Teleflex Incorporated Correlations

TFX Stock

USD 105.48 0.15 0.14%

The current 90-days correlation between Teleflex Incorporated and Merit Medical Systems is 0.2 (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

Good diversification

The correlation between Teleflex Incorporated and DJI is -0.05 (i.e., Good 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 price.

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

Moving against Teleflex Stock

0.71	002382	Blue Sail Medical	Pair Corr
0.47	688358	Chison Medical Techn	Pair Corr
0.43	TRLS	Trellus Health plc	Pair Corr
0.43	688139	Qingdao Haier Biomedical	Pair Corr
0.42	600587	Shinva Medical Instrument	Pair Corr
0.4	301370	GKHT Medical Technology	Pair Corr
0.35	300869	Contec Medical Systems	Pair Corr
0.32	688198	Beijing Balance Medical	Pair Corr
0.31	300981	Zhonghong Pulin Medical	Pair Corr
0.62	300314	Ningbo David Medical	Pair Corr
0.57	002950	Allmed Medical Products	Pair Corr
0.54	TLT	Theralase Technologies	Pair Corr
0.53	300562	Guangdong Transtek	Pair Corr
0.52	688085	Shanghai Sanyou Medical	Pair Corr
0.43	605369	Zhejiang Gongdong Medical	Pair Corr
0.4	CREO	Creo Medical Group	Pair Corr
0.36	688108	Sino Medical Sciences	Pair Corr
0.61	688277	Tinavi Medical Techn	Pair Corr
0.58	002432	Andon Health	Pair Corr
0.4	688607	CareRay Digital Medical	Pair Corr
0.39	301087	Cofoe Medical Technology	Pair Corr
0.35	CSX	Cleanspace Holdings	Pair Corr
0.32	688314	Kontour Medical Tech	Pair Corr

Related Correlations Analysis

	MMSI	BLCO	PTCT	STVN	KRYS	PCVX	ARWR	TGTX	ALKS	CRSP
MMSI		-0.07	0.22	0.29	-0.27	-0.37	-0.04	0.0	-0.42	-0.11	MMSI
BLCO	-0.07		0.33	-0.63	0.81	0.23	0.89	-0.64	0.0	-0.1	BLCO
PTCT	0.22	0.33		-0.41	0.36	0.5	0.44	-0.4	-0.29	-0.63	PTCT
STVN	0.29	-0.63	-0.41		-0.84	-0.67	-0.71	0.66	-0.19	0.46	STVN
KRYS	-0.27	0.81	0.36	-0.84		0.53	0.83	-0.64	0.19	-0.22	KRYS
PCVX	-0.37	0.23	0.5	-0.67	0.53		0.31	-0.24	0.36	-0.33	PCVX
ARWR	-0.04	0.89	0.44	-0.71	0.83	0.31		-0.58	-0.14	-0.11	ARWR
TGTX	0.0	-0.64	-0.4	0.66	-0.64	-0.24	-0.58		0.17	0.5	TGTX
ALKS	-0.42	0.0	-0.29	-0.19	0.19	0.36	-0.14	0.17		0.09	ALKS
CRSP	-0.11	-0.1	-0.63	0.46	-0.22	-0.33	-0.11	0.5	0.09		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	+ 0.89	BLCO
ARWR	+ 0.83	KRYS
KRYS	+ 0.81	BLCO
TGTX	+ 0.66	STVN
PCVX	+ 0.53	KRYS
PCVX	+ 0.5	PTCT

High negative correlations

KRYS	- 0.84	STVN
ARWR	- 0.71	STVN
PCVX	- 0.67	STVN
TGTX	- 0.64	KRYS
TGTX	- 0.64	BLCO
CRSP	- 0.63	PTCT

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	1.26	(0.07)	0.00	(0.06)	0.00	0.00	2.73	(2.61)	12.72
BLCO	1.36	0.07	0.03	0.22	1.55	(1.60)	2.96	(2.93)	10.35
PTCT	1.45	0.17	0.07	0.23	2.12	(1.48)	3.88	(3.49)	13.88
STVN	2.01	(0.82)	0.00	(0.36)	0.00	0.00	4.36	(4.32)	15.63
KRYS	1.69	0.58	0.37	0.68	1.09	(2.06)	4.46	(2.43)	10.86
PCVX	2.46	0.32	0.12	0.36	2.46	(3.09)	6.38	(3.46)	15.14
ARWR	3.46	0.91	0.26	0.46	2.88	(3.81)	10.85	(5.77)	32.02
TGTX	1.87	(0.18)	0.00	(0.20)	0.00	0.00	3.96	(3.85)	11.58
ALKS	1.64	0.20	0.09	0.26	1.99	(1.84)	3.82	(2.30)	11.41
CRSP	2.56	(0.39)	0.00	(0.20)	0.00	0.00	5.31	(5.12)	19.81

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