Varex Imaging Correlations

VREX Stock

USD 16.68 0.15 0.91%

The current 90-days correlation between Varex Imaging Corp and Si Bone is 0.26 (i.e., Modest diversification). The correlation of Varex Imaging 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.

Varex Imaging Correlation With Market

Modest diversification

The correlation between Varex Imaging Corp and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Varex Imaging Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Varex Imaging Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Varex Stock

0.78	GH	Guardant Health	Pair Corr
0.81	LH	Laboratory	Pair Corr
0.82	MD	Mednax Inc	Pair Corr
0.75	OM	Outset Medical	Pair Corr
0.69	DOCS	Doximity	Pair Corr
0.74	DXCM	DexCom Inc Sell-off Trend	Pair Corr
0.83	ELMD	Electromed	Pair Corr
0.66	ENOV	Enovis Corp	Pair Corr
0.74	BSX	Boston Scientific Corp Sell-off Trend	Pair Corr
0.62	FNA	Paragon 28	Pair Corr
0.8	SYK	Stryker	Pair Corr
0.77	WGS	GeneDx Holdings Corp	Pair Corr
0.9	LNSR	LENSAR Inc	Pair Corr
0.78	MMSI	Merit Medical Systems	Pair Corr
0.74	NPCE	Neuropace	Pair Corr
0.84	OFIX	Orthofix Medical	Pair Corr
0.74	PODD	Insulet	Pair Corr
0.85	AORT	Artivion	Pair Corr
0.86	TCMD	Tactile Systems Tech	Pair Corr

Moving against Varex Stock

0.88	EKSO	Ekso Bionics Holdings	Pair Corr
0.71	VERO	Venus Concept	Pair Corr
0.57	CI	Cigna Corp	Pair Corr
0.52	DRIO	DarioHealth Corp	Pair Corr
0.62	LIFWW	MSP Recovery	Pair Corr
0.54	MDT	Medtronic PLC	Pair Corr
0.35	KIDS	Orthopediatrics Corp	Pair Corr
0.86	ME	23Andme Holding Upward Rally	Pair Corr
0.78	TNDM	Tandem Diabetes Care	Pair Corr
0.75	VALN	Valneva SE ADR	Pair Corr
0.55	A	Agilent Technologies Sell-off Trend	Pair Corr
0.4	AIMD	Ainos Inc	Pair Corr
0.35	DNLI	Denali Therapeutics	Pair Corr

Related Correlations Analysis

	SGHT	APYX	SIBN	IRMD	OFIX	NUVA	GKOS	HSKA	BRKR	FNA
SGHT		-0.54	0.56	-0.75	-0.7	-0.14	-0.82	-0.62	0.88	-0.51	SGHT
APYX	-0.54		-0.02	0.4	0.72	0.34	0.72	0.09	-0.36	0.65	APYX
SIBN	0.56	-0.02		-0.33	0.06	0.22	-0.25	-0.76	0.49	0.02	SIBN
IRMD	-0.75	0.4	-0.33		0.61	-0.11	0.74	0.66	-0.61	0.24	IRMD
OFIX	-0.7	0.72	0.06	0.61		0.53	0.82	0.07	-0.66	0.77	OFIX
NUVA	-0.14	0.34	0.22	-0.11	0.53		0.3	-0.43	-0.27	0.68	NUVA
GKOS	-0.82	0.72	-0.25	0.74	0.82	0.3		0.36	-0.74	0.61	GKOS
HSKA	-0.62	0.09	-0.76	0.66	0.07	-0.43	0.36		-0.41	-0.1	HSKA
BRKR	0.88	-0.36	0.49	-0.61	-0.66	-0.27	-0.74	-0.41		-0.45	BRKR
FNA	-0.51	0.65	0.02	0.24	0.77	0.68	0.61	-0.1	-0.45		FNA
	SGHT	APYX	SIBN	IRMD	OFIX	NUVA	GKOS	HSKA	BRKR	FNA

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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

BRKR	+ 0.88	SGHT
GKOS	+ 0.82	OFIX
FNA	+ 0.77	OFIX
GKOS	+ 0.74	IRMD
OFIX	+ 0.72	APYX
GKOS	+ 0.72	APYX

High negative correlations

GKOS	- 0.82	SGHT
HSKA	- 0.76	SIBN
IRMD	- 0.75	SGHT
BRKR	- 0.74	GKOS
OFIX	- 0.7	SGHT
BRKR	- 0.66	OFIX

Risk-Adjusted Indicators

There is a big difference between Varex Stock performing well and Varex Imaging 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 Varex Imaging'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
SGHT	3.00	(1.14)	0.00	(0.22)	0.00	0.00	6.65	(7.84)	18.22
APYX	3.53	0.34	0.08	0.62	3.37	(4.76)	10.00	(6.45)	32.02
SIBN	2.83	(0.42)	0.00	(0.11)	0.00	0.00	5.99	(4.54)	26.24
IRMD	1.52	(0.01)	0.04	0.12	1.74	(1.72)	3.26	(2.53)	11.03
OFIX	1.86	0.03	0.04	0.15	2.06	(2.07)	3.90	(3.85)	12.11
NUVA	1.23	(0.03)	0.00	(2.18)	0.00	0.00	3.31	(2.75)	7.19
GKOS	1.59	(0.10)	(0.01)	0.07	1.71	(1.75)	3.30	(2.86)	13.23
HSKA	1.18	0.58	0.81	3.73	0.00	(1.25)	3.63	(0.71)	21.36
BRKR	2.03	(0.25)	0.00	(0.15)	0.00	0.00	4.74	(3.68)	12.99
FNA	3.71	0.20	0.09	0.21	4.10	(4.00)	7.32	(6.30)	43.16

Varex Imaging Corporate Management

Kimberley JD	General Officer	Profile
Shubham Maheshwari	CFO Officer	Profile
Chad Holman	Chief VP	Profile
David Carmona	Vice Marketing	Profile
Christopher Belfiore	Director Relations	Profile

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