Evolent Health Correlations

EVH Stock

USD 4.12 0.18 4.57%

The current 90-days correlation between Evolent Health and HealthStream is 0.27 (i.e., Modest diversification). The correlation of Evolent 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.

Evolent Health Correlation With Market

Average diversification

The correlation between Evolent Health and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evolent Health and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Evolent Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Evolent 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 unemployment.

For more detail on how to invest in Evolent Stock please use our How to Invest in Evolent Health guide.

Moving together with Evolent Stock

0.66	GLH	Global Health	Pair Corr
0.8	DH	Definitive Healthcare	Pair Corr
0.72	WAY	Waystar Holding Corp	Pair Corr
0.71	KOVO	Kovo Healthtech Corp	Pair Corr
0.7	TDOC	Teladoc	Pair Corr
0.88	CRKN	Crown Electrokinetics	Pair Corr

Moving against Evolent Stock

0.75	ONE	Oneview Healthcare Plc	Pair Corr
0.72	M7T	MACH7 Technologies	Pair Corr
0.72	300550	Heren Health	Pair Corr
0.46	PPERF	Bank Mandiri Persero	Pair Corr
0.94	FDX	FedEx Earnings Call This Week	Pair Corr
0.87	CBOE	Cboe Global Markets	Pair Corr
0.86	SHG	Shinhan Financial	Pair Corr
0.85	TER	Teradyne	Pair Corr
0.83	PPERY	Bank Mandiri Persero	Pair Corr
0.73	COO	Cooper Companies,	Pair Corr
0.64	PBCRF	PT Bank Central	Pair Corr
0.64	PBCRY	Bank Central Asia	Pair Corr
0.64	KB	KB Financial Group	Pair Corr
0.57	CLCO	Cool Company	Pair Corr
0.42	BKRKF	PT Bank Rakyat	Pair Corr
0.42	SWPRF	Swiss Prime Site	Pair Corr
0.39	GFS	Globalfoundries	Pair Corr
0.36	GLW	Corning Incorporated	Pair Corr

Related Correlations Analysis

	NUTX	HSTM	AMN	MYGN	REPL	AVBP	MGTX	BFLY	PSNL	KURA
NUTX		-0.65	-0.41	-0.17	0.71	0.7	0.41	0.72	0.54	0.55	NUTX
HSTM	-0.65		0.46	0.39	-0.8	-0.59	-0.32	-0.63	-0.7	-0.84	HSTM
AMN	-0.41	0.46		0.64	-0.44	-0.58	0.3	-0.38	-0.11	-0.52	AMN
MYGN	-0.17	0.39	0.64		-0.32	-0.13	0.14	-0.02	0.17	-0.27	MYGN
REPL	0.71	-0.8	-0.44	-0.32		0.52	0.34	0.59	0.71	0.76	REPL
AVBP	0.7	-0.59	-0.58	-0.13	0.52		0.07	0.77	0.59	0.71	AVBP
MGTX	0.41	-0.32	0.3	0.14	0.34	0.07		0.26	0.34	0.16	MGTX
BFLY	0.72	-0.63	-0.38	-0.02	0.59	0.77	0.26		0.76	0.75	BFLY
PSNL	0.54	-0.7	-0.11	0.17	0.71	0.59	0.34	0.76		0.8	PSNL
KURA	0.55	-0.84	-0.52	-0.27	0.76	0.71	0.16	0.75	0.8		KURA
	NUTX	HSTM	AMN	MYGN	REPL	AVBP	MGTX	BFLY	PSNL	KURA

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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

KURA	+ 0.8	PSNL
BFLY	+ 0.77	AVBP
KURA	+ 0.76	REPL
PSNL	+ 0.76	BFLY
KURA	+ 0.75	BFLY
BFLY	+ 0.72	NUTX

High negative correlations

KURA	- 0.84	HSTM
REPL	- 0.8	HSTM
PSNL	- 0.7	HSTM
HSTM	- 0.65	NUTX
BFLY	- 0.63	HSTM
AVBP	- 0.59	HSTM

Risk-Adjusted Indicators

There is a big difference between Evolent Stock performing well and Evolent 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 Evolent 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
NUTX	5.07	1.14	0.22	0.61	4.86	(5.85)	13.09	(8.54)	39.99
HSTM	1.13	(0.32)	0.00	(0.54)	0.00	0.00	2.61	(2.66)	6.59
AMN	2.43	(0.32)	0.00	(0.09)	0.00	0.00	5.56	(3.87)	18.59
MYGN	2.73	(0.14)	0.00	(0.01)	0.00	0.00	6.61	(5.76)	27.94
REPL	5.64	1.28	0.18	0.39	6.61	(6.76)	10.45	(5.07)	108.39
AVBP	2.97	0.33	0.11	0.29	3.04	(3.22)	6.31	(5.01)	15.68
MGTX	2.65	0.12	0.06	0.11	3.07	(2.85)	7.01	(5.38)	19.51
BFLY	6.02	1.04	0.23	0.31	4.78	(7.85)	18.88	(9.68)	42.22
PSNL	4.67	0.56	0.13	0.26	4.62	(5.37)	14.66	(8.78)	34.32
KURA	3.08	0.17	0.07	0.16	3.14	(3.56)	6.96	(4.87)	22.15

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