BrightSpring Health Correlations

BTSGU Stock

69.15 1.09 1.60%

The current 90-days correlation between BrightSpring Health and Community Health Systems is 0.15 (i.e., Average diversification). The correlation of BrightSpring 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.

BrightSpring Health Correlation With Market

Weak diversification

The correlation between BrightSpring Health Services, and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BrightSpring Health Services, 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 BrightSpring Health Services,. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with BrightSpring Stock

0.79	WEAV	Weave Communications	Pair Corr
0.89	RCM	R1 RCM Inc	Pair Corr
0.88	SPOK	Spok Holdings	Pair Corr
0.71	LFMDP	LifeMD Preferred Series	Pair Corr
0.69	VAXX	Vaxxinity	Pair Corr
0.75	YCBD-PA	cbdMD Inc	Pair Corr
0.73	ELTP	Elite Pharma	Pair Corr
0.72	EPRX	Eupraxia Pharmaceuticals Upward Rally	Pair Corr
0.89	ATR	AptarGroup	Pair Corr

Moving against BrightSpring Stock

0.85	KDLYW	Kindly MD, Warrants	Pair Corr
0.81	EMMA	Emmaus Life Sciences	Pair Corr
0.74	DYNT	Dynatronics	Pair Corr
0.74	EGRX	Eagle Pharmaceuticals	Pair Corr
0.68	DWTX	Dogwood Therapeutics, Symbol Change	Pair Corr
0.47	EFTR	Effector Therapeutics	Pair Corr
0.45	VSEEW	VSee Health, Symbol Change	Pair Corr
0.42	OASMY	Oasmia Pharmaceutical	Pair Corr
0.74	CYCCP	Cyclacel Pharmaceuticals	Pair Corr
0.69	WUHN	Wuhan General Gr	Pair Corr
0.69	ENSCW	Ensysce Biosciences	Pair Corr
0.66	IRD	Opus Genetics, Symbol Change	Pair Corr
0.64	FBIOP	Fortress Biotech Pref	Pair Corr
0.59	FNCH	Finch Therapeutics	Pair Corr
0.57	STRRP	Star Equity Holdings	Pair Corr
0.41	ESMC	Escalon Medical Corp	Pair Corr
0.41	PZRXQ	PhaseRx	Pair Corr
0.35	EVFM	Evofem Biosciences	Pair Corr
0.32	CEROW	CERo Therapeutics Symbol Change	Pair Corr

Related Correlations Analysis

	VSEE	KDLYW	CYH	DVA	EHC	HCA	NHC	RHE	TOI	UHS
VSEE		-0.03	-0.06	0.18	-0.07	0.05	-0.23	-0.08	0.05	0.18	VSEE
KDLYW	-0.03		0.79	0.05	-0.74	0.74	0.29	0.5	0.63	0.84	KDLYW
CYH	-0.06	0.79		0.21	-0.69	0.95	0.0	0.58	0.69	0.89	CYH
DVA	0.18	0.05	0.21		-0.09	0.19	-0.08	-0.11	-0.21	0.19	DVA
EHC	-0.07	-0.74	-0.69	-0.09		-0.7	0.09	-0.52	-0.56	-0.69	EHC
HCA	0.05	0.74	0.95	0.19	-0.7		-0.12	0.59	0.8	0.89	HCA
NHC	-0.23	0.29	0.0	-0.08	0.09	-0.12		-0.16	-0.08	0.15	NHC
RHE	-0.08	0.5	0.58	-0.11	-0.52	0.59	-0.16		0.64	0.47	RHE
TOI	0.05	0.63	0.69	-0.21	-0.56	0.8	-0.08	0.64		0.64	TOI
UHS	0.18	0.84	0.89	0.19	-0.69	0.89	0.15	0.47	0.64		UHS
	VSEE	KDLYW	CYH	DVA	EHC	HCA	NHC	RHE	TOI	UHS

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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

HCA	+ 0.95	CYH
UHS	+ 0.89	CYH
UHS	+ 0.89	HCA
UHS	+ 0.84	KDLYW
TOI	+ 0.8	HCA
CYH	+ 0.79	KDLYW

High negative correlations

EHC	- 0.74	KDLYW
HCA	- 0.7	EHC
UHS	- 0.69	EHC
EHC	- 0.69	CYH
TOI	- 0.56	EHC
RHE	- 0.52	EHC

Risk-Adjusted Indicators

There is a big difference between BrightSpring Stock performing well and BrightSpring 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 BrightSpring 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
VSEE	5.89	0.57	0.08	(2.87)	4.94	(9.82)	18.84	(9.58)	48.10
KDLYW	8.86	(0.11)	0.01	0.08	12.19	(14.16)	30.00	(22.22)	114.83
CYH	2.81	(0.73)	0.00	(0.41)	0.00	0.00	5.03	(6.25)	28.67
DVA	1.35	0.07	0.00	0.30	2.26	(1.39)	3.21	(2.24)	14.55
EHC	0.91	0.14	0.06	0.50	0.84	(0.98)	1.74	(1.86)	9.75
HCA	1.18	(0.28)	0.00	(2.17)	0.00	0.00	2.06	(2.82)	11.25
NHC	1.50	(0.27)	0.00	(0.04)	0.00	0.00	3.12	(3.57)	11.56
RHE	3.61	0.15	0.00	(0.60)	5.55	(4.72)	7.86	(7.89)	56.39
TOI	4.80	(1.06)	0.00	(0.39)	0.00	0.00	10.00	(10.34)	39.32
UHS	1.37	(0.25)	0.00	(0.52)	0.00	0.00	2.40	(4.07)	14.88

BrightSpring Health Corporate Management

Steven Esq	Corporate Officer	Profile
Lisa Nalley	Chief Resources	Profile
BSN CHCE	Chief Officer	Profile
Phani Konduru	Chief Officer	Profile

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