Guardant Health Correlations

GH Stock

USD 46.25 0.61 1.34%

The current 90-days correlation between Guardant Health and EXACT Sciences is -0.18 (i.e., Good 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 0.34 (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.

Build AI portfolio with Guardant Stock

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

0.67	VNRX	Volitionrx	Pair Corr
0.66	MDAI	Spectral AI	Pair Corr

Moving against Guardant Stock

0.58	EMBC	Embecta Corp	Pair Corr
0.43	EKSO	Ekso Bionics Holdings Earnings Call This Week	Pair Corr
0.4	EHAB	Enhabit	Pair Corr
0.36	MD	Mednax Inc	Pair Corr
0.35	ELAB	Elevai Labs, Common	Pair Corr
0.31	EDAP	EDAP TMS SA	Pair Corr
0.66	NEOG	Neogen Earnings Call This Week	Pair Corr
0.59	MLSS	Milestone Scientific	Pair Corr
0.56	NXLIW	Nexalin Technology	Pair Corr
0.55	NIVF	NewGenIvf Group	Pair Corr
0.52	MODD	Modular Medical	Pair Corr
0.48	MNDR	Mobile health Network	Pair Corr
0.48	VALN	Valneva SE ADR	Pair Corr
0.36	EQ	Equillium	Pair Corr

Related Correlations Analysis

	EXAS	NTRA	CDNA	ILMN	TWST	TXG	NVCR
EXAS		0.41	0.08	0.38	-0.67	0.32	0.38	EXAS
NTRA	0.41		0.62	0.35	-0.02	0.33	0.2	NTRA
CDNA	0.08	0.62		0.34	0.27	0.33	0.17	CDNA
ILMN	0.38	0.35	0.34		0.24	0.98	0.01	ILMN
TWST	-0.67	-0.02	0.27	0.24		0.29	-0.16	TWST
TXG	0.32	0.33	0.33	0.98	0.29		-0.07	TXG
NVCR	0.38	0.2	0.17	0.01	-0.16	-0.07		NVCR
	EXAS	NTRA	CDNA	ILMN	TWST	TXG	NVCR

Click cells to compare fundamentals

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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

TXG	+ 0.98	ILMN
CDNA	+ 0.62	NTRA
NTRA	+ 0.41	EXAS
ILMN	+ 0.38	EXAS
NVCR	+ 0.38	EXAS
ILMN	+ 0.35	NTRA

High negative correlations

TWST	- 0.67	EXAS
NVCR	- 0.16	TWST
NVCR	- 0.07	TXG
TWST	- 0.02	NTRA

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EXAS	1.92	0.08	0.02	0.26	1.86	(2.37)	3.55	(3.23)	12.91
NTRA	1.72	(0.25)	0.00	(0.09)	0.00	0.00	3.50	(4.49)	10.52
CDNA	3.32	(0.61)	0.00	(0.27)	0.00	0.00	6.51	(6.53)	49.15
ILMN	1.77	0.17	0.11	0.25	2.02	(1.96)	3.53	(3.62)	13.42
TWST	3.01	(0.48)	0.00	(0.05)	0.00	0.00	6.04	(7.89)	15.74
TXG	2.94	0.33	0.11	0.32	3.57	(3.13)	7.07	(5.92)	16.59
NVCR	2.60	(0.26)	(0.03)	0.01	3.26	(3.09)	5.97	(5.55)	18.46

Guardant Health Corporate Management

Jennifer Higgins	Senior Affairs	Profile
Stephen Murphy	Senior Marketing	Profile
Gulshan JD	Senior Officer	Profile
John Saia	Chief Secretary	Profile
Christopher Freeman	Chief Oncology	Profile
John JD	Chief Secretary	Profile

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