Haemonetics Correlations

HAE Stock

USD 48.81 0.07 0.14%

The current 90-days correlation between Haemonetics and ICU Medical is 0.23 (i.e., Modest diversification). The correlation of Haemonetics 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.

Haemonetics Correlation With Market

Weak diversification

The correlation between Haemonetics and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Haemonetics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Haemonetics Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Haemonetics. 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 Haemonetics Stock refer to our How to Trade Haemonetics Stock guide.

Moving together with Haemonetics Stock

0.81	OM	Outset Medical	Pair Corr
0.7	VERO	Venus Concept	Pair Corr
0.63	DRIO	DarioHealth Corp Trending	Pair Corr
0.74	DXCM	DexCom Inc	Pair Corr
0.61	VNRX	Volitionrx	Pair Corr
0.89	VSEE	VSee Health,	Pair Corr
0.82	VTAK	Catheter Precision	Pair Corr
0.86	ECOR	Electrocore LLC	Pair Corr
0.65	VVOS	Vivos Therapeutics	Pair Corr
0.78	ELAB	Elevai Labs, Common	Pair Corr
0.72	ESTA	Establishment Labs	Pair Corr
0.85	EUDA	EUDA Health Holdings	Pair Corr
0.83	WORX	Scworx Corp	Pair Corr
0.86	FEMY	Femasys	Pair Corr
0.86	AGL	agilon health	Pair Corr
0.8	ALC	Alcon AG	Pair Corr
0.81	XAIR	Beyond Air	Pair Corr

Moving against Haemonetics Stock

0.92	VREX	Varex Imaging Corp	Pair Corr
0.92	EMBC	Embecta Corp	Pair Corr
0.89	MD	Mednax Inc	Pair Corr
0.88	ENSG	Ensign Group	Pair Corr
0.85	GH	Guardant Health	Pair Corr
0.84	LH	Laboratory	Pair Corr
0.84	DOCS	Doximity	Pair Corr
0.65	ELMD	Electromed	Pair Corr
0.58	EDAP	EDAP TMS SA	Pair Corr
0.56	EHAB	Enhabit	Pair Corr
0.38	WGRX	Wellgistics Health,	Pair Corr
0.33	EKSO	Ekso Bionics Holdings	Pair Corr
0.88	FLGT	Fulgent Genetics	Pair Corr
0.84	DGX	Quest Diagnostics	Pair Corr
0.82	CVS	CVS Health Corp	Pair Corr
0.81	BDX	Becton Dickinson	Pair Corr
0.78	FIGS	Figs Inc	Pair Corr
0.69	AVR	Anteris Technologies	Pair Corr
0.67	CON	Concentra Group Holdings	Pair Corr
0.52	BVS	Bioventus	Pair Corr
0.45	FORA	Forian Inc	Pair Corr
0.44	ABT	Abbott Laboratories	Pair Corr

Related Correlations Analysis

	ICUI	MMSI	COO	ANGO	ATR	CNMD	IART
ICUI		0.5	-0.03	0.3	0.31	0.18	0.13	ICUI
MMSI	0.5		0.3	0.06	0.36	0.56	0.14	MMSI
COO	-0.03	0.3		-0.66	0.66	0.15	-0.48	COO
ANGO	0.3	0.06	-0.66		-0.55	-0.09	0.7	ANGO
ATR	0.31	0.36	0.66	-0.55		-0.1	-0.67	ATR
CNMD	0.18	0.56	0.15	-0.09	-0.1		0.5	CNMD
IART	0.13	0.14	-0.48	0.7	-0.67	0.5		IART
	ICUI	MMSI	COO	ANGO	ATR	CNMD	IART

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

IART	+ 0.7	ANGO
ATR	+ 0.66	COO
CNMD	+ 0.56	MMSI
MMSI	+ 0.5	ICUI
IART	+ 0.5	CNMD
ATR	+ 0.36	MMSI

High negative correlations

IART	- 0.67	ATR
ANGO	- 0.66	COO
ATR	- 0.55	ANGO
IART	- 0.48	COO
CNMD	- 0.1	ATR
CNMD	- 0.09	ANGO

Risk-Adjusted Indicators

There is a big difference between Haemonetics Stock performing well and Haemonetics 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 Haemonetics' 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
ICUI	1.97	(0.24)	0.00	(0.07)	0.00	0.00	3.76	(4.21)	16.90
MMSI	1.33	(0.23)	0.00	(0.19)	0.00	0.00	2.51	(3.13)	14.94
COO	1.54	(0.14)	0.00	(0.03)	0.00	0.00	2.77	(2.60)	15.84
ANGO	1.75	0.07	0.05	0.12	2.48	(1.88)	4.00	(3.64)	15.19
ATR	0.88	(0.19)	0.00	0.43	0.00	0.00	1.56	(2.05)	12.44
CNMD	1.98	(0.28)	0.00	(0.07)	0.00	0.00	3.84	(4.42)	10.36
IART	2.84	0.03	0.06	0.09	3.19	(3.12)	6.22	(5.49)	16.75

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