Varex Imaging Correlations

VREX Stock

USD 11.80 0.17 1.46%

The current 90-days correlation between Varex Imaging Corp and Sight Sciences is 0.46 (i.e., Very weak 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 0.31 (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.

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 income.

Moving together with Varex Stock

0.67	EW	Edwards Lifesciences Corp	Pair Corr
0.66	GH	Guardant Health	Pair Corr
0.88	OM	Outset Medical	Pair Corr
0.78	DXCM	DexCom Inc	Pair Corr
0.74	VTAK	Catheter Precision	Pair Corr
0.92	XAIR	Beyond Air	Pair Corr
0.71	ZTEK	ZEN Graphene Solutions Earnings Call This Week	Pair Corr
0.67	AIEV	Thunder Power Holdings, Symbol Change	Pair Corr
0.86	DHAI	DIH Holdings US, Symbol Change	Pair Corr
0.89	EVGN	Evogene	Pair Corr

Moving against Varex Stock

0.85	ABT	Abbott Laboratories Fiscal Year End 22nd of January 2025	Pair Corr
0.78	BVS	Bioventus	Pair Corr
0.78	CAH	Cardinal Health	Pair Corr
0.59	BSX	Boston Scientific Corp	Pair Corr
0.58	ELMD	Electromed	Pair Corr
0.4	VVOS	Vivos Therapeutics Downward Rally	Pair Corr
0.85	MMSI	Merit Medical Systems	Pair Corr
0.62	DHR	Danaher	Pair Corr
0.58	A	Agilent Technologies Fiscal Year End 18th of November 2024	Pair Corr
0.56	DSGN	Design Therapeutics	Pair Corr
0.39	VTRS	Viatris	Pair Corr
0.34	IDXX	IDEXX Laboratories	Pair Corr
0.88	HLN	Haleon plc	Pair Corr
0.78	TAK	Takeda Pharmaceutical	Pair Corr
0.78	ZTS	Zoetis Inc	Pair Corr
0.77	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.73	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr
0.72	TMO	Thermo Fisher Scientific	Pair Corr

Related Correlations Analysis

	SGHT	APYX	SIBN	IRMD	OFIX	GKOS	BRKR	FNA	KIDS	NPCE
SGHT		0.55	0.64	0.46	0.19	0.03	0.31	0.51	0.78	0.72	SGHT
APYX	0.55		0.14	-0.09	-0.2	0.09	0.02	0.27	0.54	0.48	APYX
SIBN	0.64	0.14		0.6	0.74	0.53	0.25	0.71	0.67	0.69	SIBN
IRMD	0.46	-0.09	0.6		0.49	0.48	0.67	0.12	0.26	0.31	IRMD
OFIX	0.19	-0.2	0.74	0.49		0.61	0.23	0.65	0.25	0.37	OFIX
GKOS	0.03	0.09	0.53	0.48	0.61		0.25	0.25	0.16	0.28	GKOS
BRKR	0.31	0.02	0.25	0.67	0.23	0.25		0.07	0.03	0.15	BRKR
FNA	0.51	0.27	0.71	0.12	0.65	0.25	0.07		0.57	0.68	FNA
KIDS	0.78	0.54	0.67	0.26	0.25	0.16	0.03	0.57		0.64	KIDS
NPCE	0.72	0.48	0.69	0.31	0.37	0.28	0.15	0.68	0.64		NPCE
	SGHT	APYX	SIBN	IRMD	OFIX	GKOS	BRKR	FNA	KIDS	NPCE

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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

KIDS	+ 0.78	SGHT
OFIX	+ 0.74	SIBN
NPCE	+ 0.72	SGHT
FNA	+ 0.71	SIBN
NPCE	+ 0.69	SIBN
NPCE	+ 0.68	FNA

High negative correlations

OFIX	- 0.2	APYX
IRMD	- 0.09	APYX

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
SGHT	3.15	(0.11)	0.02	0.07	4.49	(3.19)	5.81	(6.13)	37.24
APYX	3.16	(0.36)	0.00	(0.08)	0.00	0.00	5.04	(7.76)	29.27
SIBN	2.46	0.04	0.05	0.13	2.62	(2.80)	6.42	(4.09)	15.37
IRMD	1.41	0.14	0.08	0.29	1.26	(1.77)	3.03	(2.46)	8.43
OFIX	2.32	0.14	0.08	0.20	2.27	(2.70)	4.28	(4.27)	24.29
GKOS	1.45	0.09	0.05	0.19	1.56	(1.52)	3.69	(2.16)	8.11
BRKR	1.66	(0.02)	0.02	0.09	1.73	(1.85)	4.48	(2.98)	8.07
FNA	3.51	(0.08)	0.01	0.07	5.79	(3.47)	7.56	(8.68)	31.88
KIDS	2.55	(0.22)	0.00	(0.03)	0.00	0.00	7.54	(4.75)	15.43
NPCE	3.45	(0.13)	0.00	0.04	4.15	(3.45)	8.36	(6.60)	19.67

Varex Imaging Corporate Management

David Carmona	Vice Marketing	Profile
Christopher Belfiore	Director Relations	Profile
Shubham Maheshwari	CFO Officer	Profile
Stephen DeVita	VP Imaging	Profile

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