M3 Correlations

MTHRF Stock

USD 13.02 0.00 0.00%

The current 90-days correlation between M3 Inc and GE HealthCare Technologies is -0.08 (i.e., Good diversification). The correlation of M3 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.

M3 Correlation With Market

Good diversification

The correlation between M3 Inc and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding M3 Inc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to M3 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace M3 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 M3 - 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 M3 Inc to buy it.

Moving together with M3 Pink Sheet

0.78	VEEV	Veeva Systems Class	Pair Corr
0.81	SOLV	Solventum Corp	Pair Corr
0.84	HQY	HealthEquity	Pair Corr
0.7	AX	Axos Financial Earnings Call This Week	Pair Corr
0.76	TSLA	Tesla Inc Earnings Call Today	Pair Corr
0.76	UTMD	Utah Medical Products Earnings Call Today	Pair Corr
0.69	PTHL	Pheton Holdings	Pair Corr
0.83	CLH	Clean Harbors Earnings Call This Week	Pair Corr
0.73	ODFL	Old Dominion Freight	Pair Corr

Moving against M3 Pink Sheet

0.52	07274NBG7	BAYNGR 5 15	Pair Corr
0.36	FVR	FrontView REIT,	Pair Corr

Related Correlations Analysis

	TDOC	VEEV	TXG	GEHC	PGNY	SDGR	DOCS	AMWL
TDOC		0.56	0.84	0.58	0.25	-0.37	0.71	0.7	TDOC
VEEV	0.56		0.82	0.4	-0.21	-0.45	0.47	0.09	VEEV
TXG	0.84	0.82		0.64	0.03	-0.55	0.68	0.5	TXG
GEHC	0.58	0.4	0.64		0.07	-0.49	0.35	0.63	GEHC
PGNY	0.25	-0.21	0.03	0.07		0.33	0.36	0.38	PGNY
SDGR	-0.37	-0.45	-0.55	-0.49	0.33		-0.06	-0.28	SDGR
DOCS	0.71	0.47	0.68	0.35	0.36	-0.06		0.37	DOCS
AMWL	0.7	0.09	0.5	0.63	0.38	-0.28	0.37		AMWL
	TDOC	VEEV	TXG	GEHC	PGNY	SDGR	DOCS	AMWL

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

TXG	+ 0.84	TDOC
TXG	+ 0.82	VEEV
DOCS	+ 0.71	TDOC
AMWL	+ 0.7	TDOC
DOCS	+ 0.68	TXG
GEHC	+ 0.64	TXG

High negative correlations

SDGR	- 0.55	TXG
SDGR	- 0.49	GEHC
SDGR	- 0.45	VEEV
SDGR	- 0.37	TDOC
AMWL	- 0.28	SDGR
PGNY	- 0.21	VEEV

Risk-Adjusted Indicators

There is a big difference between M3 Pink Sheet performing well and M3 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 M3'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
TDOC	2.57	(0.03)	0.06	0.15	2.62	(2.91)	5.45	(5.04)	19.91
VEEV	1.46	0.25	0.18	0.42	1.01	(1.80)	2.60	(2.13)	21.21
TXG	3.07	0.47	0.16	0.41	3.47	(3.37)	7.11	(5.92)	16.59
GEHC	1.40	0.10	0.07	0.27	1.27	(1.65)	3.29	(2.37)	9.23
PGNY	1.76	(0.04)	(0.03)	0.11	2.65	(1.73)	3.21	(3.59)	17.54
SDGR	2.27	(0.31)	0.00	(0.12)	0.00	0.00	3.83	(6.17)	20.00
DOCS	1.89	0.04	0.01	0.21	2.87	(1.72)	3.90	(4.25)	13.89
AMWL	3.13	(0.10)	(0.01)	0.10	3.96	(3.68)	5.41	(6.09)	26.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in M3 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?

Run Latest Portfolios Now

Latest Portfolios

Quick portfolio dashboard that showcases your latest portfolios

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC