Dentsply Sirona Correlations
| XRAY Stock | USD 30.85 0.28 0.92% |
The correlation of Dentsply Sirona 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dentsply Sirona moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dentsply Sirona 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.
Poor diversification
The correlation between Dentsply Sirona and NYA is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dentsply Sirona and NYA in the same portfolio, assuming nothing else is changed.
Dentsply |
The ability to find closely correlated positions to Dentsply Sirona could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dentsply Sirona 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 Dentsply Sirona - 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 Dentsply Sirona to buy it.
Moving together with Dentsply Stock
| 0.65 | AHG | Akso Health Group Earnings Call Shortly | PairCorr |
| 0.75 | SSY | SunLink Health Systems | PairCorr |
| 0.73 | TFX | Teleflex Incorporated Earnings Call This Week | PairCorr |
| 0.64 | XTNT | Xtant Medical Holdings Earnings Call This Week | PairCorr |
| 0.61 | IDXX | IDEXX Laboratories Earnings Call This Week | PairCorr |
| 0.88 | MASS | 908 Devices Financial Report 14th of May 2024 | PairCorr |
| 0.82 | MBOT | Microbot Medical Financial Report 15th of May 2024 | PairCorr |
| 0.65 | MMSI | Merit Medical Systems | PairCorr |
| 0.85 | MYND | MYnd Analytics Symbol Change | PairCorr |
| 0.62 | HSCSW | Heart Test Laboratories | PairCorr |
| 0.61 | AFIB | Acutus MedicalInc | PairCorr |
Moving against Dentsply Stock
| 0.8 | GCTK | GlucoTrack | PairCorr |
| 0.72 | SNDA | Sonida Senior Living | PairCorr |
| 0.67 | TNDM | Tandem Diabetes Care Financial Report 1st of May 2024 | PairCorr |
| 0.55 | JYNT | Joint Corp Financial Report 2nd of May 2024 | PairCorr |
| 0.5 | TLIS | Talis Biomedical Corp | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Dentsply Stock performing well and Dentsply Sirona 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 Dentsply Sirona'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MMSI | 1.02 | (0.20) | 0.00 | (0.12) | 0.00 | 2.21 | 7.64 | |||
| ICUI | 1.95 | (0.13) | (0.01) | 0.02 | 2.33 | 4.31 | 14.60 | |||
| COO | 1.06 | (0.20) | 0.00 | (0.07) | 0.00 | 2.27 | 11.88 | |||
| ANGO | 2.32 | (0.14) | 0.00 | (0.01) | 0.00 | 5.45 | 16.17 | |||
| TFX | 1.19 | (0.35) | 0.00 | (0.16) | 0.00 | 2.40 | 8.62 | |||
| WST | 1.59 | 0.02 | 0.00 | 0.11 | 2.69 | 3.70 | 18.44 | |||
| ALC | 1.01 | (0.04) | (0.03) | 0.04 | 1.02 | 2.14 | 7.38 | |||
| RMD | 1.72 | 0.26 | 0.17 | 0.23 | 1.67 | 3.74 | 14.45 | |||
| HOLX | 0.86 | (0.03) | (0.04) | 0.04 | 1.13 | 1.66 | 6.09 | |||
| HAE | 1.46 | 0.06 | 0.05 | 0.13 | 1.79 | 2.93 | 7.29 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Dentsply Sirona 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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Dentsply Sirona Corporate Directors
Dentsply Sirona corporate directors refer to members of a Dentsply Sirona board of directors. The board of directors generally takes responsibility for the Dentsply Sirona'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 Dentsply Sirona's board members must vote for the resolution. The Dentsply Sirona board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Thomas Jetter | Lead Director, Independent Director | Profile | |
| Paula Cholmondeley | Independent Director | Profile | |
| Francis Lunger | Independent Director | Profile | |
| Betsy Holden | Director | Profile |
Already Invested in Dentsply Sirona?
The danger of trading Dentsply Sirona 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 Dentsply Sirona 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 Dentsply Sirona. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Dentsply Sirona 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.
When determining whether Dentsply Sirona offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Dentsply Sirona's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Dentsply Sirona Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Dentsply Sirona Stock: Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Dentsply Sirona. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. For more information on how to buy Dentsply Stock please use our How to Invest in Dentsply Sirona guide.Note that the Dentsply Sirona information on this page should be used as a complementary analysis to other Dentsply Sirona's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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When running Dentsply Sirona's price analysis, check to measure Dentsply Sirona'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 Dentsply Sirona is operating at the current time. Most of Dentsply Sirona's value examination focuses on studying past and present price action to predict the probability of Dentsply Sirona's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Dentsply Sirona's price. Additionally, you may evaluate how the addition of Dentsply Sirona to your portfolios can decrease your overall portfolio volatility.
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Is Dentsply Sirona'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 Dentsply Sirona. If investors know Dentsply 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 Dentsply Sirona 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 0.178 | Dividend Share 0.56 | Earnings Share (0.62) | Revenue Per Share 18.703 | Quarterly Revenue Growth 0.03 |
The market value of Dentsply Sirona is measured differently than its book value, which is the value of Dentsply that is recorded on the company's balance sheet. Investors also form their own opinion of Dentsply Sirona's value that differs from its market value or its book value, called intrinsic value, which is Dentsply Sirona'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 Dentsply Sirona's market value can be influenced by many factors that don't directly affect Dentsply Sirona'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 Dentsply Sirona's value and its price as these two are different measures arrived at by different means. Investors typically determine if Dentsply Sirona is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Dentsply Sirona'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.