Molina Healthcare Correlations

MOH Stock

USD 292.28 2.03 0.70%

The current 90-days correlation between Molina Healthcare and Humana Inc is -0.09 (i.e., Good diversification). The correlation of Molina Healthcare 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.

Molina Healthcare Correlation With Market

Very good diversification

The correlation between Molina Healthcare and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Molina Healthcare and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Molina Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Molina Healthcare. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

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

Moving together with Molina Stock

0.61	WGRX	Wellgistics Health,	Pair Corr
0.7	AGL	agilon health	Pair Corr

Moving against Molina Stock

0.82	VEEV	Veeva Systems Class	Pair Corr
0.72	LH	Laboratory	Pair Corr
0.71	DH	Definitive Healthcare	Pair Corr
0.64	DXCM	DexCom Inc	Pair Corr
0.61	OM	Outset Medical	Pair Corr
0.57	EW	Edwards Lifesciences Corp	Pair Corr
0.49	VNRX	Volitionrx	Pair Corr
0.33	DRIO	DarioHealth Corp	Pair Corr
0.31	GH	Guardant Health	Pair Corr
0.64	ENSG	Ensign Group	Pair Corr
0.58	EHAB	Enhabit	Pair Corr
0.57	FIGS	Figs Inc	Pair Corr
0.56	ABT	Abbott Laboratories	Pair Corr
0.55	FLGT	Fulgent Genetics	Pair Corr
0.46	ESTA	Establishment Labs	Pair Corr
0.64	CAH	Cardinal Health	Pair Corr
0.63	FONR	Fonar	Pair Corr
0.59	AHG	Akso Health Group	Pair Corr
0.55	AVR	Anteris Technologies	Pair Corr
0.53	BKD	Brookdale Senior Living	Pair Corr
0.51	BSX	Boston Scientific Corp	Pair Corr

Related Correlations Analysis

	CI	HUM	ELV	ALHC	UNH	CNC	OSCR	BHG	CVS
CI		0.49	0.53	0.46	0.42	0.55	-0.35	0.0	0.48	CI
HUM	0.49		0.92	0.89	0.9	0.63	-0.58	0.0	0.74	HUM
ELV	0.53	0.92		0.86	0.9	0.65	-0.54	0.0	0.66	ELV
ALHC	0.46	0.89	0.86		0.88	0.57	-0.71	0.0	0.58	ALHC
UNH	0.42	0.9	0.9	0.88		0.62	-0.64	0.0	0.64	UNH
CNC	0.55	0.63	0.65	0.57	0.62		-0.17	0.0	0.22	CNC
OSCR	-0.35	-0.58	-0.54	-0.71	-0.64	-0.17		0.0	-0.45	OSCR
BHG	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	BHG
CVS	0.48	0.74	0.66	0.58	0.64	0.22	-0.45	0.0		CVS
	CI	HUM	ELV	ALHC	UNH	CNC	OSCR	BHG	CVS

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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

ELV	+ 0.92	HUM
UNH	+ 0.9	HUM
UNH	+ 0.9	ELV
ALHC	+ 0.89	HUM
UNH	+ 0.88	ALHC
ALHC	+ 0.86	ELV

High negative correlations

OSCR	- 0.71	ALHC
OSCR	- 0.64	UNH
OSCR	- 0.58	HUM
OSCR	- 0.54	ELV
CVS	- 0.45	OSCR
OSCR	- 0.35	CI

Risk-Adjusted Indicators

There is a big difference between Molina Stock performing well and Molina Healthcare 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 Molina Healthcare'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	1.08	0.02	0.00	(0.47)	1.82	(1.02)	1.97	(2.43)	9.10
HUM	1.92	(0.05)	0.00	(0.05)	0.00	0.00	4.56	(7.02)	20.17
ELV	1.62	(0.16)	0.00	(0.37)	0.00	0.00	2.99	(3.90)	15.35
ALHC	2.39	(0.08)	0.00	0.85	0.00	0.00	5.91	(5.48)	14.08
UNH	2.38	(0.58)	0.00	(2.39)	0.00	0.00	4.60	(6.34)	27.79
CNC	1.54	(0.07)	0.00	1.06	0.00	0.00	3.14	(4.40)	12.18
OSCR	3.13	0.38	0.11	0.40	2.97	(3.70)	7.17	(4.61)	40.00
BHG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CVS	1.43	0.04	0.01	0.12	2.30	(1.31)	3.41	(3.14)	12.57

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