Health Catalyst Correlations

HCAT Stock

USD 4.41 0.08 1.85%

The current 90-days correlation between Health Catalyst and National Research Corp is -0.03 (i.e., Good diversification). The correlation of Health Catalyst 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.

Health Catalyst Correlation With Market

Very good diversification

The correlation between Health Catalyst and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Health Catalyst 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, which includes a position in Health Catalyst. 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.

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

Moving together with Health Stock

0.65	GKOS	Glaukos Corp	Pair Corr
0.69	LIVN	LivaNova PLC	Pair Corr
0.65	MDAI	Spectral AI	Pair Corr
0.92	MODD	Modular Medical	Pair Corr
0.77	ADUS	Addus HomeCare	Pair Corr
0.88	APYX	Apyx Medical	Pair Corr
0.88	SGHT	Sight Sciences	Pair Corr
0.91	SRDX	SurModics	Pair Corr
0.74	CNMD	CONMED	Pair Corr
0.61	DSGN	Design Therapeutics	Pair Corr
0.92	ERAS	Erasca Inc	Pair Corr

Moving against Health Stock

0.84	FNA	Paragon 28	Pair Corr
0.77	LUCD	Lucid Diagnostics	Pair Corr
0.58	INMD	InMode	Pair Corr
0.56	LUNG	Pulmonx Corp	Pair Corr
0.53	KIDS	Orthopediatrics Corp	Pair Corr
0.36	GDRX	Goodrx Holdings	Pair Corr
0.94	OPCH	Option Care Health	Pair Corr
0.88	NVRO	Nevro Corp	Pair Corr
0.72	NYXH	Nyxoah	Pair Corr
0.5	TMCI	Treace Medical Concepts	Pair Corr
0.61	CCLDO	CareCloud	Pair Corr

Related Correlations Analysis

	NRC	CERT	NXGN	HSTM	FORA	HQY	AGTI	DH	EVH
NRC		0.17	0.0	-0.06	0.14	0.05	0.0	0.61	0.65	NRC
CERT	0.17		0.0	0.76	0.67	0.87	0.0	0.71	-0.31	CERT
NXGN	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	NXGN
HSTM	-0.06	0.76	0.0		0.66	0.74	0.0	0.48	-0.39	HSTM
FORA	0.14	0.67	0.0	0.66		0.67	0.0	0.57	-0.15	FORA
HQY	0.05	0.87	0.0	0.74	0.67		0.0	0.63	-0.28	HQY
AGTI	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AGTI
DH	0.61	0.71	0.0	0.48	0.57	0.63	0.0		0.29	DH
EVH	0.65	-0.31	0.0	-0.39	-0.15	-0.28	0.0	0.29		EVH
	NRC	CERT	NXGN	HSTM	FORA	HQY	AGTI	DH	EVH

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

HQY	+ 0.87	CERT
HSTM	+ 0.76	CERT
HQY	+ 0.74	HSTM
DH	+ 0.71	CERT
FORA	+ 0.67	CERT
HQY	+ 0.67	FORA

High negative correlations

EVH	- 0.39	HSTM
EVH	- 0.31	CERT
EVH	- 0.28	HQY
EVH	- 0.15	FORA
HSTM	- 0.06	NRC
EVH	- 0.0	AGTI

Risk-Adjusted Indicators

There is a big difference between Health Stock performing well and Health Catalyst 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 Health Catalyst'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
NRC	2.03	(0.20)	0.00	(0.25)	0.00	0.00	3.81	(3.71)	16.14
CERT	2.06	0.00	0.00	(0.07)	0.00	0.00	4.70	(3.92)	16.63
NXGN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HSTM	0.97	0.01	0.00	(0.05)	0.00	0.00	1.68	(2.54)	6.42
FORA	3.17	0.19	0.05	0.19	4.28	(3.75)	6.06	(6.16)	48.14
HQY	1.68	(0.09)	0.00	(0.19)	0.00	0.00	3.23	(2.85)	20.73
AGTI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DH	3.10	(0.50)	0.00	(0.85)	0.00	0.00	8.37	(5.82)	46.28
EVH	2.45	(0.13)	0.00	(0.45)	0.00	0.00	4.41	(8.15)	16.17

Health Catalyst Corporate Management

Maxine Liu	Senior Interopability	Profile
Holly Rimmasch	Senior Officer	Profile
Kevin Freeman	Chief Officer	Profile
Paul Horstmeier	Chief Officer	Profile
Tarah Bryan	Chief Officer	Profile
Ryan Barry	Chief Services	Profile
Kyle Salyers	Chief Development	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC