Smith Nephew Correlations
| SNNUF Stock | USD 12.90 0.02 0.15% |
The current 90-days correlation between Smith Nephew plc and Glaukos Corp is -0.21 (i.e., Very good diversification). The correlation of Smith Nephew 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.
Smith Nephew Correlation With Market
Very good diversification
The correlation between Smith Nephew plc and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smith Nephew plc and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Smith Nephew could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Smith Nephew 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 Smith Nephew - 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 Smith Nephew plc to buy it.
Moving together with Smith Pink Sheet
| 0.7 | SEMHF | Siemens Healthineers | PairCorr |
| 0.68 | PHG | Koninklijke Philips | PairCorr |
| 0.73 | LNDNF | Lundin Energy AB | PairCorr |
| 0.76 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
| 0.72 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.86 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.86 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
Moving against Smith Pink Sheet
| 0.82 | BSX | Boston Scientific Corp | PairCorr |
| 0.7 | SYK | Stryker | PairCorr |
| 0.53 | DXCM | DexCom Inc | PairCorr |
| 0.5 | ABT | Abbott Laboratories Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.4 | GMNFF | GobiMin | PairCorr |
| 0.37 | ZBH | Zimmer Biomet Holdings | PairCorr |
| 0.86 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.84 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.81 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.72 | DIS | Walt Disney | PairCorr |
| 0.7 | T | ATT Inc Aggressive Push | PairCorr |
| 0.66 | HPQ | HP Inc | PairCorr |
| 0.63 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.58 | XOM | Exxon Mobil Corp Sell-off Trend | PairCorr |
| 0.57 | HD | Home Depot | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Smith Pink Sheet performing well and Smith Nephew 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 Smith Nephew'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AORT | 1.30 | 0.00 | 0.02 | 0.11 | 1.52 | 2.65 | 9.51 | |||
| ANIK | 1.74 | (0.67) | 0.00 | (0.31) | 0.00 | 3.09 | 34.28 | |||
| SGHT | 3.03 | (1.12) | 0.00 | (0.24) | 0.00 | 6.65 | 18.22 | |||
| OFIX | 1.87 | 0.03 | 0.03 | 0.13 | 2.01 | 3.90 | 12.11 | |||
| AVNS | 1.68 | (0.50) | 0.00 | (0.20) | 0.00 | 3.01 | 20.91 | |||
| GKOS | 1.63 | (0.13) | (0.03) | 0.02 | 1.84 | 3.30 | 13.23 | |||
| KIDS | 2.46 | (0.38) | 0.00 | (0.22) | 0.00 | 4.85 | 16.62 | |||
| CNMD | 1.88 | (0.04) | (0.02) | 0.06 | 2.40 | 4.46 | 10.92 | |||
| LIVN | 1.19 | (0.06) | (0.04) | 0.04 | 1.67 | 3.30 | 8.68 | |||
| FNA | 3.72 | 0.22 | 0.09 | 0.19 | 3.99 | 7.32 | 43.16 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Smith Nephew 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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Smith Nephew Corporate Management
| Alison Parkes | Chief Officer | Profile | |
| Paul Connolly | Pres Operations | Profile | |
| Deepak Nath | CEO Director | Profile | |
| Joe Metzger | VP Communications | Profile | |
| Andrew Swift | VP Relations | Profile | |
| AnneFrancoise Nesmes | CFO Director | Profile | |
| Helen Barraclough | Company Counsel | Profile |