Stryker Correlations

SYK Stock

USD 367.95 4.25 1.17%

The current 90-days correlation between Stryker and Boston Scientific Corp is 0.27 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Stryker moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Stryker moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Stryker Correlation With Market

Good diversification

The correlation between Stryker and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stryker and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Stryker Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Stryker. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in private.

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

Moving against Stryker Stock

0.6	XTNT	Xtant Medical Holdings	Pair Corr
0.37	PINK	Perimeter Medical Imaging	Pair Corr

Related Correlations Analysis

	BSX	MDT	DHR	PFE	SNY	GILD	HCA	MCK	AMGN	VRTX
BSX		-0.36	0.1	-0.76	0.51	-0.75	-0.4	-0.51	-0.63	-0.48	BSX
MDT	-0.36		0.16	0.6	-0.27	0.53	0.71	0.29	0.59	0.36	MDT
DHR	0.1	0.16		-0.11	-0.37	-0.26	-0.21	-0.43	-0.18	0.34	DHR
PFE	-0.76	0.6	-0.11		-0.35	0.85	0.59	0.51	0.76	0.56	PFE
SNY	0.51	-0.27	-0.37	-0.35		-0.37	0.03	0.14	-0.13	-0.64	SNY
GILD	-0.75	0.53	-0.26	0.85	-0.37		0.58	0.64	0.87	0.53	GILD
HCA	-0.4	0.71	-0.21	0.59	0.03	0.58		0.63	0.58	0.08	HCA
MCK	-0.51	0.29	-0.43	0.51	0.14	0.64	0.63		0.71	-0.07	MCK
AMGN	-0.63	0.59	-0.18	0.76	-0.13	0.87	0.58	0.71		0.43	AMGN
VRTX	-0.48	0.36	0.34	0.56	-0.64	0.53	0.08	-0.07	0.43		VRTX
	BSX	MDT	DHR	PFE	SNY	GILD	HCA	MCK	AMGN	VRTX

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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

AMGN	+ 0.87	GILD
GILD	+ 0.85	PFE
AMGN	+ 0.76	PFE
HCA	+ 0.71	MDT
AMGN	+ 0.71	MCK
MCK	+ 0.64	GILD

High negative correlations

PFE	- 0.76	BSX
GILD	- 0.75	BSX
VRTX	- 0.64	SNY
AMGN	- 0.63	BSX
MCK	- 0.51	BSX
VRTX	- 0.48	BSX

Risk-Adjusted Indicators

There is a big difference between Stryker Stock performing well and Stryker 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 Stryker'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
BSX	1.41	(0.40)	0.00	1.98	0.00	0.00	2.42	(2.82)	21.15
MDT	0.93	0.17	0.10	1.13	0.69	(1.17)	2.41	(1.30)	6.95
DHR	1.10	(0.01)	(0.02)	0.08	1.41	(1.11)	2.30	(2.19)	8.05
PFE	1.16	0.13	0.08	0.23	1.24	(1.24)	2.63	(2.42)	7.97
SNY	1.03	(0.02)	0.00	(0.12)	0.00	0.00	1.87	(2.19)	5.92
GILD	1.48	0.35	0.17	1.55	1.31	(1.71)	3.65	(2.71)	6.94
HCA	1.37	0.20	0.06	(3.09)	1.59	(1.45)	3.09	(2.89)	9.97
MCK	1.22	0.21	0.06	(0.48)	1.31	(1.37)	1.95	(2.82)	19.34
AMGN	1.34	0.17	0.09	0.30	1.42	(1.40)	3.81	(2.63)	11.13
VRTX	1.34	0.07	0.05	0.16	1.34	(1.56)	4.17	(2.49)	9.91

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