CareCloud Correlations

CCLDO Stock

18.20 0.43 2.42%

The current 90-days correlation between CareCloud and CareCloud is 0.83 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CareCloud moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CareCloud moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CareCloud Correlation With Market

Good diversification

The correlation between CareCloud and DJI is -0.13 (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 unemployment.

To learn how to invest in CareCloud Stock, please use our How to Invest in CareCloud guide.

Moving together with CareCloud Stock

0.9	GH	Guardant Health	Pair Corr
0.75	LH	Laboratory	Pair Corr
0.81	OM	Outset Medical	Pair Corr
0.76	DOCS	Doximity	Pair Corr
0.78	DXCM	DexCom Inc	Pair Corr
0.77	VREX	Varex Imaging Corp	Pair Corr
0.67	VVOS	Vivos Therapeutics Trending	Pair Corr
0.69	XAIR	Beyond Air	Pair Corr
0.84	CAH	Cardinal Health	Pair Corr
0.75	DGX	Quest Diagnostics	Pair Corr
0.78	HAE	Haemonetics	Pair Corr

Moving against CareCloud Stock

0.77	DRIO	DarioHealth Corp	Pair Corr
0.63	EDAP	EDAP TMS SA	Pair Corr
0.58	VERO	Venus Concept	Pair Corr
0.32	VTAK	Catheter Precision	Pair Corr
0.85	MDT	Medtronic PLC	Pair Corr
0.78	EKSO	Ekso Bionics Holdings	Pair Corr
0.76	XRAY	Dentsply Sirona	Pair Corr
0.75	COO	Cooper Companies, Sell-off Trend	Pair Corr
0.74	FIGS	Figs Inc	Pair Corr
0.72	DHR	Danaher	Pair Corr
0.6	AWH	Aspira Womens Health	Pair Corr
0.59	FLGT	Fulgent Genetics	Pair Corr
0.41	AHG	Akso Health Group	Pair Corr
0.33	CVS	CVS Health Corp	Pair Corr
0.32	SSY	SunLink Health Systems	Pair Corr
0.91	MASS	908 Devices	Pair Corr
0.84	GCTK	GlucoTrack	Pair Corr
0.8	TFX	Teleflex Incorporated	Pair Corr
0.77	XTNT	Xtant Medical Holdings	Pair Corr

Related Correlations Analysis

	CCLDP	AUVIP	CCLD	FBIOP	FATBP
CCLDP		-0.36	0.72	0.26	0.18	CCLDP
AUVIP	-0.36		-0.17	-0.06	0.36	AUVIP
CCLD	0.72	-0.17		0.67	0.51	CCLD
FBIOP	0.26	-0.06	0.67		0.49	FBIOP
FATBP	0.18	0.36	0.51	0.49		FATBP
	CCLDP	AUVIP	CCLD	FBIOP	FATBP

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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

CCLD	+ 0.72	CCLDP
FBIOP	+ 0.67	CCLD
FATBP	+ 0.51	CCLD
FATBP	+ 0.49	FBIOP
FATBP	+ 0.36	AUVIP
FBIOP	+ 0.26	CCLDP

High negative correlations

AUVIP	- 0.36	CCLDP
CCLD	- 0.17	AUVIP
FBIOP	- 0.06	AUVIP

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
CCLDP	2.20	0.90	0.40	(0.86)	1.09	(3.00)	5.72	(2.43)	34.13
AUVIP	18.21	(2.60)	0.00	(0.61)	0.00	0.00	60.00	(56.46)	205.33
CCLD	4.41	1.32	0.18	(0.92)	4.98	(5.24)	12.86	(5.31)	43.60
FBIOP	2.66	0.18	0.06	0.31	2.58	(3.32)	8.11	(4.72)	18.73
FATBP	0.74	(0.07)	0.00	(0.16)	0.00	0.00	2.27	(1.40)	7.69

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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