Accolade Correlations

ACCD Stock

USD 3.75 0.02 0.53%

The current 90-days correlation between Accolade and HealthStream is 0.49 (i.e., Very weak diversification). The correlation of Accolade 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.

Accolade Correlation With Market

Very weak diversification

The correlation between Accolade and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Accolade and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade Accolade Stock refer to our How to Trade Accolade Stock guide.

Moving together with Accolade Stock

0.89	CI	Cigna Corp	Pair Corr
0.82	FORA	Forian Inc	Pair Corr
0.79	CNC	Centene Corp Sell-off Trend	Pair Corr
0.84	ELV	Elevance Health Fiscal Year End 22nd of January 2025	Pair Corr
0.7	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.7	RVP	Retractable Technologies	Pair Corr

Moving against Accolade Stock

0.43	VREX	Varex Imaging Corp	Pair Corr
0.39	DOCS	Doximity Sell-off Trend	Pair Corr
0.36	FEMY	Femasys	Pair Corr
0.49	PEN	Penumbra	Pair Corr
0.74	VMD	Viemed Healthcare	Pair Corr
0.74	WGS	GeneDx Holdings Corp	Pair Corr
0.55	SSY	SunLink Health Systems	Pair Corr
0.55	HIMS	Hims Hers Health Trending	Pair Corr
0.47	INMD	InMode	Pair Corr
0.42	GMED	Globus Medical	Pair Corr

Related Correlations Analysis

	PRVA	HSTM	NRC	CPSI	NXGN	HCAT	DH	PINC	CERT	PHR
PRVA		0.85	0.03	0.2	0.36	0.02	0.19	0.9	-0.12	-0.02	PRVA
HSTM	0.85		-0.26	-0.14	-0.02	0.22	0.07	0.91	-0.34	-0.33	HSTM
NRC	0.03	-0.26		0.24	0.38	-0.05	0.5	-0.17	0.56	0.9	NRC
CPSI	0.2	-0.14	0.24		0.71	-0.6	0.18	-0.05	0.55	0.36	CPSI
NXGN	0.36	-0.02	0.38	0.71		-0.4	0.31	0.13	0.3	0.44	NXGN
HCAT	0.02	0.22	-0.05	-0.6	-0.4		0.34	0.19	-0.17	-0.11	HCAT
DH	0.19	0.07	0.5	0.18	0.31	0.34		0.05	0.58	0.56	DH
PINC	0.9	0.91	-0.17	-0.05	0.13	0.19	0.05		-0.37	-0.26	PINC
CERT	-0.12	-0.34	0.56	0.55	0.3	-0.17	0.58	-0.37		0.68	CERT
PHR	-0.02	-0.33	0.9	0.36	0.44	-0.11	0.56	-0.26	0.68		PHR
	PRVA	HSTM	NRC	CPSI	NXGN	HCAT	DH	PINC	CERT	PHR

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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

PINC	+ 0.91	HSTM
PINC	+ 0.9	PRVA
PHR	+ 0.9	NRC
HSTM	+ 0.85	PRVA
NXGN	+ 0.71	CPSI
PHR	+ 0.68	CERT

High negative correlations

HCAT	- 0.6	CPSI
HCAT	- 0.4	NXGN
CERT	- 0.37	PINC
CERT	- 0.34	HSTM
PHR	- 0.33	HSTM
PHR	- 0.26	PINC

Risk-Adjusted Indicators

There is a big difference between Accolade Stock performing well and Accolade 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 Accolade'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
PRVA	2.00	(0.12)	(0.01)	0.05	2.23	(2.16)	4.23	(3.57)	15.04
HSTM	1.22	0.10	0.06	0.22	1.32	(1.32)	2.33	(2.00)	10.49
NRC	1.96	(0.36)	0.00	(0.09)	0.00	0.00	3.79	(4.72)	13.17
CPSI	1.50	(0.17)	0.00	(5.20)	0.00	0.00	2.85	(3.01)	14.25
NXGN	1.10	(0.10)	0.00	1.01	0.00	0.00	2.81	(2.35)	7.28
HCAT	2.43	0.16	0.08	0.20	2.97	(2.60)	6.14	(5.64)	16.86
DH	2.05	(0.14)	(0.02)	0.04	2.41	(2.26)	4.37	(4.00)	13.20
PINC	1.31	0.12	0.09	0.23	1.23	(1.52)	2.68	(2.26)	15.06
CERT	2.00	(0.43)	0.00	(0.11)	0.00	0.00	5.82	(4.01)	15.96
PHR	2.21	(0.63)	0.00	(0.09)	0.00	0.00	4.58	(6.08)	28.02

Accolade Corporate Management

Richard JD	General VP	Profile
Robert Cavanaugh	President	Profile
Michael Hilton	Chief Officer	Profile
James MD	Senior Officer	Profile
Kristin Herrera	Executive Business	Profile
Colin McHugh	Chief Officer	Profile
Jennifer Hanson	Executive Officer	Profile

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