Edwards Lifesciences Correlations

Stocks . Brazil . 
Stock . Edwards Lifesciences
E1WL34 Stock   113.96  1.10  0.97%   
The current 90-days correlation between Edwards Lifesciences and Boston Scientific is 0.44 (i.e., Very weak diversification). The correlation of Edwards Lifesciences 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.

Edwards Lifesciences Correlation With Market

Good diversification

The correlation between Edwards Lifesciences and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edwards Lifesciences and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Edwards Lifesciences could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Edwards Lifesciences 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 Edwards Lifesciences - 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 Edwards Lifesciences to buy it.

Moving together with Edwards Stock

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  0.93B1SX34 Boston ScientificPairCorr
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  0.96AAPL34 Apple IncPairCorr
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  0.78A1VY34 A1VY34PairCorr
  0.63PSSA3 Porto Seguro SAPairCorr
  0.91COWC34 Costco WholesalePairCorr
  0.9JBSS3 JBS SAPairCorr
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  0.87A1TM34 A1TM34PairCorr
  0.9P2LT34 Palantir TechnologiesPairCorr

Moving against Edwards Stock

  0.7HOND34 Honda MotorPairCorr

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   
E1WL34
+ 0.93
B1SX34
A1LG34
+ 0.57
B1SX34
A1LG34
+ 0.56
E1WL34
B1SX34
+ 0.36
MDTC34
E1WL34
+ 0.36
MDTC34
  
High negative correlations   
A1LG34
- 0.05
MDTC34

Risk-Adjusted Indicators

There is a big difference between Edwards Stock performing well and Edwards Lifesciences 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 Edwards Lifesciences' 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 Edwards Lifesciences 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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Edwards Lifesciences Corporate Management

Elected by the shareholders, the Edwards Lifesciences' board of directors comprises two types of representatives: Edwards Lifesciences inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Edwards. The board's role is to monitor Edwards Lifesciences' management team and ensure that shareholders' interests are well served. Edwards Lifesciences' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Edwards Lifesciences' outside directors are responsible for providing unbiased perspectives on the board's policies.
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