Molina Healthcare Correlations

MOH Stock

USD 309.93 5.33 1.69%

The current 90-days correlation between Molina Healthcare and Humana Inc is 0.45 (i.e., Very weak diversification). The correlation of Molina 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.

Molina Healthcare Correlation With Market

Modest diversification

The correlation between Molina Healthcare and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Molina Healthcare and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Molina Healthcare. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more detail on how to invest in Molina Stock please use our How to Invest in Molina Healthcare guide.

Moving against Molina Stock

0.54	EW	Edwards Lifesciences Corp	Pair Corr
0.5	GKOS	Glaukos Corp	Pair Corr
0.48	TFX	Teleflex Incorporated	Pair Corr
0.48	LIVN	LivaNova PLC	Pair Corr
0.45	ITGR	Integer Holdings Corp	Pair Corr
0.41	DXCM	DexCom Inc	Pair Corr
0.31	ELMD	Electromed	Pair Corr
0.64	CCLD	CareCloud	Pair Corr
0.55	MDAI	Spectral AI	Pair Corr
0.54	ACET	Adicet Bio	Pair Corr
0.5	APYX	Apyx Medical	Pair Corr
0.49	SRDX	SurModics	Pair Corr
0.47	PODD	Insulet	Pair Corr
0.46	ACHC	Acadia Healthcare	Pair Corr
0.41	RXST	Rxsight	Pair Corr
0.37	ADUS	Addus HomeCare	Pair Corr

Related Correlations Analysis

	CI	HUM	ELV	ALHC	UNH	CNC	OSCR	BHG	CVS
CI		0.02	0.86	0.79	-0.34	-0.27	0.12	0.0	0.89	CI
HUM	0.02		0.31	0.46	0.69	0.72	0.66	0.0	0.04	HUM
ELV	0.86	0.31		0.88	0.04	0.0	0.1	0.0	0.76	ELV
ALHC	0.79	0.46	0.88		0.1	-0.01	0.33	0.0	0.8	ALHC
UNH	-0.34	0.69	0.04	0.1		0.59	0.22	0.0	-0.31	UNH
CNC	-0.27	0.72	0.0	-0.01	0.59		0.5	0.0	-0.43	CNC
OSCR	0.12	0.66	0.1	0.33	0.22	0.5		0.0	0.18	OSCR
BHG	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	BHG
CVS	0.89	0.04	0.76	0.8	-0.31	-0.43	0.18	0.0		CVS
	CI	HUM	ELV	ALHC	UNH	CNC	OSCR	BHG	CVS

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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

CVS	+ 0.89	CI
ALHC	+ 0.88	ELV
ELV	+ 0.86	CI
CVS	+ 0.8	ALHC
ALHC	+ 0.79	CI
CVS	+ 0.76	ELV

High negative correlations

CVS	- 0.43	CNC
UNH	- 0.34	CI
CVS	- 0.31	UNH
CNC	- 0.27	CI
CNC	- 0.01	ALHC
CVS	- 0.0	BHG

Risk-Adjusted Indicators

There is a big difference between Molina Stock performing well and Molina 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 Molina 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
CI	1.40	0.23	0.13	0.38	1.77	(1.44)	3.97	(2.73)	13.04
HUM	1.87	0.07	0.00	(0.01)	0.00	0.00	3.89	(3.77)	12.48
ELV	1.23	0.21	0.17	0.40	1.25	(1.29)	2.72	(2.13)	8.26
ALHC	2.25	0.78	0.28	0.61	2.27	(2.55)	4.04	(3.96)	21.92
UNH	1.44	0.07	0.03	0.01	2.28	(1.42)	2.47	(4.22)	11.09
CNC	1.35	0.04	0.03	(0.01)	1.99	(1.44)	2.91	(2.58)	11.30
OSCR	3.29	0.13	0.02	0.01	4.43	(3.11)	5.90	(7.26)	26.99
BHG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CVS	1.75	0.57	0.29	0.55	1.58	(2.13)	4.36	(2.60)	17.42

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