Ardent Health Correlations

ARDT Stock

13.11 0.10 0.76%

The current 90-days correlation between Ardent Health Partners, and Air Lease is 0.13 (i.e., Average diversification). The correlation of Ardent Health 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.

Ardent Health Correlation With Market

Average diversification

The correlation between Ardent Health Partners, and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ardent Health Partners, 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 Ardent Health Partners,. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Ardent Stock

0.67	HAE	Haemonetics	Pair Corr
0.68	HOLX	Hologic	Pair Corr
0.63	INSP	Inspire Medical Systems	Pair Corr
0.69	TELA	Tela Bio	Pair Corr
0.73	CDIOW	Cardio Diagnostics	Pair Corr
0.77	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.7	VRDN	Viridian Therapeutics	Pair Corr
0.66	ELVN	Enliven Therapeutics Downward Rally	Pair Corr
0.78	WINT	Windtree Therapeutics	Pair Corr

Moving against Ardent Stock

0.68	PEN	Penumbra	Pair Corr
0.61	LUCD	Lucid Diagnostics	Pair Corr
0.57	KIDS	Orthopediatrics Corp	Pair Corr
0.48	ACONW	Aclarion	Pair Corr
0.46	INMD	InMode	Pair Corr
0.44	RVP	Retractable Technologies Earnings Call This Week	Pair Corr
0.37	LUNG	Pulmonx Corp	Pair Corr
0.32	HIMS	Hims Hers Health Aggressive Push	Pair Corr
0.69	NURO	NeuroMetrix	Pair Corr
0.56	MNDR	Mobile health Network	Pair Corr
0.36	DCTH	Delcath Systems	Pair Corr
0.35	PAVM	PAVmed Inc	Pair Corr
0.7	SNY	Sanofi ADR	Pair Corr
0.67	NVS	Novartis AG ADR	Pair Corr
0.64	AZN	AstraZeneca PLC ADR	Pair Corr
0.59	GSK	GlaxoSmithKline PLC ADR	Pair Corr
0.59	PLX	Protalix Biotherapeutics	Pair Corr
0.57	GILD	Gilead Sciences Potential Growth	Pair Corr

Related Correlations Analysis

	AL	ANY	EVOH	ASUR	JOBY	LIF	VCSA	UBER
AL		0.24	0.0	-0.15	0.15	0.15	-0.33	-0.02	AL
ANY	0.24		0.0	0.14	0.82	0.2	-0.59	-0.72	ANY
EVOH	0.0	0.0		0.0	0.0	0.0	0.0	0.0	EVOH
ASUR	-0.15	0.14	0.0		0.37	0.65	0.5	0.32	ASUR
JOBY	0.15	0.82	0.0	0.37		0.4	-0.26	-0.51	JOBY
LIF	0.15	0.2	0.0	0.65	0.4		0.16	0.24	LIF
VCSA	-0.33	-0.59	0.0	0.5	-0.26	0.16		0.7	VCSA
UBER	-0.02	-0.72	0.0	0.32	-0.51	0.24	0.7		UBER
	AL	ANY	EVOH	ASUR	JOBY	LIF	VCSA	UBER

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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

JOBY	+ 0.82	ANY
UBER	+ 0.7	VCSA
LIF	+ 0.65	ASUR
VCSA	+ 0.5	ASUR
LIF	+ 0.4	JOBY
JOBY	+ 0.37	ASUR

High negative correlations

UBER	- 0.72	ANY
VCSA	- 0.59	ANY
UBER	- 0.51	JOBY
VCSA	- 0.33	AL
VCSA	- 0.26	JOBY
ASUR	- 0.15	AL

Risk-Adjusted Indicators

There is a big difference between Ardent Stock performing well and Ardent Health 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 Ardent Health'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
AL	1.52	0.06	0.02	0.01	2.15	(1.59)	3.36	(4.14)	12.57
ANY	3.54	(1.31)	0.00	(1.34)	0.00	0.00	6.86	(7.69)	18.19
EVOH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASUR	2.26	0.15	0.05	0.08	2.47	(2.98)	4.04	(4.10)	21.20
JOBY	3.78	(0.12)	0.00	(68.79)	0.00	0.00	8.40	(7.71)	29.69
LIF	2.48	0.00	0.00	(0.04)	0.00	0.00	5.14	(5.31)	19.51
VCSA	2.04	0.55	0.22	2.22	1.85	(2.86)	4.72	(4.36)	31.66
UBER	1.88	0.40	0.18	0.75	2.03	(2.05)	4.72	(3.13)	12.75

Ardent Health Corporate Management

Stephen Petrovich	General VP	Profile
Jess Botros	Vice Operations	Profile
Rebecca Kirkham	Chief Officer	Profile
Benjamin Jacobs	Chief Officer	Profile
Lonnie PMP	Chief Officer	Profile
Alfred CPA	Chief Officer	Profile

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