THERMO FISHER (Germany) Statistic Functions Pearson Correlation Coefficient
| TN8 Stock | 492.50 1.20 0.24% |
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Incorrect Input. Please change your parameters or increase the time horizon required for running this function. The output start index for this execution was zero with a total number of output elements of zero. The Pearsons Correlation Coefficient is one of the most common measures of correlation in financial statistics. It shows the linear relationship between price series of THERMO FISHER SCIEN and its benchmark or peer.
THERMO FISHER Technical Analysis Modules
Most technical analysis of THERMO FISHER help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for THERMO from various momentum indicators to cycle indicators. When you analyze THERMO charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
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About THERMO FISHER Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of THERMO FISHER SCIEN. We use our internally-developed statistical techniques to arrive at the intrinsic value of THERMO FISHER SCIEN based on widely used predictive technical indicators. In general, we focus on analyzing THERMO Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build THERMO FISHER's daily price indicators and compare them against related drivers, such as statistic functions and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of THERMO FISHER's intrinsic value. In addition to deriving basic predictive indicators for THERMO FISHER, we also check how macroeconomic factors affect THERMO FISHER price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of THERMO FISHER's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
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THERMO FISHER SCIEN pair trading
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if THERMO FISHER position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in THERMO FISHER will appreciate offsetting losses from the drop in the long position's value.THERMO FISHER Pair Trading
THERMO FISHER SCIEN Pair Trading Analysis
The ability to find closely correlated positions to THERMO FISHER could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace THERMO FISHER when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back THERMO FISHER - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling THERMO FISHER SCIEN to buy it.
The correlation of THERMO FISHER 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as THERMO FISHER moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if THERMO FISHER SCIEN moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for THERMO FISHER can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for THERMO Stock Analysis
When running THERMO FISHER's price analysis, check to measure THERMO FISHER's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy THERMO FISHER is operating at the current time. Most of THERMO FISHER's value examination focuses on studying past and present price action to predict the probability of THERMO FISHER's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move THERMO FISHER's price. Additionally, you may evaluate how the addition of THERMO FISHER to your portfolios can decrease your overall portfolio volatility.