Thermo Fisher Correlations

TMO Stock

MXN 10,610 95.15 0.90%

The current 90-days correlation between Thermo Fisher Scientific and Danaher is 0.13 (i.e., Average diversification). The correlation of Thermo Fisher 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.

Thermo Fisher Correlation With Market

Average diversification

The correlation between Thermo Fisher Scientific and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thermo Fisher Scientific and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Thermo Fisher could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Thermo Fisher 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 Thermo Fisher - 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 Thermo Fisher Scientific to buy it.

Moving together with Thermo Stock

0.85	DHR	Danaher	Pair Corr
0.84	ENPH	Enphase Energy,	Pair Corr

Moving against Thermo Stock

0.9	COF	Capital One Financial	Pair Corr
0.86	HBCN	HSBC Holdings plc	Pair Corr
0.82	BAPN	Credicorp	Pair Corr
0.81	USB	US Bancorp	Pair Corr
0.81	HON	Honeywell International	Pair Corr
0.8	PRU	Prudential Financial	Pair Corr
0.79	CTSH	Cognizant Technology	Pair Corr
0.76	CVX	Chevron Corp	Pair Corr
0.7	BRKB	Berkshire Hathaway	Pair Corr
0.68	PG	Procter Gamble DRC	Pair Corr
0.66	HD	Home Depot	Pair Corr
0.63	TSMN	Taiwan Semiconductor	Pair Corr
0.48	AIG	American International	Pair Corr
0.46	VLO	Valero Energy	Pair Corr
0.44	KUOB	Grupo KUO SAB	Pair Corr
0.39	UTSI	UTStarcom Holdings Corp	Pair Corr
0.36	ALFAA	Alfa SAB de	Pair Corr
0.34	IDEALB-1	Impulsora del Desarrollo	Pair Corr
0.91	NFLX	Netflix	Pair Corr
0.89	DIS	Walt Disney	Pair Corr
0.88	T	ATT Inc	Pair Corr
0.88	SPORTS	Grupo Sports World	Pair Corr
0.87	DAL	Delta Air Lines	Pair Corr
0.86	PINFRAL	Promotora y Operadora	Pair Corr
0.86	WMT	Walmart	Pair Corr
0.83	TSLA	Tesla Inc	Pair Corr
0.83	GT	Goodyear Tire	Pair Corr
0.82	MAS	Masco	Pair Corr
0.82	AMZN	Amazon Inc	Pair Corr
0.81	LUV	Southwest Airlines	Pair Corr
0.81	BLK	BlackRock	Pair Corr
0.78	LABB	Genomma Lab Internacional	Pair Corr
0.75	TRV	The Travelers Companies	Pair Corr
0.63	MNST	Monster Beverage Corp	Pair Corr

Related Correlations Analysis

	TMO	DHR	FIHO12	USB	BAPN	UAL	BRKB	BA	BOLSAA	UTSI
TMO		0.85	-0.69	-0.81	-0.82	-0.91	-0.7	-0.49	-0.36	-0.39	TMO
DHR	0.85		-0.74	-0.68	-0.72	-0.8	-0.56	-0.52	-0.37	-0.32	DHR
FIHO12	-0.69	-0.74		0.56	0.56	0.66	0.34	0.55	0.3	0.1	FIHO12
USB	-0.81	-0.68	0.56		0.72	0.92	0.69	0.48	0.44	0.39	USB
BAPN	-0.82	-0.72	0.56	0.72		0.86	0.74	0.41	0.3	0.23	BAPN
UAL	-0.91	-0.8	0.66	0.92	0.86		0.81	0.5	0.36	0.41	UAL
BRKB	-0.7	-0.56	0.34	0.69	0.74	0.81		0.12	0.04	0.32	BRKB
BA	-0.49	-0.52	0.55	0.48	0.41	0.5	0.12		0.55	0.11	BA
BOLSAA	-0.36	-0.37	0.3	0.44	0.3	0.36	0.04	0.55		0.32	BOLSAA
UTSI	-0.39	-0.32	0.1	0.39	0.23	0.41	0.32	0.11	0.32		UTSI
	TMO	DHR	FIHO12	USB	BAPN	UAL	BRKB	BA	BOLSAA	UTSI

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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

UAL	+ 0.92	USB
UAL	+ 0.86	BAPN
DHR	+ 0.85	TMO
BRKB	+ 0.81	UAL
BRKB	+ 0.74	BAPN
BAPN	+ 0.72	USB

High negative correlations

UAL	- 0.91	TMO
BAPN	- 0.82	TMO
USB	- 0.81	TMO
UAL	- 0.8	DHR
FIHO12	- 0.74	DHR
BAPN	- 0.72	DHR

Risk-Adjusted Indicators

There is a big difference between Thermo Stock performing well and Thermo Fisher 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 Thermo Fisher'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
TMO	0.91	(0.18)	0.00	(1.01)	0.00	0.00	1.93	(2.78)	6.12
DHR	1.29	(0.22)	0.00	(1.14)	0.00	0.00	2.63	(3.66)	18.40
FIHO12	2.06	0.31	0.11	(0.29)	2.28	(2.56)	6.08	(2.83)	13.05
USB	0.90	0.29	0.08	(0.65)	0.70	(5.24)	3.34	(0.80)	17.91
BAPN	0.54	0.19	0.00	1.13	0.00	0.00	0.00	0.00	18.32
UAL	2.21	1.01	0.38	3.50	1.64	(2.71)	7.01	(4.06)	18.75
BRKB	0.98	0.06	0.03	1.00	1.14	(1.08)	1.90	(1.94)	8.32
BA	1.67	0.28	0.12	(0.59)	1.74	(1.89)	4.06	(3.21)	8.46
BOLSAA	1.36	0.10	0.04	1.88	1.71	(1.52)	4.05	(2.83)	11.26
UTSI	0.34	0.12	0.00	(0.56)	0.00	0.00	0.00	0.00	14.48

Be your own money manager

Our tools can tell you how much better you can do entering a position in Thermo Fisher 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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Thermo Fisher Corporate Management

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

Karen Nelson	Chief Board	Profile
Ryan Snyder	VP Officer	Profile
Michael Esq	Gen VP	Profile
Rafael Tejada	VP Relations	Profile
Joseph Holmes	VP Officer	Profile

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