Idexx Laboratories Inc (IDXX) — Stock Correlations & Overview
Over the past year, IDXX has moved most closely with IHI, PAWZ, XHE. Explore the stocks most correlated and inversely correlated with IDXX below, along with its price, financials, and company profile.
Stocks correlated with IDXX
Correlation of daily returns. Higher positive values move with IDXX; negative values move opposite it. Informational only, not investment advice.
Most correlated with IDXX
| Symbol | Company | Correlation |
|---|---|---|
| IHI | iShares U.S. Medical Devices ETF | 0.64 |
| PAWZ | ProShares Pet Care ETF | 0.62 |
| XHE | State Street SPDR S&P Health Care Equipment ETF | 0.61 |
| MDEV | First Trust Indxx Medical Devices ETF | 0.59 |
| EKG | First Trust Nasdaq Lux Digital Health Solutions ETF | 0.57 |
Most inversely correlated with IDXX
| Symbol | Company | Correlation |
|---|---|---|
| FLYD | MicroSectors Travel -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.47 |
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.46 |
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.45 |
| EMTY | ProShares Decline of the Retail Store ETF | -0.44 |
| SCC | ProShares UltraShort Consumer Discretionary | -0.41 |
Frequently asked questions about IDXX correlations
- Which stocks are most correlated with IDXX?
- Based on one year of daily returns, the stocks most correlated with Idexx Laboratories Inc (IDXX) are IHI (0.64), PAWZ (0.62) and XHE (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 IDXX?
- Over the past year, the stocks most inversely correlated with Idexx Laboratories Inc (IDXX) are FLYD (-0.47), HDGE (-0.46) and DWSH (-0.45). 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 IDXX correlations calculated?
- We compute the correlation of daily returns between IDXX 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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