Astrana Health Correlations

ASTH Stock

22.03 0.75 3.52%

The current 90-days correlation between Astrana Health and The Ensign Group is 0.42 (i.e., Very weak diversification). 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

Average diversification

The correlation between Astrana Health and DJI is 0.18 (i.e., Average 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.

Build AI portfolio with Astrana Stock

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 poverty.

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

0.7	CCM	Concord Medical Services	Pair Corr
0.63	HUM	Humana Inc Earnings Call This Week	Pair Corr
0.73	7QD	CLOVER HEALTH INV	Pair Corr
0.78	WELL	WELL Health Technologies	Pair Corr

Moving against Astrana Stock

0.64	FLGT	Fulgent Genetics	Pair Corr
0.54	CLH	Cardinal Health Earnings Call Today	Pair Corr
0.37	CAH	Cardinal Health Earnings Call Today	Pair Corr
0.32	BKD	Brookdale Senior Living	Pair Corr
0.39	SHL	Sonic Healthcare	Pair Corr
0.34	NLH	Nova Leap Health	Pair Corr
0.33	PRPO	Precipio	Pair Corr

Related Correlations Analysis

	ENSG	ALGN	UHS	ATR	BIO	CHE	MOH	RVMD	BMRN	HSIC
ENSG		-0.53	0.57	-0.33	0.52	0.29	-0.5	-0.39	-0.27	-0.37	ENSG
ALGN	-0.53		-0.62	0.66	-0.05	0.2	0.86	0.83	0.47	0.77	ALGN
UHS	0.57	-0.62		-0.42	0.32	-0.4	-0.81	-0.76	-0.26	-0.31	UHS
ATR	-0.33	0.66	-0.42		-0.1	0.36	0.64	0.7	0.45	0.59	ATR
BIO	0.52	-0.05	0.32	-0.1		0.32	-0.22	0.01	-0.02	-0.04	BIO
CHE	0.29	0.2	-0.4	0.36	0.32		0.37	0.47	0.18	0.13	CHE
MOH	-0.5	0.86	-0.81	0.64	-0.22	0.37		0.85	0.5	0.64	MOH
RVMD	-0.39	0.83	-0.76	0.7	0.01	0.47	0.85		0.43	0.67	RVMD
BMRN	-0.27	0.47	-0.26	0.45	-0.02	0.18	0.5	0.43		0.56	BMRN
HSIC	-0.37	0.77	-0.31	0.59	-0.04	0.13	0.64	0.67	0.56		HSIC
	ENSG	ALGN	UHS	ATR	BIO	CHE	MOH	RVMD	BMRN	HSIC

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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

MOH	+ 0.86	ALGN
RVMD	+ 0.85	MOH
RVMD	+ 0.83	ALGN
HSIC	+ 0.77	ALGN
RVMD	+ 0.7	ATR
HSIC	+ 0.67	RVMD

High negative correlations

MOH	- 0.81	UHS
RVMD	- 0.76	UHS
UHS	- 0.62	ALGN
ALGN	- 0.53	ENSG
MOH	- 0.5	ENSG
ATR	- 0.42	UHS

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
ENSG	0.99	(0.09)	0.00	(0.10)	0.00	0.00	2.51	(1.62)	6.93
ALGN	1.43	0.15	0.12	0.14	1.37	(1.71)	3.51	(2.54)	11.36
UHS	1.17	(0.12)	0.00	(0.12)	0.00	0.00	2.49	(2.87)	8.92
ATR	1.03	0.05	0.01	0.18	1.64	(1.04)	2.48	(1.98)	6.72
BIO	1.31	(0.06)	(0.03)	0.01	1.39	(1.75)	4.31	(2.83)	8.43
CHE	1.05	(0.07)	0.00	(0.05)	0.00	0.00	2.25	(2.24)	5.87
MOH	1.85	0.21	0.07	0.23	2.64	(1.83)	3.97	(3.94)	13.66
RVMD	2.32	0.85	0.22	(8.07)	2.96	(2.76)	4.56	(2.52)	45.50
BMRN	1.62	0.15	0.08	0.27	1.47	(1.90)	3.20	(2.32)	22.06
HSIC	1.29	0.23	0.13	0.59	1.32	(1.47)	2.43	(2.60)	13.60

Astrana Health Corporate Management

WaiChow MD	Chief Officer	Profile
Rita Pew	Vice Operations	Profile
Carlos MD	Chief Texas	Profile
Glenn Sobotka	Chief Officer	Profile

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