Cigna Corp Correlations

CI Stock

USD 280.41 1.21 0.43%

The current 90-days correlation between Cigna Corp and Elevance Health is 0.55 (i.e., Very weak diversification). The correlation of Cigna Corp 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.

Cigna Corp Correlation With Market

Significant diversification

The correlation between Cigna Corp and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cigna Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cigna Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cigna Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more detail on how to invest in Cigna Stock please use our How to Invest in Cigna Corp guide.

Moving together with Cigna Stock

0.63	CVS	CVS Health Corp	Pair Corr
0.68	UNH	UnitedHealth Group Earnings Call Today	Pair Corr
0.63	ARE	Alexandria Real Estate	Pair Corr

Moving against Cigna Stock

0.57	CAH	Cardinal Health	Pair Corr
0.51	REG	Regis Healthcare	Pair Corr
0.5	GH	Guardant Health Sell-off Trend	Pair Corr
0.43	SGIOF	Shionogi Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ELV	COR	REGN	ZTS	HUM	IDXX	CVS	CNC	BDX	CAH
ELV		-0.28	0.49	0.04	0.5	0.0	0.6	0.87	0.87	0.16	ELV
COR	-0.28		0.22	-0.5	-0.73	0.58	-0.14	-0.03	0.01	0.61	COR
REGN	0.49	0.22		-0.54	-0.32	0.53	-0.06	0.7	0.72	0.79	REGN
ZTS	0.04	-0.5	-0.54		0.7	-0.62	0.42	-0.26	-0.32	-0.76	ZTS
HUM	0.5	-0.73	-0.32	0.7		-0.52	0.53	0.22	0.08	-0.6	HUM
IDXX	0.0	0.58	0.53	-0.62	-0.52		-0.28	0.31	0.27	0.7	IDXX
CVS	0.6	-0.14	-0.06	0.42	0.53	-0.28		0.37	0.32	-0.26	CVS
CNC	0.87	-0.03	0.7	-0.26	0.22	0.31	0.37		0.86	0.54	CNC
BDX	0.87	0.01	0.72	-0.32	0.08	0.27	0.32	0.86		0.5	BDX
CAH	0.16	0.61	0.79	-0.76	-0.6	0.7	-0.26	0.54	0.5		CAH
	ELV	COR	REGN	ZTS	HUM	IDXX	CVS	CNC	BDX	CAH

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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

CNC	+ 0.87	ELV
BDX	+ 0.87	ELV
BDX	+ 0.86	CNC
CAH	+ 0.79	REGN
BDX	+ 0.72	REGN
CNC	+ 0.7	REGN

High negative correlations

CAH	- 0.76	ZTS
HUM	- 0.73	COR
IDXX	- 0.62	ZTS
CAH	- 0.6	HUM
ZTS	- 0.54	REGN
IDXX	- 0.52	HUM

Risk-Adjusted Indicators

There is a big difference between Cigna Stock performing well and Cigna Corp 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 Cigna Corp'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
ELV	1.35	0.04	0.03	0.10	1.53	(1.48)	3.40	(2.51)	8.06
COR	0.88	0.10	0.03	0.48	1.26	(0.87)	1.79	(2.39)	7.13
REGN	1.64	0.40	0.24	0.98	1.24	(2.10)	4.60	(2.47)	15.67
ZTS	1.17	(0.29)	0.00	(0.23)	0.00	0.00	2.00	(2.21)	14.87
HUM	1.68	(0.26)	0.00	(0.10)	0.00	0.00	3.79	(5.22)	12.22
IDXX	1.31	0.09	0.06	0.17	1.31	(1.47)	3.61	(2.82)	18.94
CVS	1.19	(0.01)	(0.02)	0.06	1.68	(1.14)	2.35	(1.95)	6.40
CNC	2.01	0.34	0.12	0.44	2.43	(2.17)	4.67	(3.69)	21.32
BDX	1.03	0.04	0.05	0.11	0.89	(1.22)	2.93	(1.77)	7.14
CAH	1.06	0.46	0.39	(3.99)	0.42	(1.33)	2.69	(1.38)	18.07

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