IDEXX Laboratories Correlations

IDXX Stock

USD 514.61 4.10 0.79%

The current 90-days correlation between IDEXX Laboratories and Waters is 0.35 (i.e., Weak 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

Very weak diversification

The correlation between IDEXX Laboratories and DJI is 0.52 (i.e., Very weak 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 interest.

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

Moving together with IDEXX Stock

0.89	DH	Definitive Healthcare	Pair Corr
0.76	EW	Edwards Lifesciences Corp Earnings Call This Week	Pair Corr
0.9	LH	Laboratory Earnings Call This Week	Pair Corr
0.93	OM	Outset Medical	Pair Corr
0.83	VEEV	Veeva Systems Class	Pair Corr
0.9	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.89	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.78	FIGS	Figs Inc	Pair Corr
0.7	MDAI	Spectral AI	Pair Corr
0.69	MHUA	Meihua International	Pair Corr

Moving against IDEXX Stock

0.62	CI	Cigna Corp	Pair Corr
0.46	DRIO	DarioHealth Corp	Pair Corr
0.45	VERO	Venus Concept	Pair Corr
0.33	ECOR	Electrocore LLC	Pair Corr
0.83	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.76	EKSO	Ekso Bionics Holdings	Pair Corr
0.7	ICCM	Icecure Medical	Pair Corr
0.69	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.68	ELMD	Electromed	Pair Corr
0.64	ELAB	Elevai Labs, Common	Pair Corr
0.56	EMBC	Embecta Corp	Pair Corr
0.92	NAOV	NanoVibronix	Pair Corr
0.82	MXCT	MaxCyte	Pair Corr
0.8	NXGLW	NexGel Warrant	Pair Corr
0.74	NXLIW	Nexalin Technology	Pair Corr
0.73	MNDR	Mobile health Network	Pair Corr
0.55	MODD	Modular Medical	Pair Corr

Related Correlations Analysis

	WAT	IQV	CRL	RVTY	MTD	A	TMO	ILMN	DHR	TWST
WAT		-0.15	0.12	0.07	0.23	0.26	-0.23	-0.09	0.3	-0.33	WAT
IQV	-0.15		0.57	0.84	0.52	0.67	0.35	0.74	0.81	0.64	IQV
CRL	0.12	0.57		0.5	0.94	0.93	-0.32	0.88	0.5	-0.18	CRL
RVTY	0.07	0.84	0.5		0.52	0.68	0.53	0.72	0.81	0.64	RVTY
MTD	0.23	0.52	0.94	0.52		0.94	-0.25	0.84	0.54	-0.17	MTD
A	0.26	0.67	0.93	0.68	0.94		-0.15	0.89	0.71	0.03	A
TMO	-0.23	0.35	-0.32	0.53	-0.25	-0.15		-0.04	0.33	0.71	TMO
ILMN	-0.09	0.74	0.88	0.72	0.84	0.89	-0.04		0.58	0.2	ILMN
DHR	0.3	0.81	0.5	0.81	0.54	0.71	0.33	0.58		0.51	DHR
TWST	-0.33	0.64	-0.18	0.64	-0.17	0.03	0.71	0.2	0.51		TWST
	WAT	IQV	CRL	RVTY	MTD	A	TMO	ILMN	DHR	TWST

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MTD	+ 0.94	CRL
A	+ 0.94	MTD
A	+ 0.93	CRL
ILMN	+ 0.89	A
ILMN	+ 0.88	CRL
RVTY	+ 0.84	IQV

High negative correlations

TWST	- 0.33	WAT
TMO	- 0.32	CRL
TMO	- 0.25	MTD
TMO	- 0.23	WAT
TWST	- 0.18	CRL
TWST	- 0.17	MTD

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
WAT	1.73	(0.41)	0.00	(0.13)	0.00	0.00	2.54	(3.80)	20.38
IQV	1.69	(0.09)	(0.01)	0.07	2.05	(1.80)	3.59	(3.49)	10.74
CRL	1.85	0.39	0.20	0.38	1.81	(2.04)	3.42	(3.37)	24.64
RVTY	1.70	(0.27)	0.00	(0.03)	0.00	0.00	3.17	(2.61)	13.84
MTD	1.73	(0.09)	0.02	0.08	2.01	(1.76)	4.11	(3.35)	13.69
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
TMO	1.47	(0.29)	0.00	(0.08)	0.00	0.00	2.58	(3.61)	12.65
ILMN	1.76	0.19	0.12	0.26	2.00	(1.96)	3.53	(3.62)	13.42
DHR	1.40	(0.20)	0.00	(0.01)	0.00	0.00	2.51	(3.47)	11.39
TWST	3.00	(0.46)	0.00	(0.05)	0.00	0.00	6.04	(7.89)	15.74

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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC