BrightSpring Health Correlations

BTSGU Stock

132.63 2.77 2.05%

The current 90-days correlation between BrightSpring Health and Oscar Health is 0.36 (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

Very poor diversification

The correlation between BrightSpring Health Services and DJI is 0.87 (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 census.

Moving together with BrightSpring Stock

0.83	GEHC	GE HealthCare Techno	Pair Corr
0.61	SOLV	Solventum Corp	Pair Corr
0.7	PPERY	Bank Mandiri Persero	Pair Corr
0.84	PPERF	Bank Mandiri Persero	Pair Corr
0.61	TLK	Telkom Indonesia Tbk	Pair Corr
0.8	PTAIY	Astra International Tbk	Pair Corr
0.89	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.67	AOS	Smith AO Earnings Call This Week	Pair Corr
0.72	WM	Waste Management	Pair Corr
0.8	VRTX	Vertex Pharmaceuticals	Pair Corr
0.76	YLLXF	Yellow Cake plc	Pair Corr
0.76	AICAF	Air China Limited	Pair Corr
0.69	SNDK	Sandisk Corp Earnings Call This Week	Pair Corr
0.76	KLAC	KLA Tencor	Pair Corr
0.89	RCGCF	Roscan Gold Corp	Pair Corr
0.73	MGDDY	Compagnie Generale des	Pair Corr
0.85	TER	Teradyne	Pair Corr
0.88	MAR	Marriott International	Pair Corr
0.7	SNEX	Stonex Group	Pair Corr
0.83	TOTDY	Toto Earnings Call This Week	Pair Corr
0.86	BSAC	Banco Santander Chile Earnings Call This Week	Pair Corr
0.87	FKYS	First Keystone Corp Earnings Call This Week	Pair Corr

Moving against BrightSpring Stock

0.83	VEEV	Veeva Systems Class	Pair Corr
0.73	DOCS	Doximity	Pair Corr
0.59	MTHRY	M3 Inc	Pair Corr
0.55	PTAIF	PT Astra International	Pair Corr
0.53	HQY	HealthEquity	Pair Corr
0.33	BKRKF	PT Bank Rakyat	Pair Corr
0.33	PBCRF	PT Bank Central	Pair Corr
0.41	ZVOI	Zovio Inc	Pair Corr
0.38	CSBI	Carroll Shelby Inter	Pair Corr
0.32	VYGVQ	Voyager Digital	Pair Corr

Related Correlations Analysis

	OSCR	HNGE	GKOS	ARWR	BLCO	TFX	MMSI	PTCT	ALKS	ACLX
OSCR		0.55	-0.49	-0.29	-0.16	0.46	-0.34	-0.51	0.27	0.17	OSCR
HNGE	0.55		-0.17	0.05	-0.03	0.78	0.16	-0.19	-0.37	-0.14	HNGE
GKOS	-0.49	-0.17		0.91	0.81	-0.28	0.15	0.67	-0.26	-0.86	GKOS
ARWR	-0.29	0.05	0.91		0.9	0.0	0.1	0.53	-0.33	-0.93	ARWR
BLCO	-0.16	-0.03	0.81	0.9		-0.06	0.1	0.44	-0.12	-0.88	BLCO
TFX	0.46	0.78	-0.28	0.0	-0.06		0.17	-0.39	-0.36	-0.05	TFX
MMSI	-0.34	0.16	0.15	0.1	0.1	0.17		0.3	-0.3	-0.18	MMSI
PTCT	-0.51	-0.19	0.67	0.53	0.44	-0.39	0.3		-0.39	-0.55	PTCT
ALKS	0.27	-0.37	-0.26	-0.33	-0.12	-0.36	-0.3	-0.39		0.39	ALKS
ACLX	0.17	-0.14	-0.86	-0.93	-0.88	-0.05	-0.18	-0.55	0.39		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	+ 0.91	GKOS
BLCO	+ 0.9	ARWR
BLCO	+ 0.81	GKOS
TFX	+ 0.78	HNGE
PTCT	+ 0.67	GKOS
HNGE	+ 0.55	OSCR

High negative correlations

ACLX	- 0.93	ARWR
ACLX	- 0.88	BLCO
ACLX	- 0.86	GKOS
ACLX	- 0.55	PTCT
PTCT	- 0.51	OSCR
GKOS	- 0.49	OSCR

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	3.36	(0.40)	0.00	(0.13)	0.00	0.00	7.88	(7.46)	30.41
HNGE	2.14	(0.28)	0.00	(0.44)	0.00	0.00	4.16	(3.95)	21.22
GKOS	2.10	0.60	0.30	0.75	1.60	(2.73)	5.35	(3.03)	19.15
ARWR	3.40	0.80	0.24	0.43	2.89	(3.81)	10.85	(5.77)	32.02
BLCO	1.37	0.04	0.03	0.10	1.55	(1.53)	2.96	(2.93)	10.35
TFX	1.88	(0.38)	0.00	(0.28)	0.00	0.00	3.48	(3.77)	22.60
MMSI	1.26	(0.06)	0.00	(0.04)	0.00	0.00	2.73	(2.61)	12.72
PTCT	1.47	0.10	0.04	0.17	2.12	(1.51)	3.88	(3.49)	13.88
ALKS	1.64	0.07	0.03	0.14	2.10	(1.84)	3.82	(3.30)	11.41
ACLX	2.31	(0.31)	0.00	1.41	0.00	0.00	4.75	(4.57)	22.18

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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