Healthequity Correlations

2HE Stock

EUR 98.50 0.50 0.51%

The current 90-days correlation between Healthequity and ARDAGH METAL PACDL 0001 is -0.06 (i.e., Good diversification). The correlation of Healthequity 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.

Healthequity Correlation With Market

Weak diversification

The correlation between Healthequity and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Healthequity and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Healthequity could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Healthequity when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Healthequity - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Healthequity to buy it.

Moving together with Healthequity Stock

0.7	VEE	Veeva Systems Earnings Call This Week	Pair Corr
0.8	4LL	Teladoc	Pair Corr
0.71	1XZ	Ping An Healthcare	Pair Corr
0.66	1JU	FATFISH GROUP LTD	Pair Corr

Moving against Healthequity Stock

0.89	LYV	Lundin Energy AB	Pair Corr
0.86	9EH	Evolent Health	Pair Corr
0.86	D7GA	NEL ASA ADR30	Pair Corr
0.8	1KJ	10X GENOMICS DL	Pair Corr
0.47	OS3	Otello ASA	Pair Corr
0.37	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	7JZ	Z56	PN1	JAT	BO5	5PMA	3FNA
7JZ		-0.15	0.38	-0.43	0.57	0.48	0.79	7JZ
Z56	-0.15		-0.17	0.23	-0.22	-0.01	-0.32	Z56
PN1	0.38	-0.17		-0.38	0.88	-0.06	0.61	PN1
JAT	-0.43	0.23	-0.38		-0.4	-0.27	-0.5	JAT
BO5	0.57	-0.22	0.88	-0.4		0.13	0.77	BO5
5PMA	0.48	-0.01	-0.06	-0.27	0.13		0.41	5PMA
3FNA	0.79	-0.32	0.61	-0.5	0.77	0.41		3FNA
	7JZ	Z56	PN1	JAT	BO5	5PMA	3FNA

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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

BO5	+ 0.88	PN1
3FNA	+ 0.79	7JZ
3FNA	+ 0.77	BO5
3FNA	+ 0.61	PN1
BO5	+ 0.57	7JZ
5PMA	+ 0.48	7JZ

High negative correlations

3FNA	- 0.5	JAT
JAT	- 0.43	7JZ
BO5	- 0.4	JAT
JAT	- 0.38	PN1
3FNA	- 0.32	Z56
5PMA	- 0.27	JAT

Risk-Adjusted Indicators

There is a big difference between Healthequity Stock performing well and Healthequity 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 Healthequity'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
7JZ	2.32	0.24	0.04	0.88	3.07	(2.76)	6.10	(5.10)	17.71
Z56	1.30	(0.18)	0.00	(0.26)	0.00	0.00	3.85	(3.70)	20.19
PN1	1.80	0.23	0.06	1.79	1.83	(1.98)	4.09	(3.51)	11.98
JAT	1.11	0.00	(0.07)	0.10	1.41	(1.07)	2.64	(2.36)	5.87
BO5	1.42	0.41	0.17	(5.26)	1.06	(2.14)	3.13	(2.31)	14.17
5PMA	3.57	(0.15)	0.00	1.44	0.00	0.00	8.70	(6.25)	24.17
3FNA	3.14	0.49	0.10	1.18	3.77	(3.60)	7.61	(7.56)	27.81

Be your own money manager

Our tools can tell you how much better you can do entering a position in Healthequity without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Healthequity Corporate Management

Elected by the shareholders, the Healthequity's board of directors comprises two types of representatives: Healthequity inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Healthequity. The board's role is to monitor Healthequity's management team and ensure that shareholders' interests are well served. Healthequity's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Healthequity's outside directors are responsible for providing unbiased perspectives on the board's policies.

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