Nextgen Healthcare Correlations
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nextgen Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nextgen Healthcare moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
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Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between Nextgen Stock performing well and Nextgen 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 Nextgen 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NRC | 1.93 | (0.31) | 0.00 | (0.27) | 0.00 | 3.81 | 16.14 | |||
| DH | 2.45 | 0.35 | 0.13 | 0.31 | 2.37 | 6.80 | 17.13 | |||
| HSTM | 0.90 | 0.05 | 0.04 | (0.64) | 1.31 | 1.68 | 6.33 | |||
| CPSI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FORA | 3.15 | 0.24 | 0.05 | 0.85 | 4.36 | 5.98 | 48.14 | |||
| AGTI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CERT | 2.27 | 0.38 | 0.16 | 0.19 | 1.97 | 6.08 | 16.07 | |||
| HCAT | 2.70 | (0.59) | 0.00 | 0.92 | 0.00 | 4.80 | 18.11 | |||
| HQY | 1.22 | 0.05 | 0.03 | 0.08 | 1.76 | 2.27 | 7.20 |
Nextgen 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 Nextgen Healthcare stock to make a market-neutral strategy. Peer analysis of Nextgen Healthcare could also be used in its relative valuation, which is a method of valuing Nextgen Healthcare by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Nextgen Healthcare Corporate Management
| Srinivas Velamoor | Chief VP | Profile | |
| David Ahmadzai | Corp VP | Profile | |
| David Slazyk | Chief Officer | Profile | |
| Colleen Edwards | VP Marketing | Profile | |
| Mitchell Waters | Ex Growth | Profile | |
| David Sides | Pres CEO | Profile |
Still Interested in Nextgen Healthcare?
Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.