Astrana Health Correlations

ASTH Stock

43.25 0.39 0.91%

The correlation of Astrana 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.

Astrana Health Correlation With Market

Modest diversification

The correlation between Astrana Health and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Astrana Health 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 Astrana 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 estimate.

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

Moving together with Astrana Stock

0.86	DRIO	DarioHealth Corp	Pair Corr
0.63	FEMY	Femasys	Pair Corr
0.71	ALC	Alcon AG	Pair Corr
0.75	BDX	Becton Dickinson Sell-off Trend	Pair Corr

Moving against Astrana Stock

0.82	GH	Guardant Health	Pair Corr
0.78	LH	Laboratory	Pair Corr
0.73	ENOV	Enovis Corp	Pair Corr
0.64	DXCM	DexCom Inc Sell-off Trend	Pair Corr
0.63	VREX	Varex Imaging Corp	Pair Corr
0.56	OM	Outset Medical	Pair Corr
0.48	VEEV	Veeva Systems Class Earnings Call This Week	Pair Corr
0.46	VVOS	Vivos Therapeutics	Pair Corr
0.45	DOCS	Doximity	Pair Corr
0.44	ELMD	Electromed	Pair Corr
0.43	EMBC	Embecta Corp Trending	Pair Corr
0.37	MD	Mednax Inc	Pair Corr
0.33	EW	Edwards Lifesciences Corp	Pair Corr
0.32	ECOR	Electrocore LLC	Pair Corr
0.31	WORX	Scworx Corp	Pair Corr
0.75	SYK	Stryker	Pair Corr
0.74	CAH	Cardinal Health	Pair Corr
0.71	COR	Cencora	Pair Corr
0.7	XAIR	Beyond Air	Pair Corr
0.68	MMSI	Merit Medical Systems	Pair Corr
0.67	FOXO	FOXO Technologies	Pair Corr
0.35	BSX	Boston Scientific Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	XNET	ABEV	GLBE	KO	FLNT	SAM	DLPN	COE
XNET		-0.12	0.3	-0.53	0.24	0.51	-0.37	-0.3	XNET
ABEV	-0.12		-0.61	0.77	0.23	-0.69	0.49	0.12	ABEV
GLBE	0.3	-0.61		-0.67	-0.07	0.7	-0.7	-0.06	GLBE
KO	-0.53	0.77	-0.67		0.07	-0.88	0.75	0.08	KO
FLNT	0.24	0.23	-0.07	0.07		0.06	-0.23	0.25	FLNT
SAM	0.51	-0.69	0.7	-0.88	0.06		-0.69	-0.07	SAM
DLPN	-0.37	0.49	-0.7	0.75	-0.23	-0.69		-0.06	DLPN
COE	-0.3	0.12	-0.06	0.08	0.25	-0.07	-0.06		COE
	XNET	ABEV	GLBE	KO	FLNT	SAM	DLPN	COE

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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

KO	+ 0.77	ABEV
DLPN	+ 0.75	KO
SAM	+ 0.7	GLBE
SAM	+ 0.51	XNET
DLPN	+ 0.49	ABEV
GLBE	+ 0.3	XNET

High negative correlations

SAM	- 0.88	KO
DLPN	- 0.7	GLBE
DLPN	- 0.69	SAM
SAM	- 0.69	ABEV
KO	- 0.67	GLBE
GLBE	- 0.61	ABEV

Risk-Adjusted Indicators

There is a big difference between Astrana Stock performing well and Astrana 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 Astrana 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
XNET	2.90	0.33	0.06	0.64	3.68	(3.42)	6.28	(6.12)	30.75
ABEV	1.16	(0.17)	0.00	(1.12)	0.00	0.00	2.20	(2.69)	6.42
GLBE	1.68	0.54	0.29	0.61	1.21	(1.98)	4.70	(2.91)	12.67
KO	0.67	(0.17)	0.00	(1.31)	0.00	0.00	1.10	(1.66)	4.00
FLNT	3.52	0.12	(0.01)	(0.46)	3.76	(4.25)	8.58	(6.28)	22.85
SAM	1.27	0.20	0.06	1.09	1.46	(1.27)	2.83	(2.35)	6.57
DLPN	3.08	(0.35)	0.00	(0.42)	0.00	0.00	6.90	(6.06)	21.14
COE	2.32	(0.05)	0.00	(0.10)	0.00	0.00	4.67	(4.95)	27.73

Astrana Health Corporate Management

WaiChow MD	Chief Officer	Profile
Rita Pew	Vice Operations	Profile
Carlos MD	Chief Texas	Profile
CPA CGMA	Chief Officer	Profile

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