Health Catalyst Correlations
| HCAT Stock | USD 6.48 0.06 0.92% |
The correlation of Health Catalyst 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Health Catalyst moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Health Catalyst moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between Health Catalyst and NYA is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Health Catalyst and NYA in the same portfolio, assuming nothing else is changed.
Health |
The ability to find closely correlated positions to Health Catalyst could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Health Catalyst when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Health Catalyst - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Health Catalyst to buy it.
Moving together with Health Stock
| 0.84 | DH | Definitive Healthcare Earnings Call This Week | PairCorr |
| 0.82 | GH | Guardant Health Earnings Call This Week | PairCorr |
| 0.89 | LH | Laboratory | PairCorr |
| 0.65 | OM | Outset MedicalInc | PairCorr |
| 0.85 | DOCS | Doximity Financial Report 21st of May 2024 | PairCorr |
| 0.81 | DRIO | DarioHealth Corp Earnings Call This Week | PairCorr |
| 0.82 | FIGS | Figs Inc | PairCorr |
| 0.83 | AHG | Akso Health Group | PairCorr |
| 0.71 | AMN | AMN Healthcare Services Earnings Call This Week | PairCorr |
Moving against Health Stock
| 0.7 | CI | Cigna Corp | PairCorr |
| 0.6 | DXCM | DexCom Inc | PairCorr |
| 0.57 | ELMD | Electromed Earnings Call This Week | PairCorr |
| 0.87 | EHC | Encompass Health Corp | PairCorr |
| 0.74 | BSX | Boston Scientific Corp | PairCorr |
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Health Catalyst without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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| All Next | Launch Module |
Health Catalyst Corporate Management
Elected by the shareholders, the Health Catalyst's board of directors comprises two types of representatives: Health Catalyst inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Health. The board's role is to monitor Health Catalyst's management team and ensure that shareholders' interests are well served. Health Catalyst's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Health Catalyst's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Maxine Liu | Senior Interopability | Profile | |
| Holly Rimmasch | Senior Officer | Profile | |
| Kevin Freeman | Chief Officer | Profile | |
| Paul Horstmeier | Chief Officer | Profile | |
| Tarah Bryan | Chief Officer | Profile | |
| Ryan Barry | Chief Services | Profile | |
| Kyle Salyers | Chief Development | Profile |
Already Invested in Health Catalyst?
The danger of trading Health Catalyst is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Health Catalyst is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Health Catalyst. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Health Catalyst is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Health Catalyst is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Health Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Health Catalyst Stock. Highlighted below are key reports to facilitate an investment decision about Health Catalyst Stock: Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Health Catalyst. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. For more information on how to buy Health Stock please use our How to Invest in Health Catalyst guide.Note that the Health Catalyst information on this page should be used as a complementary analysis to other Health Catalyst's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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When running Health Catalyst's price analysis, check to measure Health Catalyst's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Health Catalyst is operating at the current time. Most of Health Catalyst's value examination focuses on studying past and present price action to predict the probability of Health Catalyst's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Health Catalyst's price. Additionally, you may evaluate how the addition of Health Catalyst to your portfolios can decrease your overall portfolio volatility.
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Is Health Catalyst's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Health Catalyst. If investors know Health will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Health Catalyst listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (2.09) | Revenue Per Share 5.245 | Quarterly Revenue Growth 0.086 | Return On Assets (0.07) | Return On Equity (0.30) |
The market value of Health Catalyst is measured differently than its book value, which is the value of Health that is recorded on the company's balance sheet. Investors also form their own opinion of Health Catalyst's value that differs from its market value or its book value, called intrinsic value, which is Health Catalyst's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Health Catalyst's market value can be influenced by many factors that don't directly affect Health Catalyst's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Health Catalyst's value and its price as these two are different measures arrived at by different means. Investors typically determine if Health Catalyst is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Health Catalyst's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.