Envista Holdings Correlations
| NVST Stock | USD 20.11 0.15 0.75% |
The correlation of Envista Holdings 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 Envista Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Envista Holdings Corp 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.
Significant diversification
The correlation between Envista Holdings Corp and NYA is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Envista Holdings Corp and NYA in the same portfolio, assuming nothing else is changed.
Envista |
The ability to find closely correlated positions to Envista Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Envista Holdings 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 Envista Holdings - 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 Envista Holdings Corp to buy it.
Moving together with Envista Stock
| 0.62 | DH | Definitive Healthcare Financial Report 2nd of May 2024 | PairCorr |
| 0.83 | GH | Guardant Health Upward Rally | PairCorr |
| 0.87 | HCAT | Health Catalyst Financial Report 14th of May 2024 | PairCorr |
| 0.66 | HSTM | HealthStream | PairCorr |
Moving against Envista Stock
| 0.86 | AGTI | Agiliti Financial Report 14th of May 2024 | PairCorr |
| 0.72 | RCM | R1 RCM Inc Financial Report 2nd of May 2024 | PairCorr |
| 0.65 | HQY | HealthEquity Financial Report 3rd of June 2024 | PairCorr |
| 0.51 | STIM | Neuronetics Financial Report 14th of May 2024 | PairCorr |
| 0.48 | CERT | Certara Financial Report 13th of May 2024 | PairCorr |
| 0.41 | DHR | Danaher Earnings Call Today | PairCorr |
Related Correlations Analysis
| 0.81 | -0.11 | 0.83 | 0.86 | HSTM | ||
| 0.81 | 0.08 | 0.59 | 0.59 | NRC | ||
| -0.11 | 0.08 | -0.44 | -0.09 | HQY | ||
| 0.83 | 0.59 | -0.44 | 0.79 | HCAT | ||
| 0.86 | 0.59 | -0.09 | 0.79 | DH | ||
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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 Envista Stock performing well and Envista Holdings 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 Envista Holdings' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HSTM | 1.05 | (0.17) | 0.00 | (0.13) | 0.00 | 1.88 | 4.67 | |||
| NRC | 1.20 | (0.31) | 0.00 | (0.18) | 0.00 | 2.27 | 13.13 | |||
| HQY | 1.10 | 0.13 | 0.06 | 0.40 | 1.16 | 2.43 | 6.23 | |||
| HCAT | 2.91 | (1.00) | 0.00 | (0.39) | 0.00 | 4.85 | 14.54 | |||
| DH | 2.44 | (0.44) | 0.00 | (0.11) | 0.00 | 5.45 | 13.17 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Envista Holdings 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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Envista Holdings Corporate Management
Elected by the shareholders, the Envista Holdings' board of directors comprises two types of representatives: Envista Holdings inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Envista. The board's role is to monitor Envista Holdings' management team and ensure that shareholders' interests are well served. Envista Holdings' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Envista Holdings' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Stephen Keller | VP Officer | Profile | |
| Scott Huennekens | Independent Chairman of the Board | Profile | |
| Vivek Jain | Independent Director | Profile | |
| Mischa Reis | Senior Vice President - Strategy and Corporate Development | Profile | |
| Andrew Chen | Chief Officer | Profile | |
| Christine Tsingos | Independent Director | Profile |
Already Invested in Envista Holdings Corp?
The danger of trading Envista Holdings Corp 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 Envista Holdings 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 Envista Holdings. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Envista Holdings Corp 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 Envista Holdings Corp is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Envista Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Envista Holdings Corp Stock. Highlighted below are key reports to facilitate an investment decision about Envista Holdings Corp Stock: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Envista Holdings Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state. You can also try the My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Complementary Tools for Envista Stock analysis
When running Envista Holdings' price analysis, check to measure Envista Holdings' 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 Envista Holdings is operating at the current time. Most of Envista Holdings' value examination focuses on studying past and present price action to predict the probability of Envista Holdings' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Envista Holdings' price. Additionally, you may evaluate how the addition of Envista Holdings to your portfolios can decrease your overall portfolio volatility.
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Is Envista Holdings' 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 Envista Holdings. If investors know Envista 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 Envista Holdings 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 (0.55) | Earnings Share (0.60) | Revenue Per Share 15.377 | Quarterly Revenue Growth (0.02) | Return On Assets 0.031 |
The market value of Envista Holdings Corp is measured differently than its book value, which is the value of Envista that is recorded on the company's balance sheet. Investors also form their own opinion of Envista Holdings' value that differs from its market value or its book value, called intrinsic value, which is Envista Holdings' 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 Envista Holdings' market value can be influenced by many factors that don't directly affect Envista Holdings' 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 Envista Holdings' value and its price as these two are different measures arrived at by different means. Investors typically determine if Envista Holdings is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Envista Holdings' 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.