Teleflex Incorporated Correlations

TFX Stock

USD 130.90 5.40 4.30%

The current 90-days correlation between Teleflex Incorporated and West Pharmaceutical Services is 0.06 (i.e., Significant diversification). The correlation of Teleflex Incorporated 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.

Teleflex Incorporated Correlation With Market

Very weak diversification

The correlation between Teleflex Incorporated and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Teleflex Incorporated and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Teleflex Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Teleflex Incorporated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

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

Moving together with Teleflex Stock

0.74	IRMD	Iradimed	Pair Corr
0.76	AIMD	Ainos Inc	Pair Corr
0.75	PTAIY	Astra International Tbk	Pair Corr
0.61	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.65	94986RYP0	US94986RYP09	Pair Corr
0.63	DOMH	Dominari Holdings	Pair Corr
0.79	AGPYY	Agile Group Holdings	Pair Corr
0.61	HWH	HWH International	Pair Corr
0.65	DSVSF	Discovery Metals Corp	Pair Corr
0.74	BMEZ	BlackRock Health Sciences	Pair Corr

Moving against Teleflex Stock

0.65	BKRKF	PT Bank Rakyat	Pair Corr
0.62	ALC	Alcon AG	Pair Corr
0.61	LNTH	Lantheus Holdings	Pair Corr
0.6	BTMD	biote Corp	Pair Corr
0.48	PBCRY	Bank Central Asia	Pair Corr
0.44	PTAIF	PT Astra International	Pair Corr
0.4	COO	Cooper Companies,	Pair Corr
0.33	PPERF	Bank Mandiri Persero	Pair Corr
0.39	FORLW	Four Leaf Acquisition	Pair Corr

Related Correlations Analysis

	WST	ALC	RMD	ICUI	COO	BDX	HOLX	MMSI	HAE	ANGO
WST		-0.59	0.48	-0.15	-0.49	0.53	0.41	-0.42	-0.64	0.59	WST
ALC	-0.59		-0.15	0.09	0.76	-0.4	-0.2	0.23	0.8	-0.83	ALC
RMD	0.48	-0.15		-0.39	-0.07	0.73	0.75	-0.31	-0.5	-0.03	RMD
ICUI	-0.15	0.09	-0.39		-0.03	-0.41	-0.36	0.49	0.39	0.2	ICUI
COO	-0.49	0.76	-0.07	-0.03		-0.15	-0.04	0.31	0.58	-0.64	COO
BDX	0.53	-0.4	0.73	-0.41	-0.15		0.6	-0.11	-0.8	0.31	BDX
HOLX	0.41	-0.2	0.75	-0.36	-0.04	0.6		-0.17	-0.47	0.09	HOLX
MMSI	-0.42	0.23	-0.31	0.49	0.31	-0.11	-0.17		0.29	-0.03	MMSI
HAE	-0.64	0.8	-0.5	0.39	0.58	-0.8	-0.47	0.29		-0.62	HAE
ANGO	0.59	-0.83	-0.03	0.2	-0.64	0.31	0.09	-0.03	-0.62		ANGO
	WST	ALC	RMD	ICUI	COO	BDX	HOLX	MMSI	HAE	ANGO

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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

HAE	+ 0.8	ALC
COO	+ 0.76	ALC
HOLX	+ 0.75	RMD
BDX	+ 0.73	RMD
HOLX	+ 0.6	BDX
ANGO	+ 0.59	WST

High negative correlations

ANGO	- 0.83	ALC
HAE	- 0.8	BDX
ANGO	- 0.64	COO
HAE	- 0.64	WST
ANGO	- 0.62	HAE
ALC	- 0.59	WST

Risk-Adjusted Indicators

There is a big difference between Teleflex Stock performing well and Teleflex Incorporated 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 Teleflex Incorporated'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
WST	1.78	0.31	0.16	0.52	1.58	(2.53)	3.64	(3.88)	28.37
ALC	1.32	(0.29)	0.00	(0.16)	0.00	0.00	2.34	(2.47)	14.09
RMD	1.02	0.06	0.05	0.12	1.20	(1.09)	2.23	(2.33)	7.51
ICUI	1.95	(0.24)	0.00	(0.08)	0.00	0.00	3.76	(4.21)	16.90
COO	1.56	(0.12)	0.00	(0.03)	0.00	0.00	2.77	(2.60)	15.84
BDX	1.18	0.08	0.06	0.16	1.29	(1.30)	2.22	(2.51)	11.79
HOLX	1.10	0.00	0.00	0.07	1.29	(1.18)	2.16	(2.10)	10.53
MMSI	1.37	(0.21)	0.00	(0.16)	0.00	0.00	2.51	(3.13)	14.94
HAE	1.79	(0.70)	0.00	(0.26)	0.00	0.00	2.69	(2.95)	28.63
ANGO	1.77	0.21	0.10	0.17	2.34	(2.01)	4.19	(3.39)	15.19

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