American Well Correlations

AMWL Stock

USD 9.31 1.21 14.94%

The current 90-days correlation between American Well Corp and Doximity is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as American Well moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if American Well Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

American Well Correlation With Market

Weak diversification

The correlation between American Well Corp and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Well Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with American Stock

0.67	VRDN	Viridian Therapeutics	Pair Corr
0.73	EXAS	EXACT Sciences	Pair Corr

Moving against American Stock

0.6	ENOV	Enovis Corp	Pair Corr
0.37	FOXO	FOXO Technologies	Pair Corr
0.33	FORA	Forian Inc	Pair Corr
0.47	VCNX	Vaccinex	Pair Corr
0.36	BACK	IMAC Holdings	Pair Corr
0.33	MMSI	Merit Medical Systems	Pair Corr
0.45	FBRX	Forte Biosciences Trending	Pair Corr
0.31	ERAS	Erasca Inc	Pair Corr

Related Correlations Analysis

	DOCS	CERT	TDOC	DH	SDGR	VEEV	GEHC	AGTI	PHR
DOCS		-0.48	0.68	-0.2	-0.06	0.5	-0.2	-0.13	-0.49	DOCS
CERT	-0.48		-0.49	0.61	0.24	-0.29	0.09	0.52	0.72	CERT
TDOC	0.68	-0.49		-0.11	-0.22	0.31	0.08	-0.06	-0.62	TDOC
DH	-0.2	0.61	-0.11		0.49	0.12	0.05	0.32	0.64	DH
SDGR	-0.06	0.24	-0.22	0.49		0.41	-0.6	-0.18	0.55	SDGR
VEEV	0.5	-0.29	0.31	0.12	0.41		-0.3	-0.32	-0.11	VEEV
GEHC	-0.2	0.09	0.08	0.05	-0.6	-0.3		0.22	0.02	GEHC
AGTI	-0.13	0.52	-0.06	0.32	-0.18	-0.32	0.22		0.11	AGTI
PHR	-0.49	0.72	-0.62	0.64	0.55	-0.11	0.02	0.11		PHR
	DOCS	CERT	TDOC	DH	SDGR	VEEV	GEHC	AGTI	PHR

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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

PHR	+ 0.72	CERT
TDOC	+ 0.68	DOCS
PHR	+ 0.64	DH
DH	+ 0.61	CERT
PHR	+ 0.55	SDGR
AGTI	+ 0.52	CERT

High negative correlations

PHR	- 0.62	TDOC
GEHC	- 0.6	SDGR
TDOC	- 0.49	CERT
PHR	- 0.49	DOCS
CERT	- 0.48	DOCS
AGTI	- 0.32	VEEV

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Well 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 American Well'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
DOCS	2.15	0.39	0.14	0.45	2.31	(2.30)	4.53	(3.81)	43.10
CERT	1.95	(0.49)	0.00	(0.13)	0.00	0.00	5.82	(4.01)	15.96
TDOC	3.18	0.58	0.23	0.41	2.58	(3.89)	8.51	(4.42)	18.02
DH	2.00	(0.22)	(0.05)	0.00	2.44	(2.13)	3.86	(4.00)	13.20
SDGR	2.46	0.03	0.03	0.14	3.03	(2.62)	6.04	(4.75)	22.85
VEEV	1.33	0.07	0.05	0.18	1.51	(1.63)	3.49	(1.79)	15.98
GEHC	1.01	(0.06)	0.00	(0.28)	0.00	0.00	2.26	(2.52)	6.66
AGTI	2.06	0.06	(0.04)	(0.04)	2.87	(1.81)	4.03	(4.45)	10.75
PHR	2.28	(0.64)	0.00	(0.09)	0.00	0.00	4.58	(6.08)	28.02

American Well Corporate Management

Tim Conway	Chief Officer	Profile
Paul McNeice	Vice Accounting	Profile
Meredith Dixon	Senior Services	Profile
Amber Howe	Chief People Officer	Profile
MD MPH	CoCEO Pres	Profile

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