Perkinelmer Correlations


USD 137.37  0.44  0.32%   

The correlation of Perkinelmer is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Perkinelmer moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Perkinelmer moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Please check Your Equity Center.
The ability to find closely correlated positions to Perkinelmer could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Perkinelmer 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 Perkinelmer - 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 Perkinelmer to buy it.

Moving together with Perkinelmer

+0.78HSICHenry ScheinPairCorr
+0.75PDCOPatterson Companies Earnings Call  This WeekPairCorr
+0.61ZBHZimmer Biomet HoldingsPairCorr
+0.62ALKSAlkermes PlcPairCorr

Related Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   

Perkinelmer Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Perkinelmer Stock performing well and Perkinelmer company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Perkinelmer's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
At Risk
ABC 1.29  0.15  0.09  0.27  1.33  0.08 (1.46)  2.75 (2.01)  6.03 
BAX 1.68 (0.12)  0.00 (0.05)  0.00 (0.05)  0.00  3.29 (3.17)  13.80 
BDX 1.35 (0.17)  0.00 (0.12)  0.00 (0.1)  0.00  3.18 (2.82)  7.13 
CAH 1.37  0.19  0.10  0.37  1.34  0.09 (1.55)  3.19 (2.79)  8.50 
CJJD 3.42 (0.85)  0.00 (1.18)  0.00 (0.20)  0.00  5.86 (7.97)  19.37 
EW 1.85 (0.33)  0.00 (0.50)  0.00 (0.12)  0.00  3.42 (3.16)  21.73 
HSIC 1.38  0.09  0.06  0.17  1.37  0.0486 (1.62)  3.50 (2.60)  7.66 
JNJ 0.86  0.08  0.04  0.22  1.04  0.0426 (0.88)  1.78 (1.71)  5.47 
MCK 1.29  0.06  0.02  0.18  1.62  0.0155 (1.43)  2.49 (2.75)  7.30 
MDT 1.51 (0.21)  0.00 (0.20)  0.00 (0.12)  0.00  2.59 (2.94)  10.23 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Perkinelmer 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?

Run Analyst Recommendations Now


Analyst Recommendations

Analyst recommendations and target price estimates broken down by several categories
All  Next Launch Module

Perkinelmer Corporate Directors

Perkinelmer corporate directors refer to members of a Perkinelmer board of directors. The board of directors generally takes responsibility for the Perkinelmer's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Perkinelmer's board members must vote for the resolution. The Perkinelmer board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Sylvie Gregoire - Independent DirectorProfile
Pascale Witz - Independent DirectorProfile
Patrick Sullivan - Independent DirectorProfile
Vicki Sato - Independent DirectorProfile

Invested in Perkinelmer?

The danger of trading Perkinelmer is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Perkinelmer is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Perkinelmer. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Perkinelmer is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please check Your Equity Center. You can also try Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.

Complementary Tools for analysis

When running Perkinelmer price analysis, check to measure Perkinelmer's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Perkinelmer is operating at the current time. Most of Perkinelmer's value examination focuses on studying past and present price action to predict the probability of Perkinelmer's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Perkinelmer's price. Additionally, you may evaluate how the addition of Perkinelmer to your portfolios can decrease your overall portfolio volatility.
Analyst Recommendations
Analyst recommendations and target price estimates broken down by several categories
Equity Analysis
Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities
Options Analysis
Analyze and evaluate options and option chains as a potential hedge for your portfolios
Insider Screener
Find insiders across different sectors to evaluate their impact on performance
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Fundamentals Comparison
Compare fundamentals across multiple equities to find investing opportunities
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Is Perkinelmer's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Perkinelmer. If investors know Perkinelmer will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Perkinelmer listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
Market Capitalization
17.3 B
Quarterly Revenue Growth YOY
Return On Assets
Return On Equity
The market value of Perkinelmer is measured differently than its book value, which is the value of Perkinelmer that is recorded on the company's balance sheet. Investors also form their own opinion of Perkinelmer's value that differs from its market value or its book value, called intrinsic value, which is Perkinelmer's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Perkinelmer's market value can be influenced by many factors that don't directly affect Perkinelmer's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Perkinelmer's value and its price as these two are different measures arrived at by different means. Investors typically determine Perkinelmer value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Perkinelmer's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.