Dentsply Sirona Correlations

XRAY Stock

USD 18.64 0.12 0.65%

The current 90-days correlation between Dentsply Sirona and Merit Medical Systems is 0.14 (i.e., Average diversification). The correlation of Dentsply Sirona 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.

Dentsply Sirona Correlation With Market

Modest diversification

The correlation between Dentsply Sirona and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dentsply Sirona 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 Dentsply Sirona. 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 Dentsply Stock please use our How to Invest in Dentsply Sirona guide.

Moving together with Dentsply Stock

0.82	AGL	agilon health	Pair Corr
0.79	AMN	AMN Healthcare Services	Pair Corr
0.89	EVH	Evolent Health	Pair Corr
0.76	PHG	Koninklijke Philips	Pair Corr
0.71	ADUS	Addus HomeCare	Pair Corr
0.63	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.8	ME	23Andme Holding	Pair Corr
0.62	VALN	Valneva SE ADR Downward Rally	Pair Corr
0.73	EXAS	EXACT Sciences	Pair Corr

Moving against Dentsply Stock

0.83	FOXO	FOXO Technologies	Pair Corr
0.78	DOCS	Doximity	Pair Corr
0.74	ITGR	Integer Holdings Corp	Pair Corr
0.61	VMD	Viemed Healthcare	Pair Corr
0.5	VEEV	Veeva Systems Class	Pair Corr
0.46	ENOV	Enovis Corp	Pair Corr
0.78	NXGL	Nexgel Inc	Pair Corr
0.77	CRVL	CorVel Corp Normal Trading	Pair Corr
0.67	MMSI	Merit Medical Systems	Pair Corr
0.63	OMIC	Singular Genomics Systems	Pair Corr
0.85	EXEL	Exelixis	Pair Corr
0.8	BMY	Bristol Myers Squibb	Pair Corr
0.51	EWTX	Edgewise Therapeutics	Pair Corr
0.36	KZR	Kezar Life Sciences	Pair Corr

Related Correlations Analysis

	MMSI	ICUI	COO	ANGO	TFX	WST	ALC	RMD	HOLX	HAE
MMSI		0.16	0.0	0.09	-0.74	0.6	-0.61	0.38	-0.36	0.72	MMSI
ICUI	0.16		0.61	-0.35	-0.01	-0.14	0.19	0.2	0.06	0.1	ICUI
COO	0.0	0.61		-0.02	0.42	-0.22	0.54	0.53	0.51	-0.34	COO
ANGO	0.09	-0.35	-0.02		0.27	0.27	0.29	0.15	0.16	0.04	ANGO
TFX	-0.74	-0.01	0.42	0.27		-0.61	0.9	-0.01	0.52	-0.72	TFX
WST	0.6	-0.14	-0.22	0.27	-0.61		-0.52	0.18	-0.25	0.56	WST
ALC	-0.61	0.19	0.54	0.29	0.9	-0.52		0.13	0.5	-0.66	ALC
RMD	0.38	0.2	0.53	0.15	-0.01	0.18	0.13		0.25	-0.05	RMD
HOLX	-0.36	0.06	0.51	0.16	0.52	-0.25	0.5	0.25		-0.64	HOLX
HAE	0.72	0.1	-0.34	0.04	-0.72	0.56	-0.66	-0.05	-0.64		HAE
	MMSI	ICUI	COO	ANGO	TFX	WST	ALC	RMD	HOLX	HAE

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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

ALC	+ 0.9	TFX
HAE	+ 0.72	MMSI
COO	+ 0.61	ICUI
WST	+ 0.6	MMSI
HAE	+ 0.56	WST
ALC	+ 0.54	COO

High negative correlations

TFX	- 0.74	MMSI
HAE	- 0.72	TFX
HAE	- 0.66	ALC
HAE	- 0.64	HOLX
WST	- 0.61	TFX
ALC	- 0.61	MMSI

Risk-Adjusted Indicators

There is a big difference between Dentsply Stock performing well and Dentsply Sirona 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 Dentsply Sirona'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	0.88	0.15	0.10	0.37	0.71	(0.95)	2.11	(1.23)	6.42
ICUI	1.22	(0.01)	0.01	0.09	1.32	(1.30)	2.87	(2.38)	7.25
COO	0.87	0.07	0.00	0.30	0.87	(0.94)	1.39	(1.64)	13.98
ANGO	2.12	(0.07)	0.00	0.20	0.00	0.00	3.71	(4.03)	19.00
TFX	1.15	(0.40)	0.00	(0.40)	0.00	0.00	1.71	(1.92)	17.00
WST	1.78	0.00	0.01	0.10	2.07	(2.00)	4.50	(3.02)	22.42
ALC	0.84	(0.20)	0.00	(0.35)	0.00	0.00	1.69	(2.03)	8.43
RMD	1.18	0.11	0.02	0.59	1.56	(1.21)	2.08	(2.59)	12.38
HOLX	0.88	0.01	0.00	0.08	0.00	0.00	1.81	(1.79)	8.14
HAE	1.44	0.10	0.07	0.21	1.37	(1.69)	4.24	(2.10)	14.50

Dentsply Sirona Corporate Management

Erania Brackett	SVP Sustainability	Profile
Andreas Frank	Executive Officer	Profile
Dan Workinger	Treasurer	Profile
Richard Wagner	Chief Officer	Profile
Richard JD	General Development	Profile
Cheree Johnson	Chief VP	Profile

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