BrightSpring Health Correlations

BTSG Stock

37.28 1.74 4.46%

The current 90-days correlation between BrightSpring Health and Bruker is 0.17 (i.e., Average diversification). The correlation of BrightSpring 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.

BrightSpring Health Correlation With Market

Very poor diversification

The correlation between BrightSpring Health Services and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BrightSpring Health Services and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with BrightSpring Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in BrightSpring Health Services. 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.

Moving together with BrightSpring Stock

0.79	NPTH	NeuPath Health	Pair Corr
0.87	EHAB	Enhabit	Pair Corr
0.69	AGL	agilon health	Pair Corr
0.67	BKD	Brookdale Senior Living	Pair Corr
0.72	DR	Medical Facilities	Pair Corr
0.82	BMEZ	BlackRock Health Sciences	Pair Corr

Moving against BrightSpring Stock

0.69	REG	Regis Healthcare	Pair Corr
0.6	S00	Spire Healthcare	Pair Corr
0.6	UHS	Universal Health Services	Pair Corr
0.56	SPI	Spire Healthcare	Pair Corr
0.47	FMS	Fresenius Medical Care	Pair Corr
0.84	ATPC	Agape ATP	Pair Corr
0.79	BMGL	Basel Medical Group	Pair Corr
0.76	4WK	Wenzhou Kangning Hospital	Pair Corr
0.68	NAKA	Kindly MD Earnings Call This Week	Pair Corr
0.6	BZ7A	Bumrungrad Hospital	Pair Corr
0.54	A41	Addus HomeCare	Pair Corr
0.5	CRVL	CorVel Corp	Pair Corr
0.44	ADUS	Addus HomeCare	Pair Corr
0.4	7QD	CLOVER HEALTH INV	Pair Corr
0.39	8HX	AKSO HEALTH GR	Pair Corr
0.32	NLH	Nova Leap Health	Pair Corr

Related Correlations Analysis

	BRKR	CHE	IRTC	KRYS	HQY	TFX	RDNT	STVN	MMSI	CRSP
BRKR		0.28	0.15	0.57	-0.14	0.02	0.03	-0.17	0.06	0.1	BRKR
CHE	0.28		-0.14	0.35	-0.27	-0.52	-0.14	-0.12	-0.11	-0.17	CHE
IRTC	0.15	-0.14		-0.61	0.72	0.55	0.69	0.82	0.79	0.38	IRTC
KRYS	0.57	0.35	-0.61		-0.82	-0.32	-0.67	-0.79	-0.54	-0.07	KRYS
HQY	-0.14	-0.27	0.72	-0.82		0.37	0.78	0.75	0.66	0.04	HQY
TFX	0.02	-0.52	0.55	-0.32	0.37		0.15	0.43	0.6	0.5	TFX
RDNT	0.03	-0.14	0.69	-0.67	0.78	0.15		0.74	0.44	0.18	RDNT
STVN	-0.17	-0.12	0.82	-0.79	0.75	0.43	0.74		0.67	0.43	STVN
MMSI	0.06	-0.11	0.79	-0.54	0.66	0.6	0.44	0.67		0.33	MMSI
CRSP	0.1	-0.17	0.38	-0.07	0.04	0.5	0.18	0.43	0.33		CRSP
	BRKR	CHE	IRTC	KRYS	HQY	TFX	RDNT	STVN	MMSI	CRSP

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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

STVN	+ 0.82	IRTC
MMSI	+ 0.79	IRTC
RDNT	+ 0.78	HQY
STVN	+ 0.75	HQY
STVN	+ 0.74	RDNT
HQY	+ 0.72	IRTC

High negative correlations

HQY	- 0.82	KRYS
STVN	- 0.79	KRYS
RDNT	- 0.67	KRYS
KRYS	- 0.61	IRTC
MMSI	- 0.54	KRYS
TFX	- 0.52	CHE

Risk-Adjusted Indicators

There is a big difference between BrightSpring Stock performing well and BrightSpring 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 BrightSpring 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
BRKR	2.05	0.05	0.03	0.07	2.25	(2.30)	4.32	(3.76)	12.82
CHE	1.00	0.05	0.03	0.12	1.13	(1.09)	2.25	(1.94)	5.87
IRTC	2.00	(0.38)	0.00	(0.29)	0.00	0.00	4.78	(5.48)	13.25
KRYS	1.63	0.44	0.27	0.55	1.24	(1.96)	4.10	(2.63)	11.01
HQY	1.66	(0.29)	0.00	(0.25)	0.00	0.00	2.57	(3.45)	16.72
TFX	1.89	(0.24)	0.00	(0.19)	0.00	0.00	3.55	(3.77)	22.60
RDNT	1.85	(0.26)	0.00	(0.26)	0.00	0.00	4.30	(3.47)	10.86
STVN	2.15	(0.92)	0.00	(0.39)	0.00	0.00	4.36	(5.60)	15.63
MMSI	1.19	(0.16)	0.00	(0.25)	0.00	0.00	2.44	(2.61)	11.35
CRSP	2.67	(0.51)	0.00	(0.24)	0.00	0.00	5.31	(6.35)	19.81

BrightSpring Health Corporate Management

Steven Esq	Corporate Officer	Profile
Lisa Nalley	Chief Resources	Profile
Meghan Kinnan	Senior Care	Profile
BSN CHCE	Chief Officer	Profile
Jennifer Phipps	Chief Officer	Profile
Phani Konduru	Chief Officer	Profile
William MD	Senior Affairs	Profile

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