Teleflex Incorporated Correlations

TFX Stock

USD 122.40 0.36 0.29%

The current 90-days correlation between Teleflex Incorporated and Merit Medical Systems is 0.27 (i.e., Modest diversification). The correlation of Teleflex Incorporated 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Teleflex Incorporated Correlation With Market

Weak diversification

The correlation between Teleflex Incorporated and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Teleflex Incorporated and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Teleflex Stock

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

For more information on how to buy Teleflex Stock please use our How to Invest in Teleflex Incorporated guide.

Moving together with Teleflex Stock

0.72

KNTK

Kinetik Holdings

Pair Corr

Moving against Teleflex Stock

0.56	MRLWF	Marlowe Plc	Pair Corr
0.41	KO	Coca Cola	Pair Corr
0.4	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	MMSI	BLCO	PTCT	STVN	KRYS	PCVX	ARWR	TGTX	ALKS	CRSP
MMSI		0.58	0.63	-0.45	0.61	0.37	0.47	-0.56	-0.36	-0.71	MMSI
BLCO	0.58		0.66	-0.62	0.87	0.36	0.9	-0.69	-0.55	-0.56	BLCO
PTCT	0.63	0.66		-0.72	0.76	0.83	0.67	-0.76	-0.6	-0.83	PTCT
STVN	-0.45	-0.62	-0.72		-0.86	-0.6	-0.78	0.82	0.72	0.67	STVN
KRYS	0.61	0.87	0.76	-0.86		0.53	0.95	-0.78	-0.75	-0.63	KRYS
PCVX	0.37	0.36	0.83	-0.6	0.53		0.42	-0.63	-0.49	-0.64	PCVX
ARWR	0.47	0.9	0.67	-0.78	0.95	0.42		-0.69	-0.72	-0.52	ARWR
TGTX	-0.56	-0.69	-0.76	0.82	-0.78	-0.63	-0.69		0.61	0.82	TGTX
ALKS	-0.36	-0.55	-0.6	0.72	-0.75	-0.49	-0.72	0.61		0.56	ALKS
CRSP	-0.71	-0.56	-0.83	0.67	-0.63	-0.64	-0.52	0.82	0.56		CRSP
	MMSI	BLCO	PTCT	STVN	KRYS	PCVX	ARWR	TGTX	ALKS	CRSP

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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

ARWR	+ 0.95	KRYS
ARWR	+ 0.9	BLCO
KRYS	+ 0.87	BLCO
PCVX	+ 0.83	PTCT
TGTX	+ 0.82	STVN
CRSP	+ 0.82	TGTX

High negative correlations

KRYS	- 0.86	STVN
CRSP	- 0.83	PTCT
TGTX	- 0.78	KRYS
ARWR	- 0.78	STVN
TGTX	- 0.76	PTCT
ALKS	- 0.75	KRYS

Risk-Adjusted Indicators

There is a big difference between Teleflex Stock performing well and Teleflex Incorporated 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 Teleflex Incorporated'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
MMSI	1.02	0.02	0.00	0.09	1.27	(1.08)	2.12	(1.92)	8.06
BLCO	1.55	0.07	0.05	0.10	1.68	(1.71)	3.50	(2.93)	10.48
PTCT	1.50	0.30	0.14	0.36	1.84	(1.69)	3.88	(2.47)	13.88
STVN	2.05	(0.41)	0.00	(0.19)	0.00	0.00	5.70	(4.31)	12.08
KRYS	1.48	0.45	0.28	0.45	1.18	(1.67)	3.66	(2.41)	7.77
PCVX	2.45	0.37	0.14	0.46	2.32	(3.03)	6.30	(3.42)	15.14
ARWR	3.29	1.00	0.32	0.52	2.63	(3.79)	9.42	(5.54)	32.02
TGTX	1.65	(0.37)	0.00	(0.25)	0.00	0.00	3.20	(3.46)	9.71
ALKS	1.57	(0.14)	0.00	(0.07)	0.00	0.00	3.08	(3.38)	11.41
CRSP	2.85	(0.30)	0.00	(0.16)	0.00	0.00	6.97	(6.54)	19.04

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