Haemonetics Correlations

HAE Stock

USD 74.41 0.21 0.28%

The current 90-days correlation between Haemonetics and ICU Medical is 0.6 (i.e., Poor 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

Poor diversification

The correlation between Haemonetics and DJI is 0.66 (i.e., Poor 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

0.96	DH	Definitive Healthcare	Pair Corr
0.76	EW	Edwards Lifesciences Corp Earnings Call This Week	Pair Corr
0.88	LH	Laboratory Earnings Call Next Week	Pair Corr
0.89	OM	Outset Medical	Pair Corr
0.63	DOCS	Doximity	Pair Corr
0.86	VEEV	Veeva Systems Class	Pair Corr
0.79	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.68	VNRX	Volitionrx	Pair Corr
0.83	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.9	FIGS	Figs Inc Sell-off Trend	Pair Corr
0.69	ABT	Abbott Laboratories Earnings Call Tomorrow	Pair Corr
0.85	MDAI	Spectral AI	Pair Corr
0.65	MHUA	Meihua International	Pair Corr

Moving against Haemonetics Stock

0.56	CI	Cigna Corp	Pair Corr
0.38	VERO	Venus Concept	Pair Corr
0.8	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.74	EKSO	Ekso Bionics Holdings	Pair Corr
0.7	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.67	ELMD	Electromed	Pair Corr
0.62	ELAB	Elevai Labs, Common	Pair Corr
0.62	EMBC	Embecta Corp	Pair Corr
0.59	ICCM	Icecure Medical	Pair Corr
0.88	MNDR	Mobile health Network	Pair Corr
0.86	NAOV	NanoVibronix	Pair Corr
0.85	NXLIW	Nexalin Technology	Pair Corr
0.75	NXGLW	NexGel Warrant	Pair Corr
0.71	MXCT	MaxCyte	Pair Corr
0.69	MLSS	Milestone Scientific	Pair Corr

Related Correlations Analysis

	ICUI	MMSI	COO	ANGO	ATR	CNMD	IART
ICUI		0.03	0.55	-0.25	-0.35	0.25	0.63	ICUI
MMSI	0.03		0.28	0.01	0.45	0.64	-0.28	MMSI
COO	0.55	0.28		-0.62	-0.18	0.17	0.49	COO
ANGO	-0.25	0.01	-0.62		0.06	0.2	-0.24	ANGO
ATR	-0.35	0.45	-0.18	0.06		0.44	-0.67	ATR
CNMD	0.25	0.64	0.17	0.2	0.44		-0.28	CNMD
IART	0.63	-0.28	0.49	-0.24	-0.67	-0.28		IART
	ICUI	MMSI	COO	ANGO	ATR	CNMD	IART

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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

CNMD	+ 0.64	MMSI
IART	+ 0.63	ICUI
COO	+ 0.55	ICUI
IART	+ 0.49	COO
ATR	+ 0.45	MMSI
CNMD	+ 0.44	ATR

High negative correlations

IART	- 0.67	ATR
ANGO	- 0.62	COO
ATR	- 0.35	ICUI
IART	- 0.28	CNMD
IART	- 0.28	MMSI
ANGO	- 0.25	ICUI

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	1.83	(0.39)	0.00	(0.20)	0.00	0.00	3.69	(4.23)	11.56
MMSI	1.19	0.13	(0.02)	(0.24)	1.33	(1.28)	2.64	(2.15)	12.70
COO	1.54	(0.21)	0.00	(0.10)	0.00	0.00	2.33	(2.61)	17.38
ANGO	2.27	(0.26)	0.00	(0.08)	0.00	0.00	5.38	(4.32)	18.90
ATR	0.93	0.01	(0.01)	0.13	1.12	(0.97)	2.32	(2.07)	6.25
CNMD	2.03	(0.37)	0.00	(0.12)	0.00	0.00	3.82	(4.29)	20.87
IART	3.00	(0.96)	0.00	(0.25)	0.00	0.00	5.84	(5.53)	25.14

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