CareCloud Correlations

CCLDP Stock

19.43 0.92 4.52%

The current 90-days correlation between CareCloud and CareCloud is 0.03 (i.e., Significant 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. If the correlation is 0, the equities are not correlated; they are entirely random.

CareCloud Correlation With Market

Good diversification

The correlation between CareCloud and DJI is -0.02 (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 against CareCloud Stock

0.4	ESTA	Establishment Labs	Pair Corr
0.33	EUDA	EUDA Health Holdings	Pair Corr
0.38	FLGT	Fulgent Genetics	Pair Corr
0.35	BKD	Brookdale Senior Living	Pair Corr

Related Correlations Analysis

	CCLDO	FBIOP	CSSEP	FATBP	CCLD
CCLDO		-0.19	0.0	0.71	-0.02	CCLDO
FBIOP	-0.19		0.0	-0.22	0.26	FBIOP
CSSEP	0.0	0.0		0.0	0.0	CSSEP
FATBP	0.71	-0.22	0.0		-0.18	FATBP
CCLD	-0.02	0.26	0.0	-0.18		CCLD
	CCLDO	FBIOP	CSSEP	FATBP	CCLD

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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

FATBP	+ 0.71	CCLDO
CCLD	+ 0.26	FBIOP
CSSEP	+ 0.0	CCLDO
CSSEP	+ 0.0	FBIOP
FATBP	+ 0.0	CSSEP
CCLD	+ 0.0	CSSEP

High negative correlations

FATBP	- 0.22	FBIOP
FBIOP	- 0.19	CCLDO
CCLD	- 0.18	FATBP
CCLD	- 0.02	CCLDO
CCLD	- 0.0	CSSEP
FATBP	- 0.0	CSSEP

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
CCLDO	1.30	0.19	0.19	(2.10)	1.21	(1.57)	3.22	(2.72)	9.29
FBIOP	2.47	(0.05)	0.05	(0.04)	2.77	(2.97)	7.27	(4.02)	15.52
CSSEP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FATBP	0.65	0.07	0.20	6.77	0.65	(0.85)	1.60	(1.32)	6.36
CCLD	5.37	(1.10)	0.00	(0.89)	0.00	0.00	8.82	(11.43)	43.99

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
Stephen JD	CoChief Officer	Profile

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