Hims Hers Correlations

HIMS Stock

USD 30.34 0.34 1.11%

The current 90-days correlation between Hims Hers Health and ELF Beauty is 0.25 (i.e., Modest diversification). The correlation of Hims Hers 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.

Hims Hers Correlation With Market

Weak diversification

The correlation between Hims Hers Health and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hims Hers Health 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 Hims Hers Health. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Hims Stock

0.83	MD	Mednax Inc	Pair Corr
0.74	OM	Outset Medical	Pair Corr
0.78	DOCS	Doximity Sell-off Trend	Pair Corr
0.78	VREX	Varex Imaging Corp	Pair Corr
0.8	ECOR	Electrocore LLC	Pair Corr
0.86	ELMD	Electromed	Pair Corr

Moving against Hims Stock

0.62	VERO	Venus Concept	Pair Corr
0.61	CI	Cigna Corp	Pair Corr
0.78	ELAB	Elevai Labs, Common	Pair Corr
0.77	EKSO	Ekso Bionics Holdings	Pair Corr
0.75	AGL	agilon health	Pair Corr
0.71	EDAP	EDAP TMS SA	Pair Corr
0.68	FLGT	Fulgent Genetics	Pair Corr
0.54	AHG	Akso Health Group	Pair Corr
0.45	EHAB	Enhabit	Pair Corr
0.8	CNC	Centene Corp Sell-off Trend	Pair Corr
0.77	AMN	AMN Healthcare Services	Pair Corr
0.76	FORA	Forian Inc	Pair Corr
0.75	BAX	Baxter International	Pair Corr
0.72	BKD	Brookdale Senior Living	Pair Corr
0.66	ALC	Alcon AG	Pair Corr

Related Correlations Analysis

	ELF	NWL	GROV	EL	HNST	PG	COTY	IPAR	CL	KVUE
ELF		-0.03	0.0	-0.08	0.37	0.15	0.18	0.27	0.25	0.02	ELF
NWL	-0.03		0.14	-0.79	0.6	-0.28	-0.82	0.57	-0.85	0.6	NWL
GROV	0.0	0.14		-0.23	0.08	0.15	-0.19	-0.1	-0.07	0.39	GROV
EL	-0.08	-0.79	-0.23		-0.63	0.29	0.79	-0.34	0.75	-0.65	EL
HNST	0.37	0.6	0.08	-0.63		0.27	-0.52	0.63	-0.42	0.67	HNST
PG	0.15	-0.28	0.15	0.29	0.27		0.33	-0.05	0.59	0.26	PG
COTY	0.18	-0.82	-0.19	0.79	-0.52	0.33		-0.33	0.84	-0.49	COTY
IPAR	0.27	0.57	-0.1	-0.34	0.63	-0.05	-0.33		-0.49	0.4	IPAR
CL	0.25	-0.85	-0.07	0.75	-0.42	0.59	0.84	-0.49		-0.4	CL
KVUE	0.02	0.6	0.39	-0.65	0.67	0.26	-0.49	0.4	-0.4		KVUE
	ELF	NWL	GROV	EL	HNST	PG	COTY	IPAR	CL	KVUE

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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

CL	+ 0.84	COTY
COTY	+ 0.79	EL
CL	+ 0.75	EL
KVUE	+ 0.67	HNST
IPAR	+ 0.63	HNST
HNST	+ 0.6	NWL

High negative correlations

CL	- 0.85	NWL
COTY	- 0.82	NWL
EL	- 0.79	NWL
KVUE	- 0.65	EL
HNST	- 0.63	EL
COTY	- 0.52	HNST

Risk-Adjusted Indicators

There is a big difference between Hims Stock performing well and Hims Hers 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 Hims Hers' 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
ELF	2.64	(0.41)	0.00	(0.29)	0.00	0.00	3.98	(6.37)	17.98
NWL	2.29	0.39	0.15	0.82	1.99	(2.88)	5.48	(2.91)	27.25
GROV	2.34	(0.02)	(0.02)	0.08	2.91	(3.14)	5.34	(4.44)	21.62
EL	1.97	(0.42)	0.00	(0.39)	0.00	0.00	4.62	(3.42)	30.90
HNST	3.30	0.86	0.34	0.75	2.26	(4.63)	7.36	(3.95)	26.16
PG	0.73	0.09	(0.04)	(0.98)	0.80	(0.79)	1.74	(1.26)	4.66
COTY	1.65	(0.47)	0.00	(0.55)	0.00	0.00	2.87	(2.62)	15.90
IPAR	1.38	0.02	0.02	0.14	1.94	(1.28)	2.61	(3.01)	8.04
CL	0.82	(0.10)	0.00	0.59	0.00	0.00	1.30	(1.74)	6.33
KVUE	0.90	0.19	0.03	(0.49)	0.85	(1.06)	2.03	(1.48)	8.65

Hims Hers Corporate Management

Brian OShaughnessy	Chief Officer	Profile
Peter MD	Senior Board	Profile
Jonathan CFA	VP Relations	Profile
Mike Chi	Chief Officer	Profile
Soleil JD	Chief Secretary	Profile
MD FAAD	VP Board	Profile
Yemi Okupe	Chief Officer	Profile

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