Elevance Health Correlations

ELV Stock

USD 381.49 8.31 2.23%

The current 90-days correlation between Elevance Health and Cigna Corp is 0.52 (i.e., Very weak diversification). The correlation of Elevance Health 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.

Elevance Health Correlation With Market

Weak diversification

The correlation between Elevance Health and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elevance Health and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Elevance Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elevance Health. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more information on how to buy Elevance Stock please use our How to Invest in Elevance Health guide.

Moving together with Elevance Stock

0.74	FEMY	Femasys	Pair Corr
0.66	XAIR	Beyond Air	Pair Corr
0.91	HUM	Humana Inc	Pair Corr
0.88	MOH	Molina Healthcare	Pair Corr
0.8	TFX	Teleflex Incorporated	Pair Corr
0.72	GCTK	GlucoTrack Upward Rally	Pair Corr
0.72	KMTS	Kestra Medical Techn	Pair Corr
0.91	ALHC	Alignment Healthcare LLC	Pair Corr
0.61	BMGL	Basel Medical Group	Pair Corr
0.77	TMCI	Treace Medical Concepts	Pair Corr
0.71	CTKB	Cytek Biosciences	Pair Corr

Moving against Elevance Stock

0.85	CAH	Cardinal Health	Pair Corr
0.84	DH	Definitive Healthcare	Pair Corr
0.84	XTNT	Xtant Medical Holdings	Pair Corr
0.81	HAE	Haemonetics	Pair Corr
0.79	HIMS	Hims Hers Health Buyout Trend	Pair Corr
0.73	MASS	908 Devices	Pair Corr
0.68	AHG	Akso Health Group	Pair Corr
0.65	INFU	InfuSystems Holdings Downward Rally	Pair Corr
0.61	ISRG	Intuitive Surgical Sell-off Trend	Pair Corr
0.85	ADUS	Addus HomeCare	Pair Corr
0.84	NVNO	enVVeno Medical Corp	Pair Corr
0.76	NVST	Envista Holdings Corp	Pair Corr
0.74	POCI	Precision Optics,	Pair Corr
0.67	SNDA	Sonida Senior Living	Pair Corr
0.64	MBOT	Microbot Medical	Pair Corr
0.6	ATEC	Alphatec Holdings	Pair Corr
0.54	HSCSW	Heart Test Laboratories	Pair Corr
0.54	TNDM	Tandem Diabetes Care	Pair Corr
0.51	A	Agilent Technologies	Pair Corr
0.42	NYXH	Nyxoah	Pair Corr
0.33	UTMD	Utah Medical Products	Pair Corr

Related Correlations Analysis

	CI	UNH	CNC	MOH	HUM	CVS	ALHC
CI		0.51	0.49	0.51	0.62	0.6	0.53	CI
UNH	0.51		0.71	0.81	0.93	0.53	0.92	UNH
CNC	0.49	0.71		0.94	0.72	0.15	0.72	CNC
MOH	0.51	0.81	0.94		0.78	0.22	0.79	MOH
HUM	0.62	0.93	0.72	0.78		0.64	0.88	HUM
CVS	0.6	0.53	0.15	0.22	0.64		0.38	CVS
ALHC	0.53	0.92	0.72	0.79	0.88	0.38		ALHC
	CI	UNH	CNC	MOH	HUM	CVS	ALHC

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Risk-Adjusted Indicators

There is a big difference between Elevance Stock performing well and Elevance Health 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 Elevance Health'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
CI	1.09	0.04	0.01	0.22	1.73	(1.12)	2.27	(2.43)	9.10
UNH	2.37	(0.69)	0.00	(1.11)	0.00	0.00	4.60	(6.34)	27.79
CNC	1.54	(0.13)	0.00	(0.37)	0.00	0.00	3.14	(4.40)	12.18
MOH	1.72	(0.07)	0.00	(0.13)	0.00	0.00	3.62	(4.27)	13.77
HUM	1.90	(0.17)	0.00	(0.26)	0.00	0.00	3.94	(7.02)	20.17
CVS	1.40	0.05	0.01	0.14	2.22	(1.33)	3.41	(3.14)	12.57
ALHC	2.32	(0.32)	0.00	3.96	0.00	0.00	5.91	(5.48)	14.08

Elevance Health Corporate Management

Chris Rigg	SVP Division	Profile
Ronald Penczek	Controller VP	Profile
Scott Anglin	Treasurer SVP	Profile
John Gallina	Ex CFO	Profile
Shantanu MD	Chief Officer	Profile
Julie Goon	Senior Affairs	Profile
Felicia Norwood	Executive Benefits	Profile

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