Viemed Healthcare Correlations

VMD Stock

USD 7.24 0.12 1.63%

The current 90-days correlation between Viemed Healthcare and Profound Medical Corp is 0.17 (i.e., Average diversification). The correlation of Viemed 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.

Viemed Healthcare Correlation With Market

Modest diversification

The correlation between Viemed 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 Viemed Healthcare 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 Viemed 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 population.

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

Moving together with Viemed Stock

0.65	LNDNF	Lundin Energy AB	Pair Corr
0.8	CAT	Caterpillar	Pair Corr
0.73	AXP	American Express Sell-off Trend	Pair Corr
0.66	HPQ	HP Inc	Pair Corr
0.64	DIS	Walt Disney	Pair Corr
0.65	AA	Alcoa Corp	Pair Corr

Moving against Viemed Stock

0.77	CMRX	Chimerix	Pair Corr
0.72	JNJ	Johnson Johnson	Pair Corr
0.69	T	ATT Inc Earnings Call This Week	Pair Corr
0.69	VZ	Verizon Communications	Pair Corr
0.66	MCD	McDonalds	Pair Corr
0.59	BKLRF	Berkeley Energy	Pair Corr
0.52	NVRO	Nevro Corp	Pair Corr
0.46	IBM	International Business	Pair Corr
0.44	INTC	Intel	Pair Corr
0.43	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.39	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.38	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	PROF	SIBN	IRIX	SRDX	TBIO	RCEL	CLPT	SGHT	TMCI	FNA
PROF		-0.36	0.16	0.38	0.0	0.4	-0.37	0.39	-0.59	-0.57	PROF
SIBN	-0.36		-0.11	-0.37	0.0	-0.64	0.43	-0.75	0.88	0.69	SIBN
IRIX	0.16	-0.11		0.85	0.0	0.48	0.6	0.55	-0.03	-0.61	IRIX
SRDX	0.38	-0.37	0.85		0.0	0.69	0.44	0.78	-0.32	-0.81	SRDX
TBIO	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	TBIO
RCEL	0.4	-0.64	0.48	0.69	0.0		0.08	0.81	-0.57	-0.65	RCEL
CLPT	-0.37	0.43	0.6	0.44	0.0	0.08		0.05	0.63	0.07	CLPT
SGHT	0.39	-0.75	0.55	0.78	0.0	0.81	0.05		-0.67	-0.86	SGHT
TMCI	-0.59	0.88	-0.03	-0.32	0.0	-0.57	0.63	-0.67		0.74	TMCI
FNA	-0.57	0.69	-0.61	-0.81	0.0	-0.65	0.07	-0.86	0.74		FNA
	PROF	SIBN	IRIX	SRDX	TBIO	RCEL	CLPT	SGHT	TMCI	FNA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

TMCI	+ 0.88	SIBN
SRDX	+ 0.85	IRIX
SGHT	+ 0.81	RCEL
SGHT	+ 0.78	SRDX
FNA	+ 0.74	TMCI
FNA	+ 0.69	SIBN

High negative correlations

FNA	- 0.86	SGHT
FNA	- 0.81	SRDX
SGHT	- 0.75	SIBN
TMCI	- 0.67	SGHT
FNA	- 0.65	RCEL
RCEL	- 0.64	SIBN

Risk-Adjusted Indicators

There is a big difference between Viemed Stock performing well and Viemed 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 Viemed 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
PROF	2.09	(0.12)	0.00	0.36	0.00	0.00	5.08	(4.57)	12.42
SIBN	2.49	0.28	0.11	0.13	2.28	(3.35)	5.29	(3.92)	22.82
IRIX	3.75	(0.56)	0.00	(0.49)	0.00	0.00	8.93	(7.30)	37.29
SRDX	1.50	(0.36)	0.00	(0.67)	0.00	0.00	2.15	(5.79)	10.84
TBIO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RCEL	3.52	(0.21)	0.00	(0.38)	0.00	0.00	5.61	(7.46)	46.29
CLPT	3.50	0.05	0.00	(0.04)	0.00	0.00	6.25	(6.68)	39.95
SGHT	3.31	(0.16)	0.00	(0.23)	0.00	0.00	7.19	(6.05)	24.66
TMCI	2.71	0.30	0.09	0.15	2.58	(3.19)	8.14	(4.19)	20.40
FNA	1.17	0.36	0.25	1.16	1.04	(1.57)	3.78	(3.09)	8.63

Viemed Healthcare Corporate Management

William Zehnder	COO Director	Profile
Robert LLB	Co Sec	Profile
Jeremy Trahan	Chief Transactions	Profile
Patrick Eagan	General Secretary	Profile
William MD	Chief Director	Profile
Casey Hoyt	CEO Director	Profile
Michael Freeman	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC