Danaher Corporation (DHR) — Stock Correlations & Overview
Over the past year, DHR has moved most closely with TMO, RGEN, A. Explore the stocks most correlated and inversely correlated with DHR below, along with its price, financials, and company profile.
Stocks correlated with DHR
Correlation of daily returns. Higher positive values move with DHR; negative values move opposite it. Informational only, not investment advice.
Most correlated with DHR
| Symbol | Company | Correlation |
|---|---|---|
| TMO | Thermo Fisher Scientific, Inc.MEASURING & CONTROLLING DEVICES, NEC | 0.73 |
| RGEN | Repligen CorpBIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) | 0.63 |
| A | Agilent Technologies Inc.LABORATORY ANALYTICAL INSTRUMENTS | 0.61 |
| RSPH | Invesco S&P 500 Equal Weight Health Care ETF | 0.61 |
| MDEV | First Trust Indxx Medical Devices ETF | 0.60 |
Most inversely correlated with DHR
| Symbol | Company | Correlation |
|---|---|---|
| RXD | ProShares UltraShort Health Care | -0.52 |
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.42 |
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.41 |
| BIS | ProShares UltraShort NASDAQ Biotechnology | -0.38 |
| FLYD | MicroSectors Travel -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.32 |
Frequently asked questions about DHR correlations
- Which stocks are most correlated with DHR?
- Based on one year of daily returns, the stocks most correlated with Danaher Corporation (DHR) are TMO (0.73), RGEN (0.63) and A (0.61). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with DHR?
- Over the past year, the stocks most inversely correlated with Danaher Corporation (DHR) are RXD (-0.52), DWSH (-0.42) and HDGE (-0.41). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these DHR correlations calculated?
- We compute the correlation of daily returns between DHR and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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