Danaher Correlations

Stocks Mexico . 
Stock . Danaher
DHR Stock  MXN 4,630  20.00  0.43%   
The current 90-days correlation between Danaher and Taiwan Semiconductor Manufacturing is 0.18 (i.e., Average diversification). The correlation of Danaher 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.

Danaher Correlation With Market

Significant diversification

The correlation between Danaher and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Danaher and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Danaher could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Danaher 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 Danaher - 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 Danaher to buy it.

Moving together with Danaher Stock

  0.87TMO Thermo Fisher ScientificPairCorr
  0.72ENPH Enphase Energy,PairCorr

Moving against Danaher Stock

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  0.76HBCN HSBC Holdings plcPairCorr
  0.72USB US BancorpPairCorr
  0.7PRU Prudential FinancialPairCorr
  0.7BAPN CredicorpPairCorr
  0.66CTSH Cognizant TechnologyPairCorr
  0.66HON Honeywell InternationalPairCorr
  0.59CVX Chevron CorpPairCorr
  0.58AIG American InternationalPairCorr
  0.56TSMN Taiwan SemiconductorPairCorr
  0.51HD Home DepotPairCorr
  0.49PG Procter Gamble DRCPairCorr
  0.47BRKB Berkshire HathawayPairCorr
  0.38ALFAA Alfa SAB dePairCorr
  0.35GPROFUT Grupo Profuturo SABPairCorr
  0.31UTSI UTStarcom Holdings CorpPairCorr
  0.81TSLA Tesla IncPairCorr
  0.81WMT WalmartPairCorr
  0.81NFLX NetflixPairCorr
  0.8PINFRAL Promotora y OperadoraPairCorr
  0.8SPORTS Grupo Sports WorldPairCorr
  0.79AMZN Amazon IncPairCorr
  0.79T ATT IncPairCorr
  0.79TRV The Travelers CompaniesPairCorr
  0.75LUV Southwest AirlinesPairCorr
  0.74GT Goodyear TirePairCorr
  0.74DIS Walt DisneyPairCorr
  0.73DAL Delta Air LinesPairCorr
  0.72LABB Genomma Lab InternacionalPairCorr
  0.72MAS MascoPairCorr
  0.71BLK BlackRockPairCorr
  0.53NOV NOV IncPairCorr

Related Correlations Analysis

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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   
MUX
+ 0.7
SCCO
MUX
+ 0.6
TSMN
MNST
+ 0.55
TSMN
MNST
+ 0.4
MUX
EDUN
+ 0.3
SCCO
SCCO
+ 0.28
TSMN
  
High negative correlations   
MNST
- 0.2
EDUN
MNST
- 0.07
SCCO
EDUN
- 0.04
TSMN

Risk-Adjusted Indicators

There is a big difference between Danaher Stock performing well and Danaher 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 Danaher'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Danaher 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.

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