Premier Correlations

PINC Stock

USD 18.54 0.23 1.26%

The correlation of Premier 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.

Premier Correlation With Market

Modest diversification

The correlation between Premier and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Premier and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Premier. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade Premier Stock refer to our How to Trade Premier Stock guide.

Moving together with Premier Stock

0.64	VREX	Varex Imaging Corp	Pair Corr
0.75	VVOS	Vivos Therapeutics Earnings Call This Week	Pair Corr
0.66	EKSO	Ekso Bionics Holdings	Pair Corr
0.73	ELAB	Elevai Labs, Common Upward Rally	Pair Corr
0.84	EMBC	Embecta Corp	Pair Corr
0.73	ENOV	Enovis Corp	Pair Corr
0.67	ENSG	Ensign Group	Pair Corr
0.83	WORX	Scworx Corp	Pair Corr
0.73	FIGS	Figs Inc	Pair Corr
0.72	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.65	XAIR	Beyond Air	Pair Corr
0.74	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr

Moving against Premier Stock

0.8	FEMY	Femasys	Pair Corr
0.78	DOCS	Doximity	Pair Corr
0.74	ABT	Abbott Laboratories	Pair Corr
0.68	EDAP	EDAP TMS SA	Pair Corr
0.56	CI	Cigna Corp	Pair Corr
0.51	LH	Laboratory	Pair Corr
0.4	EHAB	Enhabit	Pair Corr
0.36	MD	Mednax Inc	Pair Corr
0.84	DGX	Quest Diagnostics	Pair Corr
0.73	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.56	BKD	Brookdale Senior Living	Pair Corr
0.55	CHE	Chemed Corp	Pair Corr
0.54	ALC	Alcon AG	Pair Corr
0.54	BAX	Baxter International	Pair Corr
0.52	AGL	agilon health	Pair Corr
0.5	BSX	Boston Scientific Corp	Pair Corr

Related Correlations Analysis

	MDRX	NRC	DH	HSTM	PRVA	NXGN	CERT	HCAT	EVH
MDRX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	MDRX
NRC	0.0		0.58	-0.07	-0.61	0.0	0.07	0.79	0.67	NRC
DH	0.0	0.58		0.45	-0.06	0.0	0.66	0.35	0.3	DH
HSTM	0.0	-0.07	0.45		0.64	0.0	0.73	-0.22	-0.38	HSTM
PRVA	0.0	-0.61	-0.06	0.64		0.0	0.56	-0.81	-0.81	PRVA
NXGN	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	NXGN
CERT	0.0	0.07	0.66	0.73	0.56	0.0		-0.31	-0.35	CERT
HCAT	0.0	0.79	0.35	-0.22	-0.81	0.0	-0.31		0.84	HCAT
EVH	0.0	0.67	0.3	-0.38	-0.81	0.0	-0.35	0.84		EVH
	MDRX	NRC	DH	HSTM	PRVA	NXGN	CERT	HCAT	EVH

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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

EVH	+ 0.84	HCAT
HCAT	+ 0.79	NRC
CERT	+ 0.73	HSTM
EVH	+ 0.67	NRC
CERT	+ 0.66	DH
PRVA	+ 0.64	HSTM

High negative correlations

EVH	- 0.81	PRVA
HCAT	- 0.81	PRVA
PRVA	- 0.61	NRC
EVH	- 0.38	HSTM
EVH	- 0.35	CERT
HCAT	- 0.31	CERT

Risk-Adjusted Indicators

There is a big difference between Premier Stock performing well and Premier 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 Premier'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
MDRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NRC	1.93	(0.25)	0.00	(0.31)	0.00	0.00	3.81	(3.35)	16.14
DH	3.11	(0.62)	0.00	(1.02)	0.00	0.00	8.37	(5.82)	46.28
HSTM	0.99	0.01	0.00	(0.08)	0.00	0.00	1.81	(2.54)	6.42
PRVA	1.54	0.22	0.10	0.12	2.03	(1.55)	3.10	(2.95)	12.06
NXGN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CERT	2.09	0.13	0.00	(0.02)	0.00	0.00	4.70	(3.92)	16.63
HCAT	2.93	(0.77)	0.00	(0.70)	0.00	0.00	5.44	(7.22)	16.58
EVH	2.59	(0.07)	0.00	(0.30)	0.00	0.00	4.55	(8.15)	16.17

Premier Corporate Management

Andrew Brailo	Chief Officer	Profile
Lisa Benna	Chief Officer	Profile
Kaycee Kalpin	Chief Officer	Profile
Laurie Graham	Chief Staff	Profile

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