IMAC Holdings Correlations

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USD 0.65 0 0.15%

The current 90-days correlation between IMAC Holdings and Novo Integrated Sciences is 0.42 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IMAC Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if IMAC Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IMAC Holdings Correlation With Market

Average diversification

The correlation between IMAC Holdings and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IMAC Holdings 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 IMAC Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more information on how to buy IMAC Stock please use our How to buy in IMAC Stock guide.

Moving against IMAC Stock

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0.48	CVS	CVS Health Corp Earnings Call Today	Pair Corr
0.44	BMY	Bristol Myers Squibb Earnings Call Tomorrow	Pair Corr
0.42	SEM	Select Medical Holdings	Pair Corr
0.41	EHC	Encompass Health Corp Earnings Call Today	Pair Corr
0.4	MD	Mednax Inc	Pair Corr
0.35	JNJ	Johnson Johnson	Pair Corr
0.31	LNSR	LENSAR Inc	Pair Corr
0.43	002901	Double Medical Technology	Pair Corr

Related Correlations Analysis

	TOI	AVAH	PIII	NVOS	IONM	CANO	HCA	AIRS	ACHC
TOI		-0.36	-0.2	-0.65	-0.61	0.38	0.02	-0.59	0.43	TOI
AVAH	-0.36		0.14	0.22	0.39	-0.16	0.42	0.72	-0.27	AVAH
PIII	-0.2	0.14		0.76	0.67	-0.7	0.77	0.48	0.43	PIII
NVOS	-0.65	0.22	0.76		0.89	-0.65	0.53	0.52	0.18	NVOS
IONM	-0.61	0.39	0.67	0.89		-0.51	0.54	0.54	0.22	IONM
CANO	0.38	-0.16	-0.7	-0.65	-0.51		-0.55	-0.55	-0.05	CANO
HCA	0.02	0.42	0.77	0.53	0.54	-0.55		0.46	0.33	HCA
AIRS	-0.59	0.72	0.48	0.52	0.54	-0.55	0.46		-0.24	AIRS
ACHC	0.43	-0.27	0.43	0.18	0.22	-0.05	0.33	-0.24		ACHC
	TOI	AVAH	PIII	NVOS	IONM	CANO	HCA	AIRS	ACHC

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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

IONM	+ 0.89	NVOS
HCA	+ 0.77	PIII
NVOS	+ 0.76	PIII
AIRS	+ 0.72	AVAH
IONM	+ 0.67	PIII
HCA	+ 0.54	IONM

High negative correlations

CANO	- 0.7	PIII
CANO	- 0.65	NVOS
NVOS	- 0.65	TOI
IONM	- 0.61	TOI
AIRS	- 0.59	TOI
AIRS	- 0.55	CANO

Risk-Adjusted Indicators

There is a big difference between IMAC Stock performing well and IMAC Holdings 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 IMAC Holdings' 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
TOI	8.08	2.14	0.22	2.19	7.46	(12.06)	20.24	(10.00)	39.32
AVAH	2.40	(0.17)	0.00	(0.07)	0.00	0.00	4.94	(4.17)	23.12
PIII	5.06	(0.93)	0.00	2.38	0.00	0.00	10.00	(8.70)	44.01
NVOS	7.53	(2.03)	0.00	0.88	0.00	0.00	11.54	(17.57)	90.12
IONM	10.52	(2.83)	0.00	(1.42)	0.00	0.00	17.24	(24.57)	147.97
CANO	4.54	0.26	0.05	0.49	4.70	(6.08)	11.11	(9.77)	36.13
HCA	1.14	(0.18)	0.00	(0.27)	0.00	0.00	2.13	(2.71)	7.58
AIRS	4.63	(0.17)	0.00	(0.07)	0.00	0.00	8.53	(8.35)	40.62
ACHC	1.83	(0.15)	0.00	(2.49)	0.00	0.00	4.60	(3.00)	19.21

IMAC Holdings Corporate Management

Frank III	Director Sales	Profile
Ben Lerner	Chief Officer	Profile
Sandy Miller	Chief Staff	Profile
Jeffrey MBA	Chairman CEO	Profile

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