BrightSpring Health Correlations

BTSGU Stock

126.78 0.57 0.45%

The current 90-days correlation between BrightSpring Health and Oscar Health is 0.33 (i.e., Weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

BrightSpring Health Correlation With Market

Weak diversification

The correlation between BrightSpring Health Services and DJI is 0.34 (i.e., 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 price.

Moving together with BrightSpring Stock

0.81	GEHC	GE HealthCare Techno	Pair Corr
0.67	SOLV	Solventum Corp	Pair Corr
0.77	AVAL	Grupo Aval	Pair Corr
0.71	SHG	Shinhan Financial	Pair Corr
0.89	BCH	Banco De Chile	Pair Corr
0.92	NAUFF	NevGold Corp	Pair Corr
0.88	FTV	Fortive Corp	Pair Corr
0.89	LCDX	Caliber Imaging Diag	Pair Corr
0.9	DGWPF	Drgerwerk AG	Pair Corr
0.63	DB	Deutsche Bank AG	Pair Corr
0.61	SMXWW	SMX Public Limited	Pair Corr
0.86	MGCV	MGC Ventures	Pair Corr
0.87	CASXF	Casa Minerals	Pair Corr
0.9	ADAMI	New York Mortgage Symbol Change	Pair Corr

Moving against BrightSpring Stock

0.84	VEEV	Veeva Systems Class	Pair Corr
0.83	DOCS	Doximity	Pair Corr
0.81	FNMFO	Federal National Mortgage	Pair Corr
0.45	MTHRY	M3 Inc	Pair Corr

Related Correlations Analysis

	OSCR	HNGE	GKOS	ARWR	BLCO	TFX	MMSI	PTCT	ALKS	ACLX
OSCR		0.71	-0.64	-0.53	-0.52	0.58	-0.68	-0.71	0.56	0.38	OSCR
HNGE	0.71		-0.14	-0.04	-0.17	0.76	-0.42	-0.45	0.12	-0.09	HNGE
GKOS	-0.64	-0.14		0.93	0.81	-0.12	0.56	0.78	-0.74	-0.87	GKOS
ARWR	-0.53	-0.04	0.93		0.91	0.12	0.48	0.67	-0.69	-0.9	ARWR
BLCO	-0.52	-0.17	0.81	0.91		0.09	0.59	0.66	-0.53	-0.84	BLCO
TFX	0.58	0.76	-0.12	0.12	0.09		-0.3	-0.47	0.0	-0.19	TFX
MMSI	-0.68	-0.42	0.56	0.48	0.59	-0.3		0.64	-0.34	-0.41	MMSI
PTCT	-0.71	-0.45	0.78	0.67	0.66	-0.47	0.64		-0.56	-0.57	PTCT
ALKS	0.56	0.12	-0.74	-0.69	-0.53	0.0	-0.34	-0.56		0.72	ALKS
ACLX	0.38	-0.09	-0.87	-0.9	-0.84	-0.19	-0.41	-0.57	0.72		ACLX
	OSCR	HNGE	GKOS	ARWR	BLCO	TFX	MMSI	PTCT	ALKS	ACLX

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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

ARWR	+ 0.93	GKOS
BLCO	+ 0.91	ARWR
BLCO	+ 0.81	GKOS
PTCT	+ 0.78	GKOS
TFX	+ 0.76	HNGE
ACLX	+ 0.72	ALKS

High negative correlations

ACLX	- 0.9	ARWR
ACLX	- 0.87	GKOS
ACLX	- 0.84	BLCO
ALKS	- 0.74	GKOS
PTCT	- 0.71	OSCR
ALKS	- 0.69	ARWR

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
OSCR	3.58	(0.42)	0.00	(0.13)	0.00	0.00	8.55	(7.80)	30.41
HNGE	2.19	(0.08)	0.00	(0.15)	0.00	0.00	6.16	(3.00)	23.41
GKOS	2.04	0.48	0.20	0.50	2.08	(2.50)	5.29	(3.03)	16.93
ARWR	3.29	1.02	0.32	0.51	2.63	(3.79)	9.42	(5.54)	32.02
BLCO	1.52	0.13	0.09	0.13	1.59	(1.68)	3.50	(2.65)	10.48
TFX	1.74	(0.02)	0.00	0.04	2.66	(1.98)	3.98	(2.91)	17.32
MMSI	1.03	0.10	0.06	0.19	1.21	(1.14)	2.43	(1.89)	8.06
PTCT	1.51	0.31	0.14	0.36	1.84	(1.69)	3.88	(2.47)	13.88
ALKS	1.61	(0.10)	0.00	(0.04)	0.00	0.00	3.31	(3.38)	11.41
ACLX	2.18	(0.28)	0.00	(0.34)	0.00	0.00	5.30	(4.57)	22.66

BrightSpring Health Corporate Management

Steven Esq	Corporate Officer	Profile
Lisa Nalley	Chief Resources	Profile
BSN CHCE	Chief Officer	Profile
Phani Konduru	Chief Officer	Profile
William MD	Senior Affairs	Profile

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