Guardant Health Correlations

GH Stock

USD 41.51 1.98 4.55%

The current 90-days correlation between Guardant Health and Natera Inc is 0.72 (i.e., Poor diversification). The correlation of Guardant Health 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.

Guardant Health Correlation With Market

Weak diversification

The correlation between Guardant Health and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guardant Health and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Guardant Health. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

For more detail on how to invest in Guardant Stock please use our How to Invest in Guardant Health guide.

Moving together with Guardant Stock

0.71	VEEV	Veeva Systems Class	Pair Corr
0.65	EHAB	Enhabit	Pair Corr
0.72	AGL	agilon health	Pair Corr
0.64	ALC	Alcon AG Sell-off Trend	Pair Corr

Moving against Guardant Stock

0.61	ESTA	Establishment Labs	Pair Corr
0.59	FLGT	Fulgent Genetics	Pair Corr
0.47	OM	Outset Medical Upward Rally	Pair Corr
0.45	EUDA	EUDA Health Holdings	Pair Corr
0.42	DRIO	DarioHealth Corp	Pair Corr
0.42	VNRX	Volitionrx	Pair Corr
0.4	VTAK	Catheter Precision	Pair Corr
0.38	EMBC	Embecta Corp	Pair Corr
0.33	FIGS	Figs Inc	Pair Corr
0.32	ELAB	Elevai Labs, Common	Pair Corr
0.31	VERO	Venus Concept	Pair Corr
0.31	VVOS	Vivos Therapeutics	Pair Corr
0.31	WORX	Scworx Corp	Pair Corr
0.61	AWH	Aspira Womens Health	Pair Corr
0.45	EVH	Evolent Health	Pair Corr
0.43	ENZ	Enzo Biochem	Pair Corr
0.35	FOXO	FOXO Technologies	Pair Corr
0.33	CCM	Concord Medical Services Downward Rally	Pair Corr
0.31	DHR	Danaher	Pair Corr

Related Correlations Analysis

	ILMN	TWST	NTRA	CDNA	MYGN	CSTL	PSNL	A	TMO
ILMN		0.75	0.77	0.69	0.73	0.81	0.84	0.85	0.73	ILMN
TWST	0.75		0.81	0.68	0.61	0.75	0.71	0.83	0.77	TWST
NTRA	0.77	0.81		0.92	0.83	0.91	0.76	0.85	0.75	NTRA
CDNA	0.69	0.68	0.92		0.88	0.88	0.79	0.81	0.67	CDNA
MYGN	0.73	0.61	0.83	0.88		0.89	0.87	0.72	0.51	MYGN
CSTL	0.81	0.75	0.91	0.88	0.89		0.86	0.8	0.64	CSTL
PSNL	0.84	0.71	0.76	0.79	0.87	0.86		0.75	0.54	PSNL
A	0.85	0.83	0.85	0.81	0.72	0.8	0.75		0.93	A
TMO	0.73	0.77	0.75	0.67	0.51	0.64	0.54	0.93		TMO
	ILMN	TWST	NTRA	CDNA	MYGN	CSTL	PSNL	A	TMO

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Risk-Adjusted Indicators

There is a big difference between Guardant Stock performing well and Guardant Health 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 Guardant Health'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ILMN	1.92	(0.80)	10.78	3.38	(5.40)	15.07
TWST	3.00	(0.29)	2.51	6.08	(6.83)	14.75
NTRA	2.10	(0.08)	(0.10)	4.36	(4.34)	13.77
CDNA	3.01	(0.06)	(0.07)	5.88	(6.77)	19.59
MYGN	2.52	(0.56)	(0.82)	4.14	(5.34)	26.72
CSTL	2.45	(0.37)	(1.55)	4.51	(6.33)	23.81
PSNL	4.70	(0.57)	(0.24)	9.62	(7.64)	26.78
A	1.18	(0.18)	(0.22)	2.92	(2.59)	9.03
TMO	1.12	(0.08)	(0.16)	2.40	(2.39)	10.04

Guardant Health Corporate Management

Jennifer Higgins	Senior Affairs	Profile
Stephen Murphy	Senior Marketing	Profile
John Saia	Chief Secretary	Profile
Christopher Freeman	Chief Oncology	Profile
John JD	Chief Secretary	Profile
Zarak Khurshid	Vice Relations	Profile

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