Concord Medical Correlations

CCM Stock

USD 4.09 0.19 4.87%

The current 90-days correlation between Concord Medical Services and Pennant Group is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Concord Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Concord Medical Services moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Concord Medical Correlation With Market

Significant diversification

The correlation between Concord Medical Services and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Concord Medical 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 Concord Medical 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 main economic indicators.

Moving against Concord Stock

0.41	KIDS	Orthopediatrics Corp	Pair Corr
0.5	MNDR	Mobile health Network	Pair Corr
0.36	OCX	OncoCyte Corp	Pair Corr
0.33	BMY	Bristol Myers Squibb Sell-off Trend	Pair Corr

Related Correlations Analysis

	PNTG	EHC	EHAB	NHC	AMS	SNDA	TOI	JYNT	ENSG
PNTG		-0.22	-0.4	0.71	0.88	-0.05	-0.29	-0.17	0.7	PNTG
EHC	-0.22		0.71	-0.34	-0.4	0.82	0.79	0.71	-0.01	EHC
EHAB	-0.4	0.71		-0.45	-0.57	0.54	0.73	0.77	-0.15	EHAB
NHC	0.71	-0.34	-0.45		0.82	-0.09	-0.61	-0.43	0.42	NHC
AMS	0.88	-0.4	-0.57	0.82		-0.24	-0.53	-0.36	0.62	AMS
SNDA	-0.05	0.82	0.54	-0.09	-0.24		0.6	0.54	-0.12	SNDA
TOI	-0.29	0.79	0.73	-0.61	-0.53	0.6		0.83	-0.14	TOI
JYNT	-0.17	0.71	0.77	-0.43	-0.36	0.54	0.83		-0.05	JYNT
ENSG	0.7	-0.01	-0.15	0.42	0.62	-0.12	-0.14	-0.05		ENSG
	PNTG	EHC	EHAB	NHC	AMS	SNDA	TOI	JYNT	ENSG

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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

AMS	+ 0.88	PNTG
JYNT	+ 0.83	TOI
SNDA	+ 0.82	EHC
AMS	+ 0.82	NHC
TOI	+ 0.79	EHC
JYNT	+ 0.77	EHAB

High negative correlations

TOI	- 0.61	NHC
AMS	- 0.57	EHAB
TOI	- 0.53	AMS
NHC	- 0.45	EHAB
JYNT	- 0.43	NHC
AMS	- 0.4	EHC

Risk-Adjusted Indicators

There is a big difference between Concord Stock performing well and Concord Medical 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 Concord Medical'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
PNTG	2.02	(0.25)	0.00	(0.47)	0.00	0.00	3.67	(3.99)	15.62
EHC	1.11	0.06	0.05	0.05	1.38	(1.15)	2.15	(2.36)	6.49
EHAB	1.67	0.12	0.05	0.09	2.42	(1.59)	3.81	(3.65)	10.46
NHC	1.32	(0.40)	0.00	(0.69)	0.00	0.00	2.19	(3.51)	7.80
AMS	1.52	(0.31)	0.00	1.83	0.00	0.00	3.11	(3.14)	7.59
SNDA	1.89	0.02	0.00	(0.02)	0.00	0.00	3.56	(3.93)	9.66
TOI	7.85	3.35	0.46	0.97	5.05	(11.78)	21.95	(7.87)	38.02
JYNT	1.63	0.26	0.16	0.27	1.41	(2.02)	4.55	(2.75)	10.24
ENSG	1.35	(0.10)	0.00	(0.17)	0.00	0.00	2.40	(2.56)	11.10

Concord Medical Corporate Management

Xun Liu	Financial Controller	Profile
Qing Pan	Director	Profile
Matthew Callister	Chief Medical Officer	Profile
Boxun Zhang	Independent Director	Profile

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