Waters Correlations

WAT Stock

USD 373.72 0.29 0.08%

The current 90-days correlation between Waters and Molecular Partners AG is 0.25 (i.e., Modest diversification). The correlation of Waters 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.

Waters Correlation With Market

Modest diversification

The correlation between Waters and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Waters and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Waters. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with Waters Stock

0.63	ESPR	Esperion Therapeutics Buyout Trend	Pair Corr
0.75	BMY	Bristol Myers Squibb	Pair Corr
0.61	XCUR	Exicure	Pair Corr
0.71	GILD	Gilead Sciences	Pair Corr

Moving against Waters Stock

0.73	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.71	VALN	Valneva SE ADR	Pair Corr
0.67	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.64	LLY	Eli Lilly Sell-off Trend	Pair Corr
0.62	ERNA	Eterna Therapeutics	Pair Corr
0.58	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.55	ME	23Andme Holding	Pair Corr
0.45	VRAX	Virax Biolabs Group	Pair Corr
0.37	HCM	HUTCHMED DRC	Pair Corr
0.69	INDP	Indaptus Therapeutics	Pair Corr
0.69	CINGW	Cingulate Warrants	Pair Corr
0.64	SXTPW	60 Degrees Pharmaceu	Pair Corr
0.59	MBIO	Mustang Bio	Pair Corr
0.55	TIL	Instil Bio	Pair Corr
0.48	GPCR	Structure Therapeutics	Pair Corr
0.39	IMAB	I Mab	Pair Corr
0.38	SLS	Sellas Life Sciences	Pair Corr
0.36	INBX	Inhibrx Symbol Change	Pair Corr
0.34	GNFT	Genfit	Pair Corr

Related Correlations Analysis

	MOLN	MNOV	ANEB	STTK	ELYM	IPSC	AVTE	ADAG	ACRV	RZLT
MOLN		-0.18	-0.36	-0.5	-0.54	-0.37	0.54	0.53	0.38	0.64	MOLN
MNOV	-0.18		-0.42	-0.13	-0.29	0.12	0.22	-0.64	-0.6	-0.39	MNOV
ANEB	-0.36	-0.42		0.66	0.81	0.49	-0.76	0.25	0.24	-0.09	ANEB
STTK	-0.5	-0.13	0.66		0.84	0.53	-0.69	0.0	0.05	-0.26	STTK
ELYM	-0.54	-0.29	0.81	0.84		0.57	-0.85	0.07	0.1	-0.25	ELYM
IPSC	-0.37	0.12	0.49	0.53	0.57		-0.6	-0.09	0.12	-0.17	IPSC
AVTE	0.54	0.22	-0.76	-0.69	-0.85	-0.6		0.01	-0.05	0.34	AVTE
ADAG	0.53	-0.64	0.25	0.0	0.07	-0.09	0.01		0.78	0.7	ADAG
ACRV	0.38	-0.6	0.24	0.05	0.1	0.12	-0.05	0.78		0.63	ACRV
RZLT	0.64	-0.39	-0.09	-0.26	-0.25	-0.17	0.34	0.7	0.63		RZLT
	MOLN	MNOV	ANEB	STTK	ELYM	IPSC	AVTE	ADAG	ACRV	RZLT

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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

ELYM	+ 0.84	STTK
ELYM	+ 0.81	ANEB
ACRV	+ 0.78	ADAG
RZLT	+ 0.7	ADAG
STTK	+ 0.66	ANEB
RZLT	+ 0.64	MOLN

High negative correlations

AVTE	- 0.85	ELYM
AVTE	- 0.76	ANEB
AVTE	- 0.69	STTK
ADAG	- 0.64	MNOV
AVTE	- 0.6	IPSC
ACRV	- 0.6	MNOV

Risk-Adjusted Indicators

There is a big difference between Waters Stock performing well and Waters 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 Waters' 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
MOLN	4.28	0.12	0.03	0.14	4.51	(5.91)	9.38	(7.22)	52.92
MNOV	4.18	0.56	0.09	(0.36)	3.94	(6.21)	9.95	(8.28)	61.30
ANEB	4.69	(0.21)	0.00	0.32	0.00	0.00	7.64	(11.89)	76.00
STTK	5.22	(1.36)	0.00	(2.20)	0.00	0.00	10.62	(9.82)	49.02
ELYM	3.62	(1.04)	0.00	1.76	0.00	0.00	6.00	(9.35)	22.16
IPSC	4.01	(0.28)	0.00	(0.33)	0.00	0.00	7.44	(7.41)	28.48
AVTE	2.38	0.44	0.17	0.63	1.99	(3.31)	5.58	(3.86)	19.11
ADAG	4.73	(0.35)	0.00	(1.28)	0.00	0.00	8.13	(14.29)	41.45
ACRV	2.62	(0.41)	0.00	(0.21)	0.00	0.00	4.83	(7.65)	19.02
RZLT	2.57	(0.25)	0.00	(0.28)	0.00	0.00	5.54	(5.54)	16.12

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