Laboratory Correlations
LH Stock | USD 199.10 0.87 0.44% |
The correlation of Laboratory 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Laboratory moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Laboratory of moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between Laboratory of and NYA is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Laboratory of and NYA in the same portfolio, assuming nothing else is changed.
Laboratory |
The ability to find closely correlated positions to Laboratory could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Laboratory when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Laboratory - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Laboratory of to buy it.
Moving together with Laboratory Stock
0.88 | EMBC | Embecta Corp Financial Report 10th of May 2024 | PairCorr |
0.8 | IVP | Inspire Veterinary | PairCorr |
0.85 | TFX | Teleflex Incorporated Financial Report 2nd of May 2024 | PairCorr |
0.81 | MMSI | Merit Medical Systems Financial Report 24th of April 2024 | PairCorr |
0.81 | NVST | Envista Holdings Corp Financial Report 1st of May 2024 | PairCorr |
0.69 | JNJ | Johnson Johnson Financial Report 18th of July 2024 | PairCorr |
Moving against Laboratory Stock
0.69 | HIMS | Hims Hers Health Financial Report 13th of May 2024 | PairCorr |
0.68 | ELMD | Electromed | PairCorr |
0.61 | HOLX | Hologic Financial Report 6th of May 2024 | PairCorr |
0.52 | ALC | Alcon AG Financial Report 14th of May 2024 | PairCorr |
0.51 | BAX | Baxter International Sell-off Trend | PairCorr |
Related Correlations Analysis
0.56 | 0.68 | -0.42 | -0.29 | -0.01 | ILMN | ||
0.56 | 0.78 | -0.18 | 0.01 | 0.45 | TWST | ||
0.68 | 0.78 | -0.08 | 0.07 | 0.47 | MYGN | ||
-0.42 | -0.18 | -0.08 | 0.92 | 0.61 | A | ||
-0.29 | 0.01 | 0.07 | 0.92 | 0.7 | TMO | ||
-0.01 | 0.45 | 0.47 | 0.61 | 0.7 | DHR | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Laboratory Stock performing well and Laboratory 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 Laboratory'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
ILMN | 1.83 | (0.32) | 0.00 | (0.10) | 0.00 | 3.65 | 9.89 | |||
TWST | 2.81 | (0.44) | 0.00 | (0.10) | 0.00 | 6.34 | 18.88 | |||
MYGN | 2.07 | (0.17) | 0.00 | (0.03) | 0.00 | 4.77 | 17.90 | |||
A | 1.18 | (0.01) | 0.00 | 0.03 | 1.41 | 2.26 | 6.31 | |||
TMO | 0.92 | (0.05) | (0.03) | 0.01 | 1.26 | 1.80 | 6.87 | |||
DHR | 0.94 | 0.04 | 0.04 | 0.08 | 1.05 | 2.27 | 7.45 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Laboratory without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Laboratory Corporate Directors
Laboratory corporate directors refer to members of a Laboratory board of directors. The board of directors generally takes responsibility for the Laboratory's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Laboratory's board members must vote for the resolution. The Laboratory board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.Sanders Williams | Independent Director | Profile | |
JeanLuc Belingard | Independent Director | Profile | |
Peter Neupert | Lead Independent Director | Profile | |
Robert Williams | Independent Director | Profile |
Already Invested in Laboratory of?
The danger of trading Laboratory of is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Laboratory is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Laboratory. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Laboratory is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Laboratory offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Laboratory's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Laboratory Of Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Laboratory Of Stock: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Laboratory of. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in rate. Note that the Laboratory information on this page should be used as a complementary analysis to other Laboratory's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Complementary Tools for Laboratory Stock analysis
When running Laboratory's price analysis, check to measure Laboratory's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Laboratory is operating at the current time. Most of Laboratory's value examination focuses on studying past and present price action to predict the probability of Laboratory's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Laboratory's price. Additionally, you may evaluate how the addition of Laboratory to your portfolios can decrease your overall portfolio volatility.
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Is Laboratory's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Laboratory. If investors know Laboratory will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Laboratory listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.46) | Dividend Share 2.88 | Earnings Share 4.32 | Revenue Per Share 139.628 | Quarterly Revenue Growth 0.035 |
The market value of Laboratory is measured differently than its book value, which is the value of Laboratory that is recorded on the company's balance sheet. Investors also form their own opinion of Laboratory's value that differs from its market value or its book value, called intrinsic value, which is Laboratory's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Laboratory's market value can be influenced by many factors that don't directly affect Laboratory's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Laboratory's value and its price as these two are different measures arrived at by different means. Investors typically determine if Laboratory is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Laboratory's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.