CareCloud Correlations

CCLD Stock

3.95 0.51 11.43%

The current 90-days correlation between CareCloud and Forian Inc is 0.28 (i.e., Modest diversification). The correlation of CareCloud 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.

CareCloud Correlation With Market

Good diversification

The correlation between CareCloud and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CareCloud 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 CareCloud. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with CareCloud Stock

0.68	DH	Definitive Healthcare	Pair Corr
0.62	EW	Edwards Lifesciences Corp	Pair Corr
0.81	GH	Guardant Health	Pair Corr
0.87	OM	Outset Medical	Pair Corr
0.63	DOCS	Doximity	Pair Corr
0.73	VEEV	Veeva Systems Class Downward Rally	Pair Corr
0.73	DXCM	DexCom Inc	Pair Corr
0.62	VREX	Varex Imaging Corp	Pair Corr
0.87	VVOS	Vivos Therapeutics	Pair Corr
0.65	CAH	Cardinal Health	Pair Corr
0.62	PMD	Psychemedics	Pair Corr

Moving against CareCloud Stock

0.68	DRIO	DarioHealth Corp	Pair Corr
0.52	EDAP	EDAP TMS SA	Pair Corr
0.35	VERO	Venus Concept	Pair Corr
0.74	MDT	Medtronic PLC	Pair Corr
0.55	EKSO	Ekso Bionics Holdings	Pair Corr
0.49	XRAY	Dentsply Sirona	Pair Corr
0.47	FIGS	Figs Inc Upward Rally	Pair Corr
0.47	DHR	Danaher	Pair Corr
0.45	COO	Cooper Companies,	Pair Corr
0.43	AHG	Akso Health Group	Pair Corr
0.36	AWH	Aspira Womens Health	Pair Corr
0.74	ICUI	ICU Medical	Pair Corr
0.7	HOLX	Hologic	Pair Corr
0.63	MASS	908 Devices	Pair Corr
0.62	XTNT	Xtant Medical Holdings	Pair Corr

Related Correlations Analysis

	FORA	HSTM	NRC	CPSI	TRHC	STRM	NXGN	PRVA	EVH
FORA		-0.6	0.6	0.49	-0.64	0.39	0.54	-0.5	0.72	FORA
HSTM	-0.6		-0.23	-0.22	0.89	-0.01	-0.13	0.93	-0.9	HSTM
NRC	0.6	-0.23		0.42	-0.46	0.42	0.54	-0.09	0.49	NRC
CPSI	0.49	-0.22	0.42		-0.24	0.57	0.71	0.01	0.31	CPSI
TRHC	-0.64	0.89	-0.46	-0.24		-0.02	-0.1	0.81	-0.9	TRHC
STRM	0.39	-0.01	0.42	0.57	-0.02		0.59	0.09	0.08	STRM
NXGN	0.54	-0.13	0.54	0.71	-0.1	0.59		-0.03	0.28	NXGN
PRVA	-0.5	0.93	-0.09	0.01	0.81	0.09	-0.03		-0.8	PRVA
EVH	0.72	-0.9	0.49	0.31	-0.9	0.08	0.28	-0.8		EVH
	FORA	HSTM	NRC	CPSI	TRHC	STRM	NXGN	PRVA	EVH

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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

PRVA	+ 0.93	HSTM
TRHC	+ 0.89	HSTM
PRVA	+ 0.81	TRHC
EVH	+ 0.72	FORA
NXGN	+ 0.71	CPSI
NRC	+ 0.6	FORA

High negative correlations

EVH	- 0.9	TRHC
EVH	- 0.9	HSTM
EVH	- 0.8	PRVA
TRHC	- 0.64	FORA
HSTM	- 0.6	FORA
PRVA	- 0.5	FORA

Risk-Adjusted Indicators

There is a big difference between CareCloud Stock performing well and CareCloud 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 CareCloud'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
FORA	1.33	(0.09)	0.00	0.32	0.00	0.00	2.82	(2.86)	9.93
HSTM	1.21	0.12	0.08	0.24	1.26	(1.33)	2.36	(1.99)	10.49
NRC	1.95	(0.38)	0.00	(0.08)	0.00	0.00	3.79	(4.72)	13.17
CPSI	1.50	(0.17)	0.00	(2.32)	0.00	0.00	2.85	(3.01)	14.25
TRHC	2.76	0.79	0.19	(1.12)	2.59	(3.14)	7.81	(4.61)	14.89
STRM	7.60	(0.45)	0.00	(0.33)	0.00	0.00	19.55	(14.33)	55.52
NXGN	1.10	(0.09)	0.00	0.77	0.00	0.00	2.81	(2.35)	7.28
PRVA	2.06	0.01	0.05	0.12	2.29	(2.23)	4.23	(3.55)	15.04
EVH	3.32	(1.26)	0.00	(0.88)	0.00	0.00	5.49	(6.29)	51.11

CareCloud Corporate Management

Kimberly Esq	VP Counsel	Profile
Nathalie Garcia	Chief Counsel	Profile
Kaitlyn Mode	Corporate Manager	Profile
Mike Cuesta	Chief Officer	Profile
Adeel Sarwar	Chief Officer	Profile
Steve Link	Chief Officer	Profile

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