Goodrx Holdings Correlations

GDRX Stock

USD 4.60 0.12 2.68%

The current 90-days correlation between Goodrx Holdings and Teladoc is -0.14 (i.e., Good diversification). The correlation of Goodrx Holdings 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.

Goodrx Holdings Correlation With Market

Good diversification

The correlation between Goodrx Holdings and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goodrx Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Goodrx Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Goodrx Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Goodrx Stock

0.68	CVS	CVS Health Corp	Pair Corr
0.61	MXCT	MaxCyte	Pair Corr

Moving against Goodrx Stock

0.65	HCA	HCA Holdings	Pair Corr
0.56	EHAB	Enhabit	Pair Corr
0.56	THC	Tenet Healthcare	Pair Corr
0.53	NHC	National HealthCare	Pair Corr
0.51	ENSG	Ensign Group	Pair Corr
0.47	EHC	Encompass Health Corp	Pair Corr
0.37	CAH	Cardinal Health	Pair Corr
0.6	PNTG	Pennant Group	Pair Corr
0.59	INNV	InnovAge Holding Corp	Pair Corr
0.56	RDNT	RadNet Inc	Pair Corr
0.56	ADUS	Addus HomeCare	Pair Corr
0.55	NUTX	Nutex Health	Pair Corr

Related Correlations Analysis

	TDOC	TALK	ACCD	DOCS	VEEV	PGNY	TXG	DH	NRC	EVH
TDOC		-0.29	-0.59	0.69	-0.12	-0.02	0.36	-0.09	0.2	0.35	TDOC
TALK	-0.29		0.18	-0.07	0.5	0.1	0.14	0.38	0.15	-0.31	TALK
ACCD	-0.59	0.18		-0.42	0.12	0.1	-0.28	0.17	-0.17	-0.28	ACCD
DOCS	0.69	-0.07	-0.42		0.09	0.24	0.48	0.15	0.34	0.47	DOCS
VEEV	-0.12	0.5	0.12	0.09		-0.34	0.78	0.87	0.81	-0.55	VEEV
PGNY	-0.02	0.1	0.1	0.24	-0.34		-0.38	-0.42	-0.4	0.73	PGNY
TXG	0.36	0.14	-0.28	0.48	0.78	-0.38		0.78	0.89	-0.28	TXG
DH	-0.09	0.38	0.17	0.15	0.87	-0.42	0.78		0.83	-0.53	DH
NRC	0.2	0.15	-0.17	0.34	0.81	-0.4	0.89	0.83		-0.33	NRC
EVH	0.35	-0.31	-0.28	0.47	-0.55	0.73	-0.28	-0.53	-0.33		EVH
	TDOC	TALK	ACCD	DOCS	VEEV	PGNY	TXG	DH	NRC	EVH

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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

NRC	+ 0.89	TXG
DH	+ 0.87	VEEV
NRC	+ 0.83	DH
NRC	+ 0.81	VEEV
TXG	+ 0.78	VEEV
DH	+ 0.78	TXG

High negative correlations

ACCD	- 0.59	TDOC
EVH	- 0.55	VEEV
EVH	- 0.53	DH
DH	- 0.42	PGNY
DOCS	- 0.42	ACCD
NRC	- 0.4	PGNY

Risk-Adjusted Indicators

There is a big difference between Goodrx Stock performing well and Goodrx Holdings 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 Goodrx Holdings' 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
TDOC	2.54	(0.10)	0.00	(0.04)	0.00	0.00	4.91	(5.04)	18.18
TALK	2.69	0.01	0.00	0.03	3.09	(3.10)	7.35	(5.00)	19.96
ACCD	3.13	1.58	1.46	(33.05)	0.00	(4.35)	0.58	(0.29)	105.21
DOCS	2.36	(0.05)	0.00	0.25	0.00	0.00	4.56	(6.12)	19.72
VEEV	1.61	0.26	0.16	0.38	1.34	(1.93)	3.26	(2.49)	21.21
PGNY	1.63	0.00	(0.01)	0.01	2.70	(1.46)	3.21	(3.30)	14.21
TXG	3.60	0.12	0.03	0.08	4.51	(3.78)	5.66	(6.48)	32.62
DH	2.73	0.60	0.16	0.90	2.74	(3.32)	5.69	(4.85)	36.59
NRC	2.68	0.15	0.04	0.20	3.47	(2.62)	5.53	(5.53)	15.47
EVH	3.00	(0.05)	0.00	0.21	0.00	0.00	6.80	(5.91)	23.49

Goodrx Holdings Corporate Management

Andrew Slutsky	Chief Officer	Profile
Nitin Shingate	Chief Officer	Profile
Mark Hull	Chief Officer	Profile
Babak Azad	Chief Communications	Profile

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