HealthEquity Correlations
HQY Stock | USD 96.91 0.50 0.51% |
The current 90-days correlation between HealthEquity and Evolent Health is 0.2 (i.e., Modest diversification). The correlation of HealthEquity 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.
HealthEquity Correlation With Market
Very weak diversification
The correlation between HealthEquity and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HealthEquity and DJI in the same portfolio, assuming nothing else is changed.
HealthEquity | Build AI portfolio with HealthEquity Stock |
Moving together with HealthEquity Stock
0.68 | DH | Definitive Healthcare | PairCorr |
0.8 | LH | Laboratory Earnings Call Today | PairCorr |
0.88 | OM | Outset Medical | PairCorr |
0.78 | VEEV | Veeva Systems Class | PairCorr |
0.77 | DXCM | DexCom Inc | PairCorr |
0.91 | ENSG | Ensign Group | PairCorr |
0.72 | CAH | Cardinal Health | PairCorr |
Moving against HealthEquity Stock
0.71 | EKSO | Ekso Bionics Holdings Earnings Call This Week | PairCorr |
0.64 | EMBC | Embecta Corp | PairCorr |
0.56 | DRIO | DarioHealth Corp | PairCorr |
0.54 | ECOR | Electrocore LLC | PairCorr |
0.52 | ELAB | Elevai Labs, Common | PairCorr |
0.51 | CI | Cigna Corp Earnings Call This Week | PairCorr |
0.51 | ELMD | Electromed | PairCorr |
0.35 | VSEE | VSee Health, | PairCorr |
0.73 | ALC | Alcon AG | PairCorr |
0.71 | WGRX | Wellgistics Health, | PairCorr |
0.69 | HUM | Humana Inc Earnings Call This Week | PairCorr |
0.67 | FOXO | FOXO Technologies | PairCorr |
0.57 | WORX | Scworx Corp | PairCorr |
0.48 | EUDA | EUDA Health Holdings | PairCorr |
0.38 | XAIR | Beyond Air | PairCorr |
0.34 | ELV | Elevance Health | PairCorr |
Related Correlations Analysis
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between HealthEquity Stock performing well and HealthEquity 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 HealthEquity'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
EVH | 3.13 | (0.19) | 0.02 | 0.13 | 5.16 | 6.94 | 28.95 | |||
PINC | 0.86 | 0.17 | (0.04) | (9.49) | 0.67 | 1.33 | 13.63 | |||
OMCL | 2.05 | (0.41) | 0.00 | (0.04) | 0.00 | 4.28 | 18.41 | |||
PGNY | 1.75 | (0.02) | (0.02) | 0.18 | 2.55 | 3.21 | 17.54 | |||
OLLI | 1.87 | (0.02) | 0.03 | 0.19 | 1.94 | 4.38 | 11.27 | |||
APPF | 1.81 | 0.00 | 0.03 | 0.21 | 3.77 | 3.98 | 23.12 | |||
LOPE | 1.08 | (0.20) | 0.00 | (0.04) | 0.00 | 1.92 | 9.08 | |||
GMED | 1.76 | (0.68) | 0.00 | (0.22) | 0.00 | 2.16 | 25.43 |
HealthEquity Corporate Management
Cheryl King | Executive Officer | Profile | |
Tia Padia | Executive Officer | Profile | |
Richard Putnam | IR Contact Officer | Profile | |
Jeff Venuti | New Consultant | Profile |