Teladoc Correlations

TDOC Stock

USD 8.39 0.48 5.41%

The current 90-days correlation between Teladoc and Veeva Systems Class is 0.27 (i.e., Modest diversification). The correlation of Teladoc 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.

Teladoc Correlation With Market

Modest diversification

The correlation between Teladoc 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 Teladoc and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Teladoc. 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 information on how to trade Teladoc Stock refer to our How to Trade Teladoc Stock guide.

Moving together with Teladoc Stock

0.75	DH	Definitive Healthcare Buyout Trend	Pair Corr
0.67	DOCS	Doximity	Pair Corr
0.61	DXCM	DexCom Inc	Pair Corr
0.62	EDAP	EDAP TMS SA	Pair Corr

Moving against Teladoc Stock

0.44	ESTA	Establishment Labs	Pair Corr
0.36	CNC	Centene Corp	Pair Corr

Related Correlations Analysis

	VEEV	TXG	GEHC	PGNY	DOCS	SDGR	GDRX	TALK	ACCD
VEEV		-0.22	0.37	0.27	0.35	0.63	0.51	0.37	0.3	VEEV
TXG	-0.22		-0.3	-0.4	-0.71	-0.14	-0.23	0.15	-0.45	TXG
GEHC	0.37	-0.3		0.87	0.64	0.67	0.64	0.31	0.79	GEHC
PGNY	0.27	-0.4	0.87		0.58	0.65	0.51	0.13	0.9	PGNY
DOCS	0.35	-0.71	0.64	0.58		0.5	0.59	0.41	0.5	DOCS
SDGR	0.63	-0.14	0.67	0.65	0.5		0.72	0.58	0.49	SDGR
GDRX	0.51	-0.23	0.64	0.51	0.59	0.72		0.52	0.31	GDRX
TALK	0.37	0.15	0.31	0.13	0.41	0.58	0.52		-0.01	TALK
ACCD	0.3	-0.45	0.79	0.9	0.5	0.49	0.31	-0.01		ACCD
	VEEV	TXG	GEHC	PGNY	DOCS	SDGR	GDRX	TALK	ACCD

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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

ACCD	+ 0.9	PGNY
PGNY	+ 0.87	GEHC
ACCD	+ 0.79	GEHC
GDRX	+ 0.72	SDGR
SDGR	+ 0.67	GEHC
SDGR	+ 0.65	PGNY

High negative correlations

DOCS	- 0.71	TXG
ACCD	- 0.45	TXG
PGNY	- 0.4	TXG
GEHC	- 0.3	TXG
GDRX	- 0.23	TXG
TXG	- 0.22	VEEV

Risk-Adjusted Indicators

There is a big difference between Teladoc Stock performing well and Teladoc 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 Teladoc'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
VEEV	1.45	0.01	0.00	(0.07)	0.00	0.00	2.87	(2.90)	10.69
TXG	3.11	(0.40)	0.00	(0.37)	0.00	0.00	5.49	(8.83)	25.30
GEHC	1.17	0.09	0.08	0.02	1.32	(1.27)	2.73	(2.29)	11.62
PGNY	2.01	0.53	0.27	0.55	1.65	(2.31)	4.11	(3.11)	19.60
DOCS	2.69	0.43	0.12	0.35	3.01	(2.85)	4.80	(5.44)	45.86
SDGR	3.07	0.38	0.08	0.11	3.41	(3.38)	6.02	(5.12)	21.84
GDRX	2.26	(0.03)	0.00	(0.12)	0.00	0.00	4.82	(4.08)	13.56
TALK	2.89	(0.07)	0.00	(0.13)	0.00	0.00	6.49	(5.62)	22.05
ACCD	3.34	1.59	0.79	1.49	0.00	(4.62)	1.74	(2.82)	105.21

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