IDEXX Laboratories Correlations

IDXX Stock

USD 722.12 0.82 0.11%

The current 90-days correlation between IDEXX Laboratories and Becton Dickinson and is 0.29 (i.e., Modest diversification). The correlation of IDEXX Laboratories 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. If the correlation is 0, the equities are not correlated; they are entirely random.

IDEXX Laboratories Correlation With Market

Average diversification

The correlation between IDEXX Laboratories and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IDEXX Laboratories and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IDEXX Stock

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

For more information on how to buy IDEXX Stock please use our How to Invest in IDEXX Laboratories guide.

Moving against IDEXX Stock

0.32

QIPT

Quipt Home Medical

Pair Corr

Related Correlations Analysis

	BDX	A	ARGX	VEEV	IQV	TAK	EW	ZTS	COR	RMD
BDX		-0.21	-0.33	-0.03	-0.13	0.62	-0.04	0.58	-0.36	0.62	BDX
A	-0.21		0.94	0.57	0.92	-0.5	-0.12	-0.55	0.88	-0.71	A
ARGX	-0.33	0.94		0.49	0.8	-0.49	-0.19	-0.61	0.82	-0.72	ARGX
VEEV	-0.03	0.57	0.49		0.58	-0.37	-0.1	-0.41	0.55	-0.15	VEEV
IQV	-0.13	0.92	0.8	0.58		-0.56	0.04	-0.37	0.88	-0.61	IQV
TAK	0.62	-0.5	-0.49	-0.37	-0.56		0.04	0.61	-0.64	0.56	TAK
EW	-0.04	-0.12	-0.19	-0.1	0.04	0.04		0.36	0.07	-0.13	EW
ZTS	0.58	-0.55	-0.61	-0.41	-0.37	0.61	0.36		-0.58	0.61	ZTS
COR	-0.36	0.88	0.82	0.55	0.88	-0.64	0.07	-0.58		-0.77	COR
RMD	0.62	-0.71	-0.72	-0.15	-0.61	0.56	-0.13	0.61	-0.77		RMD
	BDX	A	ARGX	VEEV	IQV	TAK	EW	ZTS	COR	RMD

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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

ARGX	+ 0.94	A
IQV	+ 0.92	A
COR	+ 0.88	A
COR	+ 0.88	IQV
COR	+ 0.82	ARGX
IQV	+ 0.8	ARGX

High negative correlations

RMD	- 0.77	COR
RMD	- 0.72	ARGX
RMD	- 0.71	A
COR	- 0.64	TAK
RMD	- 0.61	IQV
ZTS	- 0.61	ARGX

Risk-Adjusted Indicators

There is a big difference between IDEXX Stock performing well and IDEXX Laboratories 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 IDEXX Laboratories' 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
BDX	1.14	(0.06)	(0.06)	0.02	1.33	(1.24)	2.07	(2.51)	11.79
A	1.32	0.25	0.21	0.27	0.97	(1.47)	3.82	(2.04)	10.46
ARGX	1.15	0.26	0.14	0.94	1.12	(1.29)	2.66	(2.39)	7.10
VEEV	1.29	(0.05)	(0.02)	0.05	1.92	(1.27)	2.57	(2.86)	10.28
IQV	1.41	0.08	0.08	0.13	1.56	(1.64)	3.67	(3.04)	9.67
TAK	0.83	(0.12)	0.00	(0.06)	0.00	0.00	1.40	(2.34)	5.74
EW	0.92	0.03	(0.02)	0.17	0.95	(1.00)	1.70	(1.66)	7.44
ZTS	1.05	(0.37)	0.00	(0.30)	0.00	0.00	1.68	(1.79)	4.45
COR	1.11	0.27	0.11	(1.14)	1.32	(1.26)	2.42	(2.93)	7.81
RMD	0.96	(0.33)	0.00	(0.29)	0.00	0.00	1.71	(2.33)	4.99

IDEXX Laboratories Corporate Management

Jeffrey Carr	GM VP	Profile
Sharon JD	General VP	Profile
Nimrata PE	Executive Commercial	Profile
Julie Godon	Senior Officer	Profile
Emilia Bostater	Officer Architecture	Profile

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