Waters Correlations
| WAT Stock | USD 322.66 15.23 4.51% |
The correlation of Waters 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 Waters moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Waters 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.
Good diversification
The correlation between Waters and NYA is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Waters and NYA in the same portfolio, assuming nothing else is changed.
Waters |
The ability to find closely correlated positions to Waters could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Waters 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 Waters - 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 Waters to buy it.
Moving together with Waters Stock
| 0.9 | A | Agilent Technologies Financial Report 28th of May 2024 | PairCorr |
| 0.65 | ERAS | Erasca Inc Financial Report 20th of May 2024 | PairCorr |
| 0.78 | ERNA | Eterna Therapeutics | PairCorr |
| 0.73 | BMY | Bristol Myers Squibb Financial Report 25th of April 2024 | PairCorr |
| 0.88 | CRL | Charles River Labora Financial Report 9th of May 2024 | PairCorr |
| 0.8 | GSK | GlaxoSmithKline PLC ADR Financial Report 24th of April 2024 | PairCorr |
| 0.77 | LLY | Eli Lilly Sell-off Trend | PairCorr |
| 0.9 | NVO | Novo Nordisk AS Financial Report 2nd of May 2024 | PairCorr |
Moving against Waters Stock
| 0.79 | BNR | Burning Rock BiotechLtd Financial Report 4th of June 2024 | PairCorr |
| 0.68 | VALN | Valneva SE ADR Financial Report 2nd of May 2024 | PairCorr |
| 0.63 | VRTX | Vertex Pharmaceuticals Financial Report 6th of May 2024 | PairCorr |
| 0.47 | DNA | Ginkgo Bioworks Holdings Financial Report 8th of May 2024 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Waters Stock performing well and Waters 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 Waters' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ISRG | 1.00 | 0.00 | 0.00 | 0.05 | 1.23 | 2.77 | 6.95 | |||
| RMD | 1.40 | (0.01) | 0.02 | 0.05 | 1.60 | 3.50 | 12.88 | |||
| MMSI | 1.01 | (0.20) | 0.00 | (0.14) | 0.00 | 2.25 | 7.75 | |||
| ICUI | 2.06 | (0.05) | 0.01 | 0.03 | 2.34 | 4.31 | 14.60 | |||
| COO | 1.06 | (0.13) | 0.00 | (0.05) | 0.00 | 2.27 | 11.88 | |||
| WST | 1.51 | 0.08 | 0.02 | 0.18 | 2.55 | 3.54 | 18.44 | |||
| BDX | 0.89 | (0.07) | 0.00 | (0.03) | 0.00 | 1.69 | 4.20 | |||
| HOLX | 0.80 | 0.08 | 0.06 | 0.18 | 0.92 | 1.66 | 5.32 | |||
| TFX | 1.24 | (0.32) | 0.00 | (0.17) | 0.00 | 2.40 | 8.62 | |||
| HAE | 1.32 | (0.04) | (0.01) | 0.02 | 1.81 | 2.39 | 7.29 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Waters 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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Theme RatingsDetermine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |
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Waters Corporate Directors
Waters corporate directors refer to members of a Waters board of directors. The board of directors generally takes responsibility for the Waters' 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 Waters' board members must vote for the resolution. The Waters board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Gary Hendrickson | Independent Director | Profile | |
| Bryan Brokmeier | Senior Director, Investor Relations | Profile | |
| Edward Conard | Independent Director | Profile | |
| Linda Baddour | Independent Director | Profile |
Already Invested in Waters?
The danger of trading Waters 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 Waters 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 Waters. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Waters 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 Waters 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 Waters 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 Waters Stock. Highlighted below are key reports to facilitate an investment decision about Waters Stock: Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Waters. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. For more information on how to buy Waters Stock please use our How to Invest in Waters guide.Note that the Waters information on this page should be used as a complementary analysis to other Waters' 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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Complementary Tools for Waters Stock analysis
When running Waters' price analysis, check to measure Waters' 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 Waters is operating at the current time. Most of Waters' value examination focuses on studying past and present price action to predict the probability of Waters' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Waters' price. Additionally, you may evaluate how the addition of Waters to your portfolios can decrease your overall portfolio volatility.
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Is Waters' 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 Waters. If investors know Waters 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 Waters 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 (0.04) | Earnings Share 10.83 | Revenue Per Share 50.044 | Quarterly Revenue Growth (0.04) | Return On Assets 0.1354 |
The market value of Waters is measured differently than its book value, which is the value of Waters that is recorded on the company's balance sheet. Investors also form their own opinion of Waters' value that differs from its market value or its book value, called intrinsic value, which is Waters' 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 Waters' market value can be influenced by many factors that don't directly affect Waters' 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 Waters' value and its price as these two are different measures arrived at by different means. Investors typically determine if Waters is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Waters' 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.