Doximity Correlations

DOCS Stock

USD 61.31 1.12 1.79%

The current 90-days correlation between Doximity and Schrodinger is -0.04 (i.e., Good diversification). The correlation of Doximity 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.

Doximity Correlation With Market

Average diversification

The correlation between Doximity 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 Doximity and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Doximity. 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.

For more information on how to buy Doximity Stock please use our How to Invest in Doximity guide.

Moving together with Doximity Stock

0.78	EDAP	EDAP TMS SA	Pair Corr
0.72	FEMY	Femasys	Pair Corr
0.73	ABT	Abbott Laboratories	Pair Corr

Moving against Doximity Stock

0.65	VVOS	Vivos Therapeutics Earnings Call This Week	Pair Corr
0.63	EMBC	Embecta Corp	Pair Corr
0.58	VTAK	Catheter Precision	Pair Corr
0.56	WORX	Scworx Corp	Pair Corr
0.55	VREX	Varex Imaging Corp	Pair Corr
0.51	VNRX	Volitionrx Earnings Call This Week	Pair Corr
0.51	ENSG	Ensign Group	Pair Corr
0.46	ELAB	Elevai Labs, Common Upward Rally	Pair Corr
0.45	EKSO	Ekso Bionics Holdings	Pair Corr
0.32	ENOV	Enovis Corp	Pair Corr
0.74	CNC	Centene Corp	Pair Corr
0.64	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr
0.59	FLGT	Fulgent Genetics	Pair Corr
0.51	FIGS	Figs Inc	Pair Corr
0.51	FOXO	FOXO Technologies	Pair Corr
0.45	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.4	BDX	Becton Dickinson	Pair Corr

Related Correlations Analysis

	TDOC	SDGR	TXG	PGNY	CERT	HQY	RCM	ACCD	VEEV	AMWL
TDOC		0.56	-0.09	0.48	0.76	0.79	0.0	0.3	0.38	0.79	TDOC
SDGR	0.56		-0.05	0.66	0.83	0.71	0.0	0.5	0.64	0.77	SDGR
TXG	-0.09	-0.05		-0.31	0.02	-0.09	0.0	-0.28	-0.4	-0.1	TXG
PGNY	0.48	0.66	-0.31		0.78	0.81	0.0	0.79	0.52	0.79	PGNY
CERT	0.76	0.83	0.02	0.78		0.92	0.0	0.53	0.55	0.94	CERT
HQY	0.79	0.71	-0.09	0.81	0.92		0.0	0.57	0.48	0.93	HQY
RCM	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	RCM
ACCD	0.3	0.5	-0.28	0.79	0.53	0.57	0.0		0.45	0.55	ACCD
VEEV	0.38	0.64	-0.4	0.52	0.55	0.48	0.0	0.45		0.52	VEEV
AMWL	0.79	0.77	-0.1	0.79	0.94	0.93	0.0	0.55	0.52		AMWL
	TDOC	SDGR	TXG	PGNY	CERT	HQY	RCM	ACCD	VEEV	AMWL

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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

AMWL	+ 0.94	CERT
AMWL	+ 0.93	HQY
HQY	+ 0.92	CERT
CERT	+ 0.83	SDGR
HQY	+ 0.81	PGNY
HQY	+ 0.79	TDOC

High negative correlations

VEEV	- 0.4	TXG
PGNY	- 0.31	TXG
ACCD	- 0.28	TXG
AMWL	- 0.1	TXG
HQY	- 0.09	TXG
TXG	- 0.09	TDOC

Risk-Adjusted Indicators

There is a big difference between Doximity Stock performing well and Doximity 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 Doximity'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
TDOC	3.32	0.11	0.00	(0.02)	0.00	0.00	7.65	(8.51)	22.38
SDGR	3.05	0.37	0.13	2.27	3.13	(3.41)	6.02	(5.04)	21.84
TXG	3.00	(0.20)	0.00	(0.23)	0.00	0.00	6.80	(8.94)	25.31
PGNY	2.00	0.78	0.40	1.03	1.45	(2.30)	4.41	(3.11)	19.60
CERT	2.08	0.26	0.07	0.04	2.34	(2.35)	5.16	(3.92)	16.63
HQY	1.37	0.21	0.10	0.15	2.02	(1.28)	3.23	(2.85)	9.29
RCM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ACCD	3.64	1.74	1.40	(3.29)	0.00	(5.30)	1.74	(0.86)	105.21
VEEV	1.42	0.20	0.13	0.20	1.54	(1.48)	2.98	(2.90)	10.69
AMWL	3.63	0.33	0.05	0.06	4.20	(3.96)	13.88	(6.99)	30.99

Doximity Corporate Management

Perry Gold	Head Relations	Profile
Paul Jorgensen	Chief Officer	Profile
Jim Rivas	Head Communications	Profile
Joel Davis	Senior Product	Profile
Jennifer JD	General Secretary	Profile
Bruno Miranda	Senior Engineering	Profile

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