Zhongchao Correlations

ZCMD Stock

USD 1.26 0.06 5.00%

The correlation of Zhongchao 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.

Zhongchao Correlation With Market

Good diversification

The correlation between Zhongchao and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhongchao and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zhongchao. 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 Zhongchao Stock refer to our How to Trade Zhongchao Stock guide.

Moving together with Zhongchao Stock

0.75	OM	Outset Medical	Pair Corr
0.76	VREX	Varex Imaging Corp	Pair Corr
0.68	ELAB	Elevai Labs, Common Upward Rally	Pair Corr
0.72	EMBC	Embecta Corp	Pair Corr
0.84	EUDA	EUDA Health Holdings	Pair Corr
0.79	FLGT	Fulgent Genetics	Pair Corr
0.83	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.71	XAIR	Beyond Air	Pair Corr
0.85	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr

Moving against Zhongchao Stock

0.76	LH	Laboratory	Pair Corr
0.63	CI	Cigna Corp	Pair Corr
0.62	GH	Guardant Health	Pair Corr
0.58	DOCS	Doximity	Pair Corr
0.56	FEMY	Femasys	Pair Corr
0.48	EDAP	EDAP TMS SA	Pair Corr
0.34	EHAB	Enhabit	Pair Corr
0.32	MD	Mednax Inc	Pair Corr
0.83	CAH	Cardinal Health	Pair Corr
0.8	AGL	agilon health	Pair Corr
0.79	ABT	Abbott Laboratories	Pair Corr
0.78	COR	Cencora	Pair Corr
0.74	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.71	ALC	Alcon AG	Pair Corr
0.71	BSX	Boston Scientific Corp	Pair Corr
0.69	BAX	Baxter International	Pair Corr
0.68	DGX	Quest Diagnostics	Pair Corr
0.66	CHE	Chemed Corp	Pair Corr

Related Correlations Analysis

	VNTH	SNCE	AKLI	HCTI	CBDS	AUGX	TRHC	FOXO	ETAO
VNTH		0.0	0.0	0.28	-0.05	0.0	0.0	-0.1	0.0	VNTH
SNCE	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	SNCE
AKLI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AKLI
HCTI	0.28	0.0	0.0		0.59	0.0	0.0	0.62	0.0	HCTI
CBDS	-0.05	0.0	0.0	0.59		0.0	0.0	0.7	0.0	CBDS
AUGX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	AUGX
TRHC	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	TRHC
FOXO	-0.1	0.0	0.0	0.62	0.7	0.0	0.0		0.0	FOXO
ETAO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ETAO
	VNTH	SNCE	AKLI	HCTI	CBDS	AUGX	TRHC	FOXO	ETAO

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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

FOXO	+ 0.7	CBDS
FOXO	+ 0.62	HCTI
CBDS	+ 0.59	HCTI
HCTI	+ 0.28	VNTH
SNCE	+ 0.0	VNTH
AKLI	+ 0.0	VNTH

High negative correlations

FOXO	- 0.1	VNTH
CBDS	- 0.05	VNTH
ETAO	- 0.0	FOXO
ETAO	- 0.0	TRHC
FOXO	- 0.0	TRHC
ETAO	- 0.0	AUGX

Risk-Adjusted Indicators

There is a big difference between Zhongchao Stock performing well and Zhongchao 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 Zhongchao'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
VNTH	11.59	3.38	0.00	(2.17)	0.00	0.00	50.00	(33.33)	150.00
SNCE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AKLI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HCTI	9.50	(0.23)	0.00	(0.24)	0.00	0.00	34.21	(17.24)	86.11
CBDS	10.39	0.94	0.06	0.35	12.88	(11.76)	22.74	(23.08)	88.45
AUGX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TRHC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FOXO	6.81	(1.14)	0.00	(2.40)	0.00	0.00	14.29	(12.50)	88.13
ETAO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Zhongchao Corporate Management

Shuang Wu	Chief Officer	Profile
Baoqian Tian	Chief Officer	Profile
Xuejun Chen	Chief Officer	Profile
Weiguang Yang	Chairman, Founder	Profile

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