Forian Correlations

FORA Stock

USD 2.08 0.06 2.97%

The current 90-days correlation between Forian Inc and HealthStream is 0.15 (i.e., Average diversification). The correlation of Forian 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.

Forian Correlation With Market

Significant diversification

The correlation between Forian Inc and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Forian Inc 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 Forian Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Forian Stock

0.67	DOCS	Doximity	Pair Corr
0.66	EDAP	EDAP TMS SA	Pair Corr

Moving against Forian Stock

0.47	ESTA	Establishment Labs	Pair Corr
0.61	DXR	Daxor	Pair Corr
0.46	DHR	Danaher	Pair Corr
0.37	FLGT	Fulgent Genetics	Pair Corr
0.35	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr
0.33	CNC	Centene Corp	Pair Corr

Related Correlations Analysis

	HSTM	NRC	TRHC	HQY	HCAT	NXGN	AGTI	MDRX
HSTM		-0.05	0.0	0.73	-0.21	0.0	0.0	0.0	HSTM
NRC	-0.05		0.0	-0.09	0.76	0.0	0.0	0.0	NRC
TRHC	0.0	0.0		0.0	0.0	0.0	0.0	0.0	TRHC
HQY	0.73	-0.09	0.0		-0.45	0.0	0.0	0.0	HQY
HCAT	-0.21	0.76	0.0	-0.45		0.0	0.0	0.0	HCAT
NXGN	0.0	0.0	0.0	0.0	0.0		0.0	0.0	NXGN
AGTI	0.0	0.0	0.0	0.0	0.0	0.0		0.0	AGTI
MDRX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		MDRX
	HSTM	NRC	TRHC	HQY	HCAT	NXGN	AGTI	MDRX

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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

HCAT	+ 0.76	NRC
HQY	+ 0.73	HSTM
TRHC	+ 0.0	HSTM
NXGN	+ 0.0	HSTM
AGTI	+ 0.0	HSTM
MDRX	+ 0.0	HSTM

High negative correlations

HCAT	- 0.45	HQY
HCAT	- 0.21	HSTM
HQY	- 0.09	NRC
NRC	- 0.05	HSTM
MDRX	- 0.0	AGTI
MDRX	- 0.0	NXGN

Risk-Adjusted Indicators

There is a big difference between Forian Stock performing well and Forian 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 Forian'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
HSTM	0.97	(0.01)	0.00	(0.11)	0.00	0.00	1.68	(2.54)	6.42
NRC	1.98	(0.19)	0.00	(0.27)	0.00	0.00	3.81	(3.35)	16.14
TRHC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HQY	1.43	0.21	0.09	0.09	2.07	(1.32)	3.23	(2.79)	9.58
HCAT	2.93	(1.02)	0.00	0.63	0.00	0.00	5.44	(7.22)	16.58
NXGN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AGTI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MDRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Forian Corporate Management

David Terrell	BioTrack Officer	Profile
Michael Vesey	Chief Officer	Profile
Michael CPA	Chief Officer	Profile
Paul Reuscher	Chief Officer	Profile
Max Wygod	CoFounder Chairman	Profile
Adam Dublin	Chief CoFounder	Profile

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