Varex Imaging Correlations

VREX Stock

USD 11.86 0.06 0.51%

The current 90-days correlation between Varex Imaging Corp and CeriBell, is 0.2 (i.e., Modest diversification). The correlation of Varex Imaging 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.

Varex Imaging Correlation With Market

Weak diversification

The correlation between Varex Imaging Corp and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Varex Imaging Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Varex Stock

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

Moving together with Varex Stock

0.66	301363	MeHow Innovative	Pair Corr
0.72	OTC	Ocumetics Technology Corp	Pair Corr
0.69	ELMD	Electromed Earnings Call This Week	Pair Corr
0.85	EMBC	Embecta Corp	Pair Corr
0.8	ENOV	Enovis Corp	Pair Corr

Moving against Varex Stock

0.56	VTAK	Catheter Precision	Pair Corr
0.43	688289	Sansure Biotech	Pair Corr
0.42	VERO	Venus Concept	Pair Corr
0.38	DXCM	DexCom Inc	Pair Corr
0.35	688606	Hangzhou Alltest Biotech	Pair Corr
0.58	VVOS	Vivos Therapeutics Earnings Call This Week	Pair Corr
0.54	ECOR	Electrocore LLC	Pair Corr
0.51	002382	Blue Sail Medical	Pair Corr
0.51	POLX	Polarean Imaging Plc	Pair Corr
0.6	ALC	Alcon AG Earnings Call This Week	Pair Corr
0.58	FEMY	Femasys Earnings Call Today	Pair Corr
0.57	300482	Guangzhou Wondfo Biotech	Pair Corr
0.5	XAIR	Beyond Air	Pair Corr
0.36	605186	Shanghai General Healthy	Pair Corr
0.35	EUDA	EUDA Health Holdings Trending	Pair Corr

Related Correlations Analysis

	CBLL	PACB	AVNS	KIDS	CGEM	CATX	OFIX	SY	ADCT	BVS
CBLL		0.23	-0.25	-0.13	0.33	0.26	-0.1	-0.03	0.05	-0.29	CBLL
PACB	0.23		-0.21	-0.73	0.56	-0.32	0.58	-0.65	0.7	-0.27	PACB
AVNS	-0.25	-0.21		0.42	-0.32	-0.28	0.52	-0.34	0.01	0.28	AVNS
KIDS	-0.13	-0.73	0.42		-0.16	0.12	-0.28	0.5	-0.72	0.51	KIDS
CGEM	0.33	0.56	-0.32	-0.16		0.15	0.24	-0.29	0.09	0.17	CGEM
CATX	0.26	-0.32	-0.28	0.12	0.15		-0.39	0.18	-0.05	-0.17	CATX
OFIX	-0.1	0.58	0.52	-0.28	0.24	-0.39		-0.82	0.57	0.05	OFIX
SY	-0.03	-0.65	-0.34	0.5	-0.29	0.18	-0.82		-0.74	0.27	SY
ADCT	0.05	0.7	0.01	-0.72	0.09	-0.05	0.57	-0.74		-0.5	ADCT
BVS	-0.29	-0.27	0.28	0.51	0.17	-0.17	0.05	0.27	-0.5		BVS
	CBLL	PACB	AVNS	KIDS	CGEM	CATX	OFIX	SY	ADCT	BVS

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

ADCT	+ 0.7	PACB
OFIX	+ 0.58	PACB
ADCT	+ 0.57	OFIX
CGEM	+ 0.56	PACB
OFIX	+ 0.52	AVNS
BVS	+ 0.51	KIDS

High negative correlations

SY	- 0.82	OFIX
ADCT	- 0.74	SY
KIDS	- 0.73	PACB
ADCT	- 0.72	KIDS
SY	- 0.65	PACB
BVS	- 0.5	ADCT

Risk-Adjusted Indicators

There is a big difference between Varex Stock performing well and Varex Imaging 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 Varex Imaging'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
CBLL	2.88	(0.53)	0.00	(0.13)	0.00	0.00	6.20	(6.24)	15.25
PACB	4.46	0.14	0.11	0.13	4.41	(5.54)	9.52	(7.19)	31.45
AVNS	1.77	(0.02)	0.01	0.09	2.12	(1.97)	3.97	(3.10)	9.82
KIDS	2.29	(0.52)	0.00	(0.11)	0.00	0.00	5.48	(4.78)	18.21
CGEM	3.79	(0.21)	0.00	(0.02)	0.00	0.00	9.30	(9.82)	24.37
CATX	4.34	(0.45)	0.00	0.43	0.00	0.00	6.99	(7.44)	54.86
OFIX	1.63	0.22	0.09	0.33	2.03	(1.76)	3.72	(3.01)	14.06
SY	4.33	(0.30)	0.00	(0.02)	0.00	0.00	9.43	(7.82)	28.76
ADCT	3.12	0.42	0.14	0.29	3.25	(3.75)	6.13	(5.54)	20.98
BVS	2.59	0.16	0.10	0.18	2.15	(3.27)	5.48	(3.71)	23.67

Varex Imaging Corporate Management

Matthew Martinez	Chief Officer	Profile
Kimberley JD	General Officer	Profile
Shubham Maheshwari	CFO Officer	Profile
Chad Holman	Chief VP	Profile
David Carmona	Vice Marketing	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