Thermo Fisher Correlations
| TMO Stock | MXN 9,837 14.13 0.14% |
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 Scientific 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.
Modest diversification
The correlation between Thermo Fisher Scientific and NYA 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 Thermo Fisher Scientific and NYA in the same portfolio, assuming nothing else is changed.
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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 Scientific to buy it.
Moving against Thermo Stock
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Thermo Stock performing well and Thermo Fisher 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 Thermo Fisher'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MNST | 0.52 | (0.02) | 0.00 | 0.13 | 0.00 | 1.32 | 16.02 | |||
| AMP | 0.49 | 0.13 | 0.04 | 5.57 | 0.46 | 1.41 | 9.17 | |||
| GMXT | 0.83 | (0.08) | 0.00 | (0.79) | 0.00 | 1.59 | 4.92 | |||
| KBH | 0.03 | (0.02) | 0.00 | (3.59) | 0.00 | 0.00 | 0.64 | |||
| MU | 2.29 | 0.49 | 0.13 | (0.44) | 2.26 | 6.03 | 19.36 | |||
| LYGN | 0.65 | (0.06) | 0.00 | (0.53) | 0.00 | 0.00 | 19.13 | |||
| HOTEL | 0.94 | (0.13) | 0.00 | (1.10) | 0.00 | 1.88 | 16.06 | |||
| COF | 0.43 | 0.16 | 0.00 | 0.57 | 0.00 | 0.03 | 8.45 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Thermo Fisher without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Thermo Fisher Corporate Directors
Thermo Fisher corporate directors refer to members of a Thermo Fisher board of directors. The board of directors generally takes responsibility for the Thermo Fisher's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Thermo Fisher's board members must vote for the resolution. The Thermo Fisher board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Tyler Jacks | Independent Director | Profile | |
| James Mullen | Director | Profile | |
| Dion Weisler | Director | Profile | |
| Martiny Harris | Independent Director | Profile |
Already Invested in Thermo Fisher Scientific?
The danger of trading Thermo Fisher Scientific is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Thermo Fisher is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Thermo Fisher. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Thermo Fisher Scientific is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Thermo Fisher Scientific offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Thermo Fisher's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Thermo Fisher Scientific Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Thermo Fisher Scientific Stock: Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Thermo Fisher Scientific. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
Complementary 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.
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