BrightSpring Health Correlations

BTSG Stock

37.53 1.57 4.02%

The current 90-days correlation between BrightSpring Health and Bruker is 0.26 (i.e., Modest 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 weak diversification

The correlation between BrightSpring Health Services and DJI is 0.49 (i.e., Very weak 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 population.

Moving together with BrightSpring Stock

0.83	NPTH	NeuPath Health	Pair Corr
0.69	CAH	Cardinal Health	Pair Corr
0.68	HCA	HCA Holdings	Pair Corr
0.8	NHC	National HealthCare	Pair Corr
0.83	DR	Medical Facilities	Pair Corr
0.72	WMT	Walmart Common Stock	Pair Corr
0.86	SAR	Saratoga Investment Corp	Pair Corr

Moving against BrightSpring Stock

0.87	300015	Aier Eye Hospital	Pair Corr
0.8	SPI	Spire Healthcare	Pair Corr
0.74	301267	Huaxia Eye Hospital	Pair Corr
0.74	600763	Top Choice Medical	Pair Corr
0.72	OPT	Optima Health plc	Pair Corr
0.69	000503	China Reform Health	Pair Corr
0.61	LH	Laboratory	Pair Corr
0.45	DGX	Quest Diagnostics	Pair Corr
0.38	UNH	UnitedHealth Group CDR Earnings Call This Week	Pair Corr
0.34	PHA	Premier Health Earnings Call This Week	Pair Corr
0.34	UNH	UnitedHealth Group	Pair Corr
0.78	ACHC	Acadia Healthcare	Pair Corr
0.77	PINC	Premier	Pair Corr
0.7	WELL	WELL Health Technologies	Pair Corr
0.7	JD	JD Inc Adr	Pair Corr
0.54	CRVL	CorVel Corp Normal Trading	Pair Corr

Related Correlations Analysis

	BRKR	CHE	IRTC	KRYS	HQY	TFX	RDNT	STVN	MMSI	CRSP
BRKR		-0.12	0.11	0.88	0.38	-0.2	0.01	-0.7	0.68	-0.71	BRKR
CHE	-0.12		0.45	-0.27	0.17	-0.05	0.27	0.4	0.18	0.07	CHE
IRTC	0.11	0.45		-0.13	0.01	0.18	0.43	0.45	0.14	0.19	IRTC
KRYS	0.88	-0.27	-0.13		0.04	0.0	-0.35	-0.84	0.63	-0.58	KRYS
HQY	0.38	0.17	0.01	0.04		-0.6	0.5	-0.12	0.2	-0.6	HQY
TFX	-0.2	-0.05	0.18	0.0	-0.6		-0.16	0.28	-0.23	0.59	TFX
RDNT	0.01	0.27	0.43	-0.35	0.5	-0.16		0.5	-0.03	-0.03	RDNT
STVN	-0.7	0.4	0.45	-0.84	-0.12	0.28	0.5		-0.43	0.64	STVN
MMSI	0.68	0.18	0.14	0.63	0.2	-0.23	-0.03	-0.43		-0.62	MMSI
CRSP	-0.71	0.07	0.19	-0.58	-0.6	0.59	-0.03	0.64	-0.62		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

KRYS	+ 0.88	BRKR
MMSI	+ 0.68	BRKR
CRSP	+ 0.64	STVN
MMSI	+ 0.63	KRYS
CRSP	+ 0.59	TFX
RDNT	+ 0.5	HQY

High negative correlations

STVN	- 0.84	KRYS
CRSP	- 0.71	BRKR
STVN	- 0.7	BRKR
CRSP	- 0.62	MMSI
CRSP	- 0.6	HQY
TFX	- 0.6	HQY

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	2.00	0.61	0.34	0.58	1.35	(2.44)	5.53	(2.67)	11.96
CHE	1.06	(0.02)	(0.04)	0.05	1.32	(1.21)	2.25	(2.24)	11.15
IRTC	1.43	(0.04)	(0.03)	0.03	1.83	(1.55)	3.15	(2.80)	8.98
KRYS	1.55	0.46	0.29	0.49	1.14	(1.78)	3.81	(2.41)	7.77
HQY	1.39	0.18	0.06	3.89	1.42	(1.58)	2.99	(2.63)	9.98
TFX	1.86	(0.22)	0.00	(0.13)	0.00	0.00	3.48	(2.93)	22.60
RDNT	1.95	(0.04)	(0.02)	0.03	2.39	(2.04)	4.30	(3.48)	10.72
STVN	2.06	(0.31)	0.00	(0.11)	0.00	0.00	5.70	(3.92)	12.08
MMSI	1.20	0.01	(0.01)	0.10	1.79	(1.24)	2.73	(2.32)	8.06
CRSP	2.71	(0.49)	0.00	(0.24)	0.00	0.00	5.51	(5.47)	17.69

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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