	17.30
GPCR	5.11	2.47	0.62	(1.37)	2.83	(6.72)	8.96	(5.94)	110.34
QURE	4.42	(1.09)	0.00	(0.88)	0.00	0.00	9.37	(10.75)	60.67
XRAY	1.75	(0.10)	(0.02)	0.01	2.60	(2.02)	4.84	(2.94)	13.76
NHC	1.31	0.19	0.10	0.37	1.49	(1.37)	2.84	(2.07)	9.28
EWTX	4.16	1.05	0.23	0.98	4.07	(5.08)	14.33	(5.57)	38.85
AZTA	1.86	0.27	0.15	0.21	1.86	(2.18)	3.81	(3.24)	22.17

Quidel Corporate Management

Ruben Argueta	Director Relations	Profile
Juliet Cunningham	Vice Relations	Profile
Michelle JD	Chief Secretary	Profile
Chockalingam Palaniappan	Chief Officer	Profile
Joseph CPA	Chief Officer	Profile
Louise Brandy	Senior Officer	Profile
Tamara Ranalli	Molecular Leader	Profile

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