Cigna Corp Correlations

CI Stock

USD 322.43 5.63 1.78%

The current 90-days correlation between Cigna Corp and Elevance Health is 0.46 (i.e., Very weak diversification). The correlation of Cigna Corp 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.

Cigna Corp Correlation With Market

Average diversification

The correlation between Cigna Corp and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cigna Corp 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 Cigna Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more detail on how to invest in Cigna Stock please use our How to Invest in Cigna Corp guide.

Moving together with Cigna Stock

0.74	EHAB	Enhabit	Pair Corr
0.72	FEMY	Femasys	Pair Corr
0.8	ABT	Abbott Laboratories	Pair Corr
0.78	AGL	agilon health	Pair Corr
0.7	ALC	Alcon AG	Pair Corr
0.61	BAX	Baxter International	Pair Corr

Moving against Cigna Stock

0.84	WORX	Scworx Corp	Pair Corr
0.83	ELAB	Elevai Labs, Common Upward Rally	Pair Corr
0.83	FIGS	Figs Inc	Pair Corr
0.82	EKSO	Ekso Bionics Holdings	Pair Corr
0.74	VREX	Varex Imaging Corp	Pair Corr
0.73	OM	Outset Medical	Pair Corr
0.68	VVOS	Vivos Therapeutics Earnings Call This Week	Pair Corr
0.61	VERO	Venus Concept	Pair Corr
0.61	EUDA	EUDA Health Holdings	Pair Corr
0.59	VNRX	Volitionrx Earnings Call This Week	Pair Corr
0.59	ECOR	Electrocore LLC	Pair Corr
0.56	VTAK	Catheter Precision	Pair Corr
0.55	ELMD	Electromed Potential Growth	Pair Corr
0.53	EMBC	Embecta Corp	Pair Corr
0.49	EW	Edwards Lifesciences Corp	Pair Corr
0.48	FLGT	Fulgent Genetics	Pair Corr
0.47	DH	Definitive Healthcare Buyout Trend	Pair Corr
0.42	ENOV	Enovis Corp	Pair Corr
0.37	DRIO	DarioHealth Corp Earnings Call This Week	Pair Corr
0.32	ENSG	Ensign Group	Pair Corr
0.87	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr
0.85	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.85	ENZ	Enzo Biochem	Pair Corr
0.78	XAIR	Beyond Air	Pair Corr
0.76	FOXO	FOXO Technologies	Pair Corr
0.74	EVH	Evolent Health	Pair Corr
0.56	FONR	Fonar	Pair Corr
0.56	DHR	Danaher	Pair Corr

Related Correlations Analysis

	ELV	UNH	CNC	MOH	HUM	ALHC	CVS
ELV		-0.01	0.0	0.63	0.11	0.68	0.29	ELV
UNH	-0.01		0.59	-0.08	0.62	0.04	-0.35	UNH
CNC	0.0	0.59		0.34	0.74	0.0	-0.44	CNC
MOH	0.63	-0.08	0.34		0.14	0.38	0.09	MOH
HUM	0.11	0.62	0.74	0.14		0.45	-0.06	HUM
ALHC	0.68	0.04	0.0	0.38	0.45		0.54	ALHC
CVS	0.29	-0.35	-0.44	0.09	-0.06	0.54		CVS
	ELV	UNH	CNC	MOH	HUM	ALHC	CVS

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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

HUM	+ 0.74	CNC
ALHC	+ 0.68	ELV
MOH	+ 0.63	ELV
HUM	+ 0.62	UNH
CNC	+ 0.59	UNH
CVS	+ 0.54	ALHC

High negative correlations

CVS	- 0.44	CNC
CVS	- 0.35	UNH
MOH	- 0.08	UNH
CVS	- 0.06	HUM
UNH	- 0.01	ELV
ALHC	- 0.0	CNC

Risk-Adjusted Indicators

There is a big difference between Cigna Stock performing well and Cigna Corp 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 Cigna Corp'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
ELV	1.23	0.33	0.27	1.07	1.11	(1.34)	3.05	(2.61)	8.26
UNH	1.36	0.14	0.07	0.09	2.20	(1.37)	2.47	(4.35)	11.09
CNC	1.37	0.06	0.05	0.01	2.05	(1.46)	3.02	(3.46)	11.30
MOH	2.04	0.23	0.08	0.24	3.06	(2.05)	4.82	(4.66)	14.91
HUM	1.69	0.24	0.15	(2.75)	2.03	(1.78)	3.89	(3.28)	12.48
ALHC	2.19	0.79	0.34	(1.12)	2.06	(2.54)	4.04	(3.54)	21.92
CVS	1.87	0.46	0.20	0.35	2.03	(2.22)	4.36	(4.21)	17.42

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