CareCloud Correlations

CCLD Stock

2.96 0.14 4.96%

The current 90-days correlation between CareCloud and Forian Inc is 0.19 (i.e., Average diversification). The correlation of CareCloud 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.

CareCloud Correlation With Market

Significant diversification

The correlation between CareCloud and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CareCloud 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 CareCloud. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For information on how to trade CareCloud Stock refer to our How to Trade CareCloud Stock guide.

Moving against CareCloud Stock

0.51	FIGS	Figs Inc	Pair Corr
0.35	EXAS	EXACT Sciences	Pair Corr
0.34	KZR	Kezar Life Sciences	Pair Corr

Related Correlations Analysis

	FORA	HSTM	NRC	CPSI	TRHC	STRM	NXGN	PRVA	EVH
FORA		-0.5	0.67	0.6	-0.77	0.87	0.62	0.02	0.71	FORA
HSTM	-0.5		-0.25	-0.16	0.75	-0.29	0.06	0.77	-0.84	HSTM
NRC	0.67	-0.25		0.12	-0.69	0.58	0.23	0.11	0.6	NRC
CPSI	0.6	-0.16	0.12		-0.24	0.76	0.71	0.26	0.2	CPSI
TRHC	-0.77	0.75	-0.69	-0.24		-0.58	-0.1	0.46	-0.87	TRHC
STRM	0.87	-0.29	0.58	0.76	-0.58		0.66	0.23	0.5	STRM
NXGN	0.62	0.06	0.23	0.71	-0.1	0.66		0.53	0.1	NXGN
PRVA	0.02	0.77	0.11	0.26	0.46	0.23	0.53		-0.47	PRVA
EVH	0.71	-0.84	0.6	0.2	-0.87	0.5	0.1	-0.47		EVH
	FORA	HSTM	NRC	CPSI	TRHC	STRM	NXGN	PRVA	EVH

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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

STRM	+ 0.87	FORA
PRVA	+ 0.77	HSTM
STRM	+ 0.76	CPSI
TRHC	+ 0.75	HSTM
EVH	+ 0.71	FORA
NXGN	+ 0.71	CPSI

High negative correlations

EVH	- 0.87	TRHC
EVH	- 0.84	HSTM
TRHC	- 0.77	FORA
TRHC	- 0.69	NRC
STRM	- 0.58	TRHC
HSTM	- 0.5	FORA

Risk-Adjusted Indicators

There is a big difference between CareCloud Stock performing well and CareCloud 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 CareCloud'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
FORA	1.18	(0.16)	0.00	(1.24)	0.00	0.00	2.82	(2.38)	12.38
HSTM	1.22	0.08	0.06	0.21	1.32	(1.35)	2.33	(2.00)	10.49
NRC	2.00	(0.31)	0.00	(0.05)	0.00	0.00	4.51	(4.72)	13.17
CPSI	1.50	(0.12)	0.00	0.43	0.00	0.00	2.85	(3.01)	14.25
TRHC	2.76	0.71	0.19	51.39	2.59	(3.14)	7.81	(4.61)	14.89
STRM	7.24	(0.99)	0.00	(1.05)	0.00	0.00	19.40	(14.33)	55.52
NXGN	1.10	(0.08)	0.00	0.54	0.00	0.00	2.81	(2.35)	7.28
PRVA	2.00	(0.09)	0.01	0.07	2.14	(2.21)	4.30	(3.55)	15.04
EVH	3.11	(1.44)	0.00	(1.22)	0.00	0.00	4.48	(5.92)	51.11

CareCloud Corporate Management

Kimberly Esq	VP Counsel	Profile
Nathalie Garcia	Chief Counsel	Profile
Kaitlyn Mode	Corporate Manager	Profile
Mike Cuesta	Chief Officer	Profile
Adeel Sarwar	Chief Officer	Profile
Steve Link	Chief Officer	Profile

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