CLOVER HEALTH Correlations

7QD Stock

3.19 0.05 1.59%

The current 90-days correlation between CLOVER HEALTH INV and Superior Plus Corp is 0.06 (i.e., Significant diversification). The correlation of CLOVER 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.

CLOVER HEALTH Correlation With Market

Average diversification

The correlation between CLOVER HEALTH INV and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CLOVER HEALTH INV and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CLOVER HEALTH could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CLOVER HEALTH 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 CLOVER HEALTH - 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 CLOVER HEALTH INV to buy it.

Moving together with CLOVER Stock

0.62

1Q6

Prosafe SE

Pair Corr

Moving against CLOVER Stock

0.76	RHM	Rheinmetall AG	Pair Corr
0.73	OTP	OTP Bank Nyrt	Pair Corr
0.7	BMT	British American Tobacco	Pair Corr
0.67	3RK	Ryohin Keikaku Earnings Call This Week	Pair Corr
0.64	DP4A	AP Mller	Pair Corr
0.62	BSI	BE Semiconductor Ind	Pair Corr
0.61	DP4B	AP Møller	Pair Corr
0.61	ZOF	SBI Holdings	Pair Corr
0.52	RC2	RCM TECHNOLOGIES	Pair Corr
0.46	AIRA	Airbus SE	Pair Corr
0.43	E908	Lyxor 1	Pair Corr
0.42	DTE	Deutsche Telekom	Pair Corr
0.32	CWK0	CRAWFORD A NV	Pair Corr
0.31	DBPE	Xtrackers LevDAX	Pair Corr

Related Correlations Analysis

	8SP	6NM	2DG	TLX	TM9	INVN	IUI1	6HW	NOH1
8SP		0.6	0.55	-0.25	0.54	-0.42	-0.71	0.26	0.16	8SP
6NM	0.6		0.05	0.11	0.22	0.03	-0.21	-0.16	0.31	6NM
2DG	0.55	0.05		-0.64	0.47	-0.74	-0.86	0.28	-0.17	2DG
TLX	-0.25	0.11	-0.64		-0.65	0.85	0.69	0.1	-0.25	TLX
TM9	0.54	0.22	0.47	-0.65		-0.63	-0.67	-0.04	0.57	TM9
INVN	-0.42	0.03	-0.74	0.85	-0.63		0.82	0.02	-0.14	INVN
IUI1	-0.71	-0.21	-0.86	0.69	-0.67	0.82		-0.23	-0.11	IUI1
6HW	0.26	-0.16	0.28	0.1	-0.04	0.02	-0.23		-0.3	6HW
NOH1	0.16	0.31	-0.17	-0.25	0.57	-0.14	-0.11	-0.3		NOH1
	8SP	6NM	2DG	TLX	TM9	INVN	IUI1	6HW	NOH1

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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

INVN	+ 0.85	TLX
IUI1	+ 0.82	INVN
IUI1	+ 0.69	TLX
6NM	+ 0.6	8SP
NOH1	+ 0.57	TM9
2DG	+ 0.55	8SP

High negative correlations

IUI1	- 0.86	2DG
INVN	- 0.74	2DG
IUI1	- 0.71	8SP
IUI1	- 0.67	TM9
TM9	- 0.65	TLX
TLX	- 0.64	2DG

Risk-Adjusted Indicators

There is a big difference between CLOVER Stock performing well and CLOVER 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 CLOVER 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
8SP	2.08	(0.20)	0.00	0.92	0.00	0.00	3.05	(4.56)	20.22
6NM	1.19	(0.04)	0.00	0.13	0.00	0.00	2.89	(3.33)	9.64
2DG	5.90	(0.23)	0.00	1.89	0.00	0.00	13.64	(10.53)	52.42
TLX	1.08	0.15	0.11	(1.24)	1.15	(1.13)	2.67	(1.85)	7.58
TM9	2.82	(0.15)	0.00	(0.53)	0.00	0.00	7.26	(6.43)	30.27
INVN	2.21	0.25	0.09	(0.28)	2.46	(2.54)	5.45	(4.00)	14.01
IUI1	1.20	0.26	0.19	(0.46)	1.05	(1.35)	3.28	(1.96)	10.73
6HW	0.43	(0.06)	0.00	0.30	0.00	0.00	1.23	(1.41)	4.04
NOH1	1.68	(0.10)	0.00	81.15	0.00	0.00	3.86	(3.25)	13.52

Be your own money manager

Our tools can tell you how much better you can do entering a position in CLOVER HEALTH 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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