Accendra Health Correlations

ACH Stock

USD 2.21 0.13 6.25%

The current 90-days correlation between Accendra Health and Sight Sciences is 0.12 (i.e., Average diversification). The correlation of Accendra 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.

Accendra Health Correlation With Market

Very good diversification

The correlation between Accendra Health and DJI is -0.4 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Accendra Health and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Accendra Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Accendra Health. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state and metro area employment, hours, and earnings.

For more detail on how to invest in Accendra Stock please use our How to Invest in Accendra Health guide.

Moving together with Accendra Stock

0.79	PCTTW	PureCycle Technologies	Pair Corr
0.78	MAPSW	WM Technology	Pair Corr
0.89	UCIX	Umbra Companies	Pair Corr

Moving against Accendra Stock

0.85	NGL	NGL Energy Partners Earnings Call This Week	Pair Corr
0.63	SPSO	Spectacular Solar	Pair Corr
0.62	WTBFB	WTB Financial	Pair Corr
0.61	FMBL	Farmers And Merchants	Pair Corr
0.57	HIRU	Hiru	Pair Corr
0.53	XNNHQ	Xenonics Holdings	Pair Corr
0.51	GJST	GEO JS Tech	Pair Corr
0.47	CDTX	Cidara Therapeutics	Pair Corr
0.46	CELG-RI	Bristol Myers Squibb	Pair Corr
0.45	ATCOL	Atlas Corp	Pair Corr
0.43	QUBHF	Qube Holdings Limited	Pair Corr
0.42	IMPTV	Imperial Petroleum 875	Pair Corr
0.4	PMBY	Postd Merchant Banque	Pair Corr
0.38	ECL	Ecolab Inc	Pair Corr
0.36	AMKBY	AP Moeller Maersk Earnings Call This Week	Pair Corr
0.35	EGMCF	Emgold Mining	Pair Corr
0.76	AXGN	Axogen Inc	Pair Corr
0.7	BCH	Banco De Chile Earnings Call This Week	Pair Corr
0.66	AQN	Algonquin Power Utilities	Pair Corr
0.64	DLX	Deluxe Earnings Call Tomorrow	Pair Corr
0.63	EXPE	Expedia Group Earnings Call This Week	Pair Corr
0.63	BWSN	Babcock Wilcox Enter	Pair Corr
0.61	LUV	Southwest Airlines Aggressive Push	Pair Corr
0.57	KNKZF	KWS SAAT SE	Pair Corr
0.54	ACR-PC	ACRES Commercial Realty	Pair Corr

Related Correlations Analysis

	SGHT	OM	CVRX	ACRS	BIOA	EDIT	ALLO	CGC	HITI	CABA
SGHT		-0.81	-0.19	0.12	0.04	-0.44	0.26	0.27	-0.37	-0.51	SGHT
OM	-0.81		0.55	-0.41	-0.42	0.75	-0.52	-0.09	0.72	0.5	OM
CVRX	-0.19	0.55		-0.6	-0.92	0.8	-0.74	-0.07	0.58	0.27	CVRX
ACRS	0.12	-0.41	-0.6		0.68	-0.46	0.67	0.1	-0.55	0.26	ACRS
BIOA	0.04	-0.42	-0.92	0.68		-0.72	0.84	0.06	-0.6	-0.09	BIOA
EDIT	-0.44	0.75	0.8	-0.46	-0.72		-0.63	0.06	0.74	0.42	EDIT
ALLO	0.26	-0.52	-0.74	0.67	0.84	-0.63		0.15	-0.66	-0.07	ALLO
CGC	0.27	-0.09	-0.07	0.1	0.06	0.06	0.15		0.29	-0.04	CGC
HITI	-0.37	0.72	0.58	-0.55	-0.6	0.74	-0.66	0.29		0.2	HITI
CABA	-0.51	0.5	0.27	0.26	-0.09	0.42	-0.07	-0.04	0.2		CABA
	SGHT	OM	CVRX	ACRS	BIOA	EDIT	ALLO	CGC	HITI	CABA

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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

ALLO	+ 0.84	BIOA
EDIT	+ 0.8	CVRX
EDIT	+ 0.75	OM
HITI	+ 0.74	EDIT
HITI	+ 0.72	OM
BIOA	+ 0.68	ACRS

High negative correlations

BIOA	- 0.92	CVRX
OM	- 0.81	SGHT
ALLO	- 0.74	CVRX
EDIT	- 0.72	BIOA
HITI	- 0.66	ALLO
ALLO	- 0.63	EDIT

Risk-Adjusted Indicators

There is a big difference between Accendra Stock performing well and Accendra 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 Accendra 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
SGHT	3.20	0.28	0.09	0.13	3.48	(3.68)	9.34	(6.23)	25.08
OM	4.95	(1.17)	0.00	40.83	0.00	0.00	9.51	(10.93)	52.35
CVRX	3.31	(0.57)	0.00	(0.41)	0.00	0.00	8.05	(6.66)	28.35
ACRS	4.57	1.09	0.18	(0.28)	4.58	(5.67)	8.62	(7.99)	84.20
BIOA	4.40	1.55	0.44	5.08	2.63	(5.57)	13.88	(6.06)	33.50
EDIT	3.10	(0.72)	0.00	(0.37)	0.00	0.00	6.56	(8.18)	21.57
ALLO	4.05	0.68	0.15	0.46	3.83	(5.52)	12.38	(6.16)	26.97
CGC	4.55	(0.03)	0.00	(0.05)	0.00	0.00	8.55	(9.16)	66.41
HITI	2.18	(0.56)	0.00	(0.63)	0.00	0.00	4.78	(4.50)	17.53
CABA	4.83	0.12	0.02	0.14	4.96	(6.80)	8.44	(8.76)	62.77

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