Alignment Healthcare Correlations

ALHC Stock

USD 20.22 0.47 2.38%

The current 90-days correlation between Alignment Healthcare LLC and GRAIL LLC is 0.12 (i.e., Average diversification). The correlation of Alignment 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.

Alignment Healthcare Correlation With Market

Weak diversification

The correlation between Alignment Healthcare LLC and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alignment Healthcare LLC and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alignment Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alignment Healthcare LLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Alignment Stock

0.79	NPTH	NeuPath Health	Pair Corr
0.73	CNC	Centene Corp Aggressive Push	Pair Corr
0.62	HSIC	Henry Schein	Pair Corr
0.61	CRRX	CareRx Corp	Pair Corr
0.84	RHC	Ramsay Health Care	Pair Corr
0.68	DNTL	dentalcorp Holdings	Pair Corr
0.83	DR	Medical Facilities	Pair Corr
0.75	SHL	Sonic Healthcare	Pair Corr
0.66	SIA	Sienna Senior Living	Pair Corr
0.62	OCA	Oceania Healthcare	Pair Corr

Moving against Alignment Stock

0.82	300015	Aier Eye Hospital	Pair Corr
0.72	IVP	Inspire Veterinary	Pair Corr
0.49	301293	Sanbo Hospital Management	Pair Corr
0.49	DVA	DaVita HealthCare	Pair Corr
0.39	FMS	Fresenius Medical Care	Pair Corr
0.36	DGX	Quest Diagnostics	Pair Corr
0.35	LH	Laboratory	Pair Corr
0.35	PHA	Premier Health	Pair Corr
0.82	301267	Huaxia Eye Hospital	Pair Corr
0.78	SPI	Spire Healthcare	Pair Corr
0.75	000503	China Reform Health	Pair Corr
0.59	INFU	InfuSystems Holdings	Pair Corr
0.5	WELL	WELL Health Technologies	Pair Corr
0.47	HIMS	Hims Hers Health	Pair Corr
0.47	OPT	Optima Health plc	Pair Corr
0.32	002173	Innovative Medical	Pair Corr

Related Correlations Analysis

	GRAL	OSCR	DYN	NVST	ICUI	SLNO	MIRM	PRVA	RARE	APGE
GRAL		-0.45	0.75	0.29	0.7	-0.44	-0.1	-0.11	0.39	0.76	GRAL
OSCR	-0.45		-0.52	-0.28	-0.75	0.82	-0.06	0.66	0.09	-0.72	OSCR
DYN	0.75	-0.52		0.12	0.46	-0.27	-0.07	-0.13	0.31	0.58	DYN
NVST	0.29	-0.28	0.12		0.59	-0.33	0.25	-0.05	-0.08	0.58	NVST
ICUI	0.7	-0.75	0.46	0.59		-0.85	-0.02	-0.52	0.08	0.87	ICUI
SLNO	-0.44	0.82	-0.27	-0.33	-0.85		0.01	0.73	0.15	-0.67	SLNO
MIRM	-0.1	-0.06	-0.07	0.25	-0.02	0.01		-0.11	-0.5	0.06	MIRM
PRVA	-0.11	0.66	-0.13	-0.05	-0.52	0.73	-0.11		0.24	-0.39	PRVA
RARE	0.39	0.09	0.31	-0.08	0.08	0.15	-0.5	0.24		0.15	RARE
APGE	0.76	-0.72	0.58	0.58	0.87	-0.67	0.06	-0.39	0.15		APGE
	GRAL	OSCR	DYN	NVST	ICUI	SLNO	MIRM	PRVA	RARE	APGE

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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

APGE	+ 0.87	ICUI
SLNO	+ 0.82	OSCR
APGE	+ 0.76	GRAL
DYN	+ 0.75	GRAL
PRVA	+ 0.73	SLNO
ICUI	+ 0.7	GRAL

High negative correlations

SLNO	- 0.85	ICUI
ICUI	- 0.75	OSCR
APGE	- 0.72	OSCR
APGE	- 0.67	SLNO
PRVA	- 0.52	ICUI
DYN	- 0.52	OSCR

Risk-Adjusted Indicators

There is a big difference between Alignment Stock performing well and Alignment 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 Alignment 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
GRAL	4.68	0.63	0.15	0.28	4.37	(5.40)	14.42	(8.86)	30.06
OSCR	3.63	(0.36)	0.00	(0.09)	0.00	0.00	8.55	(7.80)	30.41
DYN	4.20	0.67	0.15	0.37	4.57	(5.24)	9.47	(5.89)	58.12
NVST	1.24	0.02	0.03	0.07	1.55	(1.39)	3.08	(2.54)	9.72
ICUI	1.53	0.19	0.12	0.30	1.30	(1.97)	3.59	(2.70)	10.93
SLNO	3.05	(0.48)	0.00	(0.46)	0.00	0.00	6.26	(4.84)	33.03
MIRM	1.82	0.08	0.03	0.17	2.01	(2.12)	3.97	(3.68)	12.46
PRVA	1.27	(0.15)	0.00	(0.08)	0.00	0.00	2.78	(2.29)	7.67
RARE	2.97	(0.27)	0.00	(0.05)	0.00	0.00	5.49	(3.92)	51.23
APGE	2.51	0.94	0.52	0.56	1.24	(3.32)	7.84	(3.96)	23.29

Alignment Healthcare Corporate Management

Lisa Ferrari	Senior California	Profile
Kerry Matsumoto	Senior Product	Profile
Randall Fitzpatrick	Senior Product	Profile
David Milligan	Senior California	Profile
Amanda Root	VP Communications	Profile
Robert Scavo	Chief Officer	Profile

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