Signify Health Correlations

Summary

SGFYDelisted Stock

USD 30.49 0.00 0.00%

The current 90-days correlation between Signify Health and Agiliti is -0.07 (i.e., Good diversification). The correlation of Signify Health 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.

Signify Health Correlation With Market

Significant diversification

The correlation between Signify Health and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Signify Health and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Signify Stock

0.61	FTI	TechnipFMC PLC	Pair Corr
0.64	FTNT	Fortinet	Pair Corr
0.71	OPFI	OppFi Inc	Pair Corr
0.65	BAC	Bank of America Aggressive Push	Pair Corr

Moving against Signify Stock

0.49	GEHC	GE HealthCare Techno	Pair Corr
0.42	EPGG	Empire Global Gaming	Pair Corr
0.35	GBHPF	Global Hemp Group	Pair Corr
0.31	IMHC	Imperalis Holding Corp	Pair Corr
0.51	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.41	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Related Correlations Analysis

	EVH	AGTI	CMAX	CERT	RCM	MDRX	NRC	CPSI	DH	HSTM
EVH		0.22	0.74	0.55	-0.87	-0.61	0.57	0.23	0.13	-0.87	EVH
AGTI	0.22		0.13	0.42	-0.19	-0.06	-0.08	0.42	0.28	-0.29	AGTI
CMAX	0.74	0.13		0.45	-0.69	-0.52	0.44	0.31	0.09	-0.58	CMAX
CERT	0.55	0.42	0.45		-0.58	0.01	0.55	0.46	0.58	-0.32	CERT
RCM	-0.87	-0.19	-0.69	-0.58		0.31	-0.72	-0.42	-0.26	0.71	RCM
MDRX	-0.61	-0.06	-0.52	0.01	0.31		0.08	0.31	0.28	0.76	MDRX
NRC	0.57	-0.08	0.44	0.55	-0.72	0.08		0.26	0.47	-0.26	NRC
CPSI	0.23	0.42	0.31	0.46	-0.42	0.31	0.26		0.24	-0.12	CPSI
DH	0.13	0.28	0.09	0.58	-0.26	0.28	0.47	0.24		0.14	DH
HSTM	-0.87	-0.29	-0.58	-0.32	0.71	0.76	-0.26	-0.12	0.14		HSTM
	EVH	AGTI	CMAX	CERT	RCM	MDRX	NRC	CPSI	DH	HSTM

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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

HSTM	+ 0.76	MDRX
CMAX	+ 0.74	EVH
HSTM	+ 0.71	RCM
DH	+ 0.58	CERT
NRC	+ 0.57	EVH
CERT	+ 0.55	EVH

High negative correlations

HSTM	- 0.87	EVH
RCM	- 0.87	EVH
NRC	- 0.72	RCM
RCM	- 0.69	CMAX
MDRX	- 0.61	EVH
RCM	- 0.58	CERT

Risk-Adjusted Indicators

There is a big difference between Signify Stock performing well and Signify Health 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 Signify Health'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
EVH	3.23	(1.19)	0.00	(0.83)	0.00	0.00	5.49	(5.92)	51.11
AGTI	2.06	0.06	(0.04)	(0.04)	2.87	(1.81)	4.03	(4.45)	10.75
CMAX	6.94	(2.25)	0.00	(2.45)	0.00	0.00	12.64	(18.35)	80.24
CERT	1.93	(0.38)	0.00	(0.07)	0.00	0.00	5.82	(3.98)	15.96
RCM	0.10	0.02	(0.65)	2.14	0.00	(0.15)	0.29	(0.21)	0.64
MDRX	1.27	0.04	(0.01)	0.21	2.08	(1.14)	2.58	(3.07)	8.73
NRC	1.97	(0.37)	0.00	(0.08)	0.00	0.00	3.79	(4.72)	13.17
CPSI	1.50	(0.22)	0.00	(0.35)	0.00	0.00	2.85	(3.01)	14.25
DH	2.06	(0.13)	(0.01)	0.06	2.44	(2.24)	4.37	(4.00)	13.20
HSTM	1.21	0.10	0.06	0.24	1.31	(1.29)	2.33	(2.00)	10.49

Signify Health 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 Signify Health stock to make a market-neutral strategy. Peer analysis of Signify Health could also be used in its relative valuation, which is a method of valuing Signify Health by comparing valuation metrics with similar companies.

Evolent Health Agiliti CareMax Certara R1 RCM Inc Veradigm National Research Corp CPSI Old Definitive Healthcare Corp HealthStream Phreesia Health Catalyst Privia Health Group Nextgen Healthcare American Airlines Group

Risk & Return

Correlation

Signify Health Corporate Management

Stephen Wiggins	Director	Profile
Brandon Hull	Independent Director	Profile
Jason Plagman	VP Relations	Profile
Erin Kelly	Chief Compliance Officer	Profile
Matthew Holt	Independent Chairman of the Board	Profile

Still Interested in Signify Health?

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