Healthcare Correlations

HAIAW Stock

USD 0.02 0.00 0.00%

The current 90-days correlation between Healthcare AI Acquisition and Visa Class A is -0.11 (i.e., Good diversification). The correlation of Healthcare 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.

Healthcare Correlation With Market

Significant diversification

The correlation between Healthcare AI Acquisition and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Healthcare AI Acquisition and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving against Healthcare Stock

0.56	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.56	APO	Apollo Global Management	Pair Corr
0.55	BLK	BlackRock Fiscal Year End 10th of January 2025	Pair Corr
0.55	BK	Bank of New York Fiscal Year End 10th of January 2025	Pair Corr
0.53	SYF	Synchrony Financial Fiscal Year End 28th of January 2025	Pair Corr
0.53	PYPL	PayPal Holdings	Pair Corr
0.52	CG	Carlyle Group	Pair Corr
0.52	MA	Mastercard	Pair Corr
0.52	AXP	American Express Sell-off Trend	Pair Corr
0.52	SOFI	SoFi Technologies Aggressive Push	Pair Corr
0.52	UPST	Upstart Holdings Buyout Trend	Pair Corr
0.52	AC	Associated Capital	Pair Corr
0.51	COF	Capital One Financial Fiscal Year End 23rd of January 2025	Pair Corr
0.51	DFS	Discover Financial Fiscal Year End 15th of January 2025	Pair Corr
0.51	KKR	KKR Co LP	Pair Corr
0.51	APAM	Artisan Partners Asset Fiscal Year End 4th of February 2025	Pair Corr
0.51	C	Citigroup Fiscal Year End 10th of January 2025	Pair Corr
0.5	BAM	Brookfield Asset Man	Pair Corr
0.5	BN	Brookfield Corp	Pair Corr
0.46	BX	Blackstone Group Fiscal Year End 23rd of January 2025	Pair Corr
0.45	L	Loews Corp	Pair Corr
0.45	AB	AllianceBernstein	Pair Corr
0.4	AX	Axos Financial	Pair Corr
0.39	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.38	V	Visa Class A	Pair Corr
0.38	DHIL	Diamond Hill Investment	Pair Corr
0.35	PPYA	Papaya Growth Opportunity	Pair Corr
0.57	TW	Tradeweb Markets	Pair Corr
0.54	SF	Stifel Financial Fiscal Year End 22nd of January 2025	Pair Corr
0.53	LC	LendingClub Corp	Pair Corr
0.51	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.51	LX	Lexinfintech Holdings Trending	Pair Corr
0.51	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.5	QD	Qudian Inc Trending	Pair Corr
0.48	WT	WisdomTree	Pair Corr
0.47	CM	Canadian Imperial Bank Earnings Call Tomorrow	Pair Corr
0.47	FG	FG Annuities Life	Pair Corr

Related Correlations Analysis

	V	DHIL	AC	DB	DX
V		0.81	0.51	-0.15	0.53	V
DHIL	0.81		0.48	0.01	0.57	DHIL
AC	0.51	0.48		0.51	0.24	AC
DB	-0.15	0.01	0.51		-0.09	DB
DX	0.53	0.57	0.24	-0.09		DX
	V	DHIL	AC	DB	DX

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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

DHIL	+ 0.81	V
DX	+ 0.57	DHIL
DX	+ 0.53	V
AC	+ 0.51	V
DB	+ 0.51	AC
AC	+ 0.48	DHIL

High negative correlations

DB	- 0.15	V
DX	- 0.09	DB

Risk-Adjusted Indicators

There is a big difference between Healthcare Stock performing well and Healthcare 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 Healthcare'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
V	0.82	0.11	0.07	0.25	1.07	(0.92)	2.23	(1.30)	7.73
DHIL	1.26	(0.06)	(0.01)	0.06	1.20	(1.59)	2.22	(2.05)	9.06
AC	1.22	0.07	0.03	0.19	1.78	(1.27)	3.02	(2.64)	12.11
DB	1.40	0.04	0.01	0.16	1.72	(1.48)	3.08	(2.93)	8.64
DX	0.76	(0.01)	(0.07)	0.07	1.03	(0.73)	1.38	(1.47)	4.37

Healthcare Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Healthcare stock to make a market-neutral strategy. Peer analysis of Healthcare could also be used in its relative valuation, which is a method of valuing Healthcare by comparing valuation metrics with similar companies.

Visa Class A Diamond Hill Investment Associated Capital Group Deutsche Bank AG Dynex Capital American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

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