Agilent Technologies Correlations

A Stock

USD 103.00 6.67 6.08%

The current 90-days correlation between Agilent Technologies and Illumina is -0.08 (i.e., Good diversification). The correlation of Agilent Technologies 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.

Agilent Technologies Correlation With Market

Poor diversification

The correlation between Agilent Technologies and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Agilent Technologies and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Agilent Technologies. 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 information on how to trade Agilent Stock refer to our How to Trade Agilent Stock guide.

Moving together with Agilent Stock

0.73	ME	23Andme Holding	Pair Corr
0.71	VANI	Vivani Medical	Pair Corr
0.88	DNLI	Denali Therapeutics	Pair Corr
0.86	VCEL	Vericel Corp Ord	Pair Corr
0.89	VCYT	Veracyte	Pair Corr
0.69	VERV	Verve Therapeutics	Pair Corr
0.75	VERA	Vera Therapeutics	Pair Corr
0.82	DRTS	Alpha Tau Medical	Pair Corr
0.73	CDIOW	Cardio Diagnostics	Pair Corr
0.69	SABSW	SAB Biotherapeutics	Pair Corr
0.61	VKTX	Viking Therapeutics	Pair Corr
0.68	VRAX	Virax Biolabs Group	Pair Corr
0.72	VRCA	Verrica Pharmaceuticals	Pair Corr
0.78	VRDN	Viridian Therapeutics	Pair Corr
0.77	VRPX	Virpax Pharmaceuticals	Pair Corr
0.62	VTGN	VistaGen Therapeutics	Pair Corr
0.77	VTRS	Viatris	Pair Corr
0.77	VTYX	Ventyx Biosciences	Pair Corr

Moving against Agilent Stock

0.48	VALN	Valneva SE ADR	Pair Corr
0.48	DVAX	Dynavax Technologies	Pair Corr
0.62	VRTX	Vertex Pharmaceuticals	Pair Corr
0.62	EDSA	Edesa Biotech	Pair Corr
0.54	KTTAW	Pasithea Therapeutics	Pair Corr
0.41	VRNA	Verona Pharma PLC	Pair Corr
0.38	VSTM	Verastem	Pair Corr
0.32	VNDA	Vanda Pharmaceuticals	Pair Corr

Related Correlations Analysis

	DHR	ILMN	IDXX	WAT	TMO	GH	MTD	CRL	RVTY
DHR		0.85	-0.09	0.65	0.69	-0.11	0.48	0.61	0.73	DHR
ILMN	0.85		0.16	0.75	0.81	-0.02	0.62	0.48	0.82	ILMN
IDXX	-0.09	0.16		0.44	0.46	0.28	0.68	0.05	0.38	IDXX
WAT	0.65	0.75	0.44		0.95	0.25	0.91	0.4	0.94	WAT
TMO	0.69	0.81	0.46	0.95		0.29	0.92	0.45	0.96	TMO
GH	-0.11	-0.02	0.28	0.25	0.29		0.32	-0.4	0.19	GH
MTD	0.48	0.62	0.68	0.91	0.92	0.32		0.38	0.89	MTD
CRL	0.61	0.48	0.05	0.4	0.45	-0.4	0.38		0.53	CRL
RVTY	0.73	0.82	0.38	0.94	0.96	0.19	0.89	0.53		RVTY
	DHR	ILMN	IDXX	WAT	TMO	GH	MTD	CRL	RVTY

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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

RVTY	+ 0.96	TMO
TMO	+ 0.95	WAT
RVTY	+ 0.94	WAT
MTD	+ 0.92	TMO
MTD	+ 0.91	WAT
RVTY	+ 0.89	MTD

High negative correlations

CRL	- 0.4	GH
GH	- 0.11	DHR
IDXX	- 0.09	DHR
GH	- 0.02	ILMN

Risk-Adjusted Indicators

There is a big difference between Agilent Stock performing well and Agilent Technologies 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 Agilent Technologies' 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
DHR	1.33	(0.38)	0.00	(1.93)	0.00	0.00	2.26	(3.54)	12.14
ILMN	2.08	(0.99)	0.00	5.71	0.00	0.00	3.38	(5.47)	15.07
IDXX	1.38	(0.12)	0.00	(59.61)	0.00	0.00	1.92	(3.35)	15.28
WAT	1.60	(0.22)	0.00	(7.71)	0.00	0.00	2.95	(3.41)	10.99
TMO	1.25	(0.28)	0.00	(1.47)	0.00	0.00	2.40	(2.94)	13.61
GH	3.25	0.25	0.12	(0.87)	3.49	(3.71)	5.54	(5.84)	32.66
MTD	1.43	(0.27)	0.00	(1.35)	0.00	0.00	2.34	(3.56)	11.27
CRL	1.86	(0.54)	0.00	1.80	0.00	0.00	3.86	(4.85)	12.43
RVTY	1.55	(0.29)	0.00	(4.26)	0.00	0.00	2.93	(4.05)	13.62

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